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        <name>WP Carey Inc</name>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <name>Tanger Factory Outlet Centers</name>
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        <name>Kungsleden AB</name>
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        <name>LONDON CLEARING HOUSE</name>
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        <name>Cofinimmo SA</name>
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        <name>Daiwa Office Investment Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS &amp; CO LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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      <invstOrSec>
        <name>REALKREDIT DANMARK</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark A/S</title>
        <cusip>000000000</cusip>
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          <isin value="DK0009292559"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NewRiver REIT PLC</name>
        <lei>2138004GX1VAUMH66L31</lei>
        <title>NewRiver REIT PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BD7XPJ64"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <balance>1.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Park Hotels &amp; Resorts Inc</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31410LTW2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Rural Funds Group</name>
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        <name>NYKREDIT REALKREDIT AS</name>
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        <name>Starwood Commercial Mortgage T</name>
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        <name>Highwoods Properties Inc</name>
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        <name>CHICAGO BOARD OF TRADE</name>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Katitas Co Ltd</name>
        <lei>N/A</lei>
        <title>Katitas Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3932950003"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ING BANK NV</name>
        <lei>3TK20IVIUJ8J3ZU0QE75</lei>
        <title>ING Bank NV</title>
        <cusip>44986L2A6</cusip>
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          <isin value="US44986L2A69"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital &amp; Counties Properties</name>
        <lei>549300TTXXZ1SHUI0D54</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JBG SMITH Properties</name>
        <lei>N/A</lei>
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        <cusip>46590V100</cusip>
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          <isin value="US46590V1008"/>
          <ticker value="JBGS"/>
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        <balance>6514.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORDEA KREDIT REALKREDIT</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
        <cusip>000000000</cusip>
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          <isin value="DK0002044551"/>
          <other otherDesc="SEDOL" value="BK99HJ5"/>
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        <balance>3870317.91000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.73790000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>EUREX CLEARING AG</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO-SCHATZ</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="DUH0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00PD5Z8V8"/>
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        <balance>-107.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
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        <pctVal>-0.00281651237</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>BUNDESSCHATZANWEISUNGEN</issuerName>
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                  <cusip value="000000000"/>
                  <isin value="DE0001104784"/>
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            <expDate>2020-03-06</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Prime Realty Investment</name>
        <lei>353800NJOQJAY1ODEX72</lei>
        <title>Japan Prime Realty Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3040890000"/>
          <ticker value="8955"/>
          <other otherDesc="SEDOL" value="6528175"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National Retail Properties Inc</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>National Retail Properties Inc</title>
        <cusip>637417106</cusip>
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          <isin value="US6374171063"/>
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        <balance>9051.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Towd Point Mortgage Funding</name>
        <lei>635400655NWVVZHH1395</lei>
        <title>Towd Point Mortgage Funding 2019 - Granite4 PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS1968576568"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
        <lei>4PQUHN3JPFGFNF3BB653</lei>
        <title>IRS EUR</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWU02T91M"/>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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        <title>US LONG BOND</title>
        <cusip>000000000</cusip>
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          <ticker value="USH0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00PF52DS5"/>
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        <balance>-11.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-47223.53000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>US TREASURY N/B</issuerName>
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            <expDate>2020-03-20</expDate>
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        <name>TSY INFL IX N/B</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Equinix Inc</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
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        <name>Shaftesbury PLC</name>
        <lei>213800N7LHKFNTDKAT98</lei>
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        <name>Suntec REIT</name>
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        <title>Suntec Real Estate Investment Trust</title>
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        <name>HSBC SECURITIES (USA) INC.</name>
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        <name>GLP J-Reit</name>
        <lei>353800E27V9KA51K2I90</lei>
        <title>GLP J-Reit</title>
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          <isin value="JP3047510007"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS INC.</name>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
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              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
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            <repurchaseCollateral>
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              <invstCat>UST</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="846872.00000000" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>SITE Centers Corp</name>
        <lei>W2AVA6SODOQ1LCYJQR54</lei>
        <title>SITE Centers Corp</title>
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          <isin value="US82981J1097"/>
          <ticker value="SITC"/>
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        <balance>7871.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BMO Commercial Property Trust</name>
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          <isin value="GG00B4ZPCJ00"/>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>GG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Diversified Healthcare Trust</name>
        <lei>N/A</lei>
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          <isin value="US25525P1075"/>
          <ticker value="DHC"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>STAG Industrial Inc</name>
        <lei>549300QWYX2W6FASVQ07</lei>
