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        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>13724656.16000000</valUSD>
        <pctVal>0.530770011324</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>JOHN MATTSON FASTIGHETSFORETAGEN AB</name>
        <lei>549300UP4ZA93HCPRZ59</lei>
        <title>JOHN MATTSON FASTIGHETSFORETAGEN AB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0012481364"/>
        </identifiers>
        <balance>592400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.62690000"/>
        <valUSD>8676562.55000000</valUSD>
        <pctVal>0.335546417282</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>TP ICAP PLC</name>
        <lei>5493009UWRK48KKUD358</lei>
        <title>TP ICAP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B1H0DZ51"/>
        </identifiers>
        <balance>4303184.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>22553264.78000000</valUSD>
        <pctVal>0.872196466208</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>FIDELITY REVERE STREET TRUST</name>
        <lei>549300BDV45LJNXBZC55</lei>
        <title>Fidelity Securities Lending Cash Central Fund</title>
        <cusip>31635A303</cusip>
        <identifiers>
          <isin value="US31635A3032"/>
        </identifiers>
        <balance>25742045.45600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25744619.66000000</valUSD>
        <pctVal>0.995614892583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="25744619.66" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YUNG CHI PAINT and VARNSH CO LTD</name>
        <lei>N/A</lei>
        <title>YUNG CHI PAINT and VARNISH CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001726008"/>
        </identifiers>
        <balance>2551000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.37600000"/>
        <valUSD>5879152.97000000</valUSD>
        <pctVal>0.227362933692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OPEN TEXT CORPORATION</name>
        <lei>549300UQROQS42RKHM85</lei>
        <title>OPEN TEXT CORPORATION</title>
        <cusip>683715106</cusip>
        <identifiers>
          <isin value="CA6837151068"/>
        </identifiers>
        <balance>482396.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>21710371.59000000</valUSD>
        <pctVal>0.839599479968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NANOSONICS LTD</name>
        <lei>549300XUBCM70BRANN81</lei>
        <title>NANOSONICS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000NAN9"/>
        </identifiers>
        <balance>1887880.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>8606853.69000000</valUSD>
        <pctVal>0.332850584907</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>AS ONE CORPORATION</name>
        <lei>N/A</lei>
        <title>AS ONE CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3131300000"/>
        </identifiers>
        <balance>92400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>8373391.64000000</valUSD>
        <pctVal>0.323821968563</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>STABILUS SA</name>
        <lei>529900JOSL94HJN4VZ28</lei>
        <title>STABILUS SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="LU1066226637"/>
        </identifiers>
        <balance>217400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>13280199.49000000</valUSD>
        <pctVal>0.513581655636</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>TEST RESEARCH CO LTD</name>
        <lei>N/A</lei>
        <title>TEST RESEARCH CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003030003"/>
        </identifiers>
        <balance>7475000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.37600000"/>
        <valUSD>13329761.65000000</valUSD>
        <pctVal>0.515498359991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEITEC CORP</name>
        <lei>N/A</lei>
        <title>MEITEC CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3919200000"/>
        </identifiers>
        <balance>205400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>11676099.32000000</valUSD>
        <pctVal>0.451546712431</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>THERMADOR GROUPE SA</name>
        <lei>969500SSIGMAGT008F11</lei>
        <title>THERMADOR HOLDINGS SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013333432"/>
        </identifiers>
        <balance>192266.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>11685146.91000000</valUSD>
        <pctVal>0.451896607495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPAR NORD BANK A/S</name>
        <lei>549300DHT635Q5P8J715</lei>
        <title>SPAR NORD BANKAKTIELSKAB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0060036564"/>
        </identifiers>
        <balance>1685026.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.73790000"/>
        <valUSD>16330339.99000000</valUSD>
        <pctVal>0.631538935502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S FOODS INC</name>
        <lei>N/A</lei>
        <title>S FOODS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3399300007"/>
        </identifiers>
        <balance>688469.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>16555679.32000000</valUSD>
        <pctVal>0.640253424036</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>TFI INTERNATIONAL INC</name>
        <lei>N/A</lei>
        <title>TFI INTERNATIONAL INC</title>
        <cusip>87241L109</cusip>
        <identifiers>
          <isin value="CA87241L1094"/>
        </identifiers>
        <balance>447200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>14320943.03000000</valUSD>
        <pctVal>0.553830056330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RECORDATI SPA</name>
        <lei>815600FBF92FD3531704</lei>
        <title>RECORDATI SPA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IT0003828271"/>
        </identifiers>
        <balance>466900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>20003210.70000000</valUSD>
        <pctVal>0.773578896694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HITACHI HIGH TECHNOLOGIES CORP</name>
        <lei>353800W8CVM6G32NTH93</lei>
        <title>HITACHI HIGH TECHNOLOGIES CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3678800008"/>
        </identifiers>
        <balance>98700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>7057044.51000000</valUSD>
        <pctVal>0.272915222853</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>THK CO LTD</name>
        <lei>N/A</lei>
        <title>THK CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3539250005"/>
        </identifiers>
        <balance>578900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14432519.09000000</valUSD>
        <pctVal>0.558145007899</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>NSD CO LTD</name>
        <lei>N/A</lei>
        <title>NSD CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3712600000"/>
        </identifiers>
        <balance>743800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>11984419.22000000</valUSD>
        <pctVal>0.463470286684</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>SCANDINAVIAN TOBACCO GROUP</name>
        <lei>5299003KG4JS99TRML67</lei>
        <title>SCANDINAVIAN TOBACCO GROUP A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0060696300"/>
        </identifiers>
        <balance>1052628.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.73790000"/>
        <valUSD>13802473.14000000</valUSD>
        <pctVal>0.533779406887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEIR GROUP PLC</name>
        <lei>549300KDR56WHY9I3D10</lei>
        <title>WEIR GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0009465807"/>
        </identifiers>
        <balance>538738.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>9589719.52000000</valUSD>
        <pctVal>0.370860696172</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>DUSTIN GROUP AB</name>
        <lei>549300C3IRYAOWOT0783</lei>
        <title>DUSTIN GROUP AB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0006625471"/>
        </identifiers>
        <balance>2469941.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.62690000"/>
        <valUSD>19114211.69000000</valUSD>
        <pctVal>0.739198872225</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>HOUR GLASS LTD</name>
        <lei>N/A</lei>
        <title>HOUR GLASS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1AE9000009"/>
        </identifiers>
        <balance>13024580.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.36460000"/>
        <valUSD>7331318.75000000</valUSD>
        <pctVal>0.283522158267</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>COMPUTER MODELLING GROUP LTD</name>
        <lei>N/A</lei>
        <title>COMPUTER MODELLING GROUP LTD</title>
        <cusip>205249105</cusip>
        <identifiers>
          <isin value="CA2052491057"/>
        </identifiers>
