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          <ccc>XXXXXXXX</ccc>
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        <classId>C000066901</classId>
        <classId>C000004270</classId>
        <classId>C000043465</classId>
        <classId>C000166197</classId>
        <classId>C000004269</classId>
        <classId>C000004271</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
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      <regName>RUSSELL INVESTMENT CO</regName>
      <regFileNumber>811-03153</regFileNumber>
      <regCik>0000351601</regCik>
      <regLei>549300J63VJ9OS4TCK93</regLei>
      <regStreet1>1301 SECOND AVENUE</regStreet1>
      <regStreet2>18TH FLOOR</regStreet2>
      <regCity>SEATTLE</regCity>
      <regStateConditional regCountry="US" regState="US-WA"/>
      <regZipOrPostalCode>98101</regZipOrPostalCode>
      <regPhone>800-787-7354</regPhone>
      <seriesName>Global Real Estate Securities Fund</seriesName>
      <seriesId>S000001579</seriesId>
      <seriesLei>12EWS3SG92VUE6HTB591</seriesLei>
      <repPdEnd>2020-10-31</repPdEnd>
      <repPdDate>2020-04-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
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      <totLiabs>22258962.17</totLiabs>
      <netAssets>551762136.36</netAssets>
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      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
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      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
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      <borrowers>
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        <name>American Tower Corp</name>
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      <invstOrSec>
        <name>Invitation Homes Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tokyu Fudosan Holdings Corp</name>
        <lei>N/A</lei>
        <title>Tokyu Fudosan Holdings Corp</title>
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        <name>Segro PLC</name>
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        <name>Royal Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Welltower Inc</name>
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        <name>Mid-America Apartment Communities Inc</name>
        <lei>549300FQZKFR5YNSHZ21</lei>
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      <invstOrSec>
        <name>Citibank, National Association</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tritax EuroBox PLC</name>
        <lei>213800HK59N7H979QU33</lei>
        <title>Tritax EuroBox PLC</title>
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        <name>United Urban Investment Corp</name>
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      <invstOrSec>
        <name>China Overseas Land &amp; Investment Ltd</name>
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        <title>China Overseas Land &amp; Investment Ltd</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mori Trust Hotel Reit Inc</name>
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        <title>Mori Trust Hotel Reit Inc</title>
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      <invstOrSec>
        <name>Hulic Reit Inc</name>
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        <title>Hulic Reit Inc</title>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Weingarten Realty Investors</name>
        <lei>549300JMKTJNB8GWHU88</lei>
        <title>Weingarten Realty Investors</title>
        <cusip>948741103</cusip>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Ryman Hospitality Properties Inc</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Jones Lang LaSalle Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Euronext Paris SA</name>
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      <invstOrSec>
        <name>LEG Immobilien AG</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Standard Chartered Bank</name>
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      <invstOrSec>
        <name>Apartment Investment and Management Co</name>
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      <invstOrSec>
        <name>Mitsubishi Estate Co Ltd</name>
        <lei>353800KOFMRGOXSJ5Z65</lei>
        <title>Mitsubishi Estate Co Ltd</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Warehouses De Pauw CVA</name>
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          <isin value="BE0974349814"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <cusip>000000000</cusip>
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      <invstOrSec>
        <name>Frontier Real Estate Investment Corp</name>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
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        <name>Sino Land Co Ltd</name>
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        <name>Gaming and Leisure Properties Inc</name>
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        <name>Royal Bank of Canada</name>
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        <name>Agree Realty Corp</name>
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        <name>Assura PLC</name>
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        <name>Wharf Real Estate Investment Co Ltd</name>
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        <name>Host Hotels &amp; Resorts Inc</name>
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        <name>Japan Prime Realty Investment Corp</name>
        <lei>353800NJOQJAY1ODEX72</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
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        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="20CJKBCDVG7"/>
        </identifiers>
        <balance>1.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Royal Bank of Canada</counterpartyName>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Essex Property Trust Inc</name>
        <lei>549300TR2H2VEFX0NC60</lei>
        <title>Essex Property Trust Inc</title>
        <cusip>297178105</cusip>
        <identifiers>
          <isin value="US2971781057"/>
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        <balance>49664.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12122982.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Sumitomo Realty &amp; Development Co Ltd</name>
        <lei>N/A</lei>
        <title>Sumitomo Realty &amp; Development Co Ltd</title>
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          <isin value="JP3409000001"/>
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        <balance>153100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NIPPON REIT Investment Corp</name>
        <lei>3538004O49OJ90PEXX85</lei>
        <title>NIPPON REIT Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047750009"/>
        </identifiers>
        <balance>490.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>1454584.69000000</valUSD>
        <pctVal>0.263625318619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STORE Capital Corp</name>
        <lei>5493004EA6C9IHDZ7N66</lei>
        <title>STORE Capital Corp</title>
        <cusip>862121100</cusip>
        <identifiers>
          <isin value="US8621211007"/>
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        <balance>14513.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>291275.91000000</valUSD>
        <pctVal>0.052790122918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Montreal Exchange / Bourse De Montreal</name>
        <lei>N/A</lei>
        <title>S+P/TSX 60 IX FUT JUN20 XMOD 20200618</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1GZ9S6"/>
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        <balance>9.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39195000"/>