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          <isin value="US85254J1025"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Entra ASA</name>
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        <title>Entra ASA</title>
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          <isin value="NO0010716418"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00343706"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5005.26000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK NA</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hulic Co Ltd</name>
        <lei>N/A</lei>
        <title>Hulic Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3360800001"/>
          <ticker value="3003"/>
          <other otherDesc="SEDOL" value="6805317"/>
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        <balance>22300.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
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        <pctVal>0.082942913836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>XYMAX REIT INVESTMENT COR</name>
        <lei>N/A</lei>
        <title>XYMAX REIT INVESTMENT COR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3048690006"/>
          <ticker value="3488"/>
          <other otherDesc="SEDOL" value="BD0G2B3"/>
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        <balance>19.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunstone Hotel Investors Inc</name>
        <lei>529900ZQ2V52V96ATF67</lei>
        <title>Sunstone Hotel Investors Inc</title>
        <cusip>867892101</cusip>
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          <isin value="US8678921011"/>
          <ticker value="SHO"/>
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        <balance>15597.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197769.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Frontier Real Estate Investmen</name>
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        <title>Frontier Real Estate Investment Corp</title>
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          <isin value="JP3046200006"/>
          <ticker value="8964"/>
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        <balance>5.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>US CPI URBAN CONSUMERS NSA</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN CHASE BANK NA</name>
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        <name>UDR Inc</name>
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      <invstOrSec>
        <name>Sekisui House Reit Inc</name>
        <lei>N/A</lei>
        <title>Sekisui House Reit Inc</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EastGroup Properties Inc</name>
        <lei>31TIGQQZC4P6JMHKSW85</lei>
        <title>EastGroup Properties Inc</title>
        <cusip>277276101</cusip>
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          <ticker value="EGP"/>
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        <balance>1266.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vanguard Global ex-U.S. Real Estate ETF</name>
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        <title>Vanguard Global ex-U.S. Real Estate ETF</title>
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          <ticker value="VNQI"/>
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        <balance>827000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47560770.00000000</valUSD>
        <pctVal>14.59000419708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <title>IRS ILS</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Airport City Ltd</name>
        <lei>N/A</lei>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mapletree Logistics Trust</name>
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        <title>Mapletree Logistics Trust</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SCHWAB U.S. REIT ETF</name>
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        <title>SCHWAB US REIT ETF</title>
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          <isin value="US8085248479"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ARGENT LETRAS DEL TESORO</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>Argentina Treasury Bill</title>
        <cusip>000000000</cusip>
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          <isin value="ARARGE5208A4"/>
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        <balance>680000.00000000</balance>
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        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ryman Hospitality Properties I</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties Inc</title>
        <cusip>78377T107</cusip>
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          <isin value="US78377T1079"/>
          <ticker value="RHP"/>
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        <balance>2319.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Growthpoint Properties Austral</name>
        <lei>529900VCPJ9IEDF4TJ03</lei>
        <title>Growthpoint Properties Australia Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000GOZ8"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Camden Property Trust</name>
        <lei>5493002MYX22OHYJBD89</lei>
        <title>Camden Property Trust</title>
        <cusip>133131102</cusip>
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          <isin value="US1331311027"/>
          <ticker value="CPT"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOSEI REIT INVESTMENT COR</name>
        <lei>N/A</lei>
        <title>TOSEI REIT INVESTMENT COR</title>
        <cusip>000000000</cusip>
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          <isin value="JP3047830009"/>
          <ticker value="3451"/>
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        <balance>15.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Merlin Properties Socimi SA</name>
        <lei>959800L8KD863DP30X04</lei>
        <title>Merlin Properties Socimi SA</title>
        <cusip>000000000</cusip>
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          <isin value="ES0105025003"/>
          <ticker value="MRL"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Douglas Emmett Inc</name>
        <lei>N/A</lei>
        <title>Douglas Emmett Inc</title>
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          <ticker value="DEI"/>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS IFS GBP</title>
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          <other otherDesc="Internal" value="SWU0SF94M"/>
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        <name>American Assets Trust Inc</name>
        <lei>N/A</lei>
        <title>American Assets Trust Inc</title>
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          <isin value="US0240131047"/>
          <ticker value="AAT"/>
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        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>912810PS1</cusip>
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          <isin value="US912810PS15"/>
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        <name>Four Corners Property Trust In</name>
        <lei>549300SVTPZPBDVNER42</lei>
        <title>Four Corners Property Trust Inc</title>
        <cusip>35086T109</cusip>
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          <isin value="US35086T1097"/>
          <ticker value="FCPT"/>
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        <name>NSI NV</name>
        <lei>724500I77C30W2LZZJ03</lei>
        <title>NSI NV</title>
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        <name>Heiwa Real Estate REIT Inc</name>
        <lei>N/A</lei>
        <title>Heiwa Real Estate REIT Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Urban &amp; Civic PLC</name>
        <lei>213800WL3TK2BJGFCY44</lei>
        <title>Urban &amp; Civic PLC</title>
        <cusip>000000000</cusip>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JAPAN GOVT CPI LINKED</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japanese Government CPI Linked Bond</title>
