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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY N C CHAPEL HILL REV</name>
        <lei>N/A</lei>
        <title>UNIVERSITY N C CHAPEL HILL REV</title>
        <cusip>91471FBD6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="653425"/>
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        <balance>4265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5061488.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTH CAROLINA MED CARE COMM HOSP REV</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA MED CARE COMM HOSP REV</title>
        <cusip>65820HD67</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="463558"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10098500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY N C WILMINGTON COPS</name>
        <lei>N/A</lei>
        <title>UNIVERSITY N C WILMINGTON COPS</title>
        <cusip>91472TAS3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="602416"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3544620.00000000</valUSD>
        <pctVal>0.404464722578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY N C CHARLOTTE REV</name>
        <lei>N/A</lei>
        <title>UNIVERSITY N C CHARLOTTE REV</title>
        <cusip>914716XB6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="514553"/>
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        <balance>12995000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14122966.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Capital Facilities Finance Agency</name>
        <lei>549300PWNPSB7G58A235</lei>
        <title>North Carolina Capital Facilities Finance Agency</title>
        <cusip>65818PNA3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="914330"/>
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        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23040000.00000000</valUSD>
        <pctVal>2.629017273559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WINSTON-SALEM N C WTR &amp; SWR SYS REV</name>
        <lei>N/A</lei>
        <title>WINSTON-SALEM N C WTR &amp; SWR SYS REV</title>
        <cusip>975700ML6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="629716"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5775450.00000000</valUSD>
        <pctVal>0.659017266170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DARE CNTY N C UTIL SYS REV</name>
        <lei>N/A</lei>
        <title>DARE CNTY N C UTIL SYS REV</title>
        <cusip>237200DK3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="486992"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5193950.00000000</valUSD>
        <pctVal>0.592664247743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Charlotte-Mecklenburg Hospital Authority/The</name>
        <lei>549300XOH4JU704GMZ32</lei>
        <title>Charlotte-Mecklenburg Hospital Authority/The</title>
        <cusip>160853UF2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="941848"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6394350.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WAKE CNTY NC</name>
        <lei>5493007XQJHO082P1H29</lei>
        <title>WAKE CNTY NC</title>
        <cusip>930864AM5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="685288"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10466960.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPE FEAR PUB UTIL AUTH NC WTR &amp; SWR SYS REV</name>
        <lei>N/A</lei>
        <title>CAPE FEAR PUB UTIL AUTH NC WTR &amp; SWR SYS REV</title>
        <cusip>139391CZ7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="590937"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2644605.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Wake NC</name>
        <lei>5493007XQJHO082P1H29</lei>
        <title>County of Wake NC</title>
        <cusip>930876ET0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="991123"/>
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        <balance>5250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6335962.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CARY NC COMB ENTERPRISE SYS REV</name>
        <lei>N/A</lei>
        <title>CARY NC COMB ENTERPRISE SYS REV</title>
        <cusip>147056DL6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="539878"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11158000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Greensboro NC</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="933683"/>
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        <balance>5000000.00000000</balance>
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        <valUSD>6672350.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CHARLOTTE N C ARPT REV</name>
        <lei>N/A</lei>
        <title>CHARLOTTE N C ARPT REV</title>
        <cusip>161036GN2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="501225"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3038820.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NORTH CAROLINA MED CARE REX HLTH SYS</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA MED CARE REX HLTH SYS</title>
        <cusip>65821DFJ5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="479324"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5058550.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Charlotte NC Airport Special Facilities Revenue</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="1035576"/>
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        <balance>4460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5721198.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH CAROLINA CAP FACS FIN AGY REV</name>
        <lei>549300PWNPSB7G58A235</lei>
        <title>NORTH CAROLINA CAP FACS FIN AGY REV</title>
        <cusip>65819GKK3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="592406"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3749970.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>RALEIGH DURHAM NC AIRPORT REV</name>
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      <invstOrSec>
        <name>CHARLOTTE NC STORM WTR FEE REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>North Carolina Housing Finance Agency</name>
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        <name>CHARLOTTE-MECKLENBURG HOSP AUTH N C HEALTH CARE</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>County of Durham NC</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="964199"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS DV&amp;DP</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Medical Care Commission</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NORTH CAROLINA CAP FACS FIN AGY EDL FACS REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORTH CAROLINA MED CARE NOVANT HOSP</name>
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        <name>County of Union NC Enterprise System Revenue</name>
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        <name>NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE</name>