        <valUSD>209464.42000000</valUSD>
        <pctVal>0.037962811544</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>The Montreal Exchange / Bourse De Montreal</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P/TSX 60 Index</indexName>
                <indexIdentifier>PTM0 Index</indexIdentifier>
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            <expDate>2020-06-18</expDate>
            <notionalAmt>1307196.00000000</notionalAmt>
            <curCd>CAD</curCd>
            <unrealizedAppr>209464.42000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hong Kong Futures Exchange Ltd.</name>
        <lei>213800YTVSXYQN17BW16</lei>
        <title>HANG SENG IDX FUT MAY20 XHKF 20200528</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1LJ220"/>
        </identifiers>
        <balance>16.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
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        <pctVal>0.013463756409</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Hong Kong Futures Exchange Ltd.</counterpartyName>
              <counterpartyLei>213800YTVSXYQN17BW16</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Hang Seng Index</indexName>
                <indexIdentifier>HIK0 Index</indexIdentifier>
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            <expDate>2020-05-28</expDate>
            <notionalAmt>19025682.94000000</notionalAmt>
            <curCd>HKD</curCd>
            <unrealizedAppr>74287.91000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Singapore Exchange Derivatives Clearing Limited</name>
        <lei>549300ZLWT3FK3F0FW61</lei>
        <title>MSCI SING IX ETS  MAY20 XSIM 20200528</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1KK8Y2"/>
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        <balance>58.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="SGD" exchangeRt="1.41015000"/>
        <valUSD>35355.66000000</valUSD>
        <pctVal>0.006407772057</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Singapore Exchange Derivatives Clearing Limited</counterpartyName>
              <counterpartyLei>549300ZLWT3FK3F0FW61</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>MSCI Singapore Index</indexName>
                <indexIdentifier>QZK0 Index</indexIdentifier>
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            <expDate>2020-05-28</expDate>
            <notionalAmt>1679703.21000000</notionalAmt>
            <curCd>SGD</curCd>
            <unrealizedAppr>35355.66000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Viva Energy REIT</name>
        <lei>N/A</lei>
        <title>Viva Energy REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000VVR9"/>
        </identifiers>
        <balance>314444.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
        <valUSD>489038.67000000</valUSD>
        <pctVal>0.088632154650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Castellum AB</name>
        <lei>549300GU5OHTR1T5IY68</lei>
        <title>Castellum AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000379190"/>
        </identifiers>
        <balance>192696.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.75570000"/>
        <valUSD>3380443.39000000</valUSD>
        <pctVal>0.612663169006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED JPY / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20DTKBBX6QQ"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>-1057.31000000</valUSD>
        <pctVal>-0.00019162423</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="spot">
            <counterparties>
              <counterpartyName>Royal Bank of Canada</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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                  <other otherDesc="N/A" value="N/A"/>
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            </descRefInstrmnt>
            <terminationDt>2020-05-01</terminationDt>
            <notionalAmts>
              <notionalAmt amt="1.00000000" curCd="JPY"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-1057.31000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ventas Inc</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>Ventas Inc</title>
        <cusip>92276F100</cusip>
        <identifiers>
          <isin value="US92276F1003"/>
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        <balance>103209.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3338811.15000000</valUSD>
        <pctVal>0.605117845168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Argan SA</name>
        <lei>529900FXM41XSCUSGH04</lei>
        <title>ARGAN SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010481960"/>
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        <balance>17453.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <pctVal>0.246303667911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mapletree Logistics Trust</name>
        <lei>549300M9EBZIYH387075</lei>
        <title>Mapletree Logistics Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1S03926213"/>
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        <balance>3564600.00000000</balance>
        <units>NS</units>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VGP NV</name>
        <lei>315700NENYPIXFR94T49</lei>
        <title>VGP NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003878957"/>
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        <balance>6315.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Bank of New York Mellon</name>
        <lei>HPFHU0OQ28E4N0NFVK49</lei>
        <title>PURCHASED USD / SOLD SGD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20DUKBBVWS8"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <terminationDt>2020-05-04</terminationDt>
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              <notionalAmt amt="1.00000000" curCd="SGD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-180.00000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PSP Swiss Property AG</name>
        <lei>50670042Y437P8X44F56</lei>
        <title>PSP Swiss Property AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0018294154"/>
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        <balance>28976.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.96525000"/>
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        <pctVal>0.610864966602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fabege AB</name>
        <lei>549300JNPI46XNH0PM97</lei>
        <title>Fabege AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0011166974"/>
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        <balance>219885.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.75570000"/>
        <valUSD>2630175.99000000</valUSD>
        <pctVal>0.476686567757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Goodman Group</name>
        <lei>N/A</lei>
        <title>Goodman Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000GMG2"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America, National Association</name>
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          <other otherDesc="Trade Identifier" value="20DEKBCN7ZZ"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Bank of America, National Association</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Realty Income Corp</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corp</title>
        <cusip>756109104</cusip>
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          <isin value="US7561091049"/>
        </identifiers>
        <balance>127521.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aedifica SA</name>
        <lei>529900DTKNXL0AXQFN28</lei>