        <balance>1161800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>7093353.48000000</valUSD>
        <pctVal>0.274319390082</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAYR MELNHOF KARTON AG</name>
        <lei>5299001AMHDLKUM80611</lei>
        <title>MAYR MELNHOF KARTON AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AT0000938204"/>
        </identifiers>
        <balance>130900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>18001656.03000000</valUSD>
        <pctVal>0.696173300337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARATA CORPORATION</name>
        <lei>N/A</lei>
        <title>ARATA CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3125100002"/>
        </identifiers>
        <balance>635200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>26273178.47000000</valUSD>
        <pctVal>1.016055708170</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>HISCOX LTD</name>
        <lei>5493007JXOLJ0QCY2D70</lei>
        <title>HISCOX LTD (NE HISCOX BERMUDA)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG4593F1389"/>
        </identifiers>
        <balance>1009652.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>17505512.87000000</valUSD>
        <pctVal>0.676986086640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAYPOINT PLC</name>
        <lei>5493004YKWI8U0GDD138</lei>
        <title>PAYPOINT LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B02QND93"/>
        </identifiers>
        <balance>484911.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>6396846.47000000</valUSD>
        <pctVal>0.247383558009</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>PERSOL HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>PERSOL HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3547670004"/>
        </identifiers>
        <balance>1160700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>20751202.35000000</valUSD>
        <pctVal>0.802505780684</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>AUCNET INC</name>
        <lei>2138008S9UYI8TYJ8H39</lei>
        <title>AUCNET INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3172060000"/>
        </identifiers>
        <balance>699630.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>7655590.85000000</valUSD>
        <pctVal>0.296062647747</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>WESTERN FOREST PRODS INC</name>
        <lei>54930025VS2JPY0XAU56</lei>
        <title>WESTERN FOREST PRODUCTS INC</title>
        <cusip>958211203</cusip>
        <identifiers>
          <isin value="CA9582112038"/>
        </identifiers>
        <balance>13914875.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>11250503.44000000</valUSD>
        <pctVal>0.435087755105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WIENERBERGER AG</name>
        <lei>529900VXIFBHO0SW2I31</lei>
        <title>WIENERBERGER AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AT0000831706"/>
        </identifiers>
        <balance>735000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>20884187.90000000</valUSD>
        <pctVal>0.807648695818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIKYONISHIKAWA CORP</name>
        <lei>N/A</lei>
        <title>DAIKYONISHIKAWA KK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3481300006"/>
        </identifiers>
        <balance>2256800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>15404833.22000000</valUSD>
        <pctVal>0.595747056050</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>SABRE INSURANCE GROUP PLC</name>
        <lei>2138006RXRQ8P8VKGV98</lei>
        <title>SABRE INSURANCE GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BYWVDP49"/>
        </identifiers>
        <balance>2562022.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>10437017.85000000</valUSD>
        <pctVal>0.403628041231</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>IIDA GROUP HOLDINGS CO LTD</name>
        <lei>35380051BV8PV1I4S949</lei>
        <title>IIDA GROUP HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3131090007"/>
        </identifiers>
        <balance>753851.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>12705268.71000000</valUSD>
        <pctVal>0.491347509072</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>ASIAKASTIETO GROUP OYJ</name>
        <lei>743700EPLUWXE25HGM03</lei>
        <title>ASIAKASTIETO GROUP OYJ</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FI4000123195"/>
        </identifiers>
        <balance>293407.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>11128783.77000000</valUSD>
        <pctVal>0.430380522380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="265506.57"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARCADIS NV</name>
        <lei>7245000UZH70GO047N03</lei>
        <title>ARCADIS NV (NETH)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0006237562"/>
        </identifiers>
        <balance>545358.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>12435290.24000000</valUSD>
        <pctVal>0.480906702839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VALUE PARTNERS GROUP LTD</name>
        <lei>549300RYVTCSHFKXHB81</lei>
        <title>VALUE PARTNERS GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG931751005"/>
        </identifiers>
        <balance>22126000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>11900212.56000000</valUSD>
        <pctVal>0.460213784709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YAMADA CONSULTING GROUP CO LTD</name>
        <lei>N/A</lei>
        <title>YAMADA CONSULTING GROUP CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3588100002"/>
        </identifiers>
        <balance>544080.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>7428975.17000000</valUSD>
        <pctVal>0.287298799266</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>CLICKS GROUP LTD</name>
        <lei>378900E967958A677472</lei>
        <title>CLICKS GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000134854"/>
        </identifiers>
        <balance>572218.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.00850000"/>
        <valUSD>9313483.23000000</valUSD>
        <pctVal>0.360177882915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WING TAI HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>WING TAI HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1K66001688"/>
        </identifiers>
        <balance>10439400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.36460000"/>
        <valUSD>15272594.34000000</valUSD>
        <pctVal>0.590633016688</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>RECKON LIMITED</name>
        <lei>549300Z31B2VGMEV1175</lei>
        <title>RECKON LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000RKN9"/>
        </identifiers>
        <balance>5193683.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>2379561.13000000</valUSD>
        <pctVal>0.092024140582</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>IMDEX LIMITED</name>
        <lei>529900H31NX5KRKXB865</lei>
        <title>IMDEX LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000IMD5"/>
        </identifiers>
        <balance>9802920.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>9475340.77000000</valUSD>
        <pctVal>0.366437356911</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>TORRENT PHARMACEUTICALS LTD</name>
        <lei>335800NA6HK275RIJE13</lei>
        <title>TORRENT PHARMA LTD (DEMAT)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE685A01028"/>
        </identifiers>
        <balance>396456.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.55500000"/>
        <valUSD>10675949.07000000</valUSD>
        <pctVal>0.412868165345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEN ENTERTAINMENT GROUP PLC</name>
        <lei>213800SL9HJUQ5BGPX17</lei>
        <title>TEN ENTERTAINMENT GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BF020D33"/>
        </identifiers>
        <balance>4062619.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>16737827.68000000</valUSD>
        <pctVal>0.647297599567</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>TAIHEIYO CEMENT CORP</name>
        <lei>N/A</lei>
        <title>TAIHEIYO CEMENT CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3449020001"/>
        </identifiers>
        <balance>421700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>11349998.50000000</valUSD>
        <pctVal>0.438935501345</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>JOST WERKE AG</name>
        <lei>529900G977BSS7DATK68</lei>
        <title>JOST WERKE AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000JST4000"/>
        </identifiers>
        <balance>454072.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>17122010.81000000</valUSD>
        <pctVal>0.662155012524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHALLENGER LTD</name>
        <lei>549300FUZZTKBSNSO236</lei>