        <cusip>000000000</cusip>
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          <isin value="JP1120231J51"/>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Champion REIT</name>
        <lei>N/A</lei>
        <title>Champion REIT</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Venture CDO Ltd</name>
        <lei>549300C7PSULF5Z6ZE61</lei>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-28</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Klovern AB</name>
        <lei>549300D4GJAZR1EMIA07</lei>
        <title>Klovern AB</title>
        <cusip>000000000</cusip>
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          <isin value="SE0006593919"/>
          <ticker value="KLOVB"/>
          <other otherDesc="SEDOL" value="BTJR9M9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kenedix Office Investment Corp</name>
        <lei>353800FFT483NCIHFY42</lei>
        <title>Kenedix Office Investment Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046270009"/>
          <ticker value="8972"/>
          <other otherDesc="SEDOL" value="B0C5Q59"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gladstone Commercial Corp</name>
        <lei>529900EVVV534W8R0T32</lei>
        <title>Gladstone Commercial Corp</title>
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          <isin value="US3765361080"/>
          <ticker value="GOOD"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vastned Retail NV</name>
        <lei>724500GTYRJW5W85PN10</lei>
        <title>Vastned Retail NV</title>
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          <isin value="NL0000288918"/>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <title>IRS USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWU0C849M"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Extra Space Storage Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Equity Residential</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>Equity Residential</title>
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          <isin value="US29476L1070"/>
          <ticker value="EQR"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Kerry Properties Ltd</name>
        <lei>5299006T5ULIIRZ7LK49</lei>
        <title>Kerry Properties Ltd</title>
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          <isin value="BMG524401079"/>
          <ticker value="683"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nomura Real Estate Holdings In</name>
        <lei>N/A</lei>
        <title>Nomura Real Estate Holdings Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3762900003"/>
          <ticker value="3231"/>
          <other otherDesc="SEDOL" value="B1CWJM5"/>
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        <balance>9000.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SAMTY Co Ltd</name>
        <lei>N/A</lei>
        <title>SAMTY Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3322970009"/>
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          <other otherDesc="SEDOL" value="B1Z83H3"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Segro PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Paramount Group Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                  <derivAddlInfo>
                    <name>BARCLAYS BANK PLC</name>
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                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
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                  <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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                  <curCd>N/A</curCd>
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            <delta>XXXX</delta>
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      </invstOrSec>
      <invstOrSec>
        <name>PSP Swiss Property AG</name>
        <lei>50670042Y437P8X44F56</lei>
        <title>PSP Swiss Property AG</title>
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          <isin value="CH0018294154"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
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        <curCd>USD</curCd>
        <valUSD>260030.43000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>iShares Gold Trust</name>
        <lei>5493006UOY7GXQW0IP42</lei>
        <title>iShares Gold Trust</title>
        <cusip>464285105</cusip>
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          <isin value="US4642851053"/>
          <ticker value="IAU"/>
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        <balance>445000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6750650.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Goodman Property Trust</name>
        <lei>N/A</lei>
        <title>Goodman Property Trust</title>
        <cusip>000000000</cusip>
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          <isin value="NZCPTE0001S9"/>
          <ticker value="GMT"/>
          <other otherDesc="SEDOL" value="6299192"/>
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        <balance>95209.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AUSTRALIAN SECURITIES EXCHANGE TRADE24</name>
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        <title>10 YEAR COMMONWEALTH TREASURY BOND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="XMH0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00Q98VZZ5"/>
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        <balance>-1.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.49388000"/>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
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                <issuerName>AUSTRALIAN GOVERNMENT</issuerName>
                <issueTitle>Australia Government Bond</issueTitle>
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                  <isin value="AU0000XCLWP8"/>
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            <expDate>2020-03-16</expDate>
            <notionalAmt>-97440.01000000</notionalAmt>
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      </invstOrSec>
      <invstOrSec>
        <name>J.P. MORGAN CHASE BANK NA</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>SWOP CDS ITRAXX.EU.32.V1</title>
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        <assetCat>DCR</assetCat>
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        <invCountry>US</invCountry>

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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                    <name>J.P. MORGAN CHASE BANK NA</name>
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                      <issuerName>IHS MARKIT LTD</issuerName>
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      <invstOrSec>
        <name>Hang Lung Properties Ltd</name>
        <lei>529900CIVTNMXQT59E61</lei>
        <title>Hang Lung Properties Ltd</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LoanCore 2019-CRE2 Issuer, Ltd</name>
        <lei>N/A</lei>
        <title>LoanCore 2019-CRE2 Issuer Ltd</title>
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        <identifiers>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Retail Opportunity Investments</name>
        <lei>N/A</lei>
        <title>Retail Opportunity Investments Corp</title>
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          <ticker value="ROIC"/>
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        <curCd>USD</curCd>
        <valUSD>149146.57000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Nomura Home Equity Loan Inc</name>
        <lei>N/A</lei>
        <title>Nomura Home Equity Loan Inc Home Equity Loan Trust Series 2006-WF1</title>
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        <identifiers>
          <isin value="US65536RAF38"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189744.33000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Columbia Property Trust Inc</name>
        <lei>549300J5GYF2C9BGCC39</lei>
        <title>Columbia Property Trust Inc</title>
        <cusip>198287203</cusip>
        <identifiers>
          <isin value="US1982872038"/>