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        <cusip>000000000</cusip>
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          <isin value="BE0003851681"/>
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        <balance>21705.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</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>Japan Hotel REIT Investment Corp</name>
        <lei>353800L8KG849FP1JI68</lei>
        <title>Japan Hotel REIT Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046400002"/>
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        <balance>367.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</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>Allied Properties Real Estate Investment Trust</name>
        <lei>549300AMZMPKVHA0MY77</lei>
        <title>Allied Properties Real Estate Investment Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA0194561027"/>
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        <balance>76807.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39195000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mapletree Industrial Trust</name>
        <lei>549300R7WZFHXNKDJF41</lei>
        <title>Mapletree Industrial Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2C32962814"/>
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        <balance>1928100.00000000</balance>
        <units>NS</units>
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        <pctVal>0.627525600586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>SG</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>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED USD / SOLD JPY</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CJKBCDVG2"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>-514.26000000</valUSD>
        <pctVal>-0.00009320320</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Royal Bank of Canada</counterpartyName>
              <counterpartyLei>ES7IP3U3RHIGC71XBU11</counterpartyLei>
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            <settlementDt>2020-06-17</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Extra Space Storage Inc</name>
        <lei>N/A</lei>
        <title>Extra Space Storage Inc</title>
        <cusip>30225T102</cusip>
        <identifiers>
          <isin value="US30225T1025"/>
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        <balance>99774.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8804057.76000000</valUSD>
        <pctVal>1.595625574832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Daiwa House REIT Investment Corp</name>
        <lei>3538001FWU534P8JMO05</lei>
        <title>Daiwa House REIT Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046390005"/>
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        <balance>1286.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
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        <pctVal>0.562663291917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>DJ US REAL ESTATE JUN20 XCBT 20200619</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1KNKQ9"/>
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        <balance>735.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4505312.52000000</valUSD>
        <pctVal>0.816531657957</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Chicago Board of Trade</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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              <indexBasketInfo>
                <indexName>Dow Jones U.S. Real Estate Index</indexName>
                <indexIdentifier>DJEM0 Index</indexIdentifier>
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            <unrealizedAppr>4505312.52000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Keppel DC REIT</name>
        <lei>N/A</lei>
        <title>Keppel DC REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1AF6000009"/>
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        <balance>1552900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.41015000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Wohnen SE</name>
        <lei>529900QE24Q67I3FWZ10</lei>
        <title>Deutsche Wohnen SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A0HN5C6"/>
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        <balance>200765.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Global One Real Estate Investment Corp</name>
        <lei>N/A</lei>
        <title>Global One Real Estate Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3044520009"/>
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        <balance>2882.00000000</balance>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Swiss Prime Site AG</name>
        <lei>506700XI9H64OPR34158</lei>
        <title>Swiss Prime Site AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0008038389"/>
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        <balance>3709.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.96525000"/>
        <valUSD>352622.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Merlin Properties Socimi SA</name>
        <lei>959800L8KD863DP30X04</lei>
        <title>Merlin Properties Socimi SA</title>
        <cusip>000000000</cusip>
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          <isin value="ES0105025003"/>
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        <balance>23323.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vonovia SE</name>
        <lei>5299005A2ZEP6AP7KM81</lei>
        <title>Vonovia SE</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A1ML7J1"/>
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        <balance>255981.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City Developments Ltd</name>
        <lei>254900BPLPJS0RJ72373</lei>
        <title>City Developments Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="SG1R89002252"/>
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        <balance>234400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.41015000"/>
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        <pctVal>0.238878888771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citibank, National Association</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>PURCHASED CAD / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CHKBB60S0"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.39195000"/>
        <valUSD>-2908.71000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Canadian Apartment Properties REIT</name>
        <lei>549300B1MYVTQEB2DI90</lei>
        <title>Canadian Apartment Properties REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA1349211054"/>
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        <balance>101676.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.39195000"/>
        <valUSD>3498890.33000000</valUSD>
        <pctVal>0.634130198400</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citibank, National Association</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>PURCHASED HKD / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CHKBB60S8"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
        <valUSD>402.55000000</valUSD>
        <pctVal>0.000072957162</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank, National Association</counterpartyName>
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            <amtCurSold>253974.16000000</amtCurSold>
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            <amtCurPur>1973226.84000000</amtCurPur>
            <curPur>HKD</curPur>
            <settlementDt>2020-06-17</settlementDt>
