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      <regStreet1>225 Pictoria Drive</regStreet1>
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      <regZipOrPostalCode>45246</regZipOrPostalCode>
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      <repPdEnd>2025-12-31</repPdEnd>
      <repPdDate>2025-06-30</repPdDate>
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      <totLiabs>93934.88</totLiabs>
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      <assetsInvested>0.00000000</assetsInvested>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Scandinavian Tobacco Group A/s</name>
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        <title>Scandinavian Tobacco Group A/S </title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TOA Corp (CONST)</name>
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        <name>AGL Energy Ltd.</name>
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        <name>Eagle Hospitality Trust</name>
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        <name>Paz Retail &amp; Energy Ltd.</name>
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        <name>Friedrich Vorwerk Group SE</name>
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        <name>ISS A/S</name>
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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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jet2 PLC</name>
        <lei>I72RQ3PNLDPW8R7JIJ56</lei>
        <title>DART GROUP PLC </title>
        <cusip>G5112P101</cusip>
        <identifiers>
          <isin value="GB00B1722W11"/>
        </identifiers>
        <balance>12786.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>324253.20000000</valUSD>
        <pctVal>0.378047040868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global one Real Estate Investment</name>
        <lei>N/A</lei>
        <title>GLOBAL ONE REAL ESTATE INVESTMENT COMPANY LTD. </title>
        <cusip>J1727U103</cusip>
        <identifiers>
          <isin value="JP3044520009"/>
        </identifiers>
        <balance>283.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>268444.56000000</valUSD>
        <pctVal>0.312979707047</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>Draegerwerk AG &amp; Co. KGaA</name>
        <lei>5493005UFVHY0PPNKD75</lei>
        <title>Draegerwerk AG &amp; Co KGaA </title>
        <cusip>D22938118</cusip>
        <identifiers>
          <isin value="DE0005550636"/>
        </identifiers>
        <balance>6468.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>512244.95000000</valUSD>
        <pctVal>0.597226758432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Per Aarsleff Holding A/S</name>
        <lei>5493008HS8STXVZXYZ63</lei>
        <title>PER AARSLEFF Holding A/S </title>
        <cusip>K7627X145</cusip>
        <identifiers>
          <isin value="DK0060700516"/>
        </identifiers>
        <balance>1408.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.33358000"/>
        <valUSD>146244.49000000</valUSD>
        <pctVal>0.170506556875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Magic Software Enterprises Ltd.</name>
        <lei>529900PT36UHAIVEFN60</lei>
        <title>Magic Software Enterprises Ltd. </title>
        <cusip>559166103</cusip>
        <identifiers>
          <isin value="IL0010823123"/>
        </identifiers>
        <balance>6579.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>126005.75000000</valUSD>
        <pctVal>0.146910195242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IS</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H Lundbeck A S</name>
        <lei>5493006R4KC2OI5D3470</lei>
        <title>H Lundbeck A/S </title>
        <cusip>K4406L137</cusip>
        <identifiers>
          <isin value="DK0061804770"/>
        </identifiers>
        <balance>69288.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.33358000"/>
        <valUSD>398043.27000000</valUSD>
        <pctVal>0.464078936957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EFG International AG</name>
        <lei>506700PR1R98BSF81139</lei>
        <title>EFG INTERNATIONAL AG </title>
        <cusip>H2078C108</cusip>
        <identifiers>
          <isin value="CH0022268228"/>
        </identifiers>
        <balance>4355.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>80688.81000000</valUSD>
        <pctVal>0.094075142054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San-A Co Ltd</name>
        <lei>N/A</lei>
        <title>San-A Company Ltd. </title>
        <cusip>J6694V109</cusip>
        <identifiers>
          <isin value="JP3324500002"/>
        </identifiers>
        <balance>12971.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>265768.18000000</valUSD>
        <pctVal>0.309859313666</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>Kemira Oyj</name>
        <lei>74370031Y7RK5H88CQ48</lei>
        <title>Kemira OYJ </title>
        <cusip>X44073108</cusip>
        <identifiers>
          <isin value="FI0009004824"/>
        </identifiers>
        <balance>5884.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>136439.23000000</valUSD>
        <pctVal>0.159074597135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nine Entertainment Co Holdings Ltd.</name>
        <lei>529900WLXD3X7TFOAI42</lei>
        <title>Nine Entertainment Company Holdings Ltd. </title>
        <cusip>Q6813N105</cusip>
        <identifiers>
          <isin value="AU000000NEC4"/>
        </identifiers>
        <balance>82131.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>87826.44000000</valUSD>
        <pctVal>0.102396910044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Johnson Electric Holdings Ltd.</name>
        <lei>529900EDYRQ6K25JEC80</lei>
        <title>Johnson Electric Holdings Limited </title>
        <cusip>G5150J157</cusip>
        <identifiers>
          <isin value="BMG5150J1577"/>
        </identifiers>
        <balance>49500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>136582.38000000</valUSD>
        <pctVal>0.159241495824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Toyoda Gosei Co Ltd</name>
        <lei>353800ZV4HXVM4DWPO50</lei>
        <title>Toyoda Gosei Company Ltd. </title>
        <cusip>J91128108</cusip>
        <identifiers>
          <isin value="JP3634200004"/>
        </identifiers>
        <balance>5800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>114088.46000000</valUSD>
        <pctVal>0.133015818194</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>Daishi Hokuetsu Financial Group Inc</name>
        <lei>N/A</lei>
        <title>Daishi Hokuetsu Financial Group, Inc. </title>
        <cusip>J10795102</cusip>
        <identifiers>
          <isin value="JP3483850008"/>
        </identifiers>
        <balance>10100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>233184.39000000</valUSD>
        <pctVal>0.271869849291</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>Mitsui DM Sugar Co Ltd.</name>
        <lei>N/A</lei>
        <title>Mitsui Sugar Co., Ltd. </title>
        <cusip>J4517A105</cusip>
        <identifiers>
          <isin value="JP3890400009"/>
        </identifiers>
        <balance>5500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>116746.82000000</valUSD>
        <pctVal>0.136115202045</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>Heiwado Co Ltd</name>
        <lei>N/A</lei>
        <title>Heiwado Co., Ltd. </title>
        <cusip>J19236108</cusip>
        <identifiers>
          <isin value="JP3834400008"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>117790.54000000</valUSD>
        <pctVal>0.137332075949</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>Sopra Steria Group SA</name>
        <lei>96950020QIOHAAK9V551</lei>
        <title>Sopra Steria Group </title>
        <cusip>F20906115</cusip>
        <identifiers>
          <isin value="FR0000050809"/>
        </identifiers>
        <balance>2012.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>490515.61000000</valUSD>
        <pctVal>0.571892505179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bilfinger SE</name>
        <lei>529900H0HULEN2BZ4604</lei>
        <title>Bilfinger SE </title>
        <cusip>D11648108</cusip>
        <identifiers>
          <isin value="DE0005909006"/>
        </identifiers>
        <balance>6460.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>621773.77000000</valUSD>
        <pctVal>0.724926489046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H Lundbeck A S</name>
        <lei>5493006R4KC2OI5D3470</lei>
        <title>H Lundbeck A/S </title>
        <cusip>K4406L145</cusip>
        <identifiers>
          <isin value="DK0061804697"/>
        </identifiers>
        <balance>28738.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.33358000"/>
        <valUSD>138777.48000000</valUSD>
        <pctVal>0.161800764505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DNO ASA</name>
        <lei>5967007LIEEXZXH3K072</lei>
        <title>DNO ASA </title>
        <cusip>R6007G105</cusip>
        <identifiers>
          <isin value="NO0003921009"/>
        </identifiers>
        <balance>53553.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>68256.07000000</valUSD>
        <pctVal>0.079579801478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yangzijiang Financial Holding Ltd</name>
        <lei>984500E58A4F80AFB647</lei>
        <title>Yangzijiang Financial Holding Pte Ltd. </title>
        <cusip>Y972TH104</cusip>
        <identifiers>
          <isin value="SGXE77102635"/>
        </identifiers>
        <balance>437200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.27154000"/>
        <valUSD>254714.72000000</valUSD>
        <pctVal>0.296972076641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Persol Holdings Co Ltd.</name>
        <lei>3538000H6OI725NB2008</lei>
        <title>PERSOL HOLDINGS CO </title>
        <cusip>J6367Q106</cusip>
        <identifiers>
          <isin value="JP3547670004"/>
        </identifiers>
        <balance>272500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>531745.03000000</valUSD>
        <pctVal>0.619961915836</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>Japan Hotel REIT Investment Corporation</name>
        <lei>353800L8KG849FP1JI68</lei>
        <title>Japan Hotel REIT Investment Corporation </title>
        <cusip>J2761Q107</cusip>
        <identifiers>
          <isin value="JP3046400002"/>
        </identifiers>
        <balance>567.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>299596.08000000</valUSD>
        <pctVal>0.349299286791</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>Aoki Holdings Inc</name>
        <lei>N/A</lei>
        <title>AOKI Holdings Inc </title>
        <cusip>J01638105</cusip>
        <identifiers>
          <isin value="JP3105400000"/>
        </identifiers>
        <balance>16253.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>188202.06000000</valUSD>
        <pctVal>0.219424918145</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>Yue Yuen Industrial (Holdings) Limited</name>
        <lei>254900YUFIBANZ1XU687</lei>
        <title>Yue Yuen Industrial Holdings Ltd. </title>
        <cusip>G98803144</cusip>
        <identifiers>
          <isin value="BMG988031446"/>
        </identifiers>
        <balance>193000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>296078.33000000</valUSD>
        <pctVal>0.345197939517</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>KDX Realty Investment Corporation</name>
        <lei>353800FFT483NCIHFY42</lei>
        <title>KENEDIX REALTY INVESTMENT CORPORATION </title>
        <cusip>J32922106</cusip>
        <identifiers>
          <isin value="JP3046270009"/>
        </identifiers>
        <balance>476.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>516411.36000000</valUSD>
        <pctVal>0.602084378871</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>Taiheiyo Cement Corp</name>
        <lei>N/A</lei>
        <title>TAIHEIYO CEMENT CORP </title>
        <cusip>J7923L128</cusip>
        <identifiers>
          <isin value="JP3449020001"/>
        </identifiers>
        <balance>6700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>166206.71000000</valUSD>
        <pctVal>0.193780523640</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>ITV PLC</name>
        <lei>ZLECI7ED2QMWFGYCXZ59</lei>
        <title>ITV PLC </title>
        <cusip>G4984A110</cusip>
        <identifiers>
          <isin value="GB0033986497"/>
        </identifiers>
        <balance>309625.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>350751.80000000</valUSD>
        <pctVal>0.408941777812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nomura Co Ltd</name>
        <lei>N/A</lei>
        <title>Nomura Company Ltd. </title>
        <cusip>J58988106</cusip>
        <identifiers>
          <isin value="JP3762400004"/>
        </identifiers>
        <balance>26600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>169932.03000000</valUSD>
        <pctVal>0.198123876927</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>NCC AB</name>
        <lei>213800WRGLW3CY4MHW53</lei>
        <title>NCC A.B. </title>
        <cusip>W5691F104</cusip>
        <identifiers>
          <isin value="SE0000117970"/>
        </identifiers>
        <balance>4687.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>87714.42000000</valUSD>
        <pctVal>0.102266305845</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>Kh Neochem Co Ltd</name>
        <lei>N/A</lei>
        <title>KH Neochem Company Ltd. </title>
        <cusip>J330C4109</cusip>
        <identifiers>
          <isin value="JP3277040006"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>105067.44000000</valUSD>
        <pctVal>0.122498204439</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>Acom Co., Ltd.</name>
        <lei>N/A</lei>
        <title>ACOM CO LTD </title>
        <cusip>J00105106</cusip>
        <identifiers>
          <isin value="JP3108600002"/>
        </identifiers>
        <balance>147200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>435803.12000000</valUSD>
        <pctVal>0.508103173437</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>Construcciones Y Auxiliar De Ferrocarriles SA</name>
        <lei>95980020140005275134</lei>
        <title>Construcciones y Auxiliar de Ferrocarriles, S.A. </title>
        <cusip>E31774156</cusip>
        <identifiers>
          <isin value="ES0121975009"/>
        </identifiers>
        <balance>1621.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>89212.58000000</valUSD>
        <pctVal>0.104013011675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MPC Container Ships ASA</name>
        <lei>213800MXS7CXYJ2Q1805</lei>
        <title>MPC Container Ships A/S </title>
        <cusip>R4S03Q110</cusip>
        <identifiers>
          <isin value="NO0010791353"/>
        </identifiers>
        <balance>165898.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>262878.92000000</valUSD>
        <pctVal>0.306490723338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Helia Group Ltd.</name>
        <lei>529900RUQ2G0JXJOF423</lei>
        <title>Helia Group Ltd. </title>
        <cusip>Q3983N155</cusip>
        <identifiers>
          <isin value="AU0000251498"/>
        </identifiers>
        <balance>144048.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>534015.63000000</valUSD>
        <pctVal>0.622609210022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ai Holdings Corporation</name>