          <ticker value="CXP"/>
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        <balance>8546.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180320.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Star Mica Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Star Mica Holdings Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3399340003"/>
          <ticker value="2975"/>
          <other otherDesc="SEDOL" value="BJXRGM4"/>
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        <balance>2000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>AUSTRALIAN SECURITIES EXCHANGE TRADE24</name>
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          <ticker value="YMH0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00Q98W018"/>
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        <balance>-2.00000000</balance>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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                <issuerName>AUSTRALIAN GOVERNMENT</issuerName>
                <issueTitle>Australia Government Bond</issueTitle>
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                  <other otherDesc="SEDOL" value="B5SRJW2"/>
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            <expDate>2020-03-16</expDate>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gaming and Leisure Properties</name>
        <lei>5493006GWRDBCZYWTM57</lei>
        <title>Gaming and Leisure Properties Inc</title>
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        <name>TSY INFL IX N/B</name>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>912810SB5</cusip>
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          <isin value="US912810SB52"/>
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      <invstOrSec>
        <name>Getty Realty Corp</name>
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          <isin value="JP3047160001"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BARCLAYS BANK PLC</name>
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        <cusip>000000000</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Brixmor Property Group Inc</name>
        <lei>5299007UXW6Y0W2EGZ95</lei>
        <title>Brixmor Property Group Inc</title>
        <cusip>11120U105</cusip>
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          <isin value="US11120U1051"/>
          <ticker value="BRX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sound Point CLO LTD</name>
        <lei>549300TT7IR66ASPWY89</lei>
        <title>Sound Point Clo XIV Ltd</title>
        <cusip>83609NAL4</cusip>
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          <isin value="US83609NAL47"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>ADLER Real Estate AG</name>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <name>Investors Real Estate Trust</name>
        <lei>5493002LG2SH9EEHT720</lei>
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        <name>NEW ZEALAND GVT ILB</name>
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        <name>GOLDMAN SACHS &amp; CO LLC</name>
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        <title>IRS ILS</title>
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        <name>Rexford Industrial Realty Inc</name>
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        <name>Wihlborgs Fastigheter AB</name>
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        <name>Howard Hughes Corp/The</name>
        <lei>549300BVHY25JZC1KI49</lei>
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        <name>LEG Immobilien AG</name>
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        <name>Wheelock &amp; Co Ltd</name>
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        <name>Vonovia SE</name>
        <lei>5299005A2ZEP6AP7KM81</lei>
        <title>Vonovia SE</title>
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      </invstOrSec>
      <invstOrSec>
        <name>CK Asset Holdings Ltd</name>
        <lei>5299006GJZSGP78B8S35</lei>
        <title>CK Asset Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KYG2177B1014"/>
          <ticker value="1113"/>
          <other otherDesc="SEDOL" value="BYZQ077"/>
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        <balance>134000.00000000</balance>
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        <pctVal>0.262628020774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Choice Properties Real Estate</name>
        <lei>N/A</lei>
        <title>Choice Properties Real Estate Investment Trust</title>
        <cusip>17039A106</cusip>
        <identifiers>
          <isin value="CA17039A1066"/>
          <ticker value="CHP-U"/>
          <other otherDesc="SEDOL" value="BBX46Q3"/>
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        <balance>12370.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>136655.13000000</valUSD>
        <pctVal>0.041921081602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Link REIT</name>
        <lei>529900XUE70U36QX5M62</lei>
        <title>Link REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0823032773"/>
          <ticker value="823"/>
          <other otherDesc="SEDOL" value="B0PB4M7"/>
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        <balance>120500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>1218558.15000000</valUSD>
        <pctVal>0.373811620856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nomura Real Estate Master Fund</name>
        <lei>353800TNNZOQ1CPZE086</lei>
        <title>Nomura Real Estate Master Fund Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3048110005"/>
          <ticker value="3462"/>
          <other otherDesc="SEDOL" value="BYSJJF4"/>
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        <balance>253.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NYKREDIT REALKREDIT AS</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
        <title>Nykredit Realkredit A/S</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0009798803"/>
          <other otherDesc="SEDOL" value="BQZHSL4"/>
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        <balance>43109.77000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.73790000"/>
        <valUSD>6722.81000000</valUSD>
        <pctVal>0.002062326285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Grand City Properties SA</name>
        <lei>5299002QLUYKK2WBMB18</lei>
        <title>Grand City Properties SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU0775917882"/>
          <ticker value="GYC"/>
          <other otherDesc="SEDOL" value="B8K9X70"/>
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        <balance>3165.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lexington Realty Trust</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>Lexington Realty Trust</title>
        <cusip>529043101</cusip>
        <identifiers>
          <isin value="US5290431015"/>
          <ticker value="LXP"/>
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        <balance>13070.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144684.90000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STORE Capital Corp</name>
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        <title>STORE Capital Corp</title>
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          <isin value="US8621211007"/>
          <ticker value="STOR"/>
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        <balance>11268.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>442269.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>True North Commercial Real Est</name>
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          <isin value="CA89784Y2096"/>
          <ticker value="TNT-U"/>
          <other otherDesc="SEDOL" value="BBN5Y95"/>
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        <balance>3946.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS IFS GBP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="SWU0JD56M"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Tritax Big Box REIT PLC</name>
