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      <invstOrSec>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Natwest Markets PLC</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        </derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eurex Deutschland</name>
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        <assetCat>DIR</assetCat>
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            <payOffProf>Long</payOffProf>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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        <assetCat>DFE</assetCat>
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        <invCountry>CL</invCountry>
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      <invstOrSec>
        <name>New York Mercantile Exchange</name>
        <lei>5493008GFNDTXFPHWI47</lei>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <assetCat>DFE</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED BRL / SOLD USD</title>
        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <name>ICE Futures Europe</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Singapore Exchange Derivatives Clearing Limited</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Natwest Markets PLC</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>ICE Futures Europe</name>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>New York Mercantile Exchange</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Natwest Markets PLC</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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        <name>United States Treasury</name>
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        <name>Nasdaq Nordic</name>
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        <name>New York Mercantile Exchange</name>
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        <name>Nyse Euronext - Euronext Paris</name>
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        <name>HSBC Bank plc</name>
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      </invstOrSec>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>Chicago Board Of Trade</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>New York Mercantile Exchange</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Natwest Markets PLC</name>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Natwest Markets PLC</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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      <invstOrSec>
        <name>Natwest Markets PLC</name>
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      <invstOrSec>
        <name>SWAP CCPC RBS COC SWAP CCPC CASH COLLATERAL</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <name>Commodities Exchange Center</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
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        <name>New York Mercantile Exchange</name>
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      </invstOrSec>
      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
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      <invstOrSec>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
        <name>FORWARDS DEUTSCHE BANK COC OPTIONS CASH COLLATERALD</name>
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        <cusip>000000000</cusip>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <assetCat>DFE</assetCat>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <securityLending>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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          <other otherDesc="Internal Identifier" value="ADI1522W9"/>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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        <assetCat>DFE</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>PURCHASED PHP / SOLD USD</title>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED CLP / SOLD USD</title>
        <cusip>000000000</cusip>
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        <currencyConditional curCd="CLP" exchangeRt="729.15000000"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Eurex Deutschland</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>Chicago Board Of Trade</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <cusip>000000000</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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            <amtCurSold>200000.00000000</amtCurSold>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <title>PURCHASED USD / SOLD KRW</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="19IQKBCB9PH"/>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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        <assetCat>DFE</assetCat>
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            <payOffProf>Long</payOffProf>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD CLP</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="19GVKBCF0H9"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <title>PURCHASED BRL / SOLD USD</title>
        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <title>PURCHASED USD / SOLD CLP</title>
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          <other otherDesc="Trade Identifier" value="19HQKBB7JRC"/>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED BRL / SOLD USD</title>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>PURCHASED INR / SOLD USD</title>
        <cusip>000000000</cusip>
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        <assetCat>DFE</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      </invstOrSec>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>New York Mercantile Exchange</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>Eurex Deutschland</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>Deutsche Bank Aktiengesellschaft</name>
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        <fairValLevel>2</fairValLevel>
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        </derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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        </derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="19HJKBB87Z1"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED BRL / SOLD USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="19IOKBCCGHP"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank plc</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED BRL / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>
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        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Hong Kong Futures Exchange Ltd.</name>
        <lei>213800YTVSXYQN17BW16</lei>
        <title>HSCEI FUTURES     OCT19 XHKF 20191030</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1FHJL1"/>
        </identifiers>
        <balance>-169.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83770000"/>
        <valUSD>-11007629.79000000</valUSD>
        <pctVal>-1.00584858212</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Hong Kong Futures Exchange Ltd.</counterpartyName>
              <counterpartyLei>213800YTVSXYQN17BW16</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Hang Seng China Enterprises Index</indexName>