        <lei>N/A</lei>
        <title>Ai Holdings Corporation </title>
        <cusip>J0060P101</cusip>
        <identifiers>
          <isin value="JP3105090009"/>
        </identifiers>
        <balance>15400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>250529.79000000</valUSD>
        <pctVal>0.292092863721</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>Cyber Agent</name>
        <lei>3538006T5KZABPGS8Q08</lei>
        <title>CyberAgent, Inc. </title>
        <cusip>J1046G108</cusip>
        <identifiers>
          <isin value="JP3311400000"/>
        </identifiers>
        <balance>12100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>138224.70000000</valUSD>
        <pctVal>0.161156277902</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>Solvay NV/SA</name>
        <lei>549300MMVL80RTBP3O28</lei>
        <title>SOLVAY SA - RECLAIM </title>
        <cusip>B82095116</cusip>
        <identifiers>
          <isin value="BE0003470755"/>
        </identifiers>
        <balance>11705.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>405392.23000000</valUSD>
        <pctVal>0.472647094747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cromwell Property Group</name>
        <lei>N/A</lei>
        <title>Cromwell Property Group </title>
        <cusip>Q2995J103</cusip>
        <identifiers>
          <isin value="AU000000CMW8"/>
        </identifiers>
        <balance>861221.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>193065.07000000</valUSD>
        <pctVal>0.225094705028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Partner Communications Company Ltd.</name>
        <lei>529900P1P6RZ1NC37U33</lei>
        <title>Partner Communications Company Ltd. </title>
        <cusip>M78465107</cusip>
        <identifiers>
          <isin value="IL0010834849"/>
        </identifiers>
        <balance>13066.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>99231.22000000</valUSD>
        <pctVal>0.115693751311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ceconomy AG</name>
        <lei>5299001X9L42HXEBCZ51</lei>
        <title>CECONOMY AG </title>
        <cusip>D1497L107</cusip>
        <identifiers>
          <isin value="DE0007257503"/>
        </identifiers>
        <balance>121280.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>517590.61000000</valUSD>
        <pctVal>0.603459267300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SSAB AB</name>
        <lei>529900329VS14ZIML164</lei>
        <title>SSAB AB </title>
        <cusip>W8615U108</cusip>
        <identifiers>
          <isin value="SE0000120669"/>
        </identifiers>
        <balance>5737.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>33961.01000000</valUSD>
        <pctVal>0.039595166170</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>Koninklijke Heijmans NV</name>
        <lei>724500OUE3PCA809DZ79</lei>
        <title>Koninklijke Heijmans N.V </title>
        <cusip>N3928R264</cusip>
        <identifiers>
          <isin value="NL0009269109"/>
        </identifiers>
        <balance>5828.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>377475.55000000</valUSD>
        <pctVal>0.440099017304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cawachi Limited</name>
        <lei>N/A</lei>
        <title>Cawachi Limited </title>
        <cusip>J0535K109</cusip>
        <identifiers>
          <isin value="JP3226450009"/>
        </identifiers>
        <balance>6549.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>125391.13000000</valUSD>
        <pctVal>0.146193609338</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>Getinge AB</name>
        <lei>5493003PZ4F570G3W735</lei>
        <title>GETINGE AB-B SHS </title>
        <cusip>W3443C107</cusip>
        <identifiers>
          <isin value="SE0000202624"/>
        </identifiers>
        <balance>1862.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>37411.76000000</valUSD>
        <pctVal>0.043618398096</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>Target Healthcare REIT PLC</name>
        <lei>213800RXPY9WULUSBC04</lei>
        <title>Target Healthcare REIT plc </title>
        <cusip>G8672Z105</cusip>
        <identifiers>
          <isin value="GB00BJGTLF51"/>
        </identifiers>
        <balance>167416.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>239187.77000000</valUSD>
        <pctVal>0.278869194384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indra Sistemas S.A.</name>
        <lei>95980020140005308793</lei>
        <title>Indra Sistemas S.A. </title>
        <cusip>E6271Z155</cusip>
        <identifiers>
          <isin value="ES0118594417"/>
        </identifiers>
        <balance>1187.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>51495.50000000</valUSD>
        <pctVal>0.060038640769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Resources Ltd.</name>
        <lei>5493007RRD817HUP4O49</lei>
        <title>First Resources Ltd. </title>
        <cusip>Y2560F107</cusip>
        <identifiers>
          <isin value="SG1W35938974"/>
        </identifiers>
        <balance>256914.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.27154000"/>
        <valUSD>296866.45000000</valUSD>
        <pctVal>0.346116809196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gamma Communications Plc</name>
        <lei>213800LAQZXPRIZUEH50</lei>
        <title>Gamma Communications PLC </title>
        <cusip>G371B3109</cusip>
        <identifiers>
          <isin value="GB00BQS10J50"/>
        </identifiers>
        <balance>2531.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>39533.85000000</valUSD>
        <pctVal>0.046092544365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sixt SE</name>
        <lei>5299004ZME6CSBR7WP07</lei>
        <title>Sixt SE </title>
        <cusip>D6989S106</cusip>
        <identifiers>
          <isin value="DE0007231334"/>
        </identifiers>
        <balance>5548.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>389794.41000000</valUSD>
        <pctVal>0.454461585105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cairn Homes PLC</name>
        <lei>635400DPX6WP2KKDOA83</lei>
        <title>Cairn Homes PLC </title>
        <cusip>G1858L107</cusip>
        <identifiers>
          <isin value="IE00BWY4ZF18"/>
        </identifiers>
        <balance>16616.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>41980.35000000</valUSD>
        <pctVal>0.048944920488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Attendo Ab</name>
        <lei>549300KEJDL2FNITUW65</lei>
        <title>Attendo A.B. </title>
        <cusip>W1R94Z285</cusip>
        <identifiers>
          <isin value="SE0007666110"/>
        </identifiers>
        <balance>58450.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>392660.23000000</valUSD>
        <pctVal>0.457802846720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aisan Industry Co</name>
        <lei>N/A</lei>
        <title>Aisan Industry Co Ltd </title>
        <cusip>J00672105</cusip>
        <identifiers>
          <isin value="JP3101600009"/>
        </identifiers>
        <balance>14400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>167740.72000000</valUSD>
        <pctVal>0.195569027010</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>SBS Holdings Inc</name>
        <lei>N/A</lei>
        <title>SBS Holdings, Inc. </title>
        <cusip>J6985F102</cusip>
        <identifiers>
          <isin value="JP3163500006"/>
        </identifiers>
        <balance>6900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>139025.20000000</valUSD>
        <pctVal>0.162089581432</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>Wallenius Wilhelmsen ASA</name>
        <lei>549300NBN0URT3RA3Y54</lei>
        <title>Wallenius Wilhelmsen ASA </title>
        <cusip>R9820L103</cusip>
        <identifiers>
          <isin value="NO0010571680"/>
        </identifiers>
        <balance>52928.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>435211.69000000</valUSD>
        <pctVal>0.507413624772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Quadient SA</name>
        <lei>549300K4W3A5ITOPTK67</lei>
        <title>Quadient </title>
        <cusip>F7488R100</cusip>
        <identifiers>
          <isin value="FR0000120560"/>
        </identifiers>
        <balance>8350.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>156512.65000000</valUSD>
        <pctVal>0.182478212060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inghams Group Ltd.</name>
        <lei>529900ZZ4VRHSGVBNE41</lei>
        <title>Inghams Group Limited </title>
        <cusip>Q4912E100</cusip>
        <identifiers>
          <isin value="AU000000ING6"/>
        </identifiers>
        <balance>121298.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>283431.53000000</valUSD>
        <pctVal>0.330453026231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TBC Bank Group PLC</name>
        <lei>213800T6NS9N2WQ3B328</lei>
        <title>TBC BANK GROUP PLC </title>
        <cusip>G8705J102</cusip>
        <identifiers>
          <isin value="GB00BYT18307"/>
        </identifiers>
        <balance>2919.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>185967.55000000</valUSD>
        <pctVal>0.216819701317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sakata Inx Corp</name>
        <lei>N/A</lei>
        <title>Sakata Inx Corp. N.P.V. </title>
        <cusip>J66661125</cusip>
        <identifiers>
          <isin value="JP3314800008"/>
        </identifiers>
        <balance>23400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>315594.38000000</valUSD>
        <pctVal>0.367951716355</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>Koninklijke Bam Groep NV</name>
        <lei>724500V38C5KTDY5BS93</lei>
        <title>Koninklijke BAM Groep NV </title>
        <cusip>N0157T177</cusip>
        <identifiers>
          <isin value="NL0000337319"/>
        </identifiers>
        <balance>113311.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>1010692.47000000</valUSD>
        <pctVal>1.178367083229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yamabiko Corporation</name>
        <lei>N/A</lei>
        <title>YAMABIKO Corporation </title>
        <cusip>J95558102</cusip>
        <identifiers>
          <isin value="JP3943000004"/>
        </identifiers>
        <balance>18400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>270310.79000000</valUSD>
        <pctVal>0.315155545957</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>PAX Global Technology Ltd.</name>
        <lei>5299008CRGPD1WZXCD36</lei>
        <title>PAX Global Technology Ltd </title>
        <cusip>G6955J103</cusip>
        <identifiers>
          <isin value="BMG6955J1036"/>
        </identifiers>
        <balance>45000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>34681.71000000</valUSD>
        <pctVal>0.040435430823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Just Group PLC</name>
        <lei>5493006456YEZEELRR90</lei>
        <title>Just Group PLC </title>
        <cusip>G9331B109</cusip>
        <identifiers>
          <isin value="GB00BCRX1J15"/>
        </identifiers>
        <balance>315157.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>573783.78000000</valUSD>
        <pctVal>0.668974924927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EasyJet PLC</name>
        <lei>2138001S47XKWIB7TH90</lei>
        <title>easyJet plc </title>
        <cusip>G3030S109</cusip>
        <identifiers>
          <isin value="GB00B7KR2P84"/>
        </identifiers>
        <balance>57874.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>423515.50000000</valUSD>
        <pctVal>0.493777028374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco di Desio e della Brianza S.p.A.</name>
        <lei>81560026D234790EB288</lei>
        <title>Banco di Desio e della Brianza SpA </title>
        <cusip>T1719F105</cusip>
        <identifiers>
          <isin value="IT0001041000"/>
        </identifiers>
        <balance>4284.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>35829.82000000</valUSD>
        <pctVal>0.041774013104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Greencore Group PLC</name>
        <lei>635400GGBEWULJXM5868</lei>
        <title>Greencore Group plc </title>
        <cusip>G40866124</cusip>
        <identifiers>
          <isin value="IE0003864109"/>
        </identifiers>
        <balance>99790.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>319822.18000000</valUSD>
        <pctVal>0.372880911439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eagle Industry Co Ltd.</name>
        <lei>N/A</lei>
        <title>Eagle Industry Company, Ltd. </title>
        <cusip>J12558110</cusip>
        <identifiers>
          <isin value="JP3130400009"/>
        </identifiers>
        <balance>14600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>194362.81000000</valUSD>
        <pctVal>0.226607741035</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>Nok Corporation</name>
        <lei>N/A</lei>
        <title>NOK Corporation </title>
        <cusip>J54967104</cusip>
        <identifiers>
          <isin value="JP3164800009"/>
        </identifiers>
        <balance>15300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>225696.92000000</valUSD>
        <pctVal>0.263140202592</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>Galenica AG</name>
        <lei>506700W4772BD8016Z20</lei>
        <title>Galenica AG </title>
        <cusip>H85158113</cusip>
        <identifiers>
          <isin value="CH0360674466"/>
        </identifiers>
        <balance>393.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>43010.01000000</valUSD>
        <pctVal>0.050145401828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Austevoll Seafood ASA</name>
        <lei>5967007LIEEXZXFFDC03</lei>
        <title>Austevoll Seafood ASA </title>
        <cusip>R0814U100</cusip>
        <identifiers>
          <isin value="NO0010073489"/>
        </identifiers>
        <balance>40029.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>385318.65000000</valUSD>
        <pctVal>0.449243293278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charter Hall Group</name>
        <lei>N/A</lei>
        <title>Charter Hall Group </title>
        <cusip>Q2308A138</cusip>
        <identifiers>
          <isin value="AU000000CHC0"/>
        </identifiers>
        <balance>5189.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>65756.04000000</valUSD>
        <pctVal>0.076665014689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CapitaLand China Trust</name>
        <lei>5493007T7JU82E186P49</lei>
        <title>CapitaLand Retail China Trust </title>
        <cusip>Y1092E109</cusip>
        <identifiers>
          <isin value="SG1U25933169"/>
        </identifiers>
        <balance>63000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.27154000"/>
        <valUSD>34950.55000000</valUSD>
        <pctVal>0.040748871573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mizuho Leasing Company Limited</name>
        <lei>353800O6EEA5GK30Z659</lei>
        <title>Mizuho Leasing Company Ltd. </title>
        <cusip>J2308V106</cusip>
        <identifiers>
          <isin value="JP3286500008"/>
        </identifiers>
        <balance>15200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>112758.97000000</valUSD>
        <pctVal>0.131465764840</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>Shibaura Mechatronics Corporation</name>
        <lei>N/A</lei>
        <title>Shibaura Mechatronics Corporation </title>
