<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000825063</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000007863</seriesId>
        <classId>C000021389</classId>
        <classId>C000021388</classId>
        <classId>C000128730</classId>
        <classId>C000021386</classId>
        <classId>C000078832</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Franklin Mutual Series Funds</regName>
      <regFileNumber>811-05387</regFileNumber>
      <regCik>0000825063</regCik>
      <regLei>549300DW3N5FG4OTT022</regLei>
      <regStreet1>101 John F. Kennedy Parkway</regStreet1>
      <regCity>Short Hills</regCity>
      <regStateConditional regCountry="US" regState="US-NJ"/>
      <regZipOrPostalCode>07078-2791</regZipOrPostalCode>
      <regPhone>973-912-2000</regPhone>
      <seriesName>Franklin Mutual Quest Fund</seriesName>
      <seriesId>S000007863</seriesId>
      <seriesLei>NWF7KZ3BJ6U1TY06BL48</seriesLei>
      <repPdEnd>2019-12-31</repPdEnd>
      <repPdDate>2019-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>4787978977.11</totAssets>
      <totLiabs>482690930.38</totLiabs>
      <netAssets>4305288046.73</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>14260441.46</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>3558185.42</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000021389" rtn1="-0.24016480" rtn2="1.64751080" rtn3="2.45620420"/>
          <monthlyTotReturn classId="C000128730" rtn1="-0.24034150" rtn2="1.64876280" rtn3="2.45353030"/>
          <monthlyTotReturn classId="C000021388" rtn1="-0.39538000" rtn2="1.62966530" rtn3="2.38145200"/>
          <monthlyTotReturn classId="C000021386" rtn1="-0.31705780" rtn2="1.67766300" rtn3="2.44880080"/>
          <monthlyTotReturn classId="C000078832" rtn1="-0.32291220" rtn2="1.63446560" rtn3="2.42981270"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <commodityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
          </commodityContracts>
          <creditContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
          </creditContracts>
          <equityContracts>
            <mon1 netRealizedGain="-250378.99000000" netUnrealizedAppr="-590718.04000000"/>
            <mon2 netRealizedGain="-261416.47000000" netUnrealizedAppr="-1692225.89000000"/>
            <mon3 netRealizedGain="-612429.47000000" netUnrealizedAppr="1355587.94000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="-250378.99000000" netUnrealizedAppr="-590718.04000000"/>
              <instrMon2 netRealizedGain="-261416.47000000" netUnrealizedAppr="-1692225.89000000"/>
              <instrMon3 netRealizedGain="-612429.47000000" netUnrealizedAppr="1355587.94000000"/>
            </optionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
          </equityContracts>
          <foreignExchgContracts>
            <mon1 netRealizedGain="-2546131.86000000" netUnrealizedAppr="-22387494.12000000"/>
            <mon2 netRealizedGain="616001.75000000" netUnrealizedAppr="3312672.83000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="-6893996.72000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="-2546131.86000000" netUnrealizedAppr="-17984100.37000000"/>
              <instrMon2 netRealizedGain="616001.75000000" netUnrealizedAppr="2358647.83000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="-8432643.79000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="-4403393.75000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="954025.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="1538647.07000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
          </foreignExchgContracts>
          <interestRtContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
          </interestRtContracts>
          <otherContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="4224617.24000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="4224617.24000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="-14638532.56000000" netUnrealizedAppr="-17044212.68119709"/>
        <othMon2 netRealizedGain="-10920516.24000000" netUnrealizedAppr="45816144.24506717"/>
        <othMon3 netRealizedGain="16539451.33000000" netUnrealizedAppr="117347198.28011681"/>
      </returnInfo>
      <mon1Flow redemption="84823821.99000000" reinvestment="4822105.51000000" sales="31913948.28000000"/>
      <mon2Flow redemption="84401986.02000000" reinvestment="-7.69000000" sales="23915733.37000000"/>
      <mon3Flow redemption="120794020.12000000" reinvestment="133363161.88000000" sales="29549965.24000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>TIFFANY &amp; CO STRIKE 100 EXPIRES 02/21/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="TIF 2 P100"/>
          <other otherDesc="Internal Identifier" value="1024509"/>
        </identifiers>
        <balance>500.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIESPLC</counterpartyName>
              <counterpartyLei>K6Q0W1PS1L1O4IQL9C32</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TIFFANY &amp; CO STRIKE 100 EXPIRES 02/21/20 PUTS</issuerName>
                <issueTitle>TIFFANY &amp; CO STRIKE 100 EXPIRES 02/21/20 PUTS</issueTitle>
                <identifiers>
                  <cusip value="886547108"/>
                  <isin value="US8865471085"/>
                  <ticker value="TIF 2 P100"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>100</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-02-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-96019.4</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>INTELSAT SA STRIKE 10 EXPIRES 01/17/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="I 1 P10"/>
          <other otherDesc="Internal Identifier" value="1022146"/>
        </identifiers>
        <balance>-5000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1450000.00000000</valUSD>
        <pctVal>-0.03367951189</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>UBS AG LONDON</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>INTELSAT SA STRIKE 10 EXPIRES 01/17/20 PUTS</issuerName>
                <issueTitle>INTELSAT SA STRIKE 10 EXPIRES 01/17/20 PUTS</issueTitle>
                <identifiers>
                  <cusip value="L5140P101"/>
                  <isin value="LU0914713705"/>
                  <ticker value="I 1 P10"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>500.00000000</shareNo>
            <exercisePrice>10</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-202182.62</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TREASURY BILL 03/12/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY BILL 03/12/2020 TBLM</title>
        <cusip>912796TK5</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1007319"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24927204.75000000</valUSD>
        <pctVal>0.578990406203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRU Kids Parent LLC COM USD 1</name>
        <lei>N/A</lei>
        <title>TRU Kids Parent LLC COM USD 1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="959314"/>
        </identifiers>
        <balance>7103.78100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26506829.43000000</valUSD>
        <pctVal>0.615680742897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Veritas US Inc 6.5% 01/27/2023 Term Loan B1</name>
        <lei>549300RFUWCPWS8FQ104</lei>
        <title>Veritas US Inc 6.5% 01/27/2023 Term Loan B1</title>
        <cusip>G9341JAG5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="918035"/>
        </identifiers>
        <balance>22925050.01000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22160889.32000000</valUSD>
        <pctVal>0.514736507278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12667522582240"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2381148.41000000</valUSD>
        <pctVal>0.055307528419</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>2381148.41000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2133225.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-13459.54</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHECK POINT SOFTWARE TECHNOLOGIES LTD ORD ILS.01</name>
        <lei>2549003ZVBH73EPNS513</lei>
        <title>CHECK POINT SOFTWARE TECHNOLOGIES LTD ORD ILS.01</title>
        <cusip>M22465104</cusip>
        <identifiers>
          <ticker value="CHKP"/>
          <other otherDesc="Internal Identifier" value="39926"/>
        </identifiers>
        <balance>517511.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57423020.56000000</valUSD>
        <pctVal>1.333778830515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Windstream Services LLC 6.5% 04/24/2020 Revolving Commitment</name>
        <lei>549300L3SXBFJVGRCF66</lei>
        <title>Windstream Services LLC 6.5% 04/24/2020 Revolving Commitment</title>
        <cusip>97381HAD9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="972712"/>
        </identifiers>
        <balance>74847867.46000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70169875.74000000</valUSD>
        <pctVal>1.629853217214</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-04-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>CONAGRA BRANDS INC COM USD5</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CONAGRA BRANDS INC COM USD5</title>
        <cusip>205887102</cusip>
        <identifiers>
          <ticker value="CAG"/>
          <other otherDesc="Internal Identifier" value="12203"/>
        </identifiers>
        <balance>509612.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17449114.88000000</valUSD>
        <pctVal>0.405294946368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZAYO GROUP HOLDINGS INC COM USD.001</name>
        <lei>529900Z6OTS7RT0V0I47</lei>
        <title>ZAYO GROUP HOLDINGS INC COM USD.001</title>
        <cusip>98919V105</cusip>
        <identifiers>
          <ticker value="ZAYO"/>
          <other otherDesc="Internal Identifier" value="589528"/>
        </identifiers>
        <balance>199800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6923070.00000000</valUSD>
        <pctVal>0.160803874789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12696322709789"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>124379.00000000</valUSD>
        <pctVal>0.002888982076</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>124379.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>100000.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-8234.83</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMPERIAL BRANDS PLC ORD GBP.1</name>
        <lei>549300DFVPOB67JL3A42</lei>
        <title>IMPERIAL BRANDS PLC ORD GBP.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004544929"/>
          <other otherDesc="Internal Identifier" value="42030"/>
        </identifiers>
        <balance>3434804.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>85025035.76000000</valUSD>
        <pctVal>1.974897726635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200515</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12728522807836"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>10819572.30000000</valUSD>
        <pctVal>0.251308906223</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>10819572.30000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>12514999283.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-05-15</settlementDt>
            <unrealizedAppr>-52216.5</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEE ENTERPRISES INC 9.50% 03/15/2022 144A</name>
        <lei>N/A</lei>
        <title>LEE ENTERPRISES INC 9.50% 03/15/2022 144A</title>
        <cusip>523768AF6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="573114"/>
        </identifiers>
        <balance>97050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90529404.60000000</valUSD>
        <pctVal>2.102749075494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</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>UNITED STATES TREASURY BILL 03/05/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY BILL 03/05/2020 TBLM</title>
        <cusip>912796TH2</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1006578"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49868968.50000000</valUSD>
        <pctVal>1.158318977934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200117</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12661922569344"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1992991.15000000</valUSD>
        <pctVal>0.046291702863</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1992991.15000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2367175241.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-01-17</settlementDt>
            <unrealizedAppr>-55448.87</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12803923022810"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1096959.93000000</valUSD>