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        <name>University of North Carolina at Charlotte/The</name>
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        <name>UNION CNTY NC ENTERPRISE SYS REV</name>
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        <name>NORTH CAROLINA ST</name>
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        <name>NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE</name>
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        <name>RALEIGH N C COMB ENTERPRISE SYS REV</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>University of North Carolina at Charlotte/The</name>
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          <other otherDesc="Internal Identifier" value="1038313"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>NORTH CAROLINA CAP FACS FIN AGY REV</name>
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          <other otherDesc="Internal Identifier" value="652010"/>
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        <name>UNIVERSITY N C CHARLOTTE REV</name>
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          <other otherDesc="Internal Identifier" value="514555"/>
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        <name>City of Fayetteville NC Public Works Commission Revenue</name>
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          <other otherDesc="Internal Identifier" value="947012"/>
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        <name>RALEIGH DURHAM NC AIRPORT REV</name>
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        <name>NASH HEALTH CARE SYSTEMS HEALTH CARE FAC</name>
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          <other otherDesc="Internal Identifier" value="517251"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Charlotte NC Water &amp; Sewer System Revenue</name>
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        <name>North Carolina Capital Facilities Finance Agency</name>
        <lei>549300PWNPSB7G58A235</lei>
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          <other otherDesc="Internal Identifier" value="914329"/>
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        <name>GUILFORD CNTY N C</name>
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        <name>UNIVERSITY N C GREENSBORO REV</name>
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        <name>RALEIGH DURHAM NC AIRPORT REV</name>
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        <name>RALEIGH DURHAM NC AIRPORT REV</name>
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        <name>NORTH CAROLINA CAP FACS FIN AGY EDL FACS REV</name>
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        <name>County of Union NC Enterprise System Revenue</name>
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        <name>NORTH CAROLINA ST MED CARE COMMISSION RETMNT FAC</name>
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        <name>Town of Cary NC Combined Utility Systems Revenue</name>
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        <name>WINSTON-SALEM N C WTR &amp; SWR SYS REV</name>
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        <name>North Carolina Turnpike Authority</name>
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        <name>NORTH CAROLINA CAP FACS FIN AGY REV</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>NORTH CAROLINA MED CARE COMMN HOSP REV</name>
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        <name>CARY NC COMB ENTERPRISE SYS REV</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>UNIV OF NORTH CAROLINA NC AT CHARLOTTE</name>
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          <maturityDt>2043-04-01</maturityDt>
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        <name>City of Charlotte NC Airport Special Facilities Revenue</name>
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          <maturityDt>2044-07-01</maturityDt>
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        <name>Greenville Utilities Commission</name>
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          <other otherDesc="Internal Identifier" value="986309"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NORTH CAROLINA ST</name>
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        <name>UNIVERSITY N C CHARLOTTE REV</name>
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          <maturityDt>2043-04-01</maturityDt>
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        <name>MECKLENBURG CNTY N C</name>
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        <name>NORTH CAROLINA TPK AUTH TRIANGLE EXPWY SYS</name>
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        <name>NORTH CAROLINA ST CAP IMPT LTD OBLIG</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>UNIVERSITY N C CHARLOTTE REV</name>
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        <name>Puerto Rico Electric Power Authority **DEFAULT**</name>
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        <name>University of North Carolina at Charlotte/The</name>
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        <name>NEW HANOVER CNTY NC HOSP REVENUE</name>
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        <name>MECKLENBURG CNTY N C</name>
        <lei>5493006G3IC5PBHB7A65</lei>
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      <invstOrSec>
        <name>NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NORTH CAROLINA MED CARE COMMN HLTH CARE FACS REV</name>
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        <cusip>65821DMB4</cusip>
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          <other otherDesc="Internal Identifier" value="524693"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NORTH CAROLINA MED CARE COMMN HOSP REV DV&amp;DP</name>
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        <cusip>65820HTM5</cusip>
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          <other otherDesc="Internal Identifier" value="575525"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
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      <invstOrSec>
        <name>NORTH CAROLINA ST UNIV AT RALEIGH</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="542647"/>
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        <curCd>USD</curCd>
        <valUSD>10117047.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNIVERSITY N C CHARLOTTE REV</name>
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          <other otherDesc="Internal Identifier" value="674609"/>
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        <curCd>USD</curCd>
        <valUSD>12427400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARLOTTE N C ARPT REV</name>
        <lei>N/A</lei>
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        <cusip>161036GM4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="461186"/>