                <indexIdentifier>HCV9 Index</indexIdentifier>
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            <expDate>2019-10-30</expDate>
            <notionalAmt>-86283559.04000000</notionalAmt>
            <curCd>HKD</curCd>
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        </derivativeInfo>
        <securityLending>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HMKBCCP2N"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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              <counterpartyName>HSBC Bank plc</counterpartyName>
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            <curPur>USD</curPur>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>PURCHASED INR / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IPKBB99KM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="INR" exchangeRt="70.97270000"/>
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        <pctVal>0.000045032609</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Deutsche Bank Aktiengesellschaft</counterpartyName>
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            <amtCurSold>668778.60000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>47500000.00000000</amtCurPur>
            <curPur>INR</curPur>
            <settlementDt>2019-10-17</settlementDt>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HOKBB8P17"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank plc</counterpartyName>
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            <amtCurSold>100000.00000000</amtCurSold>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HTKBB86C1"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED CLP / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="CLP" exchangeRt="728.29767857"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <amtCurSold>2181562.28000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>ICE Futures Europe</name>
        <lei>549300UF4R84F48NCH34</lei>
        <title>BRENT CRUDE FUTR  DEC19 IFEU 20191031</title>
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        <identifiers>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>10131750.00000000</valUSD>
        <pctVal>0.925812964854</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Futures Europe</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Brent Crude Oil</indexName>
                <indexIdentifier>COZ9 Comdty</indexIdentifier>
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            <expDate>2019-10-31</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>-936608.91000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <cusip>000000000</cusip>
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        <derivativeInfo>
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      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
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        <currencyConditional curCd="INR" exchangeRt="70.97270000"/>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      <invstOrSec>
        <name>HSBC Bank plc</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Natwest Markets PLC</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>PURCHASED USD / SOLD PEN</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HFKBCCFM0"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="PEN" exchangeRt="3.38143387"/>
        <valUSD>-20397.38000000</valUSD>
        <pctVal>-0.00186385953</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Natwest Markets PLC</counterpartyName>
              <counterpartyLei>RR3QWICWWIPCS8A4S074</counterpartyLei>
            </counterparties>
            <amtCurSold>8750000.00000000</amtCurSold>
            <curSold>PEN</curSold>
            <amtCurPur>2567262.27000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-12-20</settlementDt>
            <unrealizedAppr>-20397.38000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HFKBCCFMQ"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>2462.97000000</valUSD>
        <pctVal>0.000225059793</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>200000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>50598.33000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>2462.97000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IOKBCCGH8"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.16455000"/>
        <valUSD>-1724.16000000</valUSD>
        <pctVal>-0.00015754925</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>1300000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>310434.42000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-04</settlementDt>
            <unrealizedAppr>-1724.16000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IQKBCB9PR"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.16455000"/>
        <valUSD>-1625.41000000</valUSD>
        <pctVal>-0.00014852573</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>900000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>214484.37000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-04</settlementDt>
            <unrealizedAppr>-1625.41000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>PURCHASED PHP / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IPKBB99KG"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="PHP" exchangeRt="51.86561538"/>
        <valUSD>61279.90000000</valUSD>
        <pctVal>0.005599597888</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Deutsche Bank Aktiengesellschaft</counterpartyName>
              <counterpartyLei>7LTWFZYICNSX8D621K86</counterpartyLei>
            </counterparties>
            <amtCurSold>7217145.26000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>377500000.00000000</amtCurPur>
            <curPur>PHP</curPur>
            <settlementDt>2019-10-25</settlementDt>
            <unrealizedAppr>61279.90000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD CLP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IQKBCB9QG"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CLP" exchangeRt="728.19129032"/>
        <valUSD>1050.05000000</valUSD>
        <pctVal>0.000095950838</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>300000000.00000000</amtCurSold>
            <curSold>CLP</curSold>
            <amtCurPur>413029.71000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-12-06</settlementDt>
            <unrealizedAppr>1050.05000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IAKBCVQQH"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>-417.06000000</valUSD>
        <pctVal>-0.00003810985</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>500000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>119921.33000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>-417.06000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>PURCHASED INR / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IDKBB973N"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="INR" exchangeRt="70.87594285"/>
        <valUSD>17572.50000000</valUSD>
        <pctVal>0.001605729348</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Deutsche Bank Aktiengesellschaft</counterpartyName>
              <counterpartyLei>7LTWFZYICNSX8D621K86</counterpartyLei>
            </counterparties>