        <pctVal>0.025479362079</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>977221.49000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1085114.56000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>11845.37</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VISTRA ENERGY CORP ESRW A/C USD NPV REF SM# 599782 * FMA ONLY*</name>
        <lei>549300KP43CPCUJOOG15</lei>
        <title>VISTRA ENERGY CORP ESRW A/C USD NPV REF SM# 599782 * FMA ONLY*</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="647946"/>
        </identifiers>
        <balance>104175133.21000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57296.32000000</valUSD>
        <pctVal>0.001330835924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12795422990871"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4568.90000000</valUSD>
        <pctVal>0.000106122980</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>4568.90000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>6659.28000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-108.84</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALTEX AUSTRALIA LTD ORD AUD1</name>
        <lei>5493009TD1CGVRZ27U11</lei>
        <title>CALTEX AUSTRALIA LTD ORD AUD1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CTX1"/>
          <other otherDesc="Internal Identifier" value="52389"/>
        </identifiers>
        <balance>546016.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42959260"/>
        <valUSD>13006656.69000000</valUSD>
        <pctVal>0.302108861214</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 05/21/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 05/21/2020 TBLM</title>
        <cusip>912796SR1</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="984397"/>
        </identifiers>
        <balance>80000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79526722.40000000</valUSD>
        <pctVal>1.847187029922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE WILLIAMS COS INC COM USD1</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>THE WILLIAMS COS INC COM USD1</title>
        <cusip>969457100</cusip>
        <identifiers>
          <ticker value="WMB"/>
          <other otherDesc="Internal Identifier" value="26547"/>
        </identifiers>
        <balance>2208222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52379025.84000000</valUSD>
        <pctVal>1.216620706244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NN GROUP NV ORD EUR NPV</name>
        <lei>724500OHYNDT9OY6Q215</lei>
        <title>NN GROUP NV ORD EUR NPV</title>
        <cusip>N64038107</cusip>
        <identifiers>
          <ticker value="NN"/>
          <other otherDesc="Internal Identifier" value="579238"/>
        </identifiers>
        <balance>1223210.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89273760"/>
        <valUSD>46393222.99000000</valUSD>
        <pctVal>1.077586969476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12734622828776"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2035805.26000000</valUSD>
        <pctVal>0.047286156882</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>2035805.26000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1571623.20000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-52272.66</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>KRW_USD_20200117</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12767522903539"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1260400.49000000</valUSD>
        <pctVal>0.029275636759</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1456517549.00000000</amtCurSold>
            <curSold>KRW</curSold>
            <amtCurPur>1236327.60000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-17</settlementDt>
            <unrealizedAppr>24072.89</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200515</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12791622980300"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1205922.18000000</valUSD>
        <pctVal>0.028010255455</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1205922.18000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1398507951.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-05-15</settlementDt>
            <unrealizedAppr>-8962.67</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVEREST RE GROUP LTD ORD USD.01</name>
        <lei>549300N24XF2VV0B3570</lei>
        <title>EVEREST RE GROUP LTD ORD USD.01</title>
        <cusip>G3223R108</cusip>
        <identifiers>
          <ticker value="RE"/>
          <other otherDesc="Internal Identifier" value="198940"/>
        </identifiers>
        <balance>353566.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97881211.44000000</valUSD>
        <pctVal>2.273511327873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200116</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12587522401476"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6301743.29000000</valUSD>
        <pctVal>0.146372164222</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>6301743.29000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>4998000.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-01-16</settlementDt>
            <unrealizedAppr>-321004.7</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SORENSON COMMUNICATIONS LLC MEMBERSHIP INTERESTS 10.50% 02/01/2015 REF# 4651</name>
        <lei>549300H02Z2SUR0GB419</lei>
        <title>SORENSON COMMUNICATIONS LLC MEMBERSHIP INTERESTS 10.50% 02/01/2015 REF# 4651</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="575606"/>
        </identifiers>
        <balance>224278.89800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>152057985.91000000</valUSD>
        <pctVal>3.531888790240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sorenson Communications LLC 6.5% 03/14/2024 Initial Term Loans</name>
        <lei>549300H02Z2SUR0GB419</lei>
        <title>Sorenson Communications LLC 6.5% 03/14/2024 Initial Term Loans</title>
        <cusip>83583KAB2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="970211"/>
        </identifiers>
        <balance>12873214.29000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12808848.22000000</valUSD>
        <pctVal>0.297514314512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>INTELSAT JACKSON HOLDINGS SA 5.50% 08/01/2023</name>
        <lei>8XJ8KF85PBKK1TLMFN29</lei>
        <title>INTELSAT JACKSON HOLDINGS SA 5.50% 08/01/2023</title>
        <cusip>45824TAP0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="578130"/>
        </identifiers>
        <balance>39750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34320945.00000000</valUSD>
        <pctVal>0.797181155534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>CLEAR CHANNEL COMMUNICATIONS INC ESRW USD NPV REF SM# 551700</name>
        <lei>N/A</lei>
        <title>CLEAR CHANNEL COMMUNICATIONS INC ESRW USD NPV REF SM# 551700</title>
        <cusip>184ESCAL5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="980621"/>
        </identifiers>
        <balance>72867000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABBVIE INC COM USD NPV</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC COM USD NPV</title>
        <cusip>00287Y109</cusip>
        <identifiers>
          <ticker value="ABBV"/>
          <other otherDesc="Internal Identifier" value="537642"/>
        </identifiers>
        <balance>-185248.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-16401857.92000000</valUSD>
        <pctVal>-0.38097004757</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12806123029031"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>330512.89000000</valUSD>
        <pctVal>0.007676905387</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>330512.89000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>475311.91000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-3365.05</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERITAS US INC / VERITAS BERMUDA LTD 7.50% 02/01/2023 144A</name>
        <lei>N/A</lei>
        <title>VERITAS US INC / VERITAS BERMUDA LTD 7.50% 02/01/2023 144A</title>
        <cusip>92346LAB9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="640820"/>
        </identifiers>
        <balance>3682000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3683528.03000000</valUSD>
        <pctVal>0.085558224908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>AVAYA HOLDINGS CORP WTS EXP 12/15/2022</name>
        <lei>549300NZS2OZN6Q63A60</lei>
        <title>AVAYA HOLDINGS CORP WTS EXP 12/15/2022</title>
        <cusip>05351X119</cusip>
        <identifiers>
          <ticker value="AVYAW"/>
          <other otherDesc="Internal Identifier" value="680973"/>
        </identifiers>
        <balance>338090.00000000</balance>
        <units>OU</units>
        <descOthUnits>Warrants</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>405708.00000000</valUSD>
        <pctVal>0.009423480974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="WARRANTS TO EQUITY"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASR NEDERLAND NV ORD EUR.16</name>
        <lei>7245000G0HS48PZWUD53</lei>
        <title>ASR NEDERLAND NV ORD EUR.16</title>
        <cusip>N0709G103</cusip>
        <identifiers>
          <ticker value="ASRNL"/>
          <other otherDesc="Internal Identifier" value="636096"/>
        </identifiers>
        <balance>1510686.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89273760"/>
        <valUSD>56517138.46000000</valUSD>
        <pctVal>1.312737680883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DOW CORNING CORP ESRW ACCOUNT 0.01% 02/20/2049 REF SM # 41271</name>
        <lei>EWIQBU4ZGZNBDL3LRS69</lei>
        <title>DOW CORNING CORP ESRW ACCOUNT 0.01% 02/20/2049 REF SM # 41271</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="367906"/>
        </identifiers>
        <balance>7437829.88000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>154602.73000000</valUSD>
        <pctVal>0.003590996196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WAYNE SERVICES LEGACY INC COM USD 1</name>
        <lei>N/A</lei>
        <title>WAYNE SERVICES LEGACY INC COM USD 1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="959315"/>
        </identifiers>
        <balance>7103.78100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12635422501723"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3198871.01000000</valUSD>
        <pctVal>0.074300975341</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>3198871.01000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2854783.91000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-5708.09</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12768422905719"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3901560.00000000</valUSD>
        <pctVal>0.090622507893</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>3901560.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>3000000.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-87191.7</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARTFORD FINANCIAL SERVICES GROUP INC COM USD.01</name>
        <lei>IU7C3FTM7Y3BQM112U94</lei>
        <title>HARTFORD FINANCIAL SERVICES GROUP INC COM USD.01</title>
        <cusip>416515104</cusip>
        <identifiers>
          <ticker value="HIG"/>
          <other otherDesc="Internal Identifier" value="40830"/>
        </identifiers>
        <balance>1044190.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63455426.30000000</valUSD>
        <pctVal>1.473895024241</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12665422576274"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>417416.44000000</valUSD>
        <pctVal>0.009695435833</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>417416.44000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>373952.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-2355.7</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AFFINION GROUP INC 6.5% 04/05/2024 Term Loan TOGG PIK</name>
        <lei>T9OUIBIU0EIG4W07U515</lei>
        <title>AFFINION GROUP INC 6.5% 04/05/2024 Term Loan TOGG PIK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="969420"/>
        </identifiers>
        <balance>18650677.02000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16055118.25000000</valUSD>
        <pctVal>0.372916238721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12697722717929"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>495022.45000000</valUSD>
        <pctVal>0.011498009996</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>495022.45000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>445000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-4503.17</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DOW CORNING CORP ESCROW ACCOUNT .000001% 9/9/99 REF 43650</name>
        <lei>EWIQBU4ZGZNBDL3LRS69</lei>
        <title>DOW CORNING CORP ESCROW ACCOUNT .000001% 9/9/99 REF 43650</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="367908"/>
        </identifiers>
        <balance>1801364.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>666065.15000000</valUSD>