        <cusip>J71585103</cusip>
        <identifiers>
          <isin value="JP3355000005"/>
        </identifiers>
        <balance>6200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>466984.65000000</valUSD>
        <pctVal>0.544457741862</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>Nippon Ceramic Co Ltd</name>
        <lei>N/A</lei>
        <title>Nippon Ceramic Co., Ltd. </title>
        <cusip>J52344108</cusip>
        <identifiers>
          <isin value="JP3725200004"/>
        </identifiers>
        <balance>16800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>326712.94000000</valUSD>
        <pctVal>0.380914853517</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>Nippon Densetsu Kogyo Co Ltd</name>
        <lei>N/A</lei>
        <title>Nippon Densetsu Kogyo Company Ltd. </title>
        <cusip>J52989100</cusip>
        <identifiers>
          <isin value="JP3736200001"/>
        </identifiers>
        <balance>17000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>302327.45000000</valUSD>
        <pctVal>0.352483793053</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>Cibus Nordic Real Estate AB</name>
        <lei>549300PW36MFK96GCR23</lei>
        <title>Cibus Nordic Real Estate A.B. </title>
        <cusip>W24214103</cusip>
        <identifiers>
          <isin value="SE0010832204"/>
        </identifiers>
        <balance>13018.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>257327.39000000</valUSD>
        <pctVal>0.300018190488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Karoon Energy Ltd.</name>
        <lei>529900VXILHR2CNBWD62</lei>
        <title>Karoon Energy Ltd. </title>
        <cusip>Q5210P101</cusip>
        <identifiers>
          <isin value="AU000000KAR6"/>
        </identifiers>
        <balance>188086.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>237355.15000000</valUSD>
        <pctVal>0.276732541398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Lifeline Co Ltd</name>
        <lei>353800QUW6LROZVA6765</lei>
        <title>Japan Lifeline Company Ltd. </title>
        <cusip>J27093103</cusip>
        <identifiers>
          <isin value="JP3754500001"/>
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        <balance>54502.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>564510.84000000</valUSD>
        <pctVal>0.658163597461</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>Ituran</name>
        <lei>N/A</lei>
        <title>Ituran Location and Control Ltd. </title>
        <cusip>M6158M104</cusip>
        <identifiers>
          <isin value="IL0010818685"/>
        </identifiers>
        <balance>7700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>298221.00000000</valUSD>
        <pctVal>0.347696080022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Icade SA</name>
        <lei>969500UDH342QLTE1M42</lei>
        <title>ICADE </title>
        <cusip>F4931M119</cusip>
        <identifiers>
          <isin value="FR0000035081"/>
        </identifiers>
        <balance>12244.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>345547.21000000</valUSD>
        <pctVal>0.402873742559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invincible Investment Corporation</name>
        <lei>353800JY6M2692VAV685</lei>
        <title>Invincible Investment Corporation </title>
        <cusip>J2442V103</cusip>
        <identifiers>
          <isin value="JP3046190009"/>
        </identifiers>
        <balance>1473.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>634207.23000000</valUSD>
        <pctVal>0.739422669071</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>Tohoku Electric Power Co Inc</name>
        <lei>353800KTF7EYIIYHY088</lei>
        <title>Tohoku Electric Power Company, Inc. </title>
        <cusip>J85108108</cusip>
        <identifiers>
          <isin value="JP3605400005"/>
        </identifiers>
        <balance>33300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>243091.99000000</valUSD>
        <pctVal>0.283421127311</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>HIAG Immobilien Holding AG</name>
        <lei>549300TU2XXQ3TU4KJ11</lei>
        <title>Hiag Immobilien Holding A.G. </title>
        <cusip>H3634R100</cusip>
        <identifiers>
          <isin value="CH0239518779"/>
        </identifiers>
        <balance>2229.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>310947.45000000</valUSD>
        <pctVal>0.362533857300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NRW Holdings Ltd</name>
        <lei>5493003S2MORCH0HEL95</lei>
        <title>NRW Holdings Limited </title>
        <cusip>Q6951V109</cusip>
        <identifiers>
          <isin value="AU000000NWH5"/>
        </identifiers>
        <balance>283526.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>558086.05000000</valUSD>
        <pctVal>0.650672930144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tomony Holdings Inc.</name>
        <lei>N/A</lei>
        <title>TOMONY Holdings, Inc. </title>
        <cusip>J8912M101</cusip>
        <identifiers>
          <isin value="JP3631700006"/>
        </identifiers>
        <balance>27200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>101800.01000000</valUSD>
        <pctVal>0.118688705434</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>BPER Banca S.p.A.</name>
        <lei>N747OI7JINV7RUUH6190</lei>
        <title>BPER Banca </title>
        <cusip>T1325T119</cusip>
        <identifiers>
          <isin value="IT0000066123"/>
        </identifiers>
        <balance>91559.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>830948.94000000</valUSD>
        <pctVal>0.968803971340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zacros Corp.</name>
        <lei>353800YWT7BBFCB5RN10</lei>
        <title>Fujimori Kogyo Co., Ltd. </title>
        <cusip>J14984108</cusip>
        <identifiers>
          <isin value="JP3821000001"/>
        </identifiers>
        <balance>7238.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>188704.48000000</valUSD>
        <pctVal>0.220010689987</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>Joshin Denki Co Ltd.</name>
        <lei>N/A</lei>
        <title>Joshin Denki Company Ltd. </title>
        <cusip>J28499127</cusip>
        <identifiers>
          <isin value="JP3393000009"/>
        </identifiers>
        <balance>17100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>281565.16000000</valUSD>
        <pctVal>0.328277024096</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>Phoenix Financial Ltd.</name>
        <lei>N/A</lei>
        <title>The Phoenix Holdings Ltd. 25</title>
        <cusip>M7918D145</cusip>
        <identifiers>
          <isin value="IL0007670123"/>
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        <balance>2411.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>69788.48000000</valUSD>
        <pctVal>0.081366439408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Pacific Co Ltd.</name>
        <lei>254900VS1MDQSDM9DE09</lei>
        <title>FIRST PACIFIC CO </title>
        <cusip>G34804107</cusip>
        <identifiers>
          <isin value="BMG348041077"/>
        </identifiers>
        <balance>428000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>303374.65000000</valUSD>
        <pctVal>0.353704724292</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>E-Commodities Holdings Limited</name>
        <lei>N/A</lei>
        <title>E-Commodities Holdings Ltd. </title>
        <cusip>G2921V106</cusip>
        <identifiers>
          <isin value="VGG2921V1067"/>
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        <balance>1261426.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>149443.59000000</valUSD>
        <pctVal>0.174236389883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Pulp &amp; Paper Co</name>
        <lei>N/A</lei>
        <title>Japan Pulp and Paper Company Limited </title>
        <cusip>J27449107</cusip>
        <identifiers>
          <isin value="JP3694000005"/>
        </identifiers>
        <balance>72986.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>313604.62000000</valUSD>
        <pctVal>0.365631853729</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>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>MILLICOM INTERNATIONAL CELLULAR S.A. </title>
        <cusip>L6388F110</cusip>
        <identifiers>
          <isin value="LU0038705702"/>
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        <balance>14222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>532898.34000000</valUSD>
        <pctVal>0.621306560801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stoneweg Europe Stapled Trust</name>
        <lei>21380093RFHTC319NL93</lei>
        <title>Stoneweg Europe Stapled Trust </title>
        <cusip>Y816FX103</cusip>
        <identifiers>
          <isin value="SGXC11267561"/>
        </identifiers>
        <balance>79007.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>141449.52000000</valUSD>
        <pctVal>0.164916097877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saipem SPA</name>
        <lei>549300PHV8MBDHWB8X12</lei>
        <title>Saipem SpA </title>
        <cusip>T82000257</cusip>
        <identifiers>
          <isin value="IT0005495657"/>
        </identifiers>
        <balance>91597.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>250388.01000000</valUSD>
        <pctVal>0.291927562317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippon REIT Investment Corporation</name>
        <lei>3538004O49OJ90PEXX85</lei>
        <title>NIPPON REIT Investment Corp </title>
        <cusip>J5530Q100</cusip>
        <identifiers>
          <isin value="JP3047750009"/>
        </identifiers>
        <balance>688.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>422172.23000000</valUSD>
        <pctVal>0.492210908908</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>Ryoyo Ryosan Holdings Inc.</name>
        <lei>N/A</lei>
        <title>Ryoyo Ryosan Holdings Inc. </title>
        <cusip>J65802100</cusip>
        <identifiers>
          <isin value="JP3975410006"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>184076.37000000</valUSD>
        <pctVal>0.214614773184</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>British Land Company PLC</name>
        <lei>RV5B68J2GV3QGMRPW209</lei>
        <title>BRITISH LAND COMPANY PLC </title>
        <cusip>G15540118</cusip>
        <identifiers>
          <isin value="GB0001367019"/>
        </identifiers>
        <balance>98496.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>511180.40000000</valUSD>
        <pctVal>0.595985598816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bridgestone Corp.</name>
        <lei>549300DHPOF90OYYD780</lei>
        <title>F.C.C. CO., LTD. </title>
        <cusip>J04578126</cusip>
        <identifiers>
          <isin value="JP3830800003"/>
        </identifiers>
        <balance>22193.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>429652.66000000</valUSD>
        <pctVal>0.500932347666</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>Toyota Boshoku Corp.</name>
        <lei>529900KS87U6EY7PWG26</lei>
        <title>Toyota Boshoku Corp </title>
        <cusip>J91214106</cusip>
        <identifiers>
          <isin value="JP3635400009"/>
        </identifiers>
        <balance>8000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>109043.40000000</valUSD>
        <pctVal>0.127133779084</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>Future PLC</name>
        <lei>213800K2581YRLEXV353</lei>
        <title>Future PLC </title>
        <cusip>G37005132</cusip>
        <identifiers>
          <isin value="GB00BYZN9041"/>
        </identifiers>
        <balance>20798.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>208762.86000000</valUSD>
        <pctVal>0.243396769765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lion Finance Group PLC</name>
        <lei>213800XKDG12NQG8VC53</lei>
        <title>Bank of Georgia Group plc </title>
        <cusip>G0R1NA104</cusip>
        <identifiers>
          <isin value="GB00BF4HYT85"/>
        </identifiers>
        <balance>10977.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>1069128.94000000</valUSD>
        <pctVal>1.246498205951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Also Holding AG</name>
        <lei>529900ACS8A6PTQI6141</lei>
        <title>ALSO Holding AG </title>
        <cusip>H0178Q159</cusip>
        <identifiers>
          <isin value="CH0024590272"/>
        </identifiers>
        <balance>1503.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>509783.27000000</valUSD>
        <pctVal>0.594356683936</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>North Pacific Bank Ltd.</name>
        <lei>549300A1ZLTL4KX3DZ92</lei>
        <title>NORTH PACIFIC BANK, LTD. </title>
        <cusip>J22260111</cusip>
        <identifiers>
          <isin value="JP3843400007"/>
        </identifiers>
        <balance>29000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>116034.25000000</valUSD>
        <pctVal>0.135284416165</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>BAWAG Group AG</name>
        <lei>529900S9YO2JHTIIDG38</lei>
        <title>BAWAG Group AG </title>
        <cusip>A0997C107</cusip>
        <identifiers>
          <isin value="AT0000BAWAG2"/>
        </identifiers>
        <balance>4069.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>520307.99000000</valUSD>
        <pctVal>0.606627462611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bezeq The Israeli Telecommunication Corp Ltd</name>
        <lei>213800XCGZCFSWY9U863</lei>
        <title>BEZEQ THE ISRAELI TELECOM </title>
        <cusip>M2012Q100</cusip>
        <identifiers>
          <isin value="IL0002300114"/>
        </identifiers>
        <balance>139693.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>238731.36000000</valUSD>
        <pctVal>0.278337065634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Harvey Norman Holdings Ltd.</name>
        <lei>529900ONRWOF42PYKU59</lei>
        <title>Harvey Norman Holdings Limited </title>
        <cusip>Q4525E117</cusip>
        <identifiers>
          <isin value="AU000000HVN7"/>
        </identifiers>
        <balance>44223.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>153430.58000000</valUSD>
        <pctVal>0.178884824414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grand City Properties SA</name>
        <lei>5299002QLUYKK2WBMB18</lei>
        <title>GRAND CITY PROPERTIES S.A. </title>
        <cusip>L4459Y100</cusip>
        <identifiers>
          <isin value="LU0775917882"/>
        </identifiers>
        <balance>20268.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>265554.51000000</valUSD>
        <pctVal>0.309610195658</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>Kobe Steel Ltd</name>
        <lei>549300ZDCYYUPHEE5K87</lei>
        <title>KOBE STEEL LTD </title>
        <cusip>J34555250</cusip>
        <identifiers>
          <isin value="JP3289800009"/>
        </identifiers>
        <balance>68600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>748732.10000000</valUSD>
        <pctVal>0.872947298001</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>UT Group Co Ltd.</name>
        <lei>N/A</lei>
        <title>UT Group Co., Ltd. </title>
        <cusip>J9448B106</cusip>
        <identifiers>
          <isin value="JP3949500007"/>
        </identifiers>
        <balance>8300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>141789.65000000</valUSD>