        <title>CHALLENGER LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000CGF5"/>
        </identifiers>
        <balance>2277866.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>13485891.34000000</valUSD>
        <pctVal>0.521536322353</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>CENTURY PACIFIC FOOD INC</name>
        <lei>254900NFV7QTJB821G52</lei>
        <title>CENTURY PACIFIC FOOD INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="PHY1249R1024"/>
        </identifiers>
        <balance>34864000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="51.03000000"/>
        <valUSD>10114864.20000000</valUSD>
        <pctVal>0.391169478010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BASIC-FIT NV</name>
        <lei>724500HUXGTQC07CAZ61</lei>
        <title>BASIC-FIT NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0011872650"/>
        </identifiers>
        <balance>268400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>9957028.75000000</valUSD>
        <pctVal>0.385065549241</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TALANX AG</name>
        <lei>5299006ZIILJ6VJVSJ32</lei>
        <title>TALANX AKTIENGESELLSCHAFT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000TLX1005"/>
        </identifiers>
        <balance>427100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>21353280.56000000</valUSD>
        <pctVal>0.825789792656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VICTREX PLC</name>
        <lei>213800UYNPHAUNHPXL67</lei>
        <title>VICTREX PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0009292243"/>
        </identifiers>
        <balance>506800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>14830123.42000000</valUSD>
        <pctVal>0.573521455387</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>BANCO ABC-BRASIL SA</name>
        <lei>549300K1V1WOTCGNSI96</lei>
        <title>BANCO ABC BRASIL SA PREF A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRABCBACNPR4"/>
        </identifiers>
        <balance>1642726.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.28260000"/>
        <valUSD>8327553.70000000</valUSD>
        <pctVal>0.322049289987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CYIENT LTD</name>
        <lei>335800MJOXTUJ22Y4T72</lei>
        <title>CYIENT LTD (DEMAT)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE136B01020"/>
        </identifiers>
        <balance>1368717.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.55500000"/>
        <valUSD>9371022.81000000</valUSD>
        <pctVal>0.362403095931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABG SUNDAL COLLIER HOLDING ASA</name>
        <lei>5967007LIEEXZXIEMG82</lei>
        <title>ABG SUNDAL COLLIER HOLDING ASA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NO0003021909"/>
        </identifiers>
        <balance>8297366.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.19795000"/>
        <valUSD>3594823.14000000</valUSD>
        <pctVal>0.139021648082</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>ECN CAPITAL CORP</name>
        <lei>549300E2G773NN59KY61</lei>
        <title>ECN CAPITAL CORP</title>
        <cusip>26829L107</cusip>
        <identifiers>
          <isin value="CA26829L1076"/>
        </identifiers>
        <balance>2669986.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>11298112.14000000</valUSD>
        <pctVal>0.436928913816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SELAMAT SEMPURNA TBK PT</name>
        <lei>N/A</lei>
        <title>SELAMAT SEMPURNA TBK PT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000095409"/>
        </identifiers>
        <balance>30723700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13655.00000000"/>
        <valUSD>3116715.17000000</valUSD>
        <pctVal>0.120531904536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MCCOY GLOBAL INC</name>
        <lei>N/A</lei>
        <title>MCCOY GLOBAL INC</title>
        <cusip>57980Q106</cusip>
        <identifiers>
          <isin value="CA57980Q1063"/>
        </identifiers>
        <balance>1328570.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>511992.37000000</valUSD>
        <pctVal>0.019800146018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIHON PARKERIZING CO LTD</name>
        <lei>N/A</lei>
        <title>NIHON PARKERIZING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3744600002"/>
        </identifiers>
        <balance>1935400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>20072995.91000000</valUSD>
        <pctVal>0.776277681732</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>MELROSE INDUSTRIES PLC</name>
        <lei>213800RGNXXZY2M7TR85</lei>
        <title>MELROSE INDUSTRIES PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BZ1G4322"/>
        </identifiers>
        <balance>2385103.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>7344700.45000000</valUSD>
        <pctVal>0.284039665225</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>VISTRY GROUP PLC</name>
        <lei>2138001KOWN7CG9SLK53</lei>
        <title>VISTRY GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0001859296"/>
        </identifiers>
        <balance>953804.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>17381074.81000000</valUSD>
        <pctVal>0.672173726335</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>MAGNIFICENT HOTEL INVESTMENT LTD</name>
        <lei>N/A</lei>
        <title>MAGNIFICENT HOTEL INVESTMENT LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0201008726"/>
        </identifiers>
        <balance>316412000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>6308612.24000000</valUSD>
        <pctVal>0.243971298882</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>LABORATORIOS FARMACEUTICOS ROVI SA</name>
        <lei>95980020140005936480</lei>
        <title>LABORATORIOS FARMA ROVI SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0157261019"/>
        </identifiers>
        <balance>489600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>13520472.95000000</valUSD>
        <pctVal>0.522873687844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YDUQS PART</name>
        <lei>N/A</lei>
        <title>YDUQS PART</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRYDUQACNOR3"/>
        </identifiers>
        <balance>1505200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.28260000"/>
        <valUSD>18525916.97000000</valUSD>
        <pctVal>0.716447905530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JSR CORP</name>
        <lei>353800TL8FC0AWR22506</lei>
        <title>JSR CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3385980002"/>
        </identifiers>
        <balance>1233100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>21962778.98000000</valUSD>
        <pctVal>0.849360764454</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>QINGDAO PORT INTL CO LTD</name>
        <lei>529900URO8Y3C7A1JM55</lei>
        <title>QINGDAO PORT INTL CO LTD H</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001SG2"/>
        </identifiers>
        <balance>26926000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>17466240.12000000</valUSD>
        <pctVal>0.675467301928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HRNETGROUP LTD</name>
        <lei>5493005F7ABID7YZD323</lei>
        <title>HRNETGROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1DH2000003"/>
        </identifiers>
        <balance>7075600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.36460000"/>
        <valUSD>2968267.61000000</valUSD>
        <pctVal>0.114791031163</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>SANTEN PHARMACEUTICAL CO LTD</name>
        <lei>529900TPT3I7C17MIM03</lei>
        <title>SANTEN PHARMACEUTICAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3336000009"/>
        </identifiers>
        <balance>738000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>13764123.32000000</valUSD>
        <pctVal>0.532296314403</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>TSURUHA HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>TSURUHA HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3536150000"/>
        </identifiers>
        <balance>192000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>23501148.86000000</valUSD>
        <pctVal>0.908853737473</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>SBANKEN ASA</name>
        <lei>5967007LIEEXZXB8WO76</lei>
        <title>SBANKEN ASA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NO0010739402"/>
        </identifiers>
        <balance>736574.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.19795000"/>
        <valUSD>5613624.49000000</valUSD>
        <pctVal>0.217094220750</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>PRECISION TSUGAMI CHINA CORP LTD</name>
        <lei>N/A</lei>
        <title>PRECISION TSUGAMI CHINA CORP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG7215M1006"/>