        <lei>213800L6X88MIYPVR714</lei>
        <title>Tritax Big Box REIT PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BG49KP99"/>
          <ticker value="BBOX"/>
          <other otherDesc="SEDOL" value="BG49KP9"/>
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        <balance>82699.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hongkong Land Holdings Ltd</name>
        <lei>213800XCHYNRPAYGXW28</lei>
        <title>Hongkong Land Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG4587L1090"/>
          <ticker value="HKL"/>
          <other otherDesc="SEDOL" value="6434915"/>
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        <balance>44000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>233550.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>912810PZ5</cusip>
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          <isin value="US912810PZ57"/>
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        <curCd>USD</curCd>
        <valUSD>2804142.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cedar Woods Properties Ltd</name>
        <lei>N/A</lei>
        <title>Cedar Woods Properties Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CWP1"/>
          <ticker value="CWP"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sun Hung Kai Properties Ltd</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>Sun Hung Kai Properties Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="HK0016000132"/>
          <ticker value="16"/>
          <other otherDesc="SEDOL" value="6859927"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>St Modwen Properties PLC</name>
        <lei>213800WMV4WVES8TQH05</lei>
        <title>St Modwen Properties PLC</title>
        <cusip>000000000</cusip>
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          <ticker value="SMP"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <title>CURRENCY CONTRACT - TWD</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTTWD__00346899"/>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>9128283R9</cusip>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sella Capital Real Estate Ltd</name>
        <lei>N/A</lei>
        <title>Sella Capital Real Estate Ltd</title>
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          <ticker value="SLARL"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ascott Residence Trust</name>
        <lei>549300W6RTG7Y32IWY65</lei>
        <title>Ascott Residence Trust</title>
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        <name>TSY INFL IX N/B</name>
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        <name>Farmland Partners Inc</name>
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        <name>Lar Espana Real Estate Socimi</name>
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        <name>Cedar Realty Trust Inc</name>
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        <name>One REIT Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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      <invstOrSec>
        <name>CITIBANK N.A.</name>
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        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS USD</title>
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        <name>EUREX CLEARING AG</name>
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      <invstOrSec>
        <name>Brandywine Realty Trust</name>
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      <invstOrSec>
        <name>Omega Healthcare Investors Inc</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>UNICREDIT SPA</name>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK NA</name>
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        <name>Saul Centers Inc</name>
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        <name>BONOS DE TESORERIA</name>
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        <title>Peru Government Bond</title>
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        <invCountry>PE</invCountry>
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        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS GBP</title>
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        <name>Apple Hospitality REIT Inc</name>
        <lei>549300EVZAR0FBZO4F16</lei>
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        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS EUR</title>
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        <name>HSBC BANK USA, N.A.</name>
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        <name>Mack-Cali Realty Corp</name>
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        <name>Bluerock Residential Growth RE</name>
        <lei>549300KWLV0TGICOUU26</lei>
        <title>Bluerock Residential Growth REIT Inc</title>
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      <invstOrSec>
        <name>APN INDUSTRIA REIT</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Inmobiliaria Colonial Socimi S</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>J.P. MORGAN CHASE BANK NA</name>
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        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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      <invstOrSec>
        <name>CITIBANK N.A.</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK N.A.</counterpartyName>
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      <invstOrSec>
        <name>Preferred Apartment Communitie</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Japan Hotel REIT Investment Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Welltower Inc</name>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Host Hotels &amp; Resorts Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <identifiers>
          <ticker value="N/A"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vital Healthcare Property Trus</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <name>Fannie Mae or Freddie Mac</name>
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        <name>Service Properties Trust</name>
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      <invstOrSec>
        <name>Universal Health Realty Income</name>
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          <isin value="US91359E1055"/>
          <ticker value="UHT"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Starts Proceed Investment Corp</name>
        <lei>N/A</lei>
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          <isin value="JP3046340000"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Duke Realty Corp</name>
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          <isin value="US2644115055"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Crown Point CLO Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Prosperity REIT</name>
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          <isin value="HK0808032913"/>
          <ticker value="808"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS USD</title>
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          <other otherDesc="INTERNAL" value="SWU00OB9M"/>
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        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>Mitsubishi Estate Co Ltd</name>
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          <isin value="JP3899600005"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aroundtown SA</name>
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        <cusip>000000000</cusip>
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          <isin value="LU1673108939"/>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Derwent London PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chip Eng Seng Corp Ltd</name>
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        <title>Chip Eng Seng Corp Ltd</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Japan Rental Housing Investmen</name>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <name>NorthWest Healthcare Propertie</name>
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        <name>BARCLAYS BANK PLC</name>