        <pctVal>0.015470861479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200116</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12585922394377"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>211855.51000000</valUSD>
        <pctVal>0.004920820806</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>211855.51000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>168964.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-01-16</settlementDt>
            <unrealizedAppr>-12035.24</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR/USD Mar 20 Future</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="ECH0"/>
          <other otherDesc="Internal Identifier" value="1025350"/>
        </identifiers>
        <balance>-456.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-617892.54000000</valUSD>
        <pctVal>-0.01435194424</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>EUR/USD Mar 20 Future</issuerName>
                <issueTitle>EUR/USD Mar 20 Future</issueTitle>
                <identifiers>
                  <ticker value="ECH0"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-03-16</expDate>
            <notionalAmt>-63689507.5</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-619018.86</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WALTER ENERGY INC ESRW USD NPV REF SM # 560270</name>
        <lei>N/A</lei>
        <title>WALTER ENERGY INC ESRW USD NPV REF SM # 560270</title>
        <cusip>93317QAG0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1003325"/>
        </identifiers>
        <balance>7443000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEDTRONIC PLC ORD USD.1</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>MEDTRONIC PLC ORD USD.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
          <other otherDesc="Internal Identifier" value="596122"/>
        </identifiers>
        <balance>250543.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28424103.35000000</valUSD>
        <pctVal>0.660213742761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SERITAGE GROWTH PROPERTIES REIT USD.01 CL A</name>
        <lei>5493003CJFC2MM82WB25</lei>
        <title>SERITAGE GROWTH PROPERTIES REIT USD.01 CL A</title>
        <cusip>81752R100</cusip>
        <identifiers>
          <ticker value="SRG"/>
          <other otherDesc="Internal Identifier" value="622090"/>
        </identifiers>
        <balance>-176850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-7088148.00000000</valUSD>
        <pctVal>-0.16463818269</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 05/28/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 05/28/2020 TBLM</title>
        <cusip>912796TW9</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1025237"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4968757.40000000</valUSD>
        <pctVal>0.115410568260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200117</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12607022447187"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3899726.31000000</valUSD>
        <pctVal>0.090579916318</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>3899726.31000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>4659977956.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-01-17</settlementDt>
            <unrealizedAppr>-132795.31</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200117</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12677022618297"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1706180.45000000</valUSD>
        <pctVal>0.039629879150</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>1706180.45000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2031207828.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-01-17</settlementDt>
            <unrealizedAppr>-51529.47</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP COM USD0.01</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP COM USD0.01</title>
        <cusip>68389X105</cusip>
        <identifiers>
          <ticker value="ORCL"/>
          <other otherDesc="Internal Identifier" value="25597"/>
        </identifiers>
        <balance>769800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40784004.00000000</valUSD>
        <pctVal>0.947300240014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200515</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12749722859832"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>664381.22000000</valUSD>
        <pctVal>0.015431748417</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>664381.22000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>771678784.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-05-15</settlementDt>
            <unrealizedAppr>-5976.69</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS SA ORD EUR2</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP PARIBAS SA ORD EUR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000131104"/>
          <other otherDesc="Internal Identifier" value="54247"/>
        </identifiers>
        <balance>180324.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89273760"/>
        <valUSD>10683512.48000000</valUSD>
        <pctVal>0.248148610825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTELSAT JACKSON HOLDINGS SA 6.5% 11/27/2023 Term B-3 Loan</name>
        <lei>8XJ8KF85PBKK1TLMFN29</lei>
        <title>INTELSAT JACKSON HOLDINGS SA 6.5% 11/27/2023 Term B-3 Loan</title>
        <cusip>L5137LAF2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1022995"/>
        </identifiers>
        <balance>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8026000.00000000</valUSD>
        <pctVal>0.186421905175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12658522561083"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1487101.29000000</valUSD>
        <pctVal>0.034541272822</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1487101.29000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1336059.74000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-12665.16</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12669222588253"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>433556.50000000</valUSD>
        <pctVal>0.010070325035</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>433556.50000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>389924.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-4144.69</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill- When Issued 01/21/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill- When Issued 01/21/2020 TBLM</title>
        <cusip>912796WP0</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1024767"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49961340.50000000</valUSD>
        <pctVal>1.160464525432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINDER MORGAN INC COM USD NPV</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KINDER MORGAN INC COM USD NPV</title>
        <cusip>49456B101</cusip>
        <identifiers>
          <ticker value="KMI"/>
          <other otherDesc="Internal Identifier" value="487783"/>
        </identifiers>
        <balance>415470.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8795499.90000000</valUSD>
        <pctVal>0.204295271408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12694022699850"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>621945.74000000</valUSD>
        <pctVal>0.014446088931</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>621945.74000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>507242.90000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-50728.51</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEMPRA ENERGY 6.00% CNV PFD *SER A*</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY 6.00% CNV PFD *SER A*</title>
        <cusip>816851406</cusip>
        <identifiers>
          <ticker value="SRE"/>
          <other otherDesc="Internal Identifier" value="682147"/>
        </identifiers>
        <balance>245650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29482913.00000000</valUSD>
        <pctVal>0.684806978766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12736422833736"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2477329.66000000</valUSD>
        <pctVal>0.057541554319</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>2477329.66000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1918511.41000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-71628.2</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NAVISTAR INTERNATIONAL CORP 6.625% 11/01/2025 144A</name>
        <lei>WNDD3CRVXJGC8I7GX671</lei>
        <title>NAVISTAR INTERNATIONAL CORP 6.625% 11/01/2025 144A</title>
        <cusip>63934EAT5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="678063"/>
        </identifiers>
        <balance>18270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18650655.45000000</valUSD>
        <pctVal>0.433203429075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>United States Treasury Bill 01/23/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 01/23/2020 TBLM</title>
        <cusip>912796TC3</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="998558"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49957271.00000000</valUSD>
        <pctVal>1.160370002140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OCCIDENTAL PETROLEUM CORP COM USD.2</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>OCCIDENTAL PETROLEUM CORP COM USD.2</title>
        <cusip>674599105</cusip>
        <identifiers>
          <ticker value="OXY"/>
          <other otherDesc="Internal Identifier" value="18979"/>
        </identifiers>
        <balance>1229030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50648326.30000000</valUSD>
        <pctVal>1.176421316071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12655922555368"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3932396.48000000</valUSD>
        <pctVal>0.091338754511</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>3932396.48000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>3548421.76000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-50811.56</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12694922702630"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>743846.87000000</valUSD>
        <pctVal>0.017277516903</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>743846.87000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>605817.43000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-59550.84</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12725622803802"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>986651.51000000</valUSD>
        <pctVal>0.022917200876</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>986651.51000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>759393.80000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-22288.43</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELI LILLY &amp; CO COM NPV</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO COM NPV</title>
        <cusip>532457108</cusip>
        <identifiers>
          <ticker value="LLY"/>
          <other otherDesc="Internal Identifier" value="16427"/>
        </identifiers>
        <balance>796911.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>104738012.73000000</valUSD>
        <pctVal>2.432775962796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12773122926131"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1334502.90000000</valUSD>
        <pctVal>0.030996831931</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>1334502.90000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1010000.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-8376.84</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12796622994834"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>934462.41000000</valUSD>
        <pctVal>0.021704991625</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>832461.35000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>927520.11000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>6942.3</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RSA INSURANCE GROUP PLC ORD GBP1</name>
        <lei>549300HOGQ7E0TY86138</lei>
        <title>RSA INSURANCE GROUP PLC ORD GBP1</title>
        <cusip>G7705H157</cusip>
        <identifiers>
          <ticker value="RSA"/>
          <other otherDesc="Internal Identifier" value="40675"/>
        </identifiers>
        <balance>9614692.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>72024514.45000000</valUSD>
        <pctVal>1.672931373423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IHEARTMEDIA INC COM USD NPV CL B</name>
        <lei>N/A</lei>
        <title>IHEARTMEDIA INC COM USD NPV CL B</title>
        <cusip>45174J608</cusip>
        <identifiers>
          <ticker value="1714513D"/>
          <other otherDesc="Internal Identifier" value="987628"/>
        </identifiers>
        <balance>23770.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>341456.05000000</valUSD>