            <unrealizedAppr>402.55000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Advance Residence Investment Corp</name>
        <lei>N/A</lei>
        <title>Advance Residence Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047160001"/>
        </identifiers>
        <balance>274.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>836916.76000000</valUSD>
        <pctVal>0.151680716172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alexandria Real Estate Equities Inc</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities Inc</title>
        <cusip>015271109</cusip>
        <identifiers>
          <isin value="US0152711091"/>
        </identifiers>
        <balance>56299.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8844009.91000000</valUSD>
        <pctVal>1.602866403328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Entra ASA</name>
        <lei>549300APU14LQKTYCH34</lei>
        <title>Entra ASA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010716418"/>
        </identifiers>
        <balance>114484.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.24505000"/>
        <valUSD>1445216.67000000</valUSD>
        <pctVal>0.261927481928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1372850.17000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Big Yellow Group PLC</name>
        <lei>213800W7Q4V2ZI8LIW31</lei>
        <title>Big Yellow Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002869419"/>
        </identifiers>
        <balance>98286.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79396600"/>
        <valUSD>1327763.44000000</valUSD>
        <pctVal>0.240640550067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medical Properties Trust Inc</name>
        <lei>254900U6E39J1MQCCY14</lei>
        <title>Medical Properties Trust Inc</title>
        <cusip>58463J304</cusip>
        <identifiers>
          <isin value="US58463J3041"/>
        </identifiers>
        <balance>391166.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6704585.24000000</valUSD>
        <pctVal>1.215122386655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New World Development Co Ltd</name>
        <lei>2549008GWMWXTIRL4S48</lei>
        <title>New World Development Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0017000149"/>
        </identifiers>
        <balance>9254000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
        <valUSD>10867904.76000000</valUSD>
        <pctVal>1.969672082193</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>CyrusOne Inc</name>
        <lei>5493006S177ZK2ZNBU43</lei>
        <title>CyrusOne Inc</title>
        <cusip>23283R100</cusip>
        <identifiers>
          <isin value="US23283R1005"/>
        </identifiers>
        <balance>20594.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1444669.10000000</valUSD>
        <pctVal>0.261828241700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sun Hung Kai Properties Ltd</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>Sun Hung Kai Properties Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0016000132"/>
        </identifiers>
        <balance>429500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
        <valUSD>5811749.68000000</valUSD>
        <pctVal>1.053307085973</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>Arima Real Estate SOCIMI SA</name>
        <lei>959800K5R280DP2B5694</lei>
        <title>Arima Real Estate SOCIMI SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0105376000"/>
        </identifiers>
        <balance>100466.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>1002162.70000000</valUSD>
        <pctVal>0.181629480161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prologis Inc</name>
        <lei>529900DFH19P073LZ636</lei>
        <title>Prologis Inc</title>
        <cusip>74340W103</cusip>
        <identifiers>
          <isin value="US74340W1036"/>
        </identifiers>
        <balance>361732.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32277346.36000000</valUSD>
        <pctVal>5.849866134877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aroundtown SA</name>
        <lei>529900H4DWG3KWMBMQ39</lei>
        <title>Aroundtown SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU1673108939"/>
        </identifiers>
        <balance>322638.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>1737513.62000000</valUSD>
        <pctVal>0.314902655601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Crown Castle International Corp</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp</title>
        <cusip>22822V101</cusip>
        <identifiers>
          <isin value="US22822V1017"/>
        </identifiers>
        <balance>15689.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2501297.27000000</valUSD>
        <pctVal>0.453328908449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITE Group PLC/The</name>
        <lei>213800BBUUWVDH9YI827</lei>
        <title>UNITE Group PLC/The</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0006928617"/>
        </identifiers>
        <balance>297216.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79396600"/>
        <valUSD>3279530.45000000</valUSD>
        <pctVal>0.594373958248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Scentre Group</name>
        <lei>N/A</lei>
        <title>Scentre Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SCG8"/>
        </identifiers>
        <balance>602146.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
        <valUSD>896681.81000000</valUSD>
        <pctVal>0.162512385484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Activia Properties Inc</name>
        <lei>353800RPGYN3ML8CXV54</lei>
        <title>Activia Properties Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047490002"/>
        </identifiers>
        <balance>2028.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>5910631.24000000</valUSD>
        <pctVal>1.071228134462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Swire Properties Ltd</name>
        <lei>5299001L12PHYVQ92465</lei>
        <title>Swire Properties Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0000063609"/>
        </identifiers>
        <balance>1525800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
        <valUSD>4287474.97000000</valUSD>
        <pctVal>0.777051321115</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>XYMAX REIT Investment Corp</name>
        <lei>N/A</lei>
        <title>XYMAX REIT Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3048690006"/>
        </identifiers>
        <balance>995.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>843926.14000000</valUSD>
        <pctVal>0.152951078804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brixmor Property Group Inc</name>
        <lei>5299007UXW6Y0W2EGZ95</lei>
        <title>Brixmor Property Group Inc</title>
        <cusip>11120U105</cusip>
        <identifiers>
          <isin value="US11120U1051"/>
        </identifiers>
        <balance>21587.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>247171.15000000</valUSD>
        <pctVal>0.044796685693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED USD / SOLD AUD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20DQKBB9QC9"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
        <valUSD>-9750.24000000</valUSD>
        <pctVal>-0.00176710929</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Royal Bank of Canada</counterpartyName>
              <counterpartyLei>ES7IP3U3RHIGC71XBU11</counterpartyLei>
            </counterparties>
            <amtCurSold>662411.90000000</amtCurSold>
            <curSold>AUD</curSold>
            <amtCurPur>421967.64000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-06-17</settlementDt>