        </identifiers>
        <balance>12258000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>11768491.24000000</valUSD>
        <pctVal>0.455119760809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RHI MAGNESITA NV</name>
        <lei>724500UWG6A61XNA3Y36</lei>
        <title>RHI MAGNESITA NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0012650360"/>
        </identifiers>
        <balance>568499.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>23977451.43000000</valUSD>
        <pctVal>0.927273661261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN MEAT CO LTD</name>
        <lei>N/A</lei>
        <title>JAPAN MEAT CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3389690003"/>
        </identifiers>
        <balance>715200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14761633.87000000</valUSD>
        <pctVal>0.570872777066</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>VAN LANSCHOT KEMPEN NV</name>
        <lei>724500ZM85SCL0RS8L71</lei>
        <title>VAN LANSCHOT KEMPEN NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000302636"/>
        </identifiers>
        <balance>184017.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>3910250.48000000</valUSD>
        <pctVal>0.151220086489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMPRO PRECISION INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>IMPRO PRECISION INDUSTRIES LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4723A1085"/>
        </identifiers>
        <balance>18231300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>6795114.85000000</valUSD>
        <pctVal>0.262785686128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRIPOD TECHNOLOGY CORP</name>
        <lei>N/A</lei>
        <title>TRIPOD TECHNOLOGY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003044004"/>
        </identifiers>
        <balance>3273000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.37600000"/>
        <valUSD>11943554.77000000</valUSD>
        <pctVal>0.461889946576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XINGDA INTL HLDGS LTD</name>
        <lei>213800SJEZ2WD4VQFS05</lei>
        <title>XINGDA INTL HLDGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9827V1068"/>
        </identifiers>
        <balance>59588591.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>16137064.52000000</valUSD>
        <pctVal>0.624064444177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADDTECH AB</name>
        <lei>549300QZ5U2IDRHPWL60</lei>
        <title>ADDTECH AB CL B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0005568136"/>
        </identifiers>
        <balance>199019.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.62690000"/>
        <valUSD>6108935.85000000</valUSD>
        <pctVal>0.236249266465</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>ALLIANCE PHARMA PLC</name>
        <lei>213800RYIWZA4Q5WPZ13</lei>
        <title>ALLIANCE PHARMA PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0031030819"/>
        </identifiers>
        <balance>17354810.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>19914896.01000000</valUSD>
        <pctVal>0.770163525958</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>CREDITO REAL S A DE C V SOCIEDAD FINANCIERA DE OBJETO MULTIPLE ENTIDAD NO REGULADA</name>
        <lei>549300W2IL7TPPCTKL39</lei>
        <title>CREDITO REAL SAB DE CV SOFOM ER</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX00CR000000"/>
        </identifiers>
        <balance>6947800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.89550000"/>
        <valUSD>8677625.89000000</valUSD>
        <pctVal>0.335587539550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KIRINDO HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>KIRINDO HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3257900005"/>
        </identifiers>
        <balance>647909.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>10113727.13000000</valUSD>
        <pctVal>0.391125504401</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>NATIONAL STORAGE REIT</name>
        <lei>N/A</lei>
        <title>NATIONAL STORAGE REIT STAPLED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000NSR2"/>
        </identifiers>
        <balance>10193443.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>14611318.43000000</valUSD>
        <pctVal>0.565059667662</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>MINCON GROUP PLC</name>
        <lei>635400LCBSV68KQHN886</lei>
        <title>MINCON GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00BD64C665"/>
        </identifiers>
        <balance>10010744.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>11102415.67000000</valUSD>
        <pctVal>0.429360795796</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>ISUZU MOTORS LTD</name>
        <lei>529900C0QSXVCC7AR494</lei>
        <title>ISUZU MOTORS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3137200006"/>
        </identifiers>
        <balance>2038300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>19970156.84000000</valUSD>
        <pctVal>0.772300613476</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>SPIN MASTER CORP</name>
        <lei>N/A</lei>
        <title>SPIN MASTER CORP</title>
        <cusip>848510103</cusip>
        <identifiers>
          <isin value="CA8485101031"/>
        </identifiers>
        <balance>467000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>11172147.50000000</valUSD>
        <pctVal>0.432057516484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERTRUST NV</name>
        <lei>724500NRH17KKW68GO66</lei>
        <title>INTERTRUST NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0010937058"/>
        </identifiers>
        <balance>902000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>16065831.43000000</valUSD>
        <pctVal>0.621309665657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALTAREA</name>
        <lei>969500ICGCY1PD6OT783</lei>
        <title>ALTAREA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000033219"/>
        </identifiers>
        <balance>78324.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>17981103.12000000</valUSD>
        <pctVal>0.695378463064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINO LAND LTD</name>
        <lei>529900G5P51053HJVZ92</lei>
        <title>SINO LAND CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0083000502"/>
        </identifiers>
        <balance>9685003.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>13199083.72000000</valUSD>
        <pctVal>0.510444686837</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>MONEYSUPERMARKET.COM GROUP PLC</name>
        <lei>54930016B7VO33FBE722</lei>
        <title>MONEYSUPERMARKET.COM GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B1ZBKY84"/>
        </identifiers>
        <balance>3489193.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>14997345.23000000</valUSD>
        <pctVal>0.579988380383</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>VOLUTION GROUP PLC</name>
        <lei>213800EPT84EQCDHO768</lei>
        <title>VOLUTION GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BN3ZZ526"/>
        </identifiers>
        <balance>5952601.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>19022191.17000000</valUSD>
        <pctVal>0.735640186902</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>SPECTRIS PLC</name>
        <lei>213800Z4CO2CZO3M3T10</lei>
        <title>SPECTRIS PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0003308607"/>
        </identifiers>
        <balance>385201.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>13459088.50000000</valUSD>
        <pctVal>0.520499783184</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>MAISONS DU MONDE SA</name>
        <lei>9695009DV2698O4ZBU71</lei>
        <title>MAISONS DU MONDE SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013153541"/>
        </identifiers>
        <balance>1113307.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>14816557.58000000</valUSD>
        <pctVal>0.572996827231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KING'S TOWN BANK</name>
        <lei>549300WWWDUONZNJTT60</lei>
        <title>KINGS TOWN BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002809001"/>
        </identifiers>
        <balance>10796000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.37600000"/>
        <valUSD>12151384.71000000</valUSD>
        <pctVal>0.469927299084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GMO INTERNET INC</name>
        <lei>529900BFZEY3BESHBW90</lei>
        <title>GMO INTERNET INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3152750000"/>
        </identifiers>
        <balance>781800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14986877.68000000</valUSD>
        <pctVal>0.579583571580</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>SAN-AI OIL CO LTD</name>