        <pctVal>0.007931084895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GBP_USD_20200116</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12781322957552"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>265015.93000000</valUSD>
        <pctVal>0.006155591150</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>200000.00000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>264626.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-16</settlementDt>
            <unrealizedAppr>389.93</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERITAS US INC / VERITAS BERMUDA LTD 10.50% 02/01/2024 144A</name>
        <lei>N/A</lei>
        <title>VERITAS US INC / VERITAS BERMUDA LTD 10.50% 02/01/2024 144A</title>
        <cusip>92346LAA1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="634575"/>
        </identifiers>
        <balance>30222000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28043447.13000000</valUSD>
        <pctVal>0.651372145733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</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>TRIBUNE MEDIA CO CLASS 1C LITIGATION INTERESTS</name>
        <lei>5493003IDYU5GPPRFU47</lei>
        <title>TRIBUNE MEDIA CO CLASS 1C LITIGATION INTERESTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="539161"/>
        </identifiers>
        <balance>1524555.42000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12756922870539"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2877043.06000000</valUSD>
        <pctVal>0.066825797223</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>2563000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>2845929.57000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>31113.49</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12620322474806"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>42820155.99000000</valUSD>
        <pctVal>0.994594450481</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>42820155.99000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>35153783.69000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-3798623.85</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12734222825475"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>890448.66000000</valUSD>
        <pctVal>0.020682673269</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>890448.66000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>693670.88000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-31171</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12775622932427"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5627753.73000000</valUSD>
        <pctVal>0.130717240493</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>5627753.73000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>4266908.58000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-45459.22</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12665522576285"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>415261.29000000</valUSD>
        <pctVal>0.009645377626</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>415261.29000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>372218.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-2564.39</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12732722822416"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>522712.91000000</valUSD>
        <pctVal>0.012141183222</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>522712.91000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>405489.85000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-16025.89</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AFFINION GROUP HOLDINGS INC WTS EXP 11/10/2022</name>
        <lei>549300KQQ3W775I3BX27</lei>
        <title>AFFINION GROUP HOLDINGS INC WTS EXP 11/10/2022</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="665854"/>
        </identifiers>
        <balance>549716.00000000</balance>
        <units>OU</units>
        <descOthUnits>Warrants</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="WARRANTS TO EQUITY"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY GLOBAL PLC ORD USD.01 SER C</name>
        <lei>549300BSGXG3QLIQYT84</lei>
        <title>LIBERTY GLOBAL PLC ORD USD.01 SER C</title>
        <cusip>G5480U120</cusip>
        <identifiers>
          <ticker value="LBTYK"/>
          <other otherDesc="Internal Identifier" value="552456"/>
        </identifiers>
        <balance>4194789.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>91425426.26000000</valUSD>
        <pctVal>2.123561194225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12808323033750"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>392889.30000000</valUSD>
        <pctVal>0.009125737830</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>350003.55000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>391831.07000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>1058.23</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NORTONLIFELOCK INC STRIKE 20 EXPIRES 01/17/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="NLOK 1 P20"/>
          <other otherDesc="Internal Identifier" value="1002114"/>
        </identifiers>
        <balance>-354.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIESPLC</counterpartyName>
              <counterpartyLei>K6Q0W1PS1L1O4IQL9C32</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NORTONLIFELOCK INC STRIKE 20 EXPIRES 01/17/20 PUTS</issuerName>
                <issueTitle>NORTONLIFELOCK INC STRIKE 20 EXPIRES 01/17/20 PUTS</issueTitle>
                <identifiers>
                  <cusip value="668771108"/>
                  <isin value="US6687711084"/>
                  <ticker value="NLOK 1 P20"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>20</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>17331.89</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200116</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12593622418681"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3778110.00000000</valUSD>
        <pctVal>0.087755103932</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>3778110.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>3000000.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-01-16</settlementDt>
            <unrealizedAppr>-197128.89</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PERRIGO CO PLC ORD USD.001</name>
        <lei>549300IFOQS6R1QLY196</lei>
        <title>PERRIGO CO PLC ORD USD.001</title>
        <cusip>G97822103</cusip>
        <identifiers>
          <ticker value="PRGO"/>
          <other otherDesc="Internal Identifier" value="566887"/>
        </identifiers>
        <balance>1564842.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80839737.72000000</valUSD>
        <pctVal>1.877684764470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DISCOVERY INC COM USD NPV CL C</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>DISCOVERY INC COM USD NPV CL C</title>
        <cusip>25470F302</cusip>
        <identifiers>
          <ticker value="DISCK"/>
          <other otherDesc="Internal Identifier" value="430289"/>
        </identifiers>
        <balance>3223884.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>98296223.16000000</valUSD>
        <pctVal>2.283150908675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRONTIER COMMUNICATIONS CORP 10.50% 09/15/2022</name>
        <lei>549300ZCZ76HYCS0H445</lei>
        <title>FRONTIER COMMUNICATIONS CORP 10.50% 09/15/2022</title>
        <cusip>35906AAW8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="635549"/>
        </identifiers>
        <balance>77063000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37784913.66000000</valUSD>
        <pctVal>0.877639620157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</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>Windstream Services LLC 6.5% 03/30/2021 Term Loan B6</name>
        <lei>549300L3SXBFJVGRCF66</lei>
        <title>Windstream Services LLC 6.5% 03/30/2021 Term Loan B6</title>
        <cusip>97381HAR8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="979806"/>
        </identifiers>
        <balance>12922000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12398193.81000000</valUSD>
        <pctVal>0.287975942037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12697822717945"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>494680.69000000</valUSD>
        <pctVal>0.011490071851</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>494680.69000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>445000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-4844.93</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12776622934612"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>7372521.10000000</valUSD>
        <pctVal>0.171243387666</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>7372521.10000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>5588926.87000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-58426.09</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHARTER COMMUNICATIONS INC COM USD.001 CL A</name>
        <lei>0J0XRGZE3PBRFEZ7MV65</lei>
        <title>CHARTER COMMUNICATIONS INC COM USD.001 CL A</title>
        <cusip>16119P108</cusip>
        <identifiers>
          <ticker value="CHTR"/>
          <other otherDesc="Internal Identifier" value="634072"/>
        </identifiers>
        <balance>93270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45243411.60000000</valUSD>
        <pctVal>1.050880013344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200515</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12727422806411"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2115183.23000000</valUSD>
        <pctVal>0.049129888802</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>2115183.23000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2447795796.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-05-15</settlementDt>
            <unrealizedAppr>-11218.72</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12702722743425"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1483983.97000000</valUSD>
        <pctVal>0.034468866052</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>1322000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1469244.36000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>14739.61</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEE ENTERPRISES INC 6.5% 12/15/2022 Second Lien Term Loan</name>
        <lei>N/A</lei>
        <title>LEE ENTERPRISES INC 6.5% 12/15/2022 Second Lien Term Loan</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="600014"/>
        </identifiers>
        <balance>34317486.44000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34210244.29000000</valUSD>
        <pctVal>0.794609882513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12804023022805"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>729533.00000000</valUSD>
        <pctVal>0.016945045072</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>649900.97000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>721655.24000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>7877.76</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12738322840116"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>911031.61000000</valUSD>
        <pctVal>0.021160758585</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>911031.61000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>706007.14000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-26978.16</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BP PLC ORD GBP.25</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC ORD GBP.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0007980591"/>
          <other otherDesc="Internal Identifier" value="283"/>
        </identifiers>
        <balance>9261430.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>57847874.58000000</valUSD>
        <pctVal>1.343647020875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12759422874338"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>270264.24000000</valUSD>
        <pctVal>0.006277494956</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>240763.60000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>266546.25000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>3717.99</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAIDU INC ADR CLASS A</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC ADR CLASS A</title>
        <cusip>056752108</cusip>
        <identifiers>
          <ticker value="BIDU"/>
          <other otherDesc="Internal Identifier" value="344219"/>
        </identifiers>
        <balance>805393.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101801675.20000000</valUSD>
        <pctVal>2.364572918119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12582022380987"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>177608.66000000</valUSD>