            <unrealizedAppr>-9750.24000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mirvac Group</name>
        <lei>N/A</lei>
        <title>Mirvac Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MGR9"/>
        </identifiers>
        <balance>3613633.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
        <valUSD>5168634.03000000</valUSD>
        <pctVal>0.936750401920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Columbia Property Trust Inc</name>
        <lei>549300J5GYF2C9BGCC39</lei>
        <title>Columbia Property Trust Inc</title>
        <cusip>198287203</cusip>
        <identifiers>
          <isin value="US1982872038"/>
        </identifiers>
        <balance>14870.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>212492.30000000</valUSD>
        <pctVal>0.038511576999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitsui Fudosan Co Ltd</name>
        <lei>353800ND4ZKNZDYKMF33</lei>
        <title>Mitsui Fudosan Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3893200000"/>
        </identifiers>
        <balance>441200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>8146096.63000000</valUSD>
        <pctVal>1.476378332833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Life Storage Inc</name>
        <lei>W9EE01AFDDF9DQCQZC68</lei>
        <title>Life Storage Inc</title>
        <cusip>53223X107</cusip>
        <identifiers>
          <isin value="US53223X1072"/>
        </identifiers>
        <balance>48667.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4262742.53000000</valUSD>
        <pctVal>0.772568875081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Great Portland Estates PLC</name>
        <lei>213800JMEDD2Q4N1MC42</lei>
        <title>Great Portland Estates PLC</title>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SBA Communications Corp</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
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          <isin value="US78410G1040"/>
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        <balance>3357.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Empire State Realty Trust Inc</name>
        <lei>549300VOKY1DUEQSB456</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Royal Bank of Canada</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Healthcare Trust of America Inc</name>
        <lei>549300L0I14L7I0VLX84</lei>
        <title>Healthcare Trust of America Inc</title>
        <cusip>42225P501</cusip>
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          <isin value="US42225P5017"/>
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        <balance>90158.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Equity LifeStyle Properties Inc</name>
        <lei>529900PEQG66LENB6798</lei>
        <title>Equity LifeStyle Properties Inc</title>
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          <isin value="US29472R1086"/>
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        <balance>109780.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Digital Realty Trust Inc</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust Inc</title>
        <cusip>253868103</cusip>
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          <isin value="US2538681030"/>
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        <balance>129042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19290488.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Grainger PLC</name>
        <lei>2138007CEIRKZMNI2979</lei>
        <title>Grainger PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B04V1276"/>
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        <balance>732041.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79396600"/>
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        <pctVal>0.446795112883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Duke Realty Corp</name>
        <lei>N/A</lei>
        <title>Duke Realty Corp</title>
        <cusip>264411505</cusip>
        <identifiers>
          <isin value="US2644115055"/>
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        <balance>86941.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3016852.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Essential Properties Realty Trust Inc</name>
        <lei>N/A</lei>
        <title>Essential Properties Realty Trust Inc</title>
        <cusip>29670E107</cusip>
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          <isin value="US29670E1073"/>
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        <balance>140855.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2069159.95000000</valUSD>
        <pctVal>0.375009413232</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America, National Association</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>PURCHASED HKD / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20DEKBCN70B"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
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        <pctVal>0.000001839560</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Bank of America, National Association</counterpartyName>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Apple Hospitality REIT Inc</name>
        <lei>549300EVZAR0FBZO4F16</lei>
        <title>Apple Hospitality REIT Inc</title>
        <cusip>03784Y200</cusip>
        <identifiers>
          <isin value="US03784Y2000"/>
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        <balance>77858.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>753665.44000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Daiwa Securities Living Investments Corp</name>
        <lei>N/A</lei>
        <title>Daiwa Securities Living Investments Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046410001"/>
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        <balance>2472.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED CAD / SOLD USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="20CQKBCGMCG"/>
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        <balance>1.00000000</balance>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Royal Bank of Canada</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>VICI Properties Inc</name>
        <lei>254900RKH6RY9KCJQH63</lei>
        <title>VICI Properties Inc</title>
        <cusip>925652109</cusip>
        <identifiers>
          <isin value="US9256521090"/>
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        <balance>235346.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED AUD / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CHKBB0G7G"/>
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        <balance>1.00000000</balance>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>Nippon Building Fund Inc</name>
        <lei>52990053R8NL2MB32172</lei>
        <title>Nippon Building Fund Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3027670003"/>
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        <balance>449.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED JPY / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CQKBCGMCQ"/>
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        <balance>1.00000000</balance>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Royal Bank of Canada</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inmobiliaria Colonial Socimi SA</name>
        <lei>95980020140005007414</lei>
        <title>Inmobiliaria Colonial Socimi SA</title>
        <cusip>000000000</cusip>
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          <isin value="ES0139140174"/>
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        <balance>20231.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASX Clear (Futures)</name>