        <pctVal>0.165312655690</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>Mutares SE &amp; Co. KGaA</name>
        <lei>391200NWMO6NLQFSCU64</lei>
        <title>Mutares S.E. &amp; Company KGaA </title>
        <cusip>D5624A157</cusip>
        <identifiers>
          <isin value="DE000A2NB650"/>
        </identifiers>
        <balance>6431.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>274385.97000000</valUSD>
        <pctVal>0.319906801272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Finnair Oyj</name>
        <lei>213800SB6EOB8SSK9W63</lei>
        <title>Finnair OYJ </title>
        <cusip>X24877247</cusip>
        <identifiers>
          <isin value="FI4000567029"/>
        </identifiers>
        <balance>67677.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>213836.44000000</valUSD>
        <pctVal>0.249312060364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pacific Industrial Co Ltd</name>
        <lei>N/A</lei>
        <title>Pacific Industrial Co Ltd </title>
        <cusip>J63438105</cusip>
        <identifiers>
          <isin value="JP3448400006"/>
        </identifiers>
        <balance>30125.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>281914.26000000</valUSD>
        <pctVal>0.328684040039</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>Academedia Ab</name>
        <lei>549300H47PGHY4JNKO68</lei>
        <title>AcadeMedia AB </title>
        <cusip>W1202M266</cusip>
        <identifiers>
          <isin value="SE0007897079"/>
        </identifiers>
        <balance>12374.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>109173.52000000</valUSD>
        <pctVal>0.127285486086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lion Corp</name>
        <lei>529900MPGS2GM7VPG855</lei>
        <title>Lion Corporation </title>
        <cusip>J38933107</cusip>
        <identifiers>
          <isin value="JP3965400009"/>
        </identifiers>
        <balance>7400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>76499.12000000</valUSD>
        <pctVal>0.089190379447</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>Daiwabo Holdings Co Ltd.</name>
        <lei>N/A</lei>
        <title>Daiwabo Holdings Company Ltd. </title>
        <cusip>J1R29Q108</cusip>
        <identifiers>
          <isin value="JP3505400006"/>
        </identifiers>
        <balance>15500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>278562.05000000</valUSD>
        <pctVal>0.324775695970</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>Perseus Mining Ltd.</name>
        <lei>54930054ZDGKBCW3SM26</lei>
        <title>Perseus Mining, Ltd. </title>
        <cusip>Q74174105</cusip>
        <identifiers>
          <isin value="AU000000PRU3"/>
        </identifiers>
        <balance>208436.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>473400.90000000</valUSD>
        <pctVal>0.551938452387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ME Group International PLC</name>
        <lei>2138006YJ65EKBYYYX41</lei>
        <title>Photo-Me International PLC </title>
        <cusip>G70695112</cusip>
        <identifiers>
          <isin value="GB0008481250"/>
        </identifiers>
        <balance>83674.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>263753.87000000</valUSD>
        <pctVal>0.307510828177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iren SpA</name>
        <lei>8156001EBD33FD474E60</lei>
        <title>Iren SpA </title>
        <cusip>T5551Y106</cusip>
        <identifiers>
          <isin value="IT0003027817"/>
        </identifiers>
        <balance>15297.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>47253.77000000</valUSD>
        <pctVal>0.055093204688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brother Industries Ltd</name>
        <lei>549300O5FACQ67KI6R92</lei>
        <title>BROTHER INDUSTRIES LTD. </title>
        <cusip>114813108</cusip>
        <identifiers>
          <isin value="JP3830000000"/>
        </identifiers>
        <balance>22300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>384617.10000000</valUSD>
        <pctVal>0.448425355624</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>Billerud AB</name>
        <lei>549300YJUYJ9A24RXL71</lei>
        <title>BILLERUDKORSNAS AB </title>
        <cusip>W16021102</cusip>
        <identifiers>
          <isin value="SE0000862997"/>
        </identifiers>
        <balance>7713.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>79919.64000000</valUSD>
        <pctVal>0.093178366194</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>Implenia AG</name>
        <lei>52990006TKCUQQJ79B11</lei>
        <title>Implenia AG </title>
        <cusip>H41929102</cusip>
        <identifiers>
          <isin value="CH0023868554"/>
        </identifiers>
        <balance>14326.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>1003940.21000000</valUSD>
        <pctVal>1.170494618401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vienna Insurance Group AG Wiener Versicherung Gruppe</name>
        <lei>549300JCRU23I1THU176</lei>
        <title>VIENNA INSURANC - RECLAIM </title>
        <cusip>A9142L128</cusip>
        <identifiers>
          <isin value="AT0000908504"/>
        </identifiers>
        <balance>2047.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>105404.41000000</valUSD>
        <pctVal>0.122891078006</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>Exedy Corp</name>
        <lei>35380047PHY08BBD5M18</lei>
        <title>Exedy Corp </title>
        <cusip>J1326T101</cusip>
        <identifiers>
          <isin value="JP3161160001"/>
        </identifiers>
        <balance>6800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>194484.89000000</valUSD>
        <pctVal>0.226750074195</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>Samty Residential Investment Corp</name>
        <lei>N/A</lei>
        <title>Samty Residential Investment Corporation </title>
        <cusip>J6779Q108</cusip>
        <identifiers>
          <isin value="JP3047960004"/>
        </identifiers>
        <balance>41.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>27618.65000000</valUSD>
        <pctVal>0.032200604050</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>Strabag SE</name>
        <lei>529900TYYSRJH2VJSP60</lei>
        <title>Strabag SE-BR </title>
        <cusip>A8363A118</cusip>
        <identifiers>
          <isin value="AT000000STR1"/>
        </identifiers>
        <balance>663.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>63126.03000000</valUSD>
        <pctVal>0.073598684124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sumitomo Riko Co Ltd.</name>
        <lei>N/A</lei>
        <title>Sumitomo Riko Company, Ltd. </title>
        <cusip>J7787P108</cusip>
        <identifiers>
          <isin value="JP3564200008"/>
        </identifiers>
        <balance>29200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>337548.64000000</valUSD>
        <pctVal>0.393548203999</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>TUI AG</name>
        <lei>529900SL2WSPV293B552</lei>
        <title>TUI AG </title>
        <cusip>D8484K455</cusip>
        <identifiers>
          <isin value="DE000TUAG505"/>
        </identifiers>
        <balance>11025.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>96607.66000000</valUSD>
        <pctVal>0.112634940806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clariane SE</name>
        <lei>969500WEPS61H6TJM037</lei>
        <title>Korian </title>
        <cusip>F5412L108</cusip>
        <identifiers>
          <isin value="FR0010386334"/>
        </identifiers>
        <balance>92077.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>564148.83000000</valUSD>
        <pctVal>0.657741529739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Growthpoint Properties Australia Ltd.</name>
        <lei>529900VCPJ9IEDF4TJ03</lei>
        <title>Growthpoint Properties Australia Ltd. </title>
        <cusip>Q4359J133</cusip>
        <identifiers>
          <isin value="AU000000GOZ8"/>
        </identifiers>
        <balance>206640.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>316730.81000000</valUSD>
        <pctVal>0.369276680916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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>G5689W109</cusip>
        <identifiers>
          <isin value="GB00B4WFW713"/>
        </identifiers>
        <balance>25259.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>70529.11000000</valUSD>
        <pctVal>0.082229940461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sundrug Co Ltd</name>
        <lei>N/A</lei>
        <title>Sundrug Company Ltd. </title>
        <cusip>J78089109</cusip>
        <identifiers>
          <isin value="JP3336600006"/>
        </identifiers>
        <balance>5300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>165833.86000000</valUSD>
        <pctVal>0.193345817555</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>Rubis SCA</name>
        <lei>969500MGFIKUGLTC9742</lei>
        <title>Rubis SCA </title>
        <cusip>F7686C152</cusip>
        <identifiers>
          <isin value="FR0013269123"/>
        </identifiers>
        <balance>1663.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>53766.28000000</valUSD>
        <pctVal>0.062686144816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NHK Spring Co Ltd</name>
        <lei>35380033IJ3XRDV8VH57</lei>
        <title>NHK SPRING CO LTD </title>
        <cusip>J49162126</cusip>
        <identifiers>
          <isin value="JP3742600004"/>
        </identifiers>
        <balance>25400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>276518.34000000</valUSD>
        <pctVal>0.322392933000</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>Zigup PLC</name>
        <lei>213800B3ZUTDOZYVJB41</lei>
        <title>Zigup Plc </title>
        <cusip>G7331W115</cusip>
        <identifiers>
          <isin value="GB00B41H7391"/>
        </identifiers>
        <balance>83148.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>405523.28000000</valUSD>
        <pctVal>0.472799886037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Credit Saison Co Ltd.</name>
        <lei>529900SV58ZWTGRH3A66</lei>
        <title>CREDIT SAISON CO LTD </title>
        <cusip>J7007M109</cusip>
        <identifiers>
          <isin value="JP3271400008"/>
        </identifiers>
        <balance>20700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>558392.47000000</valUSD>
        <pctVal>0.651030185444</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>Unicaja Banco, S.A.U.</name>
        <lei>5493007SJLLCTM6J6M37</lei>
        <title>Unicaja Banco, S.A. </title>
        <cusip>E92589105</cusip>
        <identifiers>
          <isin value="ES0180907000"/>
        </identifiers>
        <balance>99872.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>235871.08000000</valUSD>
        <pctVal>0.275002263109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tokyo Century Corp.</name>
        <lei>35380096ZLHOF84DXR74</lei>
        <title>Tokyo Century Corporation </title>
        <cusip>J8671Q103</cusip>
        <identifiers>
          <isin value="JP3424950008"/>
        </identifiers>
        <balance>40300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>453626.86000000</valUSD>
        <pctVal>0.528883884820</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>Valor Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Valor Holdings Co Ltd </title>
        <cusip>J94512100</cusip>
        <identifiers>
          <isin value="JP3778400006"/>
        </identifiers>
        <balance>7100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>124178.80000000</valUSD>
        <pctVal>0.144780152913</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>Yancoal Australia Ltd</name>
        <lei>3003003IC6G39HKQAD13</lei>
        <title>Yancoal Australia Ltd. </title>
        <cusip>Q9869P115</cusip>
        <identifiers>
          <isin value="AU000000YAL0"/>
        </identifiers>
        <balance>29950.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>113803.99000000</valUSD>
        <pctVal>0.132684154415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sanki Engineering Co Ltd</name>
        <lei>N/A</lei>
        <title>SANKI ENGINEERING CO., LTD </title>
        <cusip>J67435107</cusip>
        <identifiers>
          <isin value="JP3325600009"/>
        </identifiers>
        <balance>10300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>289150.73000000</valUSD>
        <pctVal>0.337121045656</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>Kelsian Group Ltd.</name>
        <lei>984500FAK68AD2A97558</lei>
        <title>Kelsian Group Ltd. </title>
        <cusip>Q52522101</cusip>
        <identifiers>
          <isin value="AU0000186678"/>
        </identifiers>
        <balance>62976.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>157304.22000000</valUSD>
        <pctVal>0.183401104097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Currys PLC</name>
        <lei>2138001E12GWLLDQQF16</lei>
        <title>Dixons Carphone PLC </title>
        <cusip>G2601D103</cusip>
        <identifiers>
          <isin value="GB00B4Y7R145"/>
        </identifiers>
        <balance>513208.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>857806.71000000</valUSD>
        <pctVal>1.000117464847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippon Television Holdings Inc.</name>
        <lei>353800QI43C3H97E4W63</lei>
        <title>Nippon Television Holdings, Inc. </title>
        <cusip>J56171101</cusip>
        <identifiers>
          <isin value="JP3732200005"/>
        </identifiers>
        <balance>1800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>41694.54000000</valUSD>
        <pctVal>0.048611694402</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>Kier Group PLC</name>
        <lei>2138002RKCU2OM4Y7O48</lei>
        <title>Kier Group plc </title>
        <cusip>G52549105</cusip>
        <identifiers>
          <isin value="GB0004915632"/>
        </identifiers>
        <balance>247560.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>709189.61000000</valUSD>
        <pctVal>0.826844680253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Evolution Mining Ltd.</name>
        <lei>254900BCFW5QO5LW8F27</lei>
        <title>Evolution Mining Ltd. </title>
        <cusip>Q3647R147</cusip>
        <identifiers>
          <isin value="AU000000EVN4"/>
        </identifiers>
        <balance>9167.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>47726.44000000</valUSD>
        <pctVal>0.055644290983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Belluna Co Ltd</name>
        <lei>353800Q8P5LM0569VS75</lei>
        <title>Belluna Co Ltd. </title>
        <cusip>J0428W103</cusip>
        <identifiers>
          <isin value="JP3835650007"/>
        </identifiers>
        <balance>45600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>281002.07000000</valUSD>
        <pctVal>0.327620517057</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>Swissquote Group Holding AG</name>
        <lei>549300O3WME82RDPEN66</lei>
        <title>Swissquote Group Holding SA </title>
        <cusip>H8403Y103</cusip>
        <identifiers>
          <isin value="CH0010675863"/>
        </identifiers>
        <balance>391.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>222234.91000000</valUSD>
        <pctVal>0.259103842624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Etablissements Maurel &amp; Prom S.A.</name>
        <lei>969500ZTYI9C1C594X25</lei>