        <pctVal>0.004125360674</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>177608.66000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>155380.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>3190.03</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>TIFFANY &amp; CO STRIKE 130 EXPIRES 01/17/20 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="TIF 1 C130"/>
          <other otherDesc="Internal Identifier" value="1024511"/>
        </identifiers>
        <balance>500.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>187500.00000000</valUSD>
        <pctVal>0.004355109297</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIESPLC</counterpartyName>
              <counterpartyLei>K6Q0W1PS1L1O4IQL9C32</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TIFFANY &amp; CO STRIKE 130 EXPIRES 01/17/20 CALLS</issuerName>
                <issueTitle>TIFFANY &amp; CO STRIKE 130 EXPIRES 01/17/20 CALLS</issueTitle>
                <identifiers>
                  <cusip value="886547108"/>
                  <isin value="US8865471085"/>
                  <ticker value="TIF 1 C130"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>130</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>53480.6</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEWPAGE CORP ESCROW ACCOUNT 11.375% 12/31/14 *REF SM#459991*</name>
        <lei>NO9X1VSZ0FTLOJMCQD79</lei>
        <title>NEWPAGE CORP ESCROW ACCOUNT 11.375% 12/31/14 *REF SM#459991*</title>
        <cusip>651715AK0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="540331"/>
        </identifiers>
        <balance>723000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>477.18000000</valUSD>
        <pctVal>0.000011083578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 02/06/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 02/06/2020 TBLM</title>
        <cusip>912796TE9</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1000903"/>
        </identifiers>
        <balance>33000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32952356.25000000</valUSD>
        <pctVal>0.765392603057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gannett Co Inc COM USD.01</name>
        <lei>549300JQ2PU0RI3ZBA32</lei>
        <title>Gannett Co Inc COM USD.01</title>
        <cusip>36472T109</cusip>
        <identifiers>
          <ticker value="GCI"/>
          <other otherDesc="Internal Identifier" value="569883"/>
        </identifiers>
        <balance>2768935.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17665805.30000000</valUSD>
        <pctVal>0.410328068836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12808123032218"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>894932.49000000</valUSD>
        <pctVal>0.020786820307</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>894932.49000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1281092.08000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-4957.41</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12802023015439"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3273656.33000000</valUSD>
        <pctVal>0.076038032634</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>3273656.33000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>4739346.69000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-55448.8</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12608222448579"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>900194.37000000</valUSD>
        <pctVal>0.020909039307</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>801933.83000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>902376.04000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-2181.67</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BUNGE LTD ORD USD.01</name>
        <lei>5493007M0RIN8HY3MM77</lei>
        <title>BUNGE LTD ORD USD.01</title>
        <cusip>G16962105</cusip>
        <identifiers>
          <ticker value="BG"/>
          <other otherDesc="Internal Identifier" value="215313"/>
        </identifiers>
        <balance>627878.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36134378.90000000</valUSD>
        <pctVal>0.839302237336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200117</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12604222443272"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3952418.42000000</valUSD>
        <pctVal>0.091803809108</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>3952418.42000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>4671363326.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-01-17</settlementDt>
            <unrealizedAppr>-89955.56</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12671522595030"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3158337.34000000</valUSD>
        <pctVal>0.073359489672</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>3158337.34000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2540285.80000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-210433.02</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON INGALLS INDUSTRIES INC COM USD NPV</name>
        <lei>5TZLZ6WJTBVJ0QWBG121</lei>
        <title>HUNTINGTON INGALLS INDUSTRIES INC COM USD NPV</title>
        <cusip>446413106</cusip>
        <identifiers>
          <ticker value="HII"/>
          <other otherDesc="Internal Identifier" value="490494"/>
        </identifiers>
        <balance>186900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46889472.00000000</valUSD>
        <pctVal>1.089113469088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 03/26/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 03/26/2020 TBLM</title>
        <cusip>912796SH3</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="971235"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24912339.50000000</valUSD>
        <pctVal>0.578645127331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROYAL DUTCH SHELL PLC ORD EUR.07 A SHARES</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>ROYAL DUTCH SHELL PLC ORD EUR.07 A SHARES</title>
        <cusip>G7690A100</cusip>
        <identifiers>
          <ticker value="RDSA"/>
          <other otherDesc="Internal Identifier" value="335947"/>
        </identifiers>
        <balance>1467136.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89273760"/>
        <valUSD>43049789.40000000</valUSD>
        <pctVal>0.999928203008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCHAEFFLER AG PRF EUR NPV</name>
        <lei>549300Q7E782X7GC1P43</lei>
        <title>SCHAEFFLER AG PRF EUR NPV</title>
        <cusip>D6T0B6130</cusip>
        <identifiers>
          <ticker value="SHA"/>
          <other otherDesc="Internal Identifier" value="614244"/>
        </identifiers>
        <balance>1365000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89273760"/>
        <valUSD>14738342.72000000</valUSD>
        <pctVal>0.342331164837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Avaya Holdings Corp COM USD 0.0010</name>
        <lei>549300NZS2OZN6Q63A60</lei>
        <title>Avaya Holdings Corp COM USD 0.0010</title>
        <cusip>05351X101</cusip>
        <identifiers>
          <ticker value="AVYA"/>
          <other otherDesc="Internal Identifier" value="820025"/>
        </identifiers>
        <balance>168.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2268.00000000</valUSD>
        <pctVal>0.000052679402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12633622494884"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3381076.50000000</valUSD>
        <pctVal>0.078533107734</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>3381076.50000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>3010378.49000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>1837.9</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 01/16/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 01/16/2020 TBLM</title>
        <cusip>912796TB5</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="996761"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49972923.50000000</valUSD>
        <pctVal>1.160733566664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL AUTOMOTIVE COMPONENTS GROUP BRAZIL LLC COM USD1 ***PRIVATE PLACEMENT**</name>
        <lei>N/A</lei>
        <title>INTERNATIONAL AUTOMOTIVE COMPONENTS GROUP BRAZIL LLC COM USD1 ***PRIVATE PLACEMENT**</title>
        <cusip>45904F983</cusip>
        <identifiers>
          <ticker value="DDDICA"/>
          <other otherDesc="Internal Identifier" value="359412"/>
        </identifiers>
        <balance>2548299.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>92503.25000000</valUSD>
        <pctVal>0.002148596075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEE ENTERPRISES INC WTS EXP 12/31/2022</name>
        <lei>N/A</lei>
        <title>LEE ENTERPRISES INC WTS EXP 12/31/2022</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="573683"/>
        </identifiers>
        <balance>1110000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Warrants</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>130691.40000000</valUSD>
        <pctVal>0.003035601766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="WARRANTS TO EQUITY"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JXTG Holdings Inc ORD JPY NPV</name>
        <lei>3538001KQ5SAOZSQTT44</lei>
        <title>JXTG Holdings Inc ORD JPY NPV</title>
        <cusip>J29699105</cusip>
        <identifiers>
          <ticker value="5020"/>
          <other otherDesc="Internal Identifier" value="464389"/>
        </identifiers>
        <balance>20035237.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.84500000"/>
        <valUSD>91792449.99000000</valUSD>
        <pctVal>2.132086146006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NAVISTAR INTERNATIONAL CORP COM USD.1</name>
        <lei>WNDD3CRVXJGC8I7GX671</lei>
        <title>NAVISTAR INTERNATIONAL CORP COM USD.1</title>
        <cusip>63934E108</cusip>
        <identifiers>
          <ticker value="NAV"/>
          <other otherDesc="Internal Identifier" value="63883"/>
        </identifiers>
        <balance>2355409.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68165536.46000000</valUSD>
        <pctVal>1.583297928503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 02/27/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 02/27/2020 TBLM</title>
        <cusip>912796SD2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="964887"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4988294.45000000</valUSD>
        <pctVal>0.115864360197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GBP/USD Mar 20 Future</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="BPH0"/>
          <other otherDesc="Internal Identifier" value="1025346"/>
        </identifiers>
        <balance>-815.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-468265.38000000</valUSD>
        <pctVal>-0.01087651685</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
            </counterparties>
            <counterparties>
              <counterpartyName>MORGAN STANLEY</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GBP/USD Mar 20 Future</issuerName>
                <issueTitle>GBP/USD Mar 20 Future</issueTitle>
                <identifiers>
                  <ticker value="BPH0"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-03-16</expDate>
            <notionalAmt>-67237859.38</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-470278.43</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baker Hughes Co COM USD 0.0001 CL A </name>
        <lei>N/A</lei>
        <title>Baker Hughes Co COM USD 0.0001 CL A </title>
        <cusip>05722G100</cusip>
        <identifiers>
          <ticker value="BKR"/>
          <other otherDesc="Internal Identifier" value="810540"/>
        </identifiers>
        <balance>162400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4162312.00000000</valUSD>
        <pctVal>0.096679059677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LANCASHIRE HOLDINGS LTD ORD USD.5</name>
        <lei>5493002UNUYXLHOWF752</lei>
        <title>LANCASHIRE HOLDINGS LTD ORD USD.5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG5361W1047"/>
          <other otherDesc="Internal Identifier" value="376888"/>
        </identifiers>
        <balance>47520.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>482733.41000000</valUSD>
        <pctVal>0.011212569397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12620622474896"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>42820472.75000000</valUSD>
        <pctVal>0.994601807944</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>42820472.75000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>35153784.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-3798307.5</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENVISION HEALTHCARE CORP 6.5% 10/11/2025 Term Loan B</name>
        <lei>549300OL60X0LPKY8N60</lei>
        <title>ENVISION HEALTHCARE CORP 6.5% 10/11/2025 Term Loan B</title>