        <lei>549300ZD7BBOVZFVHK49</lei>
        <title>SPI 200 FUTURES   JUN20 XSFE 20200618</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1GZGS8"/>
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        <balance>14.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
        <valUSD>198838.24000000</valUSD>
        <pctVal>0.036036949057</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>ASX Clear (Futures)</counterpartyName>
              <counterpartyLei>549300ZD7BBOVZFVHK49</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P ASX Share Price Index 200</indexName>
                <indexIdentifier>XPM0 Index</indexIdentifier>
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            </descRefInstrmnt>
            <expDate>2020-06-18</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage</title>
        <cusip>74460D109</cusip>
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          <isin value="US74460D1090"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Retail Fund Investment Corp</name>
        <lei>353800QDHNIP60E1LQ93</lei>
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          <isin value="JP3039710003"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Catena AB</name>
        <lei>549300EMLM7AH5LDLY65</lei>
        <title>Catena AB</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Mori Trust Sogo Reit Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AZ. BGP HOLDINGS</name>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hang Lung Properties Ltd</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
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          <other otherDesc="Trade Identifier" value="20CHKBB0G8F"/>
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      <invstOrSec>
        <name>Highwoods Properties Inc</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="20CJKBCDVG0"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Royal Bank of Canada</counterpartyName>
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      <invstOrSec>
        <name>InterRent Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>InterRent Real Estate Investment Trust</title>
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          <isin value="CA46071W2058"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Derwent London PLC</name>
        <lei>213800BXKQ9KZNUR1M61</lei>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CapitaLand Ltd</name>
        <lei>2549006LYGY45GHGWZ89</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VEREIT Inc</name>
        <lei>5493002H54FNIBW75H44</lei>
        <title>VEREIT Inc</title>
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      <invstOrSec>
        <name>Hyatt Hotels Corp</name>
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        <name>Mitsui Fudosan Logistics Park Inc</name>
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      <invstOrSec>
        <name>Parkway Life Real Estate Investment Trust</name>
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        <name>Citibank, National Association</name>
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        <name>Equinix Inc</name>
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        <name>Regency Centers Corp</name>
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        <title>Regency Centers Corp</title>
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        <name>Russell Investments Trust Company Commingled Employee Benefit Funds Trust-U.S. Cash Collateral Fund</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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              <counterpartyName>Royal Bank of Canada</counterpartyName>
              <counterpartyLei>ES7IP3U3RHIGC71XBU11</counterpartyLei>
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            <amtCurSold>56658976.00000000</amtCurSold>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="20CHKBB0HCT"/>
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        <balance>1.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Royal Bank of Canada</counterpartyName>
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            <amtCurSold>218088.97000000</amtCurSold>
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            <unrealizedAppr>-2726.87000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CA Immobilien Anlagen AG</name>
        <lei>5299003ICAPV07J0R180</lei>
        <title>CA Immobilien Anlagen AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000641352"/>
        </identifiers>
        <balance>35053.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <pctVal>0.202671310028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Land Securities Group PLC</name>
        <lei>213800V8IAVKS37D6B88</lei>
        <title>Land Securities Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYW0PQ60"/>
        </identifiers>
        <balance>36343.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79396600"/>
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        <pctVal>0.054973774025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>British Land Co PLC/The</name>
        <lei>RV5B68J2GV3QGMRPW209</lei>
        <title>British Land Co PLC/The</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0001367019"/>
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        <balance>285003.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79396600"/>
        <valUSD>1453826.66000000</valUSD>
        <pctVal>0.263487935143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equity Residential</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>Equity Residential</title>
        <cusip>29476L107</cusip>
        <identifiers>
          <isin value="US29476L1070"/>
        </identifiers>
        <balance>237334.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15440950.04000000</valUSD>
        <pctVal>2.798479457446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EastGroup Properties Inc</name>
        <lei>31TIGQQZC4P6JMHKSW85</lei>
        <title>EastGroup Properties Inc</title>
        <cusip>277276101</cusip>
        <identifiers>
          <isin value="US2772761019"/>
        </identifiers>
        <balance>35909.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3806354.00000000</valUSD>
        <pctVal>0.689854150759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GDS Holdings Ltd</name>
        <lei>391200MGV8DDCHTN2R77</lei>
        <title>GDS Holdings Ltd</title>
        <cusip>36165L108</cusip>
        <identifiers>
          <isin value="US36165L1089"/>
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        <balance>24477.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1403021.64000000</valUSD>
        <pctVal>0.254280159428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Granite Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Granite Real Estate Investment Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA3874371147"/>
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        <balance>77575.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39195000"/>
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        <pctVal>0.642396802249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Urban &amp; Civic PLC</name>
        <lei>213800WL3TK2BJGFCY44</lei>
        <title>Urban &amp; Civic PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BKT04W07"/>
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        <balance>355022.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79396600"/>
        <valUSD>1020142.17000000</valUSD>
        <pctVal>0.184888034675</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Simon Property Group Inc</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>Simon Property Group Inc</title>