        <title>Etablissements Maurel et Prom S.A. </title>
        <cusip>F60858101</cusip>
        <identifiers>
          <isin value="FR0000051070"/>
        </identifiers>
        <balance>15914.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>90133.50000000</valUSD>
        <pctVal>0.105086712970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Savills PLC</name>
        <lei>213800WXICGMBWHTA933</lei>
        <title>SAVILLS PLC </title>
        <cusip>G78283119</cusip>
        <identifiers>
          <isin value="GB00B135BJ46"/>
        </identifiers>
        <balance>2579.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>35235.53000000</valUSD>
        <pctVal>0.041081129962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tietoevry Oyj</name>
        <lei>549300EW2KM4KROKQV31</lei>
        <title>TietoEVRY Oyj </title>
        <cusip>Y8T39G104</cusip>
        <identifiers>
          <isin value="FI0009000277"/>
        </identifiers>
        <balance>8553.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>162183.53000000</valUSD>
        <pctVal>0.189089895162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAH Sing Banking G</name>
        <lei>529900DXBMKJOLLQOM66</lei>
        <title>Dah Sing Banking Group Ltd. </title>
        <cusip>Y1923F101</cusip>
        <identifiers>
          <isin value="HK2356013600"/>
        </identifiers>
        <balance>75391.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>87410.99000000</valUSD>
        <pctVal>0.101912536588</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>GS Yuasa Corp.</name>
        <lei>353800MW7O6PQQHLDR79</lei>
        <title>GS Yuasa Corporation </title>
        <cusip>J1770L109</cusip>
        <identifiers>
          <isin value="JP3385820000"/>
        </identifiers>
        <balance>17200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>320890.96000000</valUSD>
        <pctVal>0.374127002816</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>Aker Solutions ASA</name>
        <lei>5967007LIEEXZXG42836</lei>
        <title>Aker Solutions ASA </title>
        <cusip>R0138P118</cusip>
        <identifiers>
          <isin value="NO0010716582"/>
        </identifiers>
        <balance>71021.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>245126.16000000</valUSD>
        <pctVal>0.285792767588</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ichigo Office REIT Investment Corp.</name>
        <lei>N/A</lei>
        <title>Ichigo Office REIT Investment Corporation </title>
        <cusip>J2382Z106</cusip>
        <identifiers>
          <isin value="JP3046300004"/>
        </identifiers>
        <balance>148.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>94280.06000000</valUSD>
        <pctVal>0.109921190279</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>Semapa Sociedade de Investimento e Gestao SGPS SA</name>
        <lei>549300HNGOW85KIOH584</lei>
        <title>Semapa-Sociedade de Investimento e Gestao </title>
        <cusip>X7936A113</cusip>
        <identifiers>
          <isin value="PTSEM0AM0004"/>
        </identifiers>
        <balance>8291.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>163085.63000000</valUSD>
        <pctVal>0.190141654206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kiyo Bank Ltd</name>
        <lei>3538002347FGLMNPVY63</lei>
        <title>Kiyo Bank Ltd. (The) </title>
        <cusip>J34082115</cusip>
        <identifiers>
          <isin value="JP3248000006"/>
        </identifiers>
        <balance>12200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>210762.23000000</valUSD>
        <pctVal>0.245727836697</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>Super Retail Group Ltd.</name>
        <lei>N/A</lei>
        <title>SUPER RETAIL GROUP LTD </title>
        <cusip>Q88009107</cusip>
        <identifiers>
          <isin value="AU000000SUL0"/>
        </identifiers>
        <balance>29132.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>273102.69000000</valUSD>
        <pctVal>0.318410624190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Petroleum Exploration Co Ltd.</name>
        <lei>549300WXUNBZ356DMN17</lei>
        <title>Japan Petroleum Exploration Co </title>
        <cusip>J2740Q103</cusip>
        <identifiers>
          <isin value="JP3421100003"/>
        </identifiers>
        <balance>20100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>141393.47000000</valUSD>
        <pctVal>0.164850749141</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>Raiffeisen Bank International AG</name>
        <lei>9ZHRYM6F437SQJ6OUG95</lei>
        <title>RAIFFEISEN BANK INTERNATI </title>
        <cusip>A7111G104</cusip>
        <identifiers>
          <isin value="AT0000606306"/>
        </identifiers>
        <balance>13682.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>418480.31000000</valUSD>
        <pctVal>0.487906496704</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>Wickes Group PLC</name>
        <lei>213800IEX9ZXJRAOL133</lei>
        <title>Wickes Group plc </title>
        <cusip>G8927W105</cusip>
        <identifiers>
          <isin value="GB00BL6C2002"/>
        </identifiers>
        <balance>69379.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>213785.91000000</valUSD>
        <pctVal>0.249253147401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Derichebourg SA</name>
        <lei>969500QOO4C4IPGID263</lei>
        <title>Derichebourg SA </title>
        <cusip>F2546C237</cusip>
        <identifiers>
          <isin value="FR0000053381"/>
        </identifiers>
        <balance>19721.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>134012.07000000</valUSD>
        <pctVal>0.156244769532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Starhill Global Real Estate Investment Trust</name>
        <lei>549300GCJNC7HDN3YK51</lei>
        <title>STARHILL GLOBAL REIT </title>
        <cusip>Y7545N109</cusip>
        <identifiers>
          <isin value="SG1S18926810"/>
        </identifiers>
        <balance>651070.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.27154000"/>
        <valUSD>261377.31000000</valUSD>
        <pctVal>0.304739995151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippon Yusen Kabushiki Kaisha</name>
        <lei>353800YPW4XM0ZN5I149</lei>
        <title>Nippon Yusen KK </title>
        <cusip>J56515232</cusip>
        <identifiers>
          <isin value="JP3753000003"/>
        </identifiers>
        <balance>21000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>421195.61000000</valUSD>
        <pctVal>0.491072266942</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>Abacus Group</name>
        <lei>N/A</lei>
        <title>Abacus Group </title>
        <cusip>Q0015N260</cusip>
        <identifiers>
          <isin value="AU0000291882"/>
        </identifiers>
        <balance>143026.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>105473.54000000</valUSD>
        <pctVal>0.122971676723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sonae SGPS SA</name>
        <lei>549300847SOBT7HY7R50</lei>
        <title>SONAE S.G.P.S., SA </title>
        <cusip>X8252W176</cusip>
        <identifiers>
          <isin value="PTSON0AM0001"/>
        </identifiers>
        <balance>35904.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>51086.02000000</valUSD>
        <pctVal>0.059561227740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Central Glass Co Ltd</name>
        <lei>N/A</lei>
        <title>Central Glass Company Ltd. </title>
        <cusip>J05502109</cusip>
        <identifiers>
          <isin value="JP3425000001"/>
        </identifiers>
        <balance>11100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>228693.87000000</valUSD>
        <pctVal>0.266634348769</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>Compagnie des Alpes SA</name>
        <lei>96950029IN3GW457GG90</lei>
        <title>Cie des Alpes </title>
        <cusip>F2005P158</cusip>
        <identifiers>
          <isin value="FR0000053324"/>
        </identifiers>
        <balance>3413.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>82863.59000000</valUSD>
        <pctVal>0.096610719632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Accent Group Ltd.</name>
        <lei>N/A</lei>
        <title>Accent Group Limited </title>
        <cusip>Q0R618101</cusip>
        <identifiers>
          <isin value="AU000000AX19"/>
        </identifiers>
        <balance>175071.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>160836.37000000</valUSD>
        <pctVal>0.187519240342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Isras Investment Company Ltd.</name>
        <lei>N/A</lei>
        <title>Isras Investment Company LTD </title>
        <cusip>M61446106</cusip>
        <identifiers>
          <isin value="IL0006130343"/>
        </identifiers>
        <balance>209.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>59510.39000000</valUSD>
        <pctVal>0.069383206828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Energean PLC</name>
        <lei>549300RVMKU0CYUZBB05</lei>
        <title>Energean plc </title>
        <cusip>G303AF106</cusip>
        <identifiers>
          <isin value="GB00BG12Y042"/>
        </identifiers>
        <balance>8306.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>103916.20000000</valUSD>
        <pctVal>0.121155972888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ansell Ltd.</name>
        <lei>549300NEGJ5G23VCJM45</lei>
        <title>Ansell Limited </title>
        <cusip>Q04020105</cusip>
        <identifiers>
          <isin value="AU000000ANN9"/>
        </identifiers>
        <balance>22985.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>458264.23000000</valUSD>
        <pctVal>0.534290597864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wacom Co Ltd.</name>
        <lei>353800R3B771OQOQPT02</lei>
        <title>Wacom Co LTD </title>
        <cusip>J9467Z109</cusip>
        <identifiers>
          <isin value="JP3993400005"/>
        </identifiers>
        <balance>56800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>269557.90000000</valUSD>
        <pctVal>0.314277750960</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>Serica Energy Plc</name>
        <lei>213800EZZOKA815VC426</lei>
        <title>Serica Energy PLC </title>
        <cusip>G80475109</cusip>
        <identifiers>
          <isin value="GB00B0CY5V57"/>
        </identifiers>
        <balance>36051.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>78569.31000000</valUSD>
        <pctVal>0.091604015468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAH Sing Financial</name>
        <lei>529900J55QMXMR5KMH32</lei>
        <title>Dah Sing Financial Holdings Limited </title>
        <cusip>Y19182107</cusip>
        <identifiers>
          <isin value="HK0440001847"/>
        </identifiers>
        <balance>52000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>197230.36000000</valUSD>
        <pctVal>0.229951019658</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>Takara Standard Co Ltd</name>
        <lei>N/A</lei>
        <title>Takara Standard Co., Ltd. </title>
        <cusip>J80851116</cusip>
        <identifiers>
          <isin value="JP3460000007"/>
        </identifiers>
        <balance>17700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>298268.78000000</valUSD>
        <pctVal>0.347751786759</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>Hang Lung Group Ltd.</name>
        <lei>529900V2T2EPOQYH0981</lei>
        <title>Hang Lung Group Ltd. </title>
        <cusip>Y30148111</cusip>
        <identifiers>
          <isin value="HK0010000088"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84996000"/>
        <valUSD>43529.19000000</valUSD>
        <pctVal>0.050750714166</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>Bekaert SA</name>
        <lei>5493008SR6XZECH6BN71</lei>
        <title>Bekaert SA </title>
        <cusip>B6346B111</cusip>
        <identifiers>
          <isin value="BE0974258874"/>
        </identifiers>
        <balance>7004.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>289749.36000000</valUSD>
        <pctVal>0.337818988807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MFE-MediaForEurope NV</name>
        <lei>213800DIFN7NR7B97A50</lei>
        <title>MFE-MediaForEurope N.V. </title>
        <cusip>N5673Q128</cusip>
        <identifiers>
          <isin value="NL0015001OI1"/>
        </identifiers>
        <balance>80904.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>277529.98000000</valUSD>
        <pctVal>0.323572404810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ovs S.P.A</name>
        <lei>8156001A772766DCAA71</lei>
        <title>OVS SpA </title>
        <cusip>T7S3C5103</cusip>
        <identifiers>
          <isin value="IT0005043507"/>
        </identifiers>
        <balance>39059.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>170222.99000000</valUSD>
        <pctVal>0.198463107402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spectris PLC</name>
        <lei>213800Z4CO2CZO3M3T10</lei>
        <title>Spectris plc </title>
        <cusip>G8338K104</cusip>
        <identifiers>
          <isin value="GB0003308607"/>
        </identifiers>
        <balance>7385.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>389151.00000000</valUSD>
        <pctVal>0.453711432920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intershop Holding AG</name>
        <lei>506700CGX4K77JX3R725</lei>
        <title>Intershop Holding A.G. </title>
        <cusip>H42507279</cusip>
        <identifiers>
          <isin value="CH1338987303"/>
        </identifiers>
        <balance>1204.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>215655.92000000</valUSD>
        <pctVal>0.251433393415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hansen Technologies Ltd.</name>
        <lei>N/A</lei>
        <title>Hansen Technologies Limited </title>
        <cusip>Q4474Z103</cusip>
        <identifiers>
          <isin value="AU000000HSN3"/>
        </identifiers>
        <balance>121623.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>399122.04000000</valUSD>
        <pctVal>0.465336675682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kitz Corp</name>
        <lei>N/A</lei>
        <title>Kitz Corp </title>
        <cusip>J34039115</cusip>
        <identifiers>
          <isin value="JP3240700009"/>
        </identifiers>
        <balance>35300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>289749.48000000</valUSD>
        <pctVal>0.337819128715</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>Atea ASA</name>
        <lei>5967007LIEEXZXINVS13</lei>
        <title>ATEA ASA </title>
        <cusip>R0728G106</cusip>
        <identifiers>
          <isin value="NO0004822503"/>
        </identifiers>
        <balance>12806.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>202286.20000000</valUSD>
        <pctVal>0.235845627178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dexus</name>
        <lei>N/A</lei>
        <title>DEXUS PROPERTY GROUP </title>
        <cusip>Q318A1104</cusip>
        <identifiers>
          <isin value="AU000000DXS1"/>
        </identifiers>
        <balance>15428.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>67713.21000000</valUSD>
        <pctVal>0.078946880611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valeo SE</name>
        <lei>5493006IH2N2WMIBB742</lei>
        <title>Valeo S.A. </title>
        <cusip>F96221340</cusip>
        <identifiers>