        <cusip>29373UAC5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="942060"/>
        </identifiers>
        <balance>40639624.07000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34871073.27000000</valUSD>
        <pctVal>0.809959122165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>FRONTIER COMMUNICATIONS CORP 8.875% 09/15/2020</name>
        <lei>549300ZCZ76HYCS0H445</lei>
        <title>FRONTIER COMMUNICATIONS CORP 8.875% 09/15/2020</title>
        <cusip>35906AAT5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="663321"/>
        </identifiers>
        <balance>21382000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11653190.00000000</valUSD>
        <pctVal>0.270671552600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</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>Envision Healthcare Corp 8.75% 10/15/2026 144A</name>
        <lei>549300OL60X0LPKY8N60</lei>
        <title>Envision Healthcare Corp 8.75% 10/15/2026 144A</title>
        <cusip>29373TAA2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="933879"/>
        </identifiers>
        <balance>140000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87198650.00000000</valUSD>
        <pctVal>2.025384807091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</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>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12786622970494"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1459288.33000000</valUSD>
        <pctVal>0.033895254258</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1300000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1456221.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>3067.33</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12795222990866"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1337737.96000000</valUSD>
        <pctVal>0.031071973477</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1337737.96000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1949785.32000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-31868.6</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADVANCED EMISSIONS SOLUTIONS INC COM USD NPV</name>
        <lei>52990086HRJSW2EZQH40</lei>
        <title>ADVANCED EMISSIONS SOLUTIONS INC COM USD NPV</title>
        <cusip>00770C101</cusip>
        <identifiers>
          <ticker value="ADES"/>
          <other otherDesc="Internal Identifier" value="503960"/>
        </identifiers>
        <balance>1724209.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18104194.50000000</valUSD>
        <pctVal>0.420510644200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12810123037136"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>706878.65000000</valUSD>
        <pctVal>0.016418846830</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>629719.45000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>706476.58000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>402.07</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTONLIFELOCK INC COM USD0.01</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>NORTONLIFELOCK INC COM USD0.01</title>
        <cusip>668771108</cusip>
        <identifiers>
          <ticker value="NLOK"/>
          <other otherDesc="Internal Identifier" value="30351"/>
        </identifiers>
        <balance>1505152.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38411479.04000000</valUSD>
        <pctVal>0.892193010620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intelsat Connect Finance SA 9.5% 02/15/2023 144A</name>
        <lei>549300T8SOCBO2H77X11</lei>
        <title>Intelsat Connect Finance SA 9.5% 02/15/2023 144A</title>
        <cusip>45827AAD5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="921202"/>
        </identifiers>
        <balance>47845000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33596759.00000000</valUSD>
        <pctVal>0.780360306565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</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>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12810323037145"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>248658.84000000</valUSD>
        <pctVal>0.005775660938</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>221516.53000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>248517.40000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>141.44</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12802923019932"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1505747.73000000</valUSD>
        <pctVal>0.034974378337</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1505747.73000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2176338.59000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-22998.83</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12710522764848"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>100499451.71000000</valUSD>
        <pctVal>2.334325848100</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>100499451.71000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>77335230.21000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-2249086.48</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAMSUNG ELECTRONICS CO LTD PFD KRW 100</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>SAMSUNG ELECTRONICS CO LTD PFD KRW 100</title>
        <cusip>Y74718118</cusip>
        <identifiers>
          <ticker value="005935"/>
          <other otherDesc="Internal Identifier" value="34468"/>
        </identifiers>
        <balance>1162517.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1157.94000000"/>
        <valUSD>45656339.41000000</valUSD>
        <pctVal>1.060471190648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRONTIER COMMUNICATIONS CORP 8.50% 04/01/2026 144A</name>
        <lei>549300ZCZ76HYCS0H445</lei>
        <title>FRONTIER COMMUNICATIONS CORP 8.50% 04/01/2026 144A</title>
        <cusip>35906ABA5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686378"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25358750.00000000</valUSD>
        <pctVal>0.589014015432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</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>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12671622596046"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1085295.79000000</valUSD>
        <pctVal>0.025208436188</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1085295.79000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>973239.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-7193.68</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUFRY AG ORD CHF5</name>
        <lei>549300X53WDBVW7TIF57</lei>
        <title>DUFRY AG ORD CHF5</title>
        <cusip>H2082J107</cusip>
        <identifiers>
          <ticker value="DUFN"/>
          <other otherDesc="Internal Identifier" value="372060"/>
        </identifiers>
        <balance>30278.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.96915000"/>
        <valUSD>3004488.77000000</valUSD>
        <pctVal>0.069786010538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTELSAT SA ORD USD.01</name>
        <lei>529900YI9I36GOXH4729</lei>
        <title>INTELSAT SA ORD USD.01</title>
        <cusip>L5140P101</cusip>
        <identifiers>
          <ticker value="I"/>
          <other otherDesc="Internal Identifier" value="547700"/>
        </identifiers>
        <balance>1002495.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7047539.85000000</valUSD>
        <pctVal>0.163694967061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 02/20/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 02/20/2020 TBLM</title>
        <cusip>912796TG4</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1003354"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24948618.00000000</valUSD>
        <pctVal>0.579487777105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVARTIS AG ADR</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>NOVARTIS AG ADR</title>
        <cusip>66987V109</cusip>
        <identifiers>
          <ticker value="NVS"/>
          <other otherDesc="Internal Identifier" value="43666"/>
        </identifiers>
        <balance>529806.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50167330.14000000</valUSD>
        <pctVal>1.165249098213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAE SYSTEMS PLC ORD GBP.025</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
        <title>BAE SYSTEMS PLC ORD GBP.025</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002634946"/>
          <other otherDesc="Internal Identifier" value="11825"/>
        </identifiers>
        <balance>7240981.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>54166111.31000000</valUSD>
        <pctVal>1.258129786487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200515</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12791922980565"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1205922.18000000</valUSD>
        <pctVal>0.028010255455</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>1205922.18000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1398507951.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-05-15</settlementDt>
            <unrealizedAppr>-8962.67</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Advanced Disposal Services Inc COM USD 0.01</name>
        <lei>549300ML1GEF4BKIM713</lei>
        <title>Advanced Disposal Services Inc COM USD 0.01</title>
        <cusip>00790X101</cusip>
        <identifiers>
          <ticker value="ADSW"/>
          <other otherDesc="Internal Identifier" value="801601"/>
        </identifiers>
        <balance>865200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28439124.00000000</valUSD>
        <pctVal>0.660562631148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200515</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12782922962929"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2294102.28000000</valUSD>
        <pctVal>0.053285686232</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>2294102.28000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2690064338.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-05-15</settlementDt>
            <unrealizedAppr>-42758.53</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IHEARTCOMMUNICATIONS INC ESRW USD NPV REF SM#551308</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>IHEARTCOMMUNICATIONS INC ESRW USD NPV REF SM#551308</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="981196"/>
        </identifiers>
        <balance>46662631.37000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brighthouse Financial Inc COM USD 0.01</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc COM USD 0.01</title>
        <cusip>10922N103</cusip>
        <identifiers>
          <ticker value="BHF"/>
          <other otherDesc="Internal Identifier" value="812183"/>
        </identifiers>
        <balance>1987579.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>77972724.17000000</valUSD>
        <pctVal>1.811091925178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC COM USD1</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC COM USD1</title>
        <cusip>00206R102</cusip>
        <identifiers>
          <ticker value="T"/>
          <other otherDesc="Internal Identifier" value="1918"/>
        </identifiers>
        <balance>720975.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28175703.00000000</valUSD>
        <pctVal>0.654444085835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12734822828791"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1327181.09000000</valUSD>
        <pctVal>0.030826766422</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>1327181.09000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1024571.77000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-34077.57</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200424</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12740522844205"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>960784.40000000</valUSD>
        <pctVal>0.022316379056</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>960784.40000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>742350.68000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-04-24</settlementDt>
            <unrealizedAppr>-25511.85</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12799023003904"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2178716.02000000</valUSD>
        <pctVal>0.050605580773</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>2178716.02000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>3160110.44000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-41070.92</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bristol-Myers Squibb Co RTS EXP 02/01/2049</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co RTS EXP 02/01/2049</title>
        <cusip>110122157</cusip>
        <identifiers>
          <ticker value="BMY-R"/>