            <amtCurSold>1181706.08000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>85000000.00000000</amtCurPur>
            <curPur>INR</curPur>
            <settlementDt>2019-10-04</settlementDt>
            <unrealizedAppr>17572.50000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HIKBB80T2"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>866.74000000</valUSD>
        <pctVal>0.000079200447</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>100000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>24934.42000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>866.74000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD COP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HAKBCD1ZB"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="COP" exchangeRt="3486.67000000"/>
        <valUSD>112413.74000000</valUSD>
        <pctVal>0.010272075201</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>9600000000.00000000</amtCurSold>
            <curSold>COP</curSold>
            <amtCurPur>2865757.19000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-14</settlementDt>
            <unrealizedAppr>112413.74000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HFKBCCFMS"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>3659.72000000</valUSD>
        <pctVal>0.000334415695</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>300000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>75862.75000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>3659.72000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HJKBB87Z2"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>796.37000000</valUSD>
        <pctVal>0.000072770219</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>100000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>24864.05000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>796.37000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19INKBCD8LH"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.16455000"/>
        <valUSD>-410.61000000</valUSD>
        <pctVal>-0.00003752047</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>400000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>95638.18000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-04</settlementDt>
            <unrealizedAppr>-410.61000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HNKBB8ZBH"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>1162.30000000</valUSD>
        <pctVal>0.000106207951</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>200000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>49297.66000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>1162.30000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>7323.66000000</valUSD>
        <pctVal>0.000669217003</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>800000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>199865.09000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>7323.66000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD CLP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19GRKBB887Z"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CLP" exchangeRt="729.15000000"/>
        <valUSD>225954.82000000</valUSD>
        <pctVal>0.020647163799</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>3250000000.00000000</amtCurSold>
            <curSold>CLP</curSold>
            <amtCurPur>4683199.56000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>225954.82000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IMKBB8TSM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.16455000"/>
        <valUSD>4987.35000000</valUSD>
        <pctVal>0.000455731072</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>5700000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>1373682.65000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-04</settlementDt>
            <unrealizedAppr>4987.35000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HTKBB86C0"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>-386.48000000</valUSD>
        <pctVal>-0.00003531553</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>600000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>144019.59000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>-386.48000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19IOKBCCGH7"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.16455000"/>
        <valUSD>-1978.29000000</valUSD>
        <pctVal>-0.00018077099</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>1500000.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>358204.68000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-04</settlementDt>
            <unrealizedAppr>-1978.29000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD CLP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HTKBB86DP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CLP" exchangeRt="728.19129032"/>
        <valUSD>7208.18000000</valUSD>
        <pctVal>0.000658664741</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>950000000.00000000</amtCurSold>
            <curSold>CLP</curSold>
            <amtCurPur>1311810.44000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-12-06</settlementDt>
            <unrealizedAppr>7208.18000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HQKBB7JQ2"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>4575.00000000</valUSD>
        <pctVal>0.000418051601</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>1372728.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>334958.76000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>4575.00000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Aktiengesellschaft</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>PURCHASED INR / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19INKBCD8JM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="INR" exchangeRt="70.97270000"/>
        <valUSD>759.22000000</valUSD>
        <pctVal>0.000069375549</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Deutsche Bank Aktiengesellschaft</counterpartyName>
              <counterpartyLei>7LTWFZYICNSX8D621K86</counterpartyLei>
            </counterparties>
            <amtCurSold>140140.03000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>10000000.00000000</amtCurPur>
            <curPur>INR</curPur>
            <settlementDt>2019-10-17</settlementDt>
            <unrealizedAppr>759.22000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>PURCHASED USD / SOLD BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="19HDKBCDV7V"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15495000"/>
        <valUSD>50448.02000000</valUSD>
        <pctVal>0.004609808864</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank plc</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>5276470.00000000</amtCurSold>
            <curSold>BRL</curSold>
            <amtCurPur>1320371.85000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>50448.02000000</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>2019-10-15</ncom:dateSigned>
      <ncom:nameOfApplicant>AMERICAN BEACON FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Sonia Bates</ncom:signature>
      <ncom:signerName>Sonia Bates</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
