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      </invstOrSec>
      <invstOrSec>
        <name>BRITISH COLUMBIA PROV OF</name>
        <lei>54930058TO7MEKUHWL16</lei>
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        <cusip>110709GK2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AUSTRALIAN GOVERNMENT</name>
        <lei>213800J6B7JSBDETCB42</lei>
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          <isin value="AU000XCLWAW9"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-11-21</maturityDt>
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      <invstOrSec>
        <name>PROVINCE OF ALBERTA</name>
        <lei>LQPXMHHNJKIPJYE53543</lei>
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          <isin value="CA013051DT15"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>BlackRock Liquidity FedFund</name>
        <lei>549300T8K043VZEOVK74</lei>
        <title>BlackRock Liquidity FedFund</title>
        <cusip>09248U700</cusip>
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          <isin value="US09248U7000"/>
          <ticker value="TFDXX"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BUONI POLIENNALI DEL TES</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>000000000</cusip>
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          <isin value="IT0005365165"/>
          <other otherDesc="SEDOL" value="BJ7Q2D0"/>
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        <balance>820000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>BUNDESREPUB. DEUTSCHLAND</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesrepublik Deutschland Bundesanleihe</title>
        <cusip>000000000</cusip>
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          <isin value="DE0001102374"/>
          <other otherDesc="SEDOL" value="BVDZM91"/>
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        <balance>320000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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      <invstOrSec>
        <name>NETHERLANDS GOVERNMENT</name>
        <lei>254900G14ALGVKORFN62</lei>
        <title>Netherlands Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="NL0010721999"/>
          <other otherDesc="SEDOL" value="BJZ2W85"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>BUONI POLIENNALI DEL TES</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005367492"/>
          <other otherDesc="SEDOL" value="BJ5K5P7"/>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>CANADIAN GOVERNMENT</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canadian Government Bond</title>
        <cusip>135087B45</cusip>
        <identifiers>
          <isin value="CA135087B451"/>
          <other otherDesc="SEDOL" value="BBTRTM3"/>
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        <balance>535000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>DEVELOPMENT BK OF JAPAN</name>
        <lei>5493001HGBABMWFZUI25</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP372155CHA7"/>
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        <balance>100000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-13</maturityDt>
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          <annualizedRt>0.23500000</annualizedRt>
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      <invstOrSec>
        <name>ISRAEL ELECTRIC CORP LTD</name>
        <lei>254900JW7GE35YNJGJ55</lei>
        <title>Israel Electric Corp Ltd</title>
        <cusip>465077AK1</cusip>
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          <isin value="IL0060001943"/>
          <other otherDesc="SEDOL" value="BSKPFS3"/>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>355523.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>JAPAN (30 YEAR ISSUE)</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bond</title>
        <cusip>000000000</cusip>
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          <isin value="JP1300641KA3"/>
          <other otherDesc="SEDOL" value="BKV2769"/>
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        <balance>195900000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="105.46500000"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.40000000</annualizedRt>
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        <name>DEUTSCHLAND I/L BOND</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Deutsche Bundesrepublik Inflation Linked Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0001030559"/>
          <other otherDesc="SEDOL" value="BLM7VX5"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BONOS Y OBLIG DEL ESTADO</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="ES00000128P8"/>
          <other otherDesc="SEDOL" value="BDFFX89"/>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>1.50000000</annualizedRt>
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        <name>UK TSY 0 5/8% 2025</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>000000000</cusip>
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          <other otherDesc="SEDOL" value="BK5CVX0"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.62500000</annualizedRt>
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        <name>BUONI POLIENNALI DEL TES</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>000000000</cusip>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>BONOS Y OBLIG DEL ESTADO</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bond</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BELGIUM KINGDOM</name>
        <lei>549300SZ25JZFHRHWD76</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-22</maturityDt>
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      <invstOrSec>
        <name>KFW</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>Kreditanstalt fuer Wiederaufbau</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A2GSKL9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-15</maturityDt>
          <couponKind>None</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>MEX BONOS DESARR FIX RT</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Bonos</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX0MGO000151"/>
          <other otherDesc="SEDOL" value="BJSDWC9"/>
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        <balance>7500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JAPAN FIN ORG MUNICIPAL</name>
        <lei>5493007YYYNZ4NMEOD64</lei>
        <title>JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES</title>
        <cusip>000000000</cusip>
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          <isin value="JP351265BH54"/>