          <isin value="FR0013176526"/>
        </identifiers>
        <balance>10594.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>116278.98000000</valUSD>
        <pctVal>0.135569747050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>A2A S.p.A.</name>
        <lei>81560076E3944316DB24</lei>
        <title>A2A SpA </title>
        <cusip>T0579B105</cusip>
        <identifiers>
          <isin value="IT0001233417"/>
        </identifiers>
        <balance>86386.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>232663.75000000</valUSD>
        <pctVal>0.271262834738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Harbour Energy PLC</name>
        <lei>213800YPC42DYBKVPF97</lei>
        <title>Harbour Energy plc </title>
        <cusip>G4289T111</cusip>
        <identifiers>
          <isin value="GB00BMBVGQ36"/>
        </identifiers>
        <balance>24925.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>66812.82000000</valUSD>
        <pctVal>0.077897115257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sankyu Inc</name>
        <lei>529900QWTXZZEM1T5G75</lei>
        <title>Sankyu Inc </title>
        <cusip>J68037100</cusip>
        <identifiers>
          <isin value="JP3326000001"/>
        </identifiers>
        <balance>8200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>439758.35000000</valUSD>
        <pctVal>0.512714578961</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>Pan African Resources PLC</name>
        <lei>213800EAXURCXMX6RL85</lei>
        <title>Pan African Resources plc </title>
        <cusip>G6882W102</cusip>
        <identifiers>
          <isin value="GB0004300496"/>
        </identifiers>
        <balance>1058153.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>664468.27000000</valUSD>
        <pctVal>0.774704037538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ambea Ab (Publ)</name>
        <lei>549300AEVNZRHYI5HV24</lei>
        <title>Ambea A.B. </title>
        <cusip>W0R88P139</cusip>
        <identifiers>
          <isin value="SE0009663826"/>
        </identifiers>
        <balance>58794.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>701368.51000000</valUSD>
        <pctVal>0.817726054095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Magellan Financial Group Ltd.</name>
        <lei>549300X5WFW6USQQ9U26</lei>
        <title>Magellan Financial Group Limited </title>
        <cusip>Q5713S107</cusip>
        <identifiers>
          <isin value="AU000000MFG4"/>
        </identifiers>
        <balance>53702.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>302855.35000000</valUSD>
        <pctVal>0.353099272046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sulzer AG</name>
        <lei>529900NZ6MAST5IJF669</lei>
        <title>SULZER AG-REG </title>
        <cusip>H83580284</cusip>
        <identifiers>
          <isin value="CH0038388911"/>
        </identifiers>
        <balance>2175.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>393076.88000000</valUSD>
        <pctVal>0.458288619257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Elco Ltd.</name>
        <lei>N/A</lei>
        <title>Elco Ltd. </title>
        <cusip>M3787F105</cusip>
        <identifiers>
          <isin value="IL0006940345"/>
        </identifiers>
        <balance>3103.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>171508.58000000</valUSD>
        <pctVal>0.199961977715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IS</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kato Sangyo Co</name>
        <lei>N/A</lei>
        <title>Kato Sangyo Company Ltd. </title>
        <cusip>J3104N108</cusip>
        <identifiers>
          <isin value="JP3213300001"/>
        </identifiers>
        <balance>3197.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>121878.11000000</valUSD>
        <pctVal>0.142097776774</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>Ns United Kaiun Kaisha Ltd</name>
        <lei>353800MK2Y7X2PZGXN23</lei>
        <title>NS United Kaiun Kaisha Ltd </title>
        <cusip>J5932X109</cusip>
        <identifiers>
          <isin value="JP3385000009"/>
        </identifiers>
        <balance>1800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>48740.60000000</valUSD>
        <pctVal>0.056826700862</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>Sumitomo Forestry Co Ltd.</name>
        <lei>549300FIIRGO6D5FWR19</lei>
        <title>SUMITOMO FORESTRY CO </title>
        <cusip>J77454122</cusip>
        <identifiers>
          <isin value="JP3409800004"/>
        </identifiers>
        <balance>4800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>48463.58000000</valUSD>
        <pctVal>0.056503723043</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>Bytes Technology Group PLC</name>
        <lei>213800LA4DZLFBAC9O33</lei>
        <title>Bytes Technology Group PLC </title>
        <cusip>G1824W104</cusip>
        <identifiers>
          <isin value="GB00BMH18Q19"/>
        </identifiers>
        <balance>42661.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>299636.15000000</valUSD>
        <pctVal>0.349346004433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Loomis AB</name>
        <lei>213800NS2XXVRYS7WP40</lei>
        <title>Loomis AB </title>
        <cusip>W5S50Y116</cusip>
        <identifiers>
          <isin value="SE0014504817"/>
        </identifiers>
        <balance>7292.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>306593.63000000</valUSD>
        <pctVal>0.357457735407</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>Diversified Energy Company PLC</name>
        <lei>213800YR9TFRVHPGOS67</lei>
        <title>Diversified Energy Company plc </title>
        <cusip>G2891G204</cusip>
        <identifiers>
          <isin value="GB00BQHP5P93"/>
        </identifiers>
        <balance>6783.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>101104.88000000</valUSD>
        <pctVal>0.117878252863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>West African Resources Ltd.</name>
        <lei>529900XLO8GMJNTUL013</lei>
        <title>West African Resources Ltd. </title>
        <cusip>Q9594D106</cusip>
        <identifiers>
          <isin value="AU000000WAF6"/>
        </identifiers>
        <balance>221277.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>336121.57000000</valUSD>
        <pctVal>0.391884382052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUSS MicroTec SE</name>
        <lei>529900C3KRUTSYDK7N87</lei>
        <title>SUSS MicroTec S.E. </title>
        <cusip>D82791167</cusip>
        <identifiers>
          <isin value="DE000A1K0235"/>
        </identifiers>
        <balance>6418.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>352724.20000000</valUSD>
        <pctVal>0.411241400401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iveco Group NV</name>
        <lei>549300ZWF2ZJDD9EOR96</lei>
        <title>Iveco Group N.V. </title>
        <cusip>N47017103</cusip>
        <identifiers>
          <isin value="NL0015000LU4"/>
        </identifiers>
        <balance>26770.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>527146.42000000</valUSD>
        <pctVal>0.614600393104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tokuyama Corp</name>
        <lei>529900MHGZKHNMNCQB62</lei>
        <title>Tokuyama Corp </title>
        <cusip>J86506110</cusip>
        <identifiers>
          <isin value="JP3625000009"/>
        </identifiers>
        <balance>17700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>369804.74000000</valUSD>
        <pctVal>0.431155614366</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>Sasseur Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Sasseur Real Estate Investment Trust </title>
        <cusip>Y7541M105</cusip>
        <identifiers>
          <isin value="SG1ED2000000"/>
        </identifiers>
        <balance>319337.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.27154000"/>
        <valUSD>160955.35000000</valUSD>
        <pctVal>0.187657959210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Italgas SpA</name>
        <lei>815600F25FF44EF1FA76</lei>
        <title>ITALGAS SPA </title>
        <cusip>T6R89Z103</cusip>
        <identifiers>
          <isin value="IT0005211237"/>
        </identifiers>
        <balance>47228.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>400589.95000000</valUSD>
        <pctVal>0.467048113015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hoist Finance AB</name>
        <lei>549300NPK3FB2BEL4D08</lei>
        <title>Hoist Finance AB </title>
        <cusip>W4R31M102</cusip>
        <identifiers>
          <isin value="SE0006887063"/>
        </identifiers>
        <balance>24707.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>217885.65000000</valUSD>
        <pctVal>0.254033037238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippon Signal Co Ltd.</name>
        <lei>353800WH3SH4B0OO8074</lei>
        <title>Nippon Signal Company, Ltd 26</title>
        <cusip>J55827117</cusip>
        <identifiers>
          <isin value="JP3716000009"/>
        </identifiers>
        <balance>22505.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>168043.48000000</valUSD>
        <pctVal>0.195922015114</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>Kanamoto Co Ltd</name>
        <lei>N/A</lei>
        <title>Kanamoto Co Ltd </title>
        <cusip>J29557105</cusip>
        <identifiers>
          <isin value="JP3215200001"/>
        </identifiers>
        <balance>13055.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>293047.26000000</valUSD>
        <pctVal>0.341664012807</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>Vicat SA</name>
        <lei>9695009YI1863TOVDP79</lei>
        <title>Vicat S.A. </title>
        <cusip>F18060107</cusip>
        <identifiers>
          <isin value="FR0000031775"/>
        </identifiers>
        <balance>9466.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>655790.27000000</valUSD>
        <pctVal>0.764586351048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Elecom Co., Ltd.</name>
        <lei>353800BXFUVR7EPC0G35</lei>
        <title>Elecom Company Ltd. </title>
        <cusip>J12884102</cusip>
        <identifiers>
          <isin value="JP3168200008"/>
        </identifiers>
        <balance>11300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>141589.59000000</valUSD>
        <pctVal>0.165079405592</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>Thyssenkrupp AG</name>
        <lei>549300UDG16DOYUPR330</lei>
        <title>THYSSENKRUPP AG </title>
        <cusip>D8398Q119</cusip>
        <identifiers>
          <isin value="DE0007500001"/>
        </identifiers>
        <balance>18486.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>199229.98000000</valUSD>
        <pctVal>0.232282378065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Blue Square Real Estate Ltd.</name>
        <lei>N/A</lei>
        <title>Blue Square Real Estate Ltd. 28</title>
        <cusip>M20259103</cusip>
        <identifiers>
          <isin value="IL0010985658"/>
        </identifiers>
        <balance>3350.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>386511.68000000</valUSD>
        <pctVal>0.450634247819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Supermarket Income Reit Public Limited Company</name>
        <lei>2138007FOINJKAM7L537</lei>
        <title>Supermarket Income Reit plc </title>
        <cusip>G8586X105</cusip>
        <identifiers>
          <isin value="GB00BF345X11"/>
        </identifiers>
        <balance>311509.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>363005.30000000</valUSD>
        <pctVal>0.423228142342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reach PLC</name>
        <lei>213800GNI5XF3XOATR61</lei>
        <title>Reach PLC </title>
        <cusip>G7464Q109</cusip>
        <identifiers>
          <isin value="GB0009039941"/>
        </identifiers>
        <balance>249483.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>250660.98000000</valUSD>
        <pctVal>0.292245818237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZIM Integrated Shipping Services Ltd</name>
        <lei>21380089EIJRELKAIL21</lei>
        <title>ZIM Integrated Shipping Services Ltd. </title>
        <cusip>M9T951109</cusip>
        <identifiers>
          <isin value="IL0065100930"/>
        </identifiers>
        <balance>19200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>308928.00000000</valUSD>
        <pctVal>0.360179379082</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chugoku Marine Paints Ltd</name>
        <lei>N/A</lei>
        <title>Chugoku Marine Paints Ltd </title>
        <cusip>J07182116</cusip>
        <identifiers>
          <isin value="JP3522600000"/>
        </identifiers>
        <balance>18800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>352764.71000000</valUSD>
        <pctVal>0.411288631040</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>Vetropack Holding SA</name>
        <lei>894500HGD08C8B6GS128</lei>
        <title>Vetropack Holding AG </title>
        <cusip>H91266264</cusip>
        <identifiers>
          <isin value="CH0530235594"/>
        </identifiers>
        <balance>3827.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>154276.00000000</valUSD>
        <pctVal>0.179870500204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deutz AG</name>
        <lei>5299005DETTV58V2PP63</lei>
        <title>DEUTZ AG </title>
        <cusip>D39176108</cusip>
        <identifiers>
          <isin value="DE0006305006"/>
        </identifiers>
        <balance>6549.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>59035.16000000</valUSD>
        <pctVal>0.068829135827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitchells &amp; Butlers PLC</name>
        <lei>213800JHYNDNB1NS2W10</lei>
        <title>Mitchells &amp; Butlers plc </title>
        <cusip>G61614122</cusip>
        <identifiers>
          <isin value="GB00B1FP6H53"/>
        </identifiers>
        <balance>41193.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>162085.99000000</valUSD>
        <pctVal>0.188976173205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Raito Kogyo Co Ltd</name>
        <lei>N/A</lei>
        <title>RAITO KOGYO CO., LTD </title>
        <cusip>J64253107</cusip>
        <identifiers>
          <isin value="JP3965800000"/>
        </identifiers>
        <balance>13000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>258048.17000000</valUSD>
        <pctVal>0.300858548412</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>Kaga Electronics Co Ltd.</name>
        <lei>3538005V2HARHWLTPJ42</lei>
        <title>Kaga Electronics Co., Ltd. </title>
        <cusip>J28922102</cusip>
        <identifiers>
          <isin value="JP3206200002"/>
        </identifiers>
        <balance>15300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>290194.92000000</valUSD>
        <pctVal>0.338338467534</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>RS Technologies Co Ltd</name>
        <lei>N/A</lei>
        <title>RS Technologies Co. LTD </title>
        <cusip>J65609109</cusip>
        <identifiers>
          <isin value="JP3100350002"/>
        </identifiers>
        <balance>15745.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>345797.58000000</valUSD>
        <pctVal>0.403165649124</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>Hoegh Autoliners ASA</name>
        <lei>549300D7GNMPKTA4HD46</lei>
        <title>Hoegh Autoliners ASA </title>
        <cusip>R3R18C109</cusip>