        <cusip>828806109</cusip>
        <identifiers>
          <isin value="US8288061091"/>
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        <balance>85199.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5688737.23000000</valUSD>
        <pctVal>1.031012614879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Klepierre SA</name>
        <lei>969500PB4U31KEFHZ621</lei>
        <title>Klepierre SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000121964"/>
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        <balance>83385.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>1688117.28000000</valUSD>
        <pctVal>0.305950185552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Homes 4 Rent</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>American Homes 4 Rent</title>
        <cusip>02665T306</cusip>
        <identifiers>
          <isin value="US02665T3068"/>
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        <balance>157553.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3803329.42000000</valUSD>
        <pctVal>0.689305983388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LondonMetric Property PLC</name>
        <lei>213800OCERWWPQDURL87</lei>
        <title>LondonMetric Property PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B4WFW713"/>
        </identifiers>
        <balance>598849.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79396600"/>
        <valUSD>1465419.85000000</valUSD>
        <pctVal>0.265589056122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sabra Health Care REIT Inc</name>
        <lei>549300E3BC7GU7TAZ621</lei>
        <title>Sabra Health Care REIT Inc</title>
        <cusip>78573L106</cusip>
        <identifiers>
          <isin value="US78573L1061"/>
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        <balance>66224.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>848991.68000000</valUSD>
        <pctVal>0.153869144700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Link REIT</name>
        <lei>529900XUE70U36QX5M62</lei>
        <title>Link REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0823032773"/>
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        <balance>1053900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
        <valUSD>9347580.09000000</valUSD>
        <pctVal>1.694132212780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shopping Centres Australasia Property Group</name>
        <lei>N/A</lei>
        <title>Shopping Centres Australasia Property Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SCP9"/>
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        <balance>884239.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
        <valUSD>1268740.52000000</valUSD>
        <pctVal>0.229943382554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Boardwalk Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Boardwalk Real Estate Investment Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA0966311064"/>
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        <balance>74331.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39195000"/>
        <valUSD>1419922.62000000</valUSD>
        <pctVal>0.257343251091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLP J-Reit</name>
        <lei>353800E27V9KA51K2I90</lei>
        <title>GLP J-Reit</title>
        <cusip>000000000</cusip>
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          <isin value="JP3047510007"/>
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        <balance>3447.00000000</balance>
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        <pctVal>0.800761621510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED USD / SOLD EUR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20DQKBB9QDF"/>
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        <balance>1.00000000</balance>
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        <valUSD>-12092.99000000</valUSD>
        <pctVal>-0.00219170349</pctVal>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Royal Bank of Canada</counterpartyName>
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            <amtCurPur>724685.95000000</amtCurPur>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UDR Inc</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR Inc</title>
        <cusip>902653104</cusip>
        <identifiers>
          <isin value="US9026531049"/>
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        <balance>145694.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5459154.18000000</valUSD>
        <pctVal>0.989403552772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Premier Investment Corp</name>
        <lei>N/A</lei>
        <title>Premier Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3041770003"/>
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        <balance>1212.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>1208163.30000000</valUSD>
        <pctVal>0.218964517567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED HKD / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CQKBCGMCN"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
        <valUSD>471.92000000</valUSD>
        <pctVal>0.000085529609</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Royal Bank of Canada</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Omega Healthcare Investors Inc</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>Omega Healthcare Investors Inc</title>
        <cusip>681936100</cusip>
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          <isin value="US6819361006"/>
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        <balance>177747.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kenedix Retail REIT Corp</name>
        <lei>353800IOH9ONLGE3AQ55</lei>
        <title>Kenedix Retail REIT Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047900000"/>
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        <balance>646.00000000</balance>
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        <pctVal>0.183045764369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Instone Real Estate Group AG</name>
        <lei>391200DINUIRPDZQHX03</lei>
        <title>Instone Real Estate Group AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A2NBX80"/>
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        <balance>49786.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>1009951.17000000</valUSD>
        <pctVal>0.183041043131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>alstria office REIT-AG</name>
        <lei>529900QIJIGPI0DRL085</lei>
        <title>alstria office REIT-AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A0LD2U1"/>
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        <balance>132508.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>1982922.50000000</valUSD>
        <pctVal>0.359379951854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ESR Cayman Ltd</name>
        <lei>549300C81AR42BZUFZ09</lei>
        <title>ESR Cayman Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG319891092"/>
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        <balance>819800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75250000"/>
        <valUSD>1799436.63000000</valUSD>
        <pctVal>0.326125428227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unibail-Rodamco-Westfield</name>
        <lei>N/A</lei>
        <title>Unibail-Rodamco-Westfield</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013326246"/>
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        <balance>9152.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>539404.12000000</valUSD>