          <other otherDesc="SEDOL" value="BF3CWY5"/>
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        <balance>190000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.20500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FINNISH GOVERNMENT</name>
        <lei>743700M6Y2OQRVSBRD14</lei>
        <title>Finland Government Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000242870"/>
          <other otherDesc="SEDOL" value="BDGJ131"/>
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        <balance>75000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EUROPEAN INVESTMENT BANK</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1878833695"/>
          <other otherDesc="SEDOL" value="BFY0798"/>
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        <balance>1125000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FRANCE (GOVT OF)</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic Government Bond OAT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013154044"/>
          <other otherDesc="SEDOL" value="BD0SJG3"/>
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        <balance>1900000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>USD/NZD FORWARD</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="4MVK5KACEVKFT0MJ-29"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>10035.14000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>THE TORONTO-DOMINION BANK</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>UK TSY 0 7/8% 2029</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BJMHB534"/>
          <other otherDesc="SEDOL" value="BJMHB53"/>
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        <balance>1135000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.77498353"/>
        <valUSD>1556227.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEX BONOS DESARR FIX RT</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Bonos</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX0MGO0000H9"/>
          <other otherDesc="SEDOL" value="B4XH544"/>
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        <balance>7500000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>TOKYO METROPOLITAN GOVERNMENT</name>
        <lei>353800FABE4GGB1BMO18</lei>
        <title>TOKYO METROPOLITAN GOVERNMENT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP2130001F93"/>
          <other otherDesc="SEDOL" value="BYNV3W0"/>
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        <balance>140000000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.47500000</annualizedRt>
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      <invstOrSec>
        <name>BUNDESREPUB. DEUTSCHLAND</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesrepublik Deutschland Bundesanleihe</title>
        <cusip>000000000</cusip>
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          <isin value="DE0001102473"/>
          <other otherDesc="SEDOL" value="BK0P9M9"/>
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        <balance>155000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>NEW ZEALAND GOVERNMENT</name>
        <lei>549300237GPHG2AI7C34</lei>
        <title>New Zealand Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="NZGOVDT429C7"/>
          <other otherDesc="SEDOL" value="BFLVPR8"/>
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        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>IRISH TSY 1.35% 2031</name>
        <lei>549300KXBEJAOJ9OVF93</lei>
        <title>Ireland Government Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BFZRQ242"/>
          <other otherDesc="SEDOL" value="BFZRQ24"/>
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        <balance>100000.00000000</balance>
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        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OSAKA EXCHANGE,INC</name>
        <lei>3538001249AILNPRUX57</lei>
        <title>JAPAN 10 YEAR BOND</title>
        <cusip>000000000</cusip>
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          <ticker value="JBZ0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00SG7TWG6"/>
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        <currencyConditional curCd="JPY" exchangeRt="105.46500000"/>
        <valUSD>7946.66000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>OSAKA EXCHANGE,INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>Japan Government Ten Year Bond</issuerName>
                <issueTitle>Japan Government Ten Year Bond</issueTitle>
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                  <cusip value="000000000"/>
                  <isin value="JP1103491HC4"/>
                  <other otherDesc="SEDOL" value="BF13422"/>
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            <expDate>2020-12-14</expDate>
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            <unrealizedAppr>7946.66000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
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        <name>BONOS Y OBLIG DEL ESTADO</name>
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      <invstOrSec>
        <name>EUROPEAN INVESTMENT BANK</name>
        <lei>5493006YXS1U5GIHE750</lei>
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        <name>BELGIUM KINGDOM</name>
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        <title>Kingdom of Belgium Government Bond</title>
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        <fairValLevel>2</fairValLevel>
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        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO-BOBL</title>
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          <ticker value="OEZ0"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UK TSY 1.75% 2049</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BFWFPP71"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-22</maturityDt>
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          <annualizedRt>1.75000000</annualizedRt>
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        <name>MONTREAL EXCHANGE</name>
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          <ticker value="CNZ0"/>
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                <issuerName>CANADA-GOV'T WI</issuerName>
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        <name>Goldman Sachs Financial Square Government Fund</name>
        <lei>N/A</lei>
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          <isin value="US38141W2733"/>
          <ticker value="FGTXX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>JAPAN FINANCE CORP</name>