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        <title>IRS ILS</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>OOEDO ONSEN REIT INVESTME</name>
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        <name>Reit 1 Ltd</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>Nexity SA</name>
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        <name>CubeSmart</name>
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        <name>Seritage Growth Properties</name>
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        <name>Piedmont Office Realty Trust I</name>
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        <name>LONDON CLEARING HOUSE</name>
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          <ticker value="N/A"/>
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        <curCd>USD</curCd>
        <valUSD>-5.92000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>CITIBANK N.A.</counterpartyName>
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            <amtCurSold>-921.32000000</amtCurSold>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Hysan Development Co Ltd</name>
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        <cusip>000000000</cusip>
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          <isin value="HK0014000126"/>
          <ticker value="14"/>
          <other otherDesc="SEDOL" value="6449629"/>
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        <balance>11001.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Digital Realty Trust Inc</name>
        <lei>549300HKCZ31D08NEI41</lei>
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          <isin value="US2538681030"/>
          <ticker value="DLR"/>
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        <balance>11479.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="703379.81000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>InterRent Real Estate Investme</name>
        <lei>N/A</lei>
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          <isin value="CA46071W2058"/>
          <ticker value="IIP-U"/>
          <other otherDesc="SEDOL" value="B1L9R12"/>
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        <balance>6334.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pennsylvania Real Estate Inves</name>
        <lei>5493001GPBXRIG8WJO70</lei>
        <title>Pennsylvania Real Estate Investment Trust</title>
        <cusip>709102107</cusip>
        <identifiers>
          <isin value="US7091021078"/>
          <ticker value="PEI"/>
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        <balance>3915.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15425.10000000</valUSD>
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        <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>
          <loanByFundCondition isLoanByFund="Y" loanVal="15425.10000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Urstadt Biddle Properties Inc</name>
        <lei>549300XXD0YL0AER3Z82</lei>
        <title>Urstadt Biddle Properties Inc</title>
        <cusip>917286205</cusip>
        <identifiers>
          <isin value="US9172862057"/>
          <ticker value="UBA"/>
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        <balance>966.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21899.22000000</valUSD>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Assura PLC</name>
        <lei>21380026T19N2Y52XF72</lei>
        <title>Assura PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BVGBWW93"/>
          <ticker value="AGR"/>
          <other otherDesc="SEDOL" value="BVGBWW9"/>
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        <balance>126635.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75729000"/>
        <valUSD>130023.57000000</valUSD>
        <pctVal>0.039886747670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fukuoka REIT Corp</name>
        <lei>N/A</lei>
        <title>Fukuoka REIT Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046240002"/>
          <ticker value="8968"/>
          <other otherDesc="SEDOL" value="B0B8154"/>
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        <balance>12.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>20756.35000000</valUSD>
        <pctVal>0.006367332438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hawksmoor Mortgages plc</name>
        <lei>N/A</lei>
        <title>Hawksmoor Mortgages</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2033256145"/>
          <other otherDesc="Internal" value="BCC2KP4M6"/>
        </identifiers>
        <balance>287501.54820000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75729000"/>
        <valUSD>381951.59000000</valUSD>
        <pctVal>0.117169576968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.76099000</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>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS CMBX.NA.AAA.8</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWPC0BLE0"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4292.65000000</valUSD>
        <pctVal>0.001316836996</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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              <otherRefInst>
                <issuerName>IHS MARKIT LTD</issuerName>
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                  <other otherDesc="INTERNAL" value="137BENAH9_SWAP_US"/>
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              </otherRefInst>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.50000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2057-10-17</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-18899.53000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-400000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>23192.18000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>SWOP CDS ITRAXX.EU.32.V1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="3174589Q2"/>
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        <balance>-100000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
        <valUSD>-4.08000000</valUSD>
        <pctVal>-0.00000125160</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                    <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>BARCLAYS BANK PLC</name>
                    <lei>G5GSEF7VJP5I7OUK5573</lei>
                    <title>CDS ITRAXX.EU.32.V1</title>
                    <cusip>000000000</cusip>
                    <identifiers>
                      <other otherDesc="INTERNAL" value="3174589Q2SO"/>
                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="EUR" exchangeRt="0.00000000"/>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DCR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>GB</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
                      <issueTitle>ITRAXX.EU.31.V1</issueTitle>
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                        <cusip value="000000000"/>
                        <other otherDesc="INTERNAL" value="2I666VCV5_INDEX_EU"/>
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                  <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
                  <fixedPmntDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
                  <terminationDt>2024-12-20</terminationDt>
                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>N/A</notionalAmt>
                  <curCd>N/A</curCd>
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            </descRefInstrmnt>
            <principalAmt>0.01000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>0.80000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2020-02-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>196.75000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>SWOP CDS ITRAXX.EU.32.V1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="3175499Z8"/>
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        <balance>-200000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
        <valUSD>-26.88000000</valUSD>