        <pctVal>0.097760263790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>PURCHASED JPY / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20DIKBBZ7Q4"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>592.69000000</valUSD>
        <pctVal>0.000107417664</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Royal Bank of Canada</counterpartyName>
              <counterpartyLei>ES7IP3U3RHIGC71XBU11</counterpartyLei>
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            <amtCurSold>228231.89000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>24542049.00000000</amtCurPur>
            <curPur>JPY</curPur>
            <settlementDt>2020-06-17</settlementDt>
            <unrealizedAppr>592.69000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fastighets AB Balder</name>
        <lei>549300GHKJCEZOAEUU82</lei>
        <title>Fastighets AB Balder</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000455057"/>
        </identifiers>
        <balance>87746.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.75570000"/>
        <valUSD>3463229.65000000</valUSD>
        <pctVal>0.627667145275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Citibank, National Association</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>PURCHASED SGD / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CHKBB60NQ"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="SGD" exchangeRt="1.41015000"/>
        <valUSD>-2750.17000000</valUSD>
        <pctVal>-0.00049843398</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Citibank, National Association</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <amtCurSold>211898.56000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>294878.04000000</amtCurPur>
            <curPur>SGD</curPur>
            <settlementDt>2020-06-17</settlementDt>
            <unrealizedAppr>-2750.17000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citibank, National Association</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>PURCHASED EUR / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CHKBB60Q1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>-36394.91000000</valUSD>
        <pctVal>-0.00659612314</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Citibank, National Association</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <amtCurSold>1192447.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1054036.23000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-06-17</settlementDt>
            <unrealizedAppr>-36394.91000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mori Hills REIT Investment Corp</name>
        <lei>N/A</lei>
        <title>Mori Hills REIT Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046470005"/>
        </identifiers>
        <balance>543.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
        <valUSD>696102.58000000</valUSD>
        <pctVal>0.126159903720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Russell Investments Trust Company Commingled Employee Benefit Funds Trust-U.S. Cash Management Fund</name>
        <lei>845SLB3N6EI7ZN7PZ398</lei>
        <title>U.S. Cash Management Fund</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="76699C919"/>
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        <balance>34825033.11000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34825033.11000000</valUSD>
        <pctVal>6.311602557533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Charter Hall Group</name>
        <lei>N/A</lei>
        <title>Charter Hall Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CHC0"/>
        </identifiers>
        <balance>370119.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
        <valUSD>1819905.02000000</valUSD>
        <pctVal>0.329835068423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Standard Chartered Bank</name>
        <lei>RILFO74KP1CM8P6PCT96</lei>
        <title>PURCHASED CAD / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20DDKBCFMC1"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39195000"/>
        <valUSD>2366.82000000</valUSD>
        <pctVal>0.000428956581</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Standard Chartered Bank</counterpartyName>
              <counterpartyLei>RILFO74KP1CM8P6PCT96</counterpartyLei>
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            <amtCurSold>180232.72000000</amtCurSold>
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            <amtCurPur>254146.16000000</amtCurPur>
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            <settlementDt>2020-06-17</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Daibiru Corp</name>
        <lei>N/A</lei>
        <title>Daibiru Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3497200000"/>
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        <balance>133500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="107.31500000"/>
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        <pctVal>0.223423815945</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GPT Group/The</name>
        <lei>N/A</lei>
        <title>GPT Group/The</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000GPT8"/>
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        <balance>1205778.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.53456600"/>
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        <pctVal>0.592416129088</pctVal>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gecina SA</name>
        <lei>9695003E4MMA10IBTR26</lei>
        <title>Gecina SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010040865"/>
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        <balance>34345.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
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        <pctVal>0.813103682611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Park Hotels &amp; Resorts Inc</name>
        <lei>5493005UZ5TQN0H6HS73</lei>
        <title>Park Hotels &amp; Resorts Inc</title>
        <cusip>700517105</cusip>
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          <isin value="US7005171050"/>
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        <balance>33991.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>323254.41000000</valUSD>
        <pctVal>0.058585826880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sun Communities Inc</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>Sun Communities Inc</title>
        <cusip>866674104</cusip>
        <identifiers>
          <isin value="US8666741041"/>
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        <balance>4786.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>643238.40000000</valUSD>
        <pctVal>0.116578930958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America, National Association</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>PURCHASED EUR / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20CTKBB8TQ1"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91253400"/>
        <valUSD>-11298.02000000</valUSD>
        <pctVal>-0.00204762510</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Bank of America, National Association</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>638748.58000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>572081.16000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-06-17</settlementDt>
            <unrealizedAppr>-11298.02000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-05-29</ncom:dateSigned>
      <ncom:nameOfApplicant>RUSSELL INVESTMENT CO</ncom:nameOfApplicant>
      <ncom:signature>Mark Swanson</ncom:signature>
      <ncom:signerName>Mark Swanson</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