          <other otherDesc="Internal Identifier" value="1024359"/>
        </identifiers>
        <balance>295300.00000000</balance>
        <units>OU</units>
        <descOthUnits>Rights</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>888853.00000000</valUSD>
        <pctVal>0.020645610476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOYA FINANCIAL INC COM USD NPV</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>VOYA FINANCIAL INC COM USD NPV</title>
        <cusip>929089100</cusip>
        <identifiers>
          <ticker value="VOYA"/>
          <other otherDesc="Internal Identifier" value="548333"/>
        </identifiers>
        <balance>1638886.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>99939268.28000000</valUSD>
        <pctVal>2.321314327758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12672722600935"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>637852.43000000</valUSD>
        <pctVal>0.014815557590</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>637852.43000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>570178.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-2189.18</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12783122963694"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1661300.90000000</valUSD>
        <pctVal>0.038587450641</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>1479961.93000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1648615.43000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>12685.47</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALLERGAN PLC ORD USD.0033</name>
        <lei>635400FWJZQC1IPYUH69</lei>
        <title>ALLERGAN PLC ORD USD.0033</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BY9D5467"/>
          <other otherDesc="Internal Identifier" value="560635"/>
        </identifiers>
        <balance>202983.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38804260.11000000</valUSD>
        <pctVal>0.901316234565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200116</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12582122380993"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2189362.49000000</valUSD>
        <pctVal>0.050852868988</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>2189362.49000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1730378.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-01-16</settlementDt>
            <unrealizedAppr>-103526.15</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12787622973475"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1538153.68000000</valUSD>
        <pctVal>0.035727079426</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1538153.68000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2227410.17000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-26467.59</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VODAFONE GROUP PLC ORD GBP.2095</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GROUP PLC ORD GBP.2095</title>
        <cusip>G93882192</cusip>
        <identifiers>
          <ticker value="VOD"/>
          <other otherDesc="Internal Identifier" value="367255"/>
        </identifiers>
        <balance>28081388.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>54583557.20000000</valUSD>
        <pctVal>1.267825906363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALTRIA GROUP INC COM USD.3333</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>ALTRIA GROUP INC COM USD.3333</title>
        <cusip>02209S103</cusip>
        <identifiers>
          <ticker value="MO"/>
          <other otherDesc="Internal Identifier" value="6883"/>
        </identifiers>
        <balance>1356100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67682951.00000000</valUSD>
        <pctVal>1.572088795577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANFF MERGER SUB INC 9.75% 09/01/2026 144A</name>
        <lei>549300DSDR5SWIGOZV63</lei>
        <title>BANFF MERGER SUB INC 9.75% 09/01/2026 144A</title>
        <cusip>05988LAA6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="921873"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50751250.00000000</valUSD>
        <pctVal>1.178811950539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75000000</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>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12605422445041"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>652152.72000000</valUSD>
        <pctVal>0.015147713995</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>580967.12000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>652326.15000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-173.43</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_AUD_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12792322981503"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1333100.52000000</valUSD>
        <pctVal>0.030964258500</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>1333100.52000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1942125.98000000</amtCurPur>
            <curPur>AUD</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-31125.82</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 01/14/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 01/14/2020 TBLM</title>
        <cusip>912796WN5</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1022172"/>
        </identifiers>
        <balance>30000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29985375.00000000</valUSD>
        <pctVal>0.696477789047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARATHON OIL CORP COM USD1</name>
        <lei>1FRVQX2CRLGC1XLP5727</lei>
        <title>MARATHON OIL CORP COM USD1</title>
        <cusip>565849106</cusip>
        <identifiers>
          <ticker value="MRO"/>
          <other otherDesc="Internal Identifier" value="16990"/>
        </identifiers>
        <balance>3163559.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42961131.22000000</valUSD>
        <pctVal>0.997868917333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12752522863484"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>52200104.94000000</valUSD>
        <pctVal>1.212464865844</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>52200104.94000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>40254935.80000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-1322209.63</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIFFANY &amp; CO COM USD0.01</name>
        <lei>549300EJG9IEYQL5XT21</lei>
        <title>TIFFANY &amp; CO COM USD0.01</title>
        <cusip>886547108</cusip>
        <identifiers>
          <ticker value="TIF"/>
          <other otherDesc="Internal Identifier" value="30393"/>
        </identifiers>
        <balance>153164.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20470368.60000000</valUSD>
        <pctVal>0.475470360584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRITISH AMERICAN TOBACCO PLC ORD GBP.25</name>
        <lei>213800FKA5MF17RJKT63</lei>
        <title>BRITISH AMERICAN TOBACCO PLC ORD GBP.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002875804"/>
          <other otherDesc="Internal Identifier" value="188809"/>
        </identifiers>
        <balance>4311835.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>184544818.36000000</valUSD>
        <pctVal>4.286468555807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iHeartMedia Inc COM USD NPV CL A</name>
        <lei>N/A</lei>
        <title>iHeartMedia Inc COM USD NPV CL A</title>
        <cusip>45174J509</cusip>
        <identifiers>
          <ticker value="IHRT"/>
          <other otherDesc="Internal Identifier" value="987622"/>
        </identifiers>
        <balance>1623513.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27437369.70000000</valUSD>
        <pctVal>0.637294633998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12674822608427"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>180613.99000000</valUSD>
        <pctVal>0.004195166224</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>180613.99000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>161855.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-1073.02</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VISTRA ENERGY CORP COM USD NPV</name>
        <lei>549300KP43CPCUJOOG15</lei>
        <title>VISTRA ENERGY CORP COM USD NPV</title>
        <cusip>92840M102</cusip>
        <identifiers>
          <ticker value="VST"/>
          <other otherDesc="Internal Identifier" value="647475"/>
        </identifiers>
        <balance>2401437.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55209036.63000000</valUSD>
        <pctVal>1.282354073194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 06/25/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 06/25/2020 TBLM</title>
        <cusip>912796UA5</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1035180"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49627882.00000000</valUSD>
        <pctVal>1.152719201626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200116</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12599522436710"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5031827.50000000</valUSD>
        <pctVal>0.116875513215</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>5031827.50000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>4100000.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-01-16</settlementDt>
            <unrealizedAppr>-400998.98</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 01/02/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 01/02/2020 TBLM</title>
        <cusip>912796RT8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="953541"/>
        </identifiers>
        <balance>35000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35000000.00000000</valUSD>
        <pctVal>0.812953735501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ALLERGAN PLC STRIKE 150 EXPIRES 01/17/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="AGN 1 P150"/>
          <other otherDesc="Internal Identifier" value="1000080"/>
        </identifiers>
        <balance>-500.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4500.00000000</valUSD>
        <pctVal>-0.00010452262</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>UBS AG LONDON</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ALLERGAN PLC STRIKE 150 EXPIRES 01/17/20 PUTS</issuerName>
                <issueTitle>ALLERGAN PLC STRIKE 150 EXPIRES 01/17/20 PUTS</issueTitle>
                <identifiers>
                  <isin value="IE00BY9D5467"/>
                  <ticker value="AGN 1 P150"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>150</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>218976.39</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12737522838772"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1683794.22000000</valUSD>
        <pctVal>0.039109908599</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>1500000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1659394.50000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>24399.72</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200214</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12669022587803"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>876979.90000000</valUSD>
        <pctVal>0.020369831018</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>876979.90000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>707129.51000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-02-14</settlementDt>
            <unrealizedAppr>-60771.64</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12775322932411"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5622463.38000000</valUSD>
        <pctVal>0.130594360214</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>5622463.38000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>4263091.42000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-45674.34</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN NATURAL RESOURCES LTD ORD NPV</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>CANADIAN NATURAL RESOURCES LTD ORD NPV</title>
        <cusip>136385101</cusip>
        <identifiers>
          <ticker value="CNQ"/>
          <other otherDesc="Internal Identifier" value="191013"/>
        </identifiers>
        <balance>182800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.30590000"/>
        <valUSD>5912213.15000000</valUSD>
        <pctVal>0.137324450439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12665222576235"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>416005.73000000</valUSD>
        <pctVal>0.009662668919</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>416005.73000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>372218.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-1819.95</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12799223003886"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1108841.99000000</valUSD>