        <pctVal>-0.00000824585</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                  <derivAddlInfo>
                    <name>GOLDMAN SACHS INTERNATIONAL</name>
                    <lei>W22LROWP2IHZNBB6K528</lei>
                    <title>CDS ITRAXX.EU.32.V1</title>
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                    <invCountry>GB</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
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                        <other otherDesc="INTERNAL" value="2I666VCV5_INDEX_EU"/>
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                  <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
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                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>N/A</curCd>
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            <delta>XXXX</delta>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Global One Real Estate Investm</name>
        <lei>N/A</lei>
        <title>Global One Real Estate Investment Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3044520009"/>
          <ticker value="8958"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CURRENCY CONTRACT - USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00351786"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK N.A.</counterpartyName>
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            <amtCurPur>1279220.78000000</amtCurPur>
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            <settlementDt>2020-02-04</settlementDt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chatham Lodging Trust</name>
        <lei>N/A</lei>
        <title>Chatham Lodging Trust</title>
        <cusip>16208T102</cusip>
        <identifiers>
          <isin value="US16208T1025"/>
          <ticker value="CLDT"/>
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        <balance>5297.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86605.95000000</valUSD>
        <pctVal>0.026567719025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>TSY INFL IX N/B</name>
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      <invstOrSec>
        <name>Whitestone REIT</name>
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      <invstOrSec>
        <name>Cromwell Property Group</name>
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        <name>K. WAH INT'L</name>
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        <name>Star Asia Investment Corp</name>
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        <name>Retail Properties of America I</name>
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        <name>BANK OF AMERICA, N.A.</name>
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        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS GBP</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TSY INFL IX N/B</name>
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        <title>United States Treasury Inflation Indexed Bonds</title>
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        <name>Ascendas Real Estate Investmen</name>
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        <name>JYSKE REALKREDIT A/S</name>
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        <name>WAMU Mortgage Pass-Through Cer</name>
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        <name>LONDON CLEARING HOUSE</name>
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        <name>Scentre Group</name>
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        <name>Industrial &amp; Infrastructure Fu</name>
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        <name>TSY INFL IX N/B</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Charter Hall Retail REIT</name>
        <lei>N/A</lei>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan Retail Fund Investment C</name>
        <lei>353800QDHNIP60E1LQ93</lei>
        <title>Japan Retail Fund Investment Corp</title>
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          <isin value="JP3039710003"/>
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        <name>Aeon Mall Co Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Daibiru Corp</name>
        <lei>N/A</lei>
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          <isin value="JP3497200000"/>
          <ticker value="8806"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ozlme</name>
        <lei>7245005PU4T31PXX6910</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS2038485285"/>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Gladstone Land Corp</name>
        <lei>54930002B3Q17H38FG74</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <title>IRS USD</title>
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        <name>Kenedix Retail REIT Corp</name>
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        <name>TSY INFL IX N/B</name>
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        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ICHIGO HOTEL REIT INVESTM</name>
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        <title>ICHIGO HOTEL REIT INVESTM</title>
        <cusip>000000000</cusip>
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          <isin value="JP3048160000"/>
          <ticker value="3463"/>
          <other otherDesc="SEDOL" value="BYQL3F0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Charter Hall Long Wale REIT</name>
        <lei>N/A</lei>
        <title>Charter Hall Long Wale REIT</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CLW0"/>
          <ticker value="CLW"/>
          <other otherDesc="SEDOL" value="BDB46J2"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITE Group PLC/The</name>
        <lei>213800BBUUWVDH9YI827</lei>
        <title>UNITE Group PLC/The</title>
        <cusip>000000000</cusip>
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          <isin value="GB0006928617"/>
          <ticker value="UTG"/>
          <other otherDesc="SEDOL" value="0692861"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS GBP</title>
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          <other otherDesc="INTERNAL" value="SWU0B367M"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75729000"/>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>LONDON CLEARING HOUSE</counterpartyName>
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            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="GBP" fixedOrFloating="Floating" floatingRtIndex="UK RETAIL PRICE INDEX ALL ITEMS MONTHLY" floatingRtSpread="0.00000000" pmntAmt="-640000.00000000">
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            <pmntCurCd>GBP</pmntCurCd>
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            <rcptCurCd>GBP</rcptCurCd>
            <notionalAmt>640000.00000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>39902.56000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
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          <isin value="US912828Q608"/>
          <other otherDesc="Sedol" value="BYY8RP1"/>
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        <balance>2147000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2326175.55000000</valUSD>
        <pctVal>0.713590445185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>SWOP CDS ITRAXX.EU.32.V1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="3175499U9"/>
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        <balance>-100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
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        <pctVal>-0.00000719978</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                    <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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                      <other otherDesc="INTERNAL" value="SW3175499U9SO"/>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
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                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