        <lei>N/A</lei>
        <title>SAN-AI OIL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3323600001"/>
        </identifiers>
        <balance>1521000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>15182814.01000000</valUSD>
        <pctVal>0.587160965643</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>REXEL SA</name>
        <lei>969500N6AVPA51648T62</lei>
        <title>REXEL SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0010451203"/>
        </identifiers>
        <balance>1065100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>12775209.65000000</valUSD>
        <pctVal>0.494052316615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EBOS GROUP LTD</name>
        <lei>N/A</lei>
        <title>EBOS GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NZEBOE0001S6"/>
        </identifiers>
        <balance>1338296.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.54702970"/>
        <valUSD>20542049.35000000</valUSD>
        <pctVal>0.794417261825</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>MEDIA NUSANTARA CITRA TBK PT</name>
        <lei>254900Y0ZF75CIA04X94</lei>
        <title>MEDIA NUSANTARA CITRA TBK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000106206"/>
        </identifiers>
        <balance>77429400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13655.00000000"/>
        <valUSD>8964696.00000000</valUSD>
        <pctVal>0.346689326273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TISCO FINANCIAL GROUP PCL</name>
        <lei>529900OOUQI3OWX2WU06</lei>
        <title>TISCO FINANCIAL GROUP PCL(FOR)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0999010Z11"/>
        </identifiers>
        <balance>2296600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="31.16000000"/>
        <valUSD>7558687.71000000</valUSD>
        <pctVal>0.292315138147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMVIG HOLDINGS LIMITED</name>
        <lei>875500RWR0FZ6SAD6P72</lei>
        <title>AMVIG HOLDINGS LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG0420V1068"/>
        </identifiers>
        <balance>34660000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>8237512.59000000</valUSD>
        <pctVal>0.318567153865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HAITIAN INTL HOLDINGS LTD</name>
        <lei>30030093DDRS825TVP62</lei>
        <title>HAITIAN INTL HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4232C1087"/>
        </identifiers>
        <balance>6721000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>14530845.66000000</valUSD>
        <pctVal>0.561947565432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOND INTL SOFTWARE PLC</name>
        <lei>N/A</lei>
        <title>BOND INTL SOFTWARE PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0002369352"/>
        </identifiers>
        <balance>899666.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>11.88000000</valUSD>
        <pctVal>0.000000459432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GUD HLDGS LTD</name>
        <lei>N/A</lei>
        <title>GUD HLDGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000GUD2"/>
        </identifiers>
        <balance>1947476.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>15487669.19000000</valUSD>
        <pctVal>0.598950549692</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>ORIGIN ENTERPRISES PLC</name>
        <lei>213800AIB4U7N5BLS350</lei>
        <title>ORIGIN ENTERPRISES PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00B1WV4493"/>
        </identifiers>
        <balance>920300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>3807057.02000000</valUSD>
        <pctVal>0.147229313001</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>WHITECAP RESOURCES INC</name>
        <lei>5493004AMPGZA0JO5Q37</lei>
        <title>WHITECAP RESOURCES INC</title>
        <cusip>96467A200</cusip>
        <identifiers>
          <isin value="CA96467A2002"/>
        </identifiers>
        <balance>2982553.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>10862857.38000000</valUSD>
        <pctVal>0.420096421169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAH SING BANKING GROUP LIMITED</name>
        <lei>529900DXBMKJOLLQOM66</lei>
        <title>DAH SING BANKING GROUP LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK2356013600"/>
        </identifiers>
        <balance>10935600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>13926051.04000000</valUSD>
        <pctVal>0.538558502452</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>NORTH WEST CO INC</name>
        <lei>N/A</lei>
        <title>NORTH WEST COMPANY INC</title>
        <cusip>663278208</cusip>
        <identifiers>
          <isin value="CA6632782083"/>
        </identifiers>
        <balance>871600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>18151198.43000000</valUSD>
        <pctVal>0.701956514169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOUSTEAD SINGAPORE LTD</name>
        <lei>254900VRXISFIBDS7X84</lei>
        <title>BOUSTEAD SINGAPORE LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1X13940751"/>
        </identifiers>
        <balance>12196612.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.36460000"/>
        <valUSD>6704472.07000000</valUSD>
        <pctVal>0.259280281781</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>CENTRAL AUTOMOTIVE PROD LTD</name>
        <lei>353800X9460YZVHWB065</lei>
        <title>CENTRAL AUTOMOTIVE PRODS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3515400004"/>
        </identifiers>
        <balance>349700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>8493237.84000000</valUSD>
        <pctVal>0.328456749077</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>AHLSTROM-MUNKSJO OYJ</name>
        <lei>213800F2MJ5Z2TAQ1726</lei>
        <title>AHLSTROM-MUNKSJO OYJ</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FI4000048418"/>
        </identifiers>
        <balance>924698.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>15444576.98000000</valUSD>
        <pctVal>0.597284056009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</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 LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000HSN3"/>
        </identifiers>
        <balance>5161560.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>12610285.53000000</valUSD>
        <pctVal>0.487674249579</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>ISHARES TRUST</name>
        <lei>549300G3FWQPUM47D181</lei>
        <title>iShares MSCI EAFE Small-Cap ETF</title>
        <cusip>464288273</cusip>
        <identifiers>
          <isin value="US4642882736"/>
        </identifiers>
        <balance>665800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39888078.00000000</valUSD>
        <pctVal>1.542581130263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIRAIT HOLDINGS CORPORATION</name>
        <lei>353800RI3EZVEIDAEL62</lei>
        <title>MIRAIT HOLDINGS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3910620008"/>
        </identifiers>
        <balance>994200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14847453.57000000</valUSD>
        <pctVal>0.574191659712</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>PARAMOUNT BED HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>PARAMOUNT BED HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3781620004"/>
        </identifiers>
        <balance>397800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>16467430.52000000</valUSD>
        <pctVal>0.636840601446</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>INGHAMS GROUP LTD</name>
        <lei>529900ZZ4VRHSGVBNE41</lei>
        <title>INGHAMS GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000ING6"/>
        </identifiers>
        <balance>8534219.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>20054588.47000000</valUSD>
        <pctVal>0.775565815656</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="4582811.38"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MCCOLL'S RETAIL GROUP PLC</name>
        <lei>213800R1TLR536P8YJ67</lei>
        <title>MCCOLLS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BJ3VW957"/>
        </identifiers>
        <balance>9602129.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>5800922.16000000</valUSD>
        <pctVal>0.224337534191</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>AEON DELIGHT CO LTD</name>
        <lei>N/A</lei>
        <title>AEON DELIGHT CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3389700000"/>
        </identifiers>
        <balance>633400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>21733187.90000000</valUSD>
        <pctVal>0.840481849113</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>AUB GROUP LTD</name>
        <lei>N/A</lei>
        <title>AUB GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000AUB9"/>