        <identifiers>
          <isin value="NO0011082075"/>
        </identifiers>
        <balance>33547.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>297212.75000000</valUSD>
        <pctVal>0.346520560617</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colruyt Group N.V</name>
        <lei>5493000O0NZ1BCXO8K39</lei>
        <title>Etablissements Franz Colruyt N.V. </title>
        <cusip>B26882231</cusip>
        <identifiers>
          <isin value="BE0974256852"/>
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        <balance>1330.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>57550.73000000</valUSD>
        <pctVal>0.067098437814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ConvaTec Group PLC</name>
        <lei>213800LS272L4FIDOH92</lei>
        <title>ConvaTec Group PLC </title>
        <cusip>G23969101</cusip>
        <identifiers>
          <isin value="GB00BD3VFW73"/>
        </identifiers>
        <balance>44244.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>175242.46000000</valUSD>
        <pctVal>0.204315311113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Centuria Office REIT</name>
        <lei>984500D9D1RFE9AF4796</lei>
        <title>Centuria Office REIT </title>
        <cusip>Q2227Z107</cusip>
        <identifiers>
          <isin value="AU0000077893"/>
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        <balance>295698.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>219108.63000000</valUSD>
        <pctVal>0.255458910506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Formula Systems (1985) Ltd.</name>
        <lei>5299007HN634606FI520</lei>
        <title>Formula Systems (1985) Ltd. </title>
        <cusip>M46518102</cusip>
        <identifiers>
          <isin value="IL0002560162"/>
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        <balance>1943.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>247728.86000000</valUSD>
        <pctVal>0.288827257404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Musashino Bank Ltd.</name>
        <lei>353800L8RJMVN2OOS612</lei>
        <title>Musashino Bank Ltd. (The) </title>
        <cusip>J46883104</cusip>
        <identifiers>
          <isin value="JP3912800004"/>
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        <balance>4600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>104029.11000000</valUSD>
        <pctVal>0.121287614739</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>Ferrotec Holdings Corp.</name>
        <lei>3538005N4KWZD4R07U97</lei>
        <title>Ferrotec Holdings Corp </title>
        <cusip>J1347N109</cusip>
        <identifiers>
          <isin value="JP3802720007"/>
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        <balance>17100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>360689.33000000</valUSD>
        <pctVal>0.420527951241</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>Carmila SAS</name>
        <lei>222100P6D3QKU33LZQ72</lei>
        <title>CARMILA </title>
        <cusip>F1387K266</cusip>
        <identifiers>
          <isin value="FR0010828137"/>
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        <balance>14726.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>289601.76000000</valUSD>
        <pctVal>0.337646901860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fuji Seal International Inc</name>
        <lei>N/A</lei>
        <title>Fuji Seal International, Inc. </title>
        <cusip>J15183106</cusip>
        <identifiers>
          <isin value="JP3813800004"/>
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        <balance>14500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>280129.43000000</valUSD>
        <pctVal>0.326603105448</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>Starzen Co Ltd</name>
        <lei>N/A</lei>
        <title>Starzen Co Ltd </title>
        <cusip>J7670K109</cusip>
        <identifiers>
          <isin value="JP3399100001"/>
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        <balance>14115.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>107903.71000000</valUSD>
        <pctVal>0.125805013687</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>Okamura Corp</name>
        <lei>35380084C4I8EO2QWD96</lei>
        <title>Okamura Corporation </title>
        <cusip>J60514114</cusip>
        <identifiers>
          <isin value="JP3192400004"/>
        </identifiers>
        <balance>9700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>149335.78000000</valUSD>
        <pctVal>0.174110694126</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>Econocom Group</name>
        <lei>5493006G5O9JP185PU76</lei>
        <title>Econocom Group SE </title>
        <cusip>B33899178</cusip>
        <identifiers>
          <isin value="BE0974313455"/>
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        <balance>29440.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>67549.02000000</valUSD>
        <pctVal>0.078755451371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oc Oerlikon Corp AG</name>
        <lei>529900I8VLAZR2FJ0M10</lei>
        <title>OC Oerlikon Corp AG </title>
        <cusip>H59187106</cusip>
        <identifiers>
          <isin value="CH0000816824"/>
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        <balance>31925.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>148745.19000000</valUSD>
        <pctVal>0.173422124817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Keller Group PLC</name>
        <lei>549300QO4MBL43UHSN10</lei>
        <title>Keller Group PLC </title>
        <cusip>G5222K109</cusip>
        <identifiers>
          <isin value="GB0004866223"/>
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        <balance>36188.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>727973.45000000</valUSD>
        <pctVal>0.848744772922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ramelius Resources Ltd.</name>
        <lei>254900E44AIGW7KKNR98</lei>
        <title>Ramelius Resources, Ltd. </title>
        <cusip>Q7982E108</cusip>
        <identifiers>
          <isin value="AU000000RMS4"/>
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        <balance>268151.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>451536.53000000</valUSD>
        <pctVal>0.526446767558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tadano Ltd</name>
        <lei>N/A</lei>
        <title>Tadano Ltd. </title>
        <cusip>J79002101</cusip>
        <identifiers>
          <isin value="JP3465000002"/>
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        <balance>42504.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>282856.47000000</valUSD>
        <pctVal>0.329782563361</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>Nippon Shinyaku Co</name>
        <lei>N/A</lei>
        <title>Nippon Shinyaku Co., Ltd. </title>
        <cusip>J55784102</cusip>
        <identifiers>
          <isin value="JP3717600005"/>
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        <balance>13700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>298926.27000000</valUSD>
        <pctVal>0.348518354827</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>Sigma Healthcare Ltd.</name>
        <lei>529900BZSP3BK7GYAO50</lei>
        <title>Sigma Healthcare Ltd. </title>
        <cusip>Q8T84B108</cusip>
        <identifiers>
          <isin value="AU000000SIG5"/>
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        <balance>20039.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>39442.98000000</valUSD>
        <pctVal>0.045986598966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Betsson AB (publ)</name>
        <lei>549300W61XW8OFGBG077</lei>
        <title>Betsson A.B. </title>
        <cusip>W1556V193</cusip>
        <identifiers>
          <isin value="SE0022726485"/>
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        <balance>44829.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>949235.26000000</valUSD>
        <pctVal>1.106714077551</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Kanadevia Corp.</name>
        <lei>5493006MPD0OCAMCE046</lei>
        <title>Kanadevia Corporation </title>
        <cusip>J20790101</cusip>
        <identifiers>
          <isin value="JP3789000001"/>
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        <balance>38496.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>260057.74000000</valUSD>
        <pctVal>0.303201507531</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>Lancashire Holdings Limited</name>
        <lei>5493002UNUYXLHOWF752</lei>
        <title>LANCASHIRE HOLDINGS LTD </title>
        <cusip>G5361W104</cusip>
        <identifiers>
          <isin value="BMG5361W1047"/>
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        <balance>48688.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>384259.36000000</valUSD>
        <pctVal>0.448008266299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westgold Resources Ltd.</name>
        <lei>2549003AMX9BL7CKBQ74</lei>
        <title>Westgold Resources Limited </title>
        <cusip>Q97159232</cusip>
        <identifiers>
          <isin value="AU000000WGX6"/>
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        <balance>84182.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>161065.53000000</valUSD>
        <pctVal>0.187786418152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aker ASA</name>
        <lei>5967007LIEEXZXJ10071</lei>
        <title>Aker ASA </title>
        <cusip>R0114P108</cusip>
        <identifiers>
          <isin value="NO0010234552"/>
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        <balance>2741.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>178374.69000000</valUSD>
        <pctVal>0.207967180340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Proximus S.A</name>
        <lei>549300CWRXC5EP004533</lei>
        <title>Proximus SA </title>
        <cusip>B6951K109</cusip>
        <identifiers>
          <isin value="BE0003810273"/>
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        <balance>67281.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>656247.54000000</valUSD>
        <pctVal>0.765119482473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hugo Boss AG</name>
        <lei>529900LFVU534EBRXD13</lei>
        <title>Hugo Boss AG </title>
        <cusip>D34902102</cusip>
        <identifiers>
          <isin value="DE000A1PHFF7"/>
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        <balance>1133.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>52495.58000000</valUSD>
        <pctVal>0.061204634765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Navigator Company SA</name>
        <lei>549300UNIB7M2AXUXS35</lei>
        <title>The Navigator Co SA </title>
        <cusip>X67182109</cusip>
        <identifiers>
          <isin value="PTPTI0AM0006"/>
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        <balance>76809.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>288563.27000000</valUSD>
        <pctVal>0.336436125616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>G8 Education Ltd.</name>
        <lei>5299008FNTQ0LDQ3UZ44</lei>
        <title>G8 Education Ltd. </title>
        <cusip>Q3973C110</cusip>
        <identifiers>
          <isin value="AU000000GEM7"/>
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        <balance>506990.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>393982.35000000</valUSD>
        <pctVal>0.459344307386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <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>Tokyu Fudosan Holdings Corp.</name>
        <lei>N/A</lei>
        <title>TOKYU FUDOSAN HOLDINGS CORP. </title>
        <cusip>J88764105</cusip>
        <identifiers>
          <isin value="JP3569200003"/>
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        <balance>71100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>508008.49000000</valUSD>
        <pctVal>0.592287466648</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>
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      <invstOrSec>
        <name>Dicker Data Ltd</name>
        <lei>549300Z9AR1B5G2UQJ37</lei>
        <title>Dicker Data, Ltd. </title>
        <cusip>Q318AK102</cusip>
        <identifiers>
          <isin value="AU000000DDR5"/>
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        <balance>46792.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>248894.05000000</valUSD>
        <pctVal>0.290185753270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <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>Sydbank AS</name>
        <lei>GP5DT10VX1QRQUKVBK64</lei>
        <title>Sydbank A/S </title>
        <cusip>K9419V113</cusip>
        <identifiers>
          <isin value="DK0010311471"/>
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        <balance>9440.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.33358000"/>
        <valUSD>700215.69000000</valUSD>
        <pctVal>0.816381980422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gestamp Automocion S A</name>
        <lei>95980020140005484363</lei>
        <title>Gestamp Automocion, S.A., </title>
        <cusip>E5R71W108</cusip>
        <identifiers>
          <isin value="ES0105223004"/>
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        <balance>50772.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>175357.16000000</valUSD>
        <pctVal>0.204449039926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aroundtown SA</name>
        <lei>529900H4DWG3KWMBMQ39</lei>
        <title>AROUNDTOWN SA </title>
        <cusip>L0269F109</cusip>
        <identifiers>
          <isin value="LU1673108939"/>
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        <balance>29475.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>108424.50000000</valUSD>
        <pctVal>0.126412203126</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Rank Group PLC</name>
        <lei>213800TXKD6XZWOFTE12</lei>
        <title>Rank Group plc </title>
        <cusip>G7377H121</cusip>
        <identifiers>
          <isin value="GB00B1L5QH97"/>
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        <balance>91094.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>166293.81000000</valUSD>
        <pctVal>0.193882073593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SKY Perfect JSAT Holdings Inc.</name>
        <lei>5299009SAF34W9TVEF26</lei>
        <title>SKY Perfect JSAT Holdings Inc </title>
        <cusip>J75606103</cusip>
        <identifiers>
          <isin value="JP3396350005"/>
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        <balance>21800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>218388.16000000</valUSD>
        <pctVal>0.254618914011</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>Kyokuto Kaihatsu Kogyo Co Ltd</name>
        <lei>N/A</lei>
        <title>Kyokuto Kaihatsu Kogyo Co.,Ltd. </title>
        <cusip>J3775L100</cusip>
        <identifiers>
          <isin value="JP3256900006"/>
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        <balance>19000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>352843.77000000</valUSD>
        <pctVal>0.411380807151</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>Electric Power Development Co Ltd.</name>
        <lei>549300KMHPUAQI8VEH90</lei>
        <title>ELECTRIC POWER DEVELOPMENT </title>
        <cusip>J12915104</cusip>
        <identifiers>
          <isin value="JP3551200003"/>
        </identifiers>