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        <balance>3765000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3821738.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RALEIGH NC</name>
        <lei>549300I7RPBIIRI16112</lei>
        <title>RALEIGH NC</title>
        <cusip>751091SM2</cusip>
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          <other otherDesc="Internal Identifier" value="654282"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6335200.00000000</valUSD>
        <pctVal>0.722888464906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RALEIGH N C COMB ENTERPRISE SYS REV</name>
        <lei>N/A</lei>
        <title>RALEIGH N C COMB ENTERPRISE SYS REV</title>
        <cusip>751100JU3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="548862"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11259300.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARLOTTE-MECKLENBURG HOSP AUTH NC HEALTH CARE DV&amp;DP</name>
        <lei>549300XOH4JU704GMZ32</lei>
        <title>CHARLOTTE-MECKLENBURG HOSP AUTH NC HEALTH CARE DV&amp;DP</title>
        <cusip>160853MS3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="669986"/>
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        <balance>2325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2325000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.19000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WILMINGTON N C STORM WTR FEE REV</name>
        <lei>N/A</lei>
        <title>WILMINGTON N C STORM WTR FEE REV</title>
        <cusip>971724CR8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="608013"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225708.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cape Fear Public Utility Authority</name>
        <lei>N/A</lei>
        <title>Cape Fear Public Utility Authority</title>
        <cusip>139391EX0</cusip>
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          <other otherDesc="Internal Identifier" value="1017550"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9505760.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE</title>
        <cusip>65821DVK4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency</title>
        <cusip>658207YP4</cusip>
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          <other otherDesc="Internal Identifier" value="1030231"/>
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        <balance>2750000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <name>UNIVERSITY N C SYS POOL REV</name>
        <lei>5493004DU2QADMVXVR58</lei>
        <title>UNIVERSITY N C SYS POOL REV</title>
        <cusip>9147208R1</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARLOTTE-MECKLENBURG HOSP AUTH N C HEALTH CARE</name>
        <lei>549300XOH4JU704GMZ32</lei>
        <title>CHARLOTTE-MECKLENBURG HOSP AUTH N C HEALTH CARE</title>
        <cusip>160853SX6</cusip>
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          <other otherDesc="Internal Identifier" value="648249"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23633400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DURHAM N C UTIL SYS REV</name>
        <lei>N/A</lei>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4211680.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Turnpike Authority</name>
        <lei>549300FCT1PN0GJGQ240</lei>
        <title>North Carolina Turnpike Authority</title>
        <cusip>65830VAD2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="973329"/>
        </identifiers>
        <balance>9875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11667312.50000000</valUSD>
        <pctVal>1.331317973025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency</title>
        <cusip>65821FHQ2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1003409"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1040670.00000000</valUSD>
        <pctVal>0.118747370055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Charlotte NC Airport Special Facilities Revenue</name>
        <lei>N/A</lei>
        <title>City of Charlotte NC Airport Special Facilities Revenue</title>
        <cusip>161036QX9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="988112"/>
        </identifiers>
        <balance>5515000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6473176.10000000</valUSD>
        <pctVal>0.738632455802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTH CAROLINA ST TURNPIKE AUTH MONROE CONNECTOR</name>
        <lei>549300FCT1PN0GJGQ240</lei>
        <title>NORTH CAROLINA ST TURNPIKE AUTH MONROE CONNECTOR</title>
        <cusip>65830UAC6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="658803"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2930025.00000000</valUSD>
        <pctVal>0.334335344486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTH CAROLINA CAP FACS FIN AGY REV</name>
        <lei>549300PWNPSB7G58A235</lei>
        <title>NORTH CAROLINA CAP FACS FIN AGY REV</title>
        <cusip>65819GLA4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="648692"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12375400.00000000</valUSD>
        <pctVal>1.412115467326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65821DWG2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="965155"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1272250.00000000</valUSD>
        <pctVal>0.145172188640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTH CAROLINA ST MED CARE COMMISSION RETMNT FAC</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA ST MED CARE COMMISSION RETMNT FAC</title>
        <cusip>65820YPB6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="679174"/>
        </identifiers>
        <balance>2540000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2865424.80000000</valUSD>
        <pctVal>0.326964031913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Raleigh Durham Airport Authority</name>
        <lei>N/A</lei>
        <title>Raleigh Durham Airport Authority</title>
        <cusip>751073ME4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1040463"/>
        </identifiers>
        <balance>1280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1706227.20000000</valUSD>
        <pctVal>0.194691874193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTH CAROLINA ST MED CARE COMMISSION RETMNT FAC</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA ST MED CARE COMMISSION RETMNT FAC</title>
        <cusip>65820YNY8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="679175"/>
        </identifiers>
        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1365156.00000000</valUSD>
        <pctVal>0.155773381297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Raleigh Durham Airport Authority WV&amp;WP</name>
        <lei>N/A</lei>
        <title>Raleigh Durham Airport Authority WV&amp;WP</title>
        <cusip>751073GK7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1014126"/>
        </identifiers>
        <balance>2985000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2985000.00000000</valUSD>
        <pctVal>0.340608357707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