        </identifiers>
        <balance>1127632.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>9655510.81000000</valUSD>
        <pctVal>0.373405025395</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>OTSUKA CORPORATION</name>
        <lei>529900RG9DJ58J3UIE72</lei>
        <title>OTSUKA CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3188200004"/>
        </identifiers>
        <balance>280900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>10953656.96000000</valUSD>
        <pctVal>0.423607889401</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>TONGCHENG-ELONG HOLDINGS LTD</name>
        <lei>2549004WGGNOPL8NUL61</lei>
        <title>TONGCHENG-ELONG HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8918W1069"/>
        </identifiers>
        <balance>3254800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>4553918.61000000</valUSD>
        <pctVal>0.176112494478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOJAMO OYJ</name>
        <lei>7437007YPUOQZ8OV1R42</lei>
        <title>KOJAMO OYJ</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FI4000312251"/>
        </identifiers>
        <balance>848700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>15605937.23000000</valUSD>
        <pctVal>0.603524298440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENOMMA LAB INTERNACIONAL SA</name>
        <lei>N/A</lei>
        <title>GENOMMA LAB INTERNACIONAL SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX01LA010006"/>
        </identifiers>
        <balance>13846500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.89550000"/>
        <valUSD>16399919.03000000</valUSD>
        <pctVal>0.634229747382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEXERIALS CORP</name>
        <lei>N/A</lei>
        <title>DEXERIALS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3548770001"/>
        </identifiers>
        <balance>1651500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14048599.57000000</valUSD>
        <pctVal>0.543297789462</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>FIDELITY REVERE STREET TRUST</name>
        <lei>549300BDV45LJNXBZC55</lei>
        <title>Fidelity Cash Central Fund</title>
        <cusip>31635A105</cusip>
        <identifiers>
          <isin value="US31635A1051"/>
        </identifiers>
        <balance>104865704.65400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>104886677.79000000</valUSD>
        <pctVal>4.056254853264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RENESAS ELECTRONICS CORP</name>
        <lei>5299000EPC47VJQOFB81</lei>
        <title>RENESAS ELECTRONICS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3164720009"/>
        </identifiers>
        <balance>3245900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>20421000.27000000</valUSD>
        <pctVal>0.789735962650</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>STAR PETROLEUM REFINING PCL</name>
        <lei>N/A</lei>
        <title>STAR PETROLEUM REFINING PCL(FOR)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH6838010010"/>
        </identifiers>
        <balance>84521700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="31.16000000"/>
        <valUSD>22860531.17000000</valUSD>
        <pctVal>0.884079298346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKKT AG</name>
        <lei>549300AZ0JTVTW3IZY37</lei>
        <title>TAKKT AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0007446007"/>
        </identifiers>
        <balance>1132400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>14894834.33000000</valUSD>
        <pctVal>0.576024003359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRANGES AB</name>
        <lei>5493006UG44TYSIXOB13</lei>
        <title>GRANGES AB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0006288015"/>
        </identifiers>
        <balance>1349921.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.62690000"/>
        <valUSD>12493945.21000000</valUSD>
        <pctVal>0.483175051038</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>EMBASSY OFFICE PARKS REIT</name>
        <lei>N/A</lei>
        <title>EMBASSY OFFICE PARKS REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE041025011"/>
        </identifiers>
        <balance>1985800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.55500000"/>
        <valUSD>11507573.36000000</valUSD>
        <pctVal>0.445029352385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RICOH LEASING CO LTD</name>
        <lei>N/A</lei>
        <title>RICOH LEASING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3974100004"/>
        </identifiers>
        <balance>323900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>12100410.94000000</valUSD>
        <pctVal>0.467956003908</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>DWS GROUP GMBH and CO KGAA</name>
        <lei>529900VM3464806ERS69</lei>
        <title>DWS GROUP GMBH and CO KGAA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000DWS1007"/>
        </identifiers>
        <balance>279337.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>11118675.37000000</valUSD>
        <pctVal>0.429989602890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORINAGA and CO LTD</name>
        <lei>N/A</lei>
        <title>MORINAGA and CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3926400007"/>
        </identifiers>
        <balance>346200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>16618970.42000000</valUSD>
        <pctVal>0.642701064069</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>ELEMENTIS PLC</name>
        <lei>549300LQIH685LI2ML36</lei>
        <title>ELEMENTIS PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0002418548"/>
        </identifiers>
        <balance>7141346.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>12061158.44000000</valUSD>
        <pctVal>0.466438002318</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>ARC LAND SAKAMOTO CO LTD</name>
        <lei>N/A</lei>
        <title>ARC LAND SAKAMOTO CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3100100001"/>
        </identifiers>
        <balance>1362200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14978217.43000000</valUSD>
        <pctVal>0.579248656014</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>ROBINSONS LAND CORP</name>
        <lei>N/A</lei>
        <title>ROBINSONS LAND CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="PHY731961264"/>
        </identifiers>
        <balance>30688600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="51.03000000"/>
        <valUSD>15289865.35000000</valUSD>
        <pctVal>0.591300933907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SITC INTERNATIONAL HOLDINGS COMPANY LIMITED</name>
        <lei>529900JUV4MOM9CE3V12</lei>
        <title>SITC INTL HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8187G1055"/>
        </identifiers>
        <balance>21015000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>24754485.61000000</valUSD>
        <pctVal>0.957323699361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA RESOURCE GAS GROUP LTD</name>
        <lei>529900A0E1J5JSOKEK83</lei>
        <title>CHINA RESOURCES GAS GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG2113B1081"/>
        </identifiers>
        <balance>1916000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>10098392.64000000</valUSD>
        <pctVal>0.390532477710</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>CINEWORLD GROUP PLC</name>
        <lei>213800J2J3TOOI176M73</lei>
        <title>CINEWORLD GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B15FWH70"/>
        </identifiers>
        <balance>8778880.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>20553521.96000000</valUSD>
        <pctVal>0.794860939049</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="16889748.64"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMMOFINANZ AG</name>
        <lei>5299000DUMZ99SBBX121</lei>
        <title>IMMOFINANZ AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AT0000A21KS2"/>
        </identifiers>
        <balance>624674.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>17354507.28000000</valUSD>
        <pctVal>0.671146287247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAPLETREE INDUSTRIAL REIT</name>
        <lei>549300R7WZFHXNKDJF41</lei>
        <title>MAPLETREE INDUSTRIAL REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG2C32962814"/>
        </identifiers>
        <balance>9980216.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.36460000"/>
        <valUSD>20285362.85000000</valUSD>
        <pctVal>0.784490492446</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>HYUNDAI FIRE and MARINE INS CO LTD</name>
        <lei>988400SYR92543UITC37</lei>
        <title>HYUNDAI FIRE and MARINE INS CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7001450006"/>
        </identifiers>