        <balance>23600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>402610.70000000</valUSD>
        <pctVal>0.469404106904</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>Carnival PLC</name>
        <lei>4DR1VPDQMHD3N3QW8W95</lei>
        <title>CARNIVAL PLC </title>
        <cusip>G19081101</cusip>
        <identifiers>
          <isin value="GB0031215220"/>
        </identifiers>
        <balance>10345.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>262705.06000000</valUSD>
        <pctVal>0.306288019838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IPH Ltd.</name>
        <lei>529900KRTADQ17ANK140</lei>
        <title>IPH Ltd. </title>
        <cusip>Q496B9100</cusip>
        <identifiers>
          <isin value="AU000000IPH9"/>
        </identifiers>
        <balance>109273.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>329227.09000000</valUSD>
        <pctVal>0.383846102824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schaeffler AG</name>
        <lei>549300Q7E782X7GC1P43</lei>
        <title>Schaeffler A.G. </title>
        <cusip>D6T0B6155</cusip>
        <identifiers>
          <isin value="DE000SHA0100"/>
        </identifiers>
        <balance>16823.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>92008.52000000</valUSD>
        <pctVal>0.107272800147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Konoike Transport Co Ltd.</name>
        <lei>3538004PLQ2IF2DMNC61</lei>
        <title>Konoike Transport Co Ltd </title>
        <cusip>J3S43H105</cusip>
        <identifiers>
          <isin value="JP3288970001"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>408329.13000000</valUSD>
        <pctVal>0.476071228586</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>Esso(Francaise)</name>
        <lei>969500NI2T909ECQHX32</lei>
        <title>Esso S.A. Francaise </title>
        <cusip>F31710100</cusip>
        <identifiers>
          <isin value="FR0000120669"/>
        </identifiers>
        <balance>1170.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>207103.93000000</valUSD>
        <pctVal>0.241462622076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beach Energy Ltd.</name>
        <lei>8Q9PJD25OKTQT5FHUF40</lei>
        <title>Beach Energy Ltd </title>
        <cusip>Q13921103</cusip>
        <identifiers>
          <isin value="AU000000BPT9"/>
        </identifiers>
        <balance>46968.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>40750.82000000</valUSD>
        <pctVal>0.047511410570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mapletree Pan Asia Commercial Trust</name>
        <lei>549300BF18K4IC5LZ208</lei>
        <title>Mapletree Pan Asia Commercial Trust </title>
        <cusip>Y5759T101</cusip>
        <identifiers>
          <isin value="SG2D18969584"/>
        </identifiers>
        <balance>79800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.27154000"/>
        <valUSD>79200.72000000</valUSD>
        <pctVal>0.092340176845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Marks &amp; Spencer Group PLC</name>
        <lei>213800EJP14A79ZG1X44</lei>
        <title>Marks &amp; Spencer Group plc </title>
        <cusip>G5824M107</cusip>
        <identifiers>
          <isin value="GB0031274896"/>
        </identifiers>
        <balance>8481.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>41274.84000000</valUSD>
        <pctVal>0.048122365868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barco NV</name>
        <lei>549300N17QCD827TII61</lei>
        <title>Barco N.V. </title>
        <cusip>B0833G105</cusip>
        <identifiers>
          <isin value="BE0974362940"/>
        </identifiers>
        <balance>5205.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>76268.40000000</valUSD>
        <pctVal>0.088921382832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Perenti Ltd.</name>
        <lei>25490044GUNE4S2E6K11</lei>
        <title>Perenti Global Limited </title>
        <cusip>Q73992101</cusip>
        <identifiers>
          <isin value="AU0000061897"/>
        </identifiers>
        <balance>481507.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>514345.75000000</valUSD>
        <pctVal>0.599676082675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tsumura &amp; Co</name>
        <lei>N/A</lei>
        <title>TSUMURA &amp; CO. </title>
        <cusip>J93407120</cusip>
        <identifiers>
          <isin value="JP3535800001"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>361970.99000000</valUSD>
        <pctVal>0.422022239564</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>Berkeley Group Holdings PLC</name>
        <lei>2138009OQSSLVVHQAL78</lei>
        <title>Berkeley Group Holdings plc </title>
        <cusip>G1191G153</cusip>
        <identifiers>
          <isin value="GB00BP0RGD03"/>
        </identifiers>
        <balance>913.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>48372.45000000</valUSD>
        <pctVal>0.056397474510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Norion Bank AB</name>
        <lei>529900AGWAKUTYNETM62</lei>
        <title>Collector Bank A.B. </title>
        <cusip>W2R057101</cusip>
        <identifiers>
          <isin value="SE0017831795"/>
        </identifiers>
        <balance>49366.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>265445.28000000</valUSD>
        <pctVal>0.309482844322</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>Financial Partners Group Co Ltd.</name>
        <lei>N/A</lei>
        <title>Financial Products Group Co.,Ltd. </title>
        <cusip>J14302103</cusip>
        <identifiers>
          <isin value="JP3166990006"/>
        </identifiers>
        <balance>6800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>112685.55000000</valUSD>
        <pctVal>0.131380164409</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>Investec PLC</name>
        <lei>2138007Z3U5GWDN3MY22</lei>
        <title>Investec plc </title>
        <cusip>G49188116</cusip>
        <identifiers>
          <isin value="GB00B17BBQ50"/>
        </identifiers>
        <balance>9853.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>73705.46000000</valUSD>
        <pctVal>0.085933249228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prime US REIT</name>
        <lei>N/A</lei>
        <title>Prime US REIT </title>
        <cusip>Y475LA101</cusip>
        <identifiers>
          <isin value="SGXC75818630"/>
        </identifiers>
        <balance>866910.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>139566.44000000</valUSD>
        <pctVal>0.162720613540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Nanto Bank, Ltd.</name>
        <lei>353800923E4YW3IDES52</lei>
        <title>Nanto Bank Ltd/The </title>
        <cusip>J48517106</cusip>
        <identifiers>
          <isin value="JP3653400006"/>
        </identifiers>
        <balance>3800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>108102.31000000</valUSD>
        <pctVal>0.126036561571</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>B&amp;M European Value Retail SA</name>
        <lei>213800UK7ZRLY2K1X530</lei>
        <title>B &amp; M European Value Retail SA </title>
        <cusip>L1175H106</cusip>
        <identifiers>
          <isin value="LU1072616219"/>
        </identifiers>
        <balance>11394.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>42433.51000000</valUSD>
        <pctVal>0.049473260060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yodogawa Steel Works</name>
        <lei>N/A</lei>
        <title>Yodogawa Steel Works Ltd </title>
        <cusip>J97140115</cusip>
        <identifiers>
          <isin value="JP3959400007"/>
        </identifiers>
        <balance>37500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>297751.98000000</valUSD>
        <pctVal>0.347149249265</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>Tecnicas Reunidas SA</name>
        <lei>213800JEZBUPZKWJGF49</lei>
        <title>Tecnicas Reunidas S.A. </title>
        <cusip>E9055J108</cusip>
        <identifiers>
          <isin value="ES0178165017"/>
        </identifiers>
        <balance>2210.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>51033.53000000</valUSD>
        <pctVal>0.059500029611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>G City Ltd</name>
        <lei>213800EO12XXGZSQ2A73</lei>
        <title>Gazit-Globe Ltd </title>
        <cusip>M4793C102</cusip>
        <identifiers>
          <isin value="IL0001260111"/>
        </identifiers>
        <balance>80537.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.36810000"/>
        <valUSD>319299.16000000</valUSD>
        <pctVal>0.372271122042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Contact Energy Ltd</name>
        <lei>549300FT5JOXS1PZ1I32</lei>
        <title>Contact Energy Limited </title>
        <cusip>Q2818G104</cusip>
        <identifiers>
          <isin value="NZCENE0001S6"/>
        </identifiers>
        <balance>27982.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.64040000"/>
        <valUSD>153575.18000000</valUSD>
        <pctVal>0.179053413659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wakita &amp; Co</name>
        <lei>N/A</lei>
        <title>Wakita &amp; Co., Ltd. </title>
        <cusip>J94852100</cusip>
        <identifiers>
          <isin value="JP3992000004"/>
        </identifiers>
        <balance>18800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>220118.79000000</valUSD>
        <pctVal>0.256636656782</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>Porr AG</name>
        <lei>529900ARBU9SBJFNX419</lei>
        <title>Porr AG </title>
        <cusip>A63700115</cusip>
        <identifiers>
          <isin value="AT0000609607"/>
        </identifiers>
        <balance>8890.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>296678.65000000</valUSD>
        <pctVal>0.345897853040</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>G-Tekt Corp.</name>
        <lei>N/A</lei>
        <title>G-Tekt Corp </title>
        <cusip>J32653107</cusip>
        <identifiers>
          <isin value="JP3236750000"/>
        </identifiers>
        <balance>22211.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>272521.29000000</valUSD>
        <pctVal>0.317732769509</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 Corporation</name>
        <lei>N/A</lei>
        <title>Life Corporation </title>
        <cusip>J38828109</cusip>
        <identifiers>
          <isin value="JP3966600003"/>
        </identifiers>
        <balance>48010.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>736243.33000000</valUSD>
        <pctVal>0.858386632007</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>Sagax AB</name>
        <lei>549300LJX28T6OM8DT95</lei>
        <title>AB Sagax </title>
        <cusip>W7519A226</cusip>
        <identifiers>
          <isin value="SE0009161052"/>
        </identifiers>
        <balance>151342.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.46019000"/>
        <valUSD>536529.75000000</valUSD>
        <pctVal>0.625540424352</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>J-Oil Mills Inc</name>
        <lei>353800RFBICAX3MSBI46</lei>
        <title>J-Oil Mills Inc </title>
        <cusip>J2838H106</cusip>
        <identifiers>
          <isin value="JP3840000008"/>
        </identifiers>
        <balance>14106.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>191905.71000000</valUSD>
        <pctVal>0.223743006364</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>Odfjell SE</name>
        <lei>529900J8VSH14TP5VD23</lei>
        <title>Odfjell S.E. </title>
        <cusip>R64958110</cusip>
        <identifiers>
          <isin value="NO0003399909"/>
        </identifiers>
        <balance>8373.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.07837000"/>
        <valUSD>89809.77000000</valUSD>
        <pctVal>0.104709275928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pepper Money Limited</name>
        <lei>549300YIM8RX3KHGIU35</lei>
        <title>Pepper Money Ltd./Australia </title>
        <cusip>Q7389W107</cusip>
        <identifiers>
          <isin value="AU0000150898"/>
        </identifiers>
        <balance>47161.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51940000"/>
        <valUSD>55945.20000000</valUSD>
        <pctVal>0.065226549223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Drax Group PLC</name>
        <lei>549300YPSNTXR4ZHSR98</lei>
        <title>Drax Group plc </title>
        <cusip>G2904K127</cusip>
        <identifiers>
          <isin value="GB00B1VNSX38"/>
        </identifiers>
        <balance>43399.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72856000"/>
        <valUSD>413604.93000000</valUSD>
        <pctVal>0.482222287629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippn Corporation</name>
        <lei>353800V7HRZ1HQGJCW63</lei>
        <title>Nippn Corporation </title>
        <cusip>J5179A101</cusip>
        <identifiers>
          <isin value="JP3723000000"/>
        </identifiers>
        <balance>6200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>91633.58000000</valUSD>
        <pctVal>0.106835657329</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>NGK Insulators Ltd</name>
        <lei>353800701BNCL25VYY16</lei>
        <title>NGK Insulators Ltd. </title>
        <cusip>J49076110</cusip>
        <identifiers>
          <isin value="JP3695200000"/>
        </identifiers>
        <balance>38000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>476878.15000000</valUSD>
        <pctVal>0.555992580682</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>Prosegur Cash SA</name>
        <lei>9598005HY5DEFPU2SM35</lei>
        <title>Prosegur Cash, S.A. 19</title>
        <cusip>E8S56X108</cusip>
        <identifiers>
          <isin value="ES0105229001"/>
        </identifiers>
        <balance>108014.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84900000"/>
        <valUSD>103815.57000000</valUSD>
        <pctVal>0.121038648298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Nisshin OilliO Group Ltd.</name>
        <lei>549300DMFXTY70ZEGQ59</lei>
        <title>Nisshin Oillio Group (The), Ltd. </title>
        <cusip>J57719122</cusip>
        <identifiers>
          <isin value="JP3677200002"/>
        </identifiers>
        <balance>8400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>284615.05000000</valUSD>
        <pctVal>0.331832893057</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>SoftwareONE Holding AG</name>
        <lei>529900GBI88JKWXLGI05</lei>
        <title>Softwareone Holding AG </title>
        <cusip>H5682F102</cusip>
        <identifiers>
          <isin value="CH0496451508"/>
        </identifiers>
        <balance>55136.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79340000"/>
        <valUSD>550552.48000000</valUSD>
        <pctVal>0.641889535421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kandenko Co Ltd</name>
        <lei>35380080NSN7GCYZ3X14</lei>
        <title>KANDENKO CO., LTD. </title>
        <cusip>J29653102</cusip>
        <identifiers>
          <isin value="JP3230600003"/>
        </identifiers>
        <balance>2000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.03000000"/>
        <valUSD>46154.21000000</valUSD>
        <pctVal>0.053811226887</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>SBH International Small Cap Fund</ncom:nameOfApplicant>
      <ncom:signature>Daniel D. Bauer</ncom:signature>
      <ncom:signerName>Daniel D. Bauer</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