        <pctVal>0.025755349652</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>987806.56000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1101370.73000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>7471.26</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200407</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12734522828769"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>401235.41000000</valUSD>
        <pctVal>0.009319595010</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>401235.41000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>360085.23000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-04-07</settlementDt>
            <unrealizedAppr>-5086.86</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12769822910296"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>449263.07000000</valUSD>
        <pctVal>0.010435145456</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>449263.07000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>345531.16000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-10149.6</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill 03/19/2020 TBLM</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill 03/19/2020 TBLM</title>
        <cusip>912796TL3</cusip>
        <identifiers>
          <ticker value="B"/>
          <other otherDesc="Internal Identifier" value="1011404"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49842078.50000000</valUSD>
        <pctVal>1.157694397192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12633422494885"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3380735.68000000</valUSD>
        <pctVal>0.078525191422</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>3380735.68000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>3010000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>1921.94</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COGNIZANT TECHNOLOGY SOLUTIONS CORP COM USD.01 CL A</name>
        <lei>5493006IEVQEFQO40L83</lei>
        <title>COGNIZANT TECHNOLOGY SOLUTIONS CORP COM USD.01 CL A</title>
        <cusip>192446102</cusip>
        <identifiers>
          <ticker value="CTSH"/>
          <other otherDesc="Internal Identifier" value="203677"/>
        </identifiers>
        <balance>1124900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69766298.00000000</valUSD>
        <pctVal>1.620479216320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB CO COM USD0.1</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIBB CO COM USD0.1</title>
        <cusip>110122108</cusip>
        <identifiers>
          <ticker value="BMY"/>
          <other otherDesc="Internal Identifier" value="8104"/>
        </identifiers>
        <balance>-48200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-3093958.00000000</valUSD>
        <pctVal>-0.07186413467</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLAINS ALL AMERICAN PIPELINE LP MLP USD NPV</name>
        <lei>5521FA2ITF25TVH63740</lei>
        <title>PLAINS ALL AMERICAN PIPELINE LP MLP USD NPV</title>
        <cusip>726503105</cusip>
        <identifiers>
          <ticker value="PAA"/>
          <other otherDesc="Internal Identifier" value="210279"/>
        </identifiers>
        <balance>199100.00000000</balance>
        <units>OU</units>
        <descOthUnits>Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>3661449.00000000</valUSD>
        <pctVal>0.085045389768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Frontier Communications Corp 8% 04/01/2027 144A</name>
        <lei>549300ZCZ76HYCS0H445</lei>
        <title>Frontier Communications Corp 8% 04/01/2027 144A</title>
        <cusip>35906ABC1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="969368"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20937000.00000000</valUSD>
        <pctVal>0.486308924577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</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>IHEARTMEDIA INC WTS EXP 05/01/2039</name>
        <lei>N/A</lei>
        <title>IHEARTMEDIA INC WTS EXP 05/01/2039</title>
        <cusip>45174J145</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="980498"/>
        </identifiers>
        <balance>1872.00000000</balance>
        <units>OU</units>
        <descOthUnits>Warrants</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>31634.93000000</valUSD>
        <pctVal>0.000734792414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="WARRANTS TO EQUITY"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12578522375122"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>23402852.34000000</valUSD>
        <pctVal>0.543583892319</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>23402852.34000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>20489905.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>402329.91</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iHeartCommunications Inc 4.75% 01/15/2028 144A</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>iHeartCommunications Inc 4.75% 01/15/2028 144A</title>
        <cusip>45174HBG1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1024224"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25604250.00000000</valUSD>
        <pctVal>0.594716305206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12672622600929"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>315595.55000000</valUSD>
        <pctVal>0.007330416608</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>315595.55000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>281822.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-757.95</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZAYO GROUP LLC/ZAYO CAPITAL INC 5.75% 01/15/2027 144A</name>
        <lei>N/A</lei>
        <title>ZAYO GROUP LLC/ZAYO CAPITAL INC 5.75% 01/15/2027 144A</title>
        <cusip>989194AP0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="657963"/>
        </identifiers>
        <balance>9923000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10112504.49000000</valUSD>
        <pctVal>0.234885665726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>N/A</name>
        <lei>N/A</lei>
        <title>KRW_USD_20200117</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12801423014074"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>422514.33000000</valUSD>
        <pctVal>0.009813845796</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>488257140.00000000</amtCurSold>
            <curSold>KRW</curSold>
            <amtCurPur>421547.28000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-17</settlementDt>
            <unrealizedAppr>967.05</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clear Channel Outdoor Holdings Inc COM USD 1</name>
        <lei>N/A</lei>
        <title>Clear Channel Outdoor Holdings Inc COM USD 1</title>
        <cusip>18453H106</cusip>
        <identifiers>
          <ticker value="CCO"/>
          <other otherDesc="Internal Identifier" value="979712"/>
        </identifiers>
        <balance>16963460.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48515495.60000000</valUSD>
        <pctVal>1.126881525078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_KRW_20200515</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12727222806439"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>16833993.33000000</valUSD>
        <pctVal>0.391007364600</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>16833993.33000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>19481138785.00000000</amtCurPur>
            <curPur>KRW</curPur>
            <settlementDt>2020-05-15</settlementDt>
            <unrealizedAppr>-89285.83</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEE ENTERPRISES INC COM USD.01</name>
        <lei>N/A</lei>
        <title>LEE ENTERPRISES INC COM USD.01</title>
        <cusip>523768109</cusip>
        <identifiers>
          <ticker value="LEE"/>
          <other otherDesc="Internal Identifier" value="203705"/>
        </identifiers>
        <balance>3245968.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4609274.56000000</valUSD>
        <pctVal>0.107060770614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EUR_USD_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12621722477201"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>179725.95000000</valUSD>
        <pctVal>0.004174539497</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>160108.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>181309.50000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-1583.55</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;G PLC ORD GBP.05</name>
        <lei>254900TWUJUQ44TQJY84</lei>
        <title>M&amp;G PLC ORD GBP.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BKFB1C65"/>
          <other otherDesc="Internal Identifier" value="1016622"/>
        </identifiers>
        <balance>13937492.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76315490"/>
        <valUSD>43785960.17000000</valUSD>
        <pctVal>1.017027425220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LTD SPONSORED ADR</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDING LTD SPONSORED ADR</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <ticker value="BABA"/>
          <other otherDesc="Internal Identifier" value="585759"/>
        </identifiers>
        <balance>-32000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-6787200.00000000</valUSD>
        <pctVal>-0.15764798838</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12578622375129"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>23402750.73000000</valUSD>
        <pctVal>0.543581532199</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORP</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
            </counterparties>
            <amtCurSold>23402750.73000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>20489905.73000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>402227.49</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_EUR_20200115</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12665322576230"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>415719.86000000</valUSD>
        <pctVal>0.009656028945</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>415719.86000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>372218.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2020-01-15</settlementDt>
            <unrealizedAppr>-2105.82</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Envista Holdings Corp COM USD 1</name>
        <lei>549300BX623VURJZ5269</lei>
        <title>Envista Holdings Corp COM USD 1</title>
        <cusip>29415F104</cusip>
        <identifiers>
          <ticker value="NVST"/>
          <other otherDesc="Internal Identifier" value="1010597"/>
        </identifiers>
        <balance>721049.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21371892.36000000</valUSD>
        <pctVal>0.496410277965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO COM USD.1666</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO COM USD.1666</title>
        <cusip>949746101</cusip>
        <identifiers>
          <ticker value="WFC"/>
          <other otherDesc="Internal Identifier" value="20314"/>
        </identifiers>
        <balance>189200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10178960.00000000</valUSD>
        <pctVal>0.236429244443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USD_GBP_20200522</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="12778522938540"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>798562.88000000</valUSD>
        <pctVal>0.018548419323</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="cash or currency" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>798562.88000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>604253.18000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2020-05-22</settlementDt>
            <unrealizedAppr>-4842.42</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRONTIER COMMUNICATIONS CORP 11.00% 09/15/2025</name>
        <lei>549300ZCZ76HYCS0H445</lei>
        <title>FRONTIER COMMUNICATIONS CORP 11.00% 09/15/2025</title>
        <cusip>35906AAZ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="635550"/>
        </identifiers>
        <balance>41812000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20383350.00000000</valUSD>
        <pctVal>0.473449157843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.00000000</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>IHEARTCOMMUNICATIONS INC ESRW USD NPV REF SM# 567408</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>IHEARTCOMMUNICATIONS INC ESRW USD NPV REF SM# 567408</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="981198"/>
        </identifiers>
        <balance>14995597.80000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <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>2020-01-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