        <balance>939746.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00500000"/>
        <valUSD>17179702.49000000</valUSD>
        <pctVal>0.664386107663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIR NEW ZEALAND LTD</name>
        <lei>2549005EEIR2FNT5R792</lei>
        <title>AIR NEW ZEALAND LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NZAIRE0001S2"/>
        </identifiers>
        <balance>6504671.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.54702970"/>
        <valUSD>11814514.36000000</valUSD>
        <pctVal>0.456899600802</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>CHINA METAL RECYCLING (HOLDINGS) LIMITED</name>
        <lei>N/A</lei>
        <title>CHINA METAL RECYCL (HLDGS) LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG211311009"/>
        </identifiers>
        <balance>436800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>0.56000000</valUSD>
        <pctVal>0.000000021656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LUXFER HLDGS PLC</name>
        <lei>21380045UF5SJYZOXE41</lei>
        <title>LUXFER HOLDINGS PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BNK03D49"/>
        </identifiers>
        <balance>1078459.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17201421.05000000</valUSD>
        <pctVal>0.665226023812</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>FAR EAST HORIZON LTD</name>
        <lei>549300S9XRGO1ZPUHE62</lei>
        <title>FAR EAST HORIZON LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000077468"/>
        </identifiers>
        <balance>11051000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>9763717.76000000</valUSD>
        <pctVal>0.377589684260</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>WOOD (JOHN) GROUP PLC</name>
        <lei>549300PLYY6I10B6S323</lei>
        <title>JOHN WOOD GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B5N0P849"/>
        </identifiers>
        <balance>7042900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>34996462.18000000</valUSD>
        <pctVal>1.353408960563</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>TOPPS TILES PLC</name>
        <lei>2138009NA4K1NTLN7Q97</lei>
        <title>TOPPS TILES PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B18P5K83"/>
        </identifiers>
        <balance>7676237.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>7906447.30000000</valUSD>
        <pctVal>0.305763953139</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>BANCA GENERALI SPA</name>
        <lei>815600903231FA2E7698</lei>
        <title>BANCA GENERALI SPA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IT0001031084"/>
        </identifiers>
        <balance>324200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>10326391.20000000</valUSD>
        <pctVal>0.399349805945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMSTERDAM COMMODITIES NV</name>
        <lei>7245001M40ANG7IIS437</lei>
        <title>AMSTERDAM COMMODITIES NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000313286"/>
        </identifiers>
        <balance>750696.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>17233979.61000000</valUSD>
        <pctVal>0.666485152424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOMNOMED LTD</name>
        <lei>529900NFR8QFOLJGP577</lei>
        <title>SOMNOMED LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000SOM1"/>
        </identifiers>
        <balance>3458165.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>7431631.19000000</valUSD>
        <pctVal>0.287401514827</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="55702.34"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPORTON INTERNATIONAL INC</name>
        <lei>N/A</lei>
        <title>SPORTON INTERNATIONAL INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006146004"/>
        </identifiers>
        <balance>1579740.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.37600000"/>
        <valUSD>10300558.16000000</valUSD>
        <pctVal>0.398350771596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHIP HEALTHCARE HOLDINGS INC</name>
        <lei>353800BIFUE1L527TH13</lei>
        <title>SHIP HEALTHCARE HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3274150006"/>
        </identifiers>
        <balance>343100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>15383457.42000000</valUSD>
        <pctVal>0.594920395369</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>JYSKE BANK</name>
        <lei>3M5E1GQGKL17HI6CPN30</lei>
        <title>JYSKE BANK AS (REG)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0010307958"/>
        </identifiers>
        <balance>338403.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.73790000"/>
        <valUSD>12897474.05000000</valUSD>
        <pctVal>0.498780615541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WENDEL</name>
        <lei>969500M98ZMIZYJD5O34</lei>
        <title>WENDEL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000121204"/>
        </identifiers>
        <balance>94335.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>12617441.19000000</valUSD>
        <pctVal>0.487950978533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MYTILINEOS SA</name>
        <lei>213800KT8MEUJEJ2KW41</lei>
        <title>MYTILINEOS SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS393503008"/>
        </identifiers>
        <balance>1944116.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>20008810.83000000</valUSD>
        <pctVal>0.773795469046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEIFU HIGH-TECHNOLOGY CO LTD</name>
        <lei>N/A</lei>
        <title>WEIFU HIGH-TECHNOLOGY CO B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000J36"/>
        </identifiers>
        <balance>6620202.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>10988481.44000000</valUSD>
        <pctVal>0.424954647340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PALTAC CORPORATION</name>
        <lei>N/A</lei>
        <title>PALTAC CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3782200004"/>
        </identifiers>
        <balance>328700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>15380690.90000000</valUSD>
        <pctVal>0.594813406470</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>SERVCORP LIMITED</name>
        <lei>N/A</lei>
        <title>SERVCORP LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000SRV5"/>
        </identifiers>
        <balance>4998615.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>14597376.80000000</valUSD>
        <pctVal>0.564520506679</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>PICO FAR EAST HOLDINGS LTD</name>
        <lei>254900NL3DXVIEY4HJ17</lei>
        <title>PICO FAR EAST HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG7082H1276"/>
        </identifiers>
        <balance>32288800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>8734516.35000000</valUSD>
        <pctVal>0.337787649319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECONOCOM GROUP SA</name>
        <lei>5493006G5O9JP185PU76</lei>
        <title>ECONOCOM GROUP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE0974313455"/>
        </identifiers>
        <balance>5298505.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>15102108.96000000</valUSD>
        <pctVal>0.584039880509</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>UNITED MICROELECTRONICS CORP</name>
        <lei>391200YJCAGH9LF96P73</lei>
        <title>UNITED MICROELECTRONICS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002303005"/>
        </identifiers>
        <balance>14337000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.37600000"/>
        <valUSD>6960198.42000000</valUSD>
        <pctVal>0.269169919532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITANI CORP (SHOJI)</name>
        <lei>N/A</lei>
        <title>MITANI CORP (MITANI SHOJI)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3886800006"/>
        </identifiers>
        <balance>306800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>17100014.44000000</valUSD>
        <pctVal>0.661304352703</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>NOF CORP</name>
        <lei>N/A</lei>
        <title>NOF CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3753400005"/>
        </identifiers>
        <balance>35500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>1155604.13000000</valUSD>
        <pctVal>0.044690374025</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>ULTRA ELECTRONICS HLDGS PLC</name>
        <lei>213800E68EATZGAJIP64</lei>
        <title>ULTRA ELECTRONICS HLDGS PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0009123323"/>
        </identifiers>
        <balance>609581.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>18175809.52000000</valUSD>
        <pctVal>0.702908292367</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>LUMAX INTERNATIONAL CORP LTD</name>