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        <name>OBRIGACOES DO TESOURO</name>
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        <title>Portugal Obrigacoes do Tesouro OT</title>
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        <name>THE TORONTO-DOMINION BANK</name>
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        <title>Republic of Poland Government Bond</title>
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        <name>THE TORONTO-DOMINION BANK</name>
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        <name>US TREASURY FRN</name>
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        <title>United States Treasury Floating Rate Note</title>
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          <annualizedRt>0.21402528</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>BUNDESREPUB. DEUTSCHLAND</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesrepublik Deutschland Bundesanleihe</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0001102481"/>
          <other otherDesc="SEDOL" value="BKSV3W7"/>
        </identifiers>
        <balance>420000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85291483"/>
        <valUSD>506667.09000000</valUSD>
        <pctVal>1.458753595034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>KINGDOM OF DENMARK</name>
        <lei>549300PTO6LS1PTM6607</lei>
        <title>Denmark Government Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0009923567"/>
          <other otherDesc="SEDOL" value="BDG6ZK7"/>
        </identifiers>
        <balance>1475000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="6.34990000"/>
        <valUSD>249247.80000000</valUSD>
        <pctVal>0.717613461542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</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>Fidelity Government Portfolio</name>
        <lei>N/A</lei>
        <title>Fidelity Government Portfolio</title>
        <cusip>316175108</cusip>
        <identifiers>
          <isin value="US3161751082"/>
          <ticker value="FIGXX"/>
        </identifiers>
        <balance>22844.28000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22844.28000000</valUSD>
        <pctVal>0.065771344209</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>MEX BONOS DESARR FIX RT</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Bonos</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX0MGO000102"/>
          <other otherDesc="SEDOL" value="BDH3PR4"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MXN" exchangeRt="22.11150000"/>
        <valUSD>300120.75000000</valUSD>
        <pctVal>0.864082612918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>JPMorgan Chase Bank, National Association</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>USD/JPY FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="TN39M7A3LRQ1GC6G-29"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5370.05000000</valUSD>
        <pctVal>0.015460999732</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JPMorgan Chase Bank, National Association</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <amtCurSold>-3715718.84000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>391783167.00000000</amtCurPur>
            <curPur>JPY</curPur>
            <settlementDt>2021-01-15</settlementDt>
            <unrealizedAppr>5370.05000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Institutional Liquidity Funds - Government Portfolio</name>
        <lei>549300BI6Y5SI6BYPB26</lei>
        <title>Morgan Stanley Institutional Liquidity Funds - Government Portfolio</title>
        <cusip>61747C707</cusip>
        <identifiers>
          <isin value="US61747C7074"/>
          <ticker value="MVRXX"/>
        </identifiers>
        <balance>22844.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22844.25000000</valUSD>
        <pctVal>0.065771257835</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>NEW ZEALAND GOVERNMENT</name>
        <lei>549300237GPHG2AI7C34</lei>
        <title>New Zealand Government Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZGOVD0521C2"/>
          <other otherDesc="SEDOL" value="B503GR2"/>
        </identifiers>
        <balance>1450000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NZD" exchangeRt="1.51160154"/>
        <valUSD>993784.29000000</valUSD>
        <pctVal>2.861220778571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>PROVINCE OF QUEBEC</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>Province of Quebec Canada</title>
        <cusip>74814ZFF5</cusip>
        <identifiers>
          <isin value="CA74814ZFF59"/>
          <other otherDesc="SEDOL" value="BJXY4L0"/>
        </identifiers>
        <balance>1110000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.33155000"/>
        <valUSD>915217.53000000</valUSD>
        <pctVal>2.635017920990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</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>REPUBLIC OF AUSTRIA</name>
        <lei>529900QWWUI4XRVR7I03</lei>
        <title>Republic of Austria Government Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000A1K9F1"/>
          <other otherDesc="SEDOL" value="BYN4DM9"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85291483"/>
        <valUSD>422769.09000000</valUSD>
        <pctVal>1.217201476233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</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>THE TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>CAD/USD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="Q7LJNGG0G4JE0TR2-29"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>21477.60000000</valUSD>
        <pctVal>0.061836513227</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>THE TORONTO-DOMINION BANK</counterpartyName>
              <counterpartyLei>PT3QB789TSUIDF371261</counterpartyLei>
            </counterparties>
            <amtCurSold>-2953500.00000000</amtCurSold>
            <curSold>CAD</curSold>
            <amtCurPur>2240750.79000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2021-01-15</settlementDt>
            <unrealizedAppr>21477.60000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <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>2020-11-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Delaware Group Equity Funds IV</ncom:nameOfApplicant>
      <ncom:signature>Dan Geatans</ncom:signature>
      <ncom:signerName>Dan Geatans</ncom:signerName>
      <ncom:title>Head of US and EMEA Fund Administration</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