        <lei>N/A</lei>
        <title>LUMAX INTERNATIONAL CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006192008"/>
        </identifiers>
        <balance>4719600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.37600000"/>
        <valUSD>11711375.70000000</valUSD>
        <pctVal>0.452910946580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NISHIMOTO CO LTD</name>
        <lei>N/A</lei>
        <title>NISHIMOTO CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3659350007"/>
        </identifiers>
        <balance>480700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>16080939.87000000</valUSD>
        <pctVal>0.621893950376</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>PT ACE HARDWARE INDONESIA TBK</name>
        <lei>529900WER46RYFNZER60</lei>
        <title>ACE HARDWARE INDONESIA TBK PT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000125503"/>
        </identifiers>
        <balance>61050100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13655.00000000"/>
        <valUSD>7680502.08000000</valUSD>
        <pctVal>0.297026033181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHINSEI BANK LTD</name>
        <lei>549300PZYOQ2NW83V760</lei>
        <title>SHINSEI BANK LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3729000004"/>
        </identifiers>
        <balance>1385700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>21216745.47000000</valUSD>
        <pctVal>0.820509607096</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>INABA DENKISANGYO CO</name>
        <lei>N/A</lei>
        <title>INABA DENKISANGYO CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3146200005"/>
        </identifiers>
        <balance>595600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14902005.95000000</valUSD>
        <pctVal>0.576301349529</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>PACT GROUP HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>PACT GROUP HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000PGH3"/>
        </identifiers>
        <balance>3348128.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49387511"/>
        <valUSD>6134973.23000000</valUSD>
        <pctVal>0.237256203201</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>UBS AG LONDN BRANCH</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>ANHUI HELI CO LTD A (UBS) (ELN) 01/22/2022</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0520499721"/>
        </identifiers>
        <balance>1330504.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1817766.18000000</valUSD>
        <pctVal>0.070297992510</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>GRUMA SAB DE CV</name>
        <lei>5493000XJLJ6C4T0PG82</lei>
        <title>GRUMA SAB CL B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MXP4948K1056"/>
        </identifiers>
        <balance>1365200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.89550000"/>
        <valUSD>14507801.33000000</valUSD>
        <pctVal>0.561056378130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IRISH RESIDENTIAL PROPERTIES REIT PLC</name>
        <lei>635400EOPACLULRENY18</lei>
        <title>IRISH RESIDENTIAL PROPERTIES REIT PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00BJ34P519"/>
        </identifiers>
        <balance>10599300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>19490044.83000000</valUSD>
        <pctVal>0.753733368219</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>BEST PACIFIC INTERNATIONAL HOLDINGS LIMITED</name>
        <lei>529900NJSWRANNDZ2L52</lei>
        <title>BEST PACIFIC INTERNATIONAL HOLDINGS LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG106891008"/>
        </identifiers>
        <balance>17964000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>4888847.34000000</valUSD>
        <pctVal>0.189065105002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NS SHOPPING CO LTD</name>
        <lei>N/A</lei>
        <title>NS SHOPPING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7138250006"/>
        </identifiers>
        <balance>755079.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00500000"/>
        <valUSD>5508754.18000000</valUSD>
        <pctVal>0.213038598884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEARS GROUP PLC</name>
        <lei>213800DHCALLH8IRJV57</lei>
        <title>MEARS GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0005630420"/>
        </identifiers>
        <balance>4822740.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>19423705.81000000</valUSD>
        <pctVal>0.751167856779</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>DIC ASSET AG</name>
        <lei>52990044JL2ZPWONU738</lei>
        <title>DIC ASSET AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000A1X3XX4"/>
        </identifiers>
        <balance>941300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167260"/>
        <valUSD>17642734.18000000</valUSD>
        <pctVal>0.682292810205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LASSONDE INDUSTRIES INC</name>
        <lei>549300U3Y8OW3GQ0VE25</lei>
        <title>LASSONDE INDS INC CL A SUB VTG</title>
        <cusip>517907101</cusip>
        <identifiers>
          <isin value="CA5179071017"/>
        </identifiers>
        <balance>162149.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>17220826.62000000</valUSD>
        <pctVal>0.665976490307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIWA INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>DAIWA INDUSTRIES LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3505800007"/>
        </identifiers>
        <balance>1370600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>14443659.72000000</valUSD>
        <pctVal>0.558575846547</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>RICHELIEU HARDWARE LTD</name>
        <lei>5493007VPNETW465DN04</lei>
        <title>RICHELIEU HARDWARE LTD</title>
        <cusip>76329W103</cusip>
        <identifiers>
          <isin value="CA76329W1032"/>
        </identifiers>
        <balance>654400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>14443874.87000000</valUSD>
        <pctVal>0.558584166987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2026203.72"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENESIS LAND DEVELOPMENT CORP</name>
        <lei>N/A</lei>
        <title>GENESIS LAND DEVELOPMENT CORP</title>
        <cusip>37183V102</cusip>
        <identifiers>
          <isin value="CA37183V1022"/>
        </identifiers>
        <balance>2758922.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>4523848.22000000</valUSD>
        <pctVal>0.174949590209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIPLOMA PLC</name>
        <lei>2138008OGI7VYG8FGR19</lei>
        <title>DIPLOMA PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0001826634"/>
        </identifiers>
        <balance>373451.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>9606406.99000000</valUSD>
        <pctVal>0.371506046302</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>ALTUS SAN NICOLAS CORP</name>
        <lei>N/A</lei>
        <title>ALTUS SAN NICOLAS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1737514D"/>
        </identifiers>
        <balance>433681.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="51.03000000"/>
        <valUSD>44033.96000000</valUSD>
        <pctVal>0.001702913732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYVE GROUP PLC</name>
        <lei>549300ZOQOW485BCD047</lei>
        <title>HYVE GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0002520509"/>
        </identifiers>
        <balance>20320730.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75728891"/>
        <valUSD>26377353.91000000</valUSD>
        <pctVal>1.020084457512</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>BANCA TRANSILVANIA SA</name>
        <lei>549300RG3H390KEL8896</lei>
        <title>BANCA TRANSILVANIA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ROTLVAACNOR1"/>
        </identifiers>
        <balance>24750736.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="RON" exchangeRt="4.30760000"/>
        <valUSD>14852969.77000000</valUSD>
        <pctVal>0.574404986261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOTAL ENERGY SVCS INC</name>
        <lei>549300R3W0R3EV800D58</lei>
        <title>TOTAL ENERGY SERVICES INC</title>
        <cusip>89154B102</cusip>
        <identifiers>
          <isin value="CA89154B1022"/>
        </identifiers>
        <balance>615900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>2513117.73000000</valUSD>
        <pctVal>0.097189139783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-03-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Stacie M. Smith</ncom:nameOfApplicant>
      <ncom:signature>Stacie M. Smith</ncom:signature>
      <ncom:signerName>Stacie M. Smith</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