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                        <cusip value="000000000"/>
                        <other otherDesc="INTERNAL" value="2I666VCV5_INDEX_EU"/>
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                  <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
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                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>N/A</notionalAmt>
                  <curCd>N/A</curCd>
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            <curCd>USD</curCd>
            <exercisePrice>0.70000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2020-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>87.00000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tosei Corp</name>
        <lei>N/A</lei>
        <title>Tosei Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3595070008"/>
          <ticker value="8923"/>
          <other otherDesc="SEDOL" value="6735823"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>S IMMO AG</name>
        <lei>5299001QKV44IT3WPL26</lei>
        <title>S IMMO AG</title>
        <cusip>000000000</cusip>
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          <isin value="AT0000652250"/>
          <ticker value="SPI"/>
          <other otherDesc="SEDOL" value="7390801"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PETROBRAS GLOBAL FINANCE</name>
        <lei>549300FNENFFSMO3GT38</lei>
        <title>Petrobras Global Finance BV</title>
        <cusip>71647NBF5</cusip>
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        <balance>282000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>309805.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Hansteen Holdings PLC</name>
        <lei>2138007274QQL9KBWY58</lei>
        <title>Hansteen Holdings PLC</title>
        <cusip>000000000</cusip>
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          <ticker value="HSTN"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Vicinity Centres</name>
        <lei>N/A</lei>
        <title>Vicinity Centres</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000VCX7"/>
          <ticker value="VCX"/>
          <other otherDesc="SEDOL" value="BY7QXS7"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fabege AB</name>
        <lei>549300JNPI46XNH0PM97</lei>
        <title>Fabege AB</title>
        <cusip>000000000</cusip>
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          <isin value="SE0011166974"/>
          <ticker value="FABG"/>
          <other otherDesc="SEDOL" value="BFM6T36"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CoreCivic Inc</name>
        <lei>529900JFA3K6PTLT8B15</lei>
        <title>CoreCivic Inc</title>
        <cusip>21871N101</cusip>
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          <ticker value="CXW"/>
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        <curCd>USD</curCd>
        <valUSD>128365.60000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Medical Properties Trust Inc</name>
        <lei>254900U6E39J1MQCCY14</lei>
        <title>Medical Properties Trust Inc</title>
        <cusip>58463J304</cusip>
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          <isin value="US58463J3041"/>
          <ticker value="MPW"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Stockland</name>
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        <title>Stockland</title>
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          <ticker value="SGP"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F022634</cusip>
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          <isin value="US01F0226344"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1006640.62000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Braemar Hotels &amp; Resorts Inc</name>
        <lei>549300JDUUEBN868C776</lei>
        <title>Braemar Hotels &amp; Resorts Inc</title>
        <cusip>10482B101</cusip>
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          <isin value="US10482B1017"/>
          <ticker value="BHR"/>
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        <balance>2261.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18042.78000000</valUSD>
        <pctVal>0.005534902734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Euro Galaxy CLO BV</name>
        <lei>724500O6SPJ0UVQ6DN40</lei>
        <title>Euro-Galaxy V CLO BV</title>
        <cusip>000000000</cusip>
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          <isin value="XS2032717865"/>
          <other otherDesc="INTERNAL" value="BCC2KRYR8"/>
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        <balance>250000.00000000</balance>
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        <pctVal>0.085065280268</pctVal>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>0.82000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ LEASE&amp;FIN</name>
        <lei>353800MZ3QX9RLMH7B09</lei>
        <title>Mitsubishi UFJ Lease &amp; Finance Co Ltd</title>
        <cusip>60682LAA0</cusip>
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          <isin value="US60682LAA08"/>
          <other otherDesc="SEDOL" value="BDQZGF6"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>202664.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
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        <title>United States Treasury Inflation Indexed Bonds</title>
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          <isin value="US912828UH11"/>
          <other otherDesc="Sedol" value="B96LV84"/>
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        <balance>2753000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-15</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DREYFUS GOVERNMENT CASH MANAGEMENT</name>
        <lei>549300F7IDB6WRO7VJ11</lei>
        <title>DREYFUS GOVERN CASH MGMT-I</title>
        <cusip>262006208</cusip>
        <identifiers>
          <isin value="US2620062081"/>
          <ticker value="DGCXX"/>
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        <balance>7637365.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7637365.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dream Industrial Real Estate I</name>
        <lei>N/A</lei>
        <title>Dream Industrial Real Estate Investment Trust</title>
        <cusip>26153W109</cusip>
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          <isin value="CA26153W1095"/>
          <ticker value="DIR-U"/>
          <other otherDesc="SEDOL" value="BMH4P92"/>
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        <balance>7428.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>National Storage Affiliates Tr</name>
        <lei>N/A</lei>
        <title>National Storage Affiliates Trust</title>
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          <isin value="US6378701063"/>
          <ticker value="NSA"/>
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        <balance>3129.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Safestore Holdings PLC</name>
        <lei>213800WGA3YSJC1YOH73</lei>
        <title>Safestore Holdings PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1N7Z094"/>
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          <other otherDesc="SEDOL" value="B1N7Z09"/>
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        <balance>15484.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Leopalace21 Corp</name>
        <lei>529900Z3BHJUW1DY6254</lei>
        <title>Leopalace21 Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3167500002"/>
          <ticker value="8848"/>
          <other otherDesc="SEDOL" value="6598424"/>
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        <balance>9900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CapitaLand Commercial Trust</name>
        <lei>5493006N1HMMKB2HAT92</lei>
        <title>CapitaLand Commercial Trust</title>
        <cusip>000000000</cusip>
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          <isin value="SG1P32918333"/>
          <ticker value="CCT"/>
          <other otherDesc="SEDOL" value="B011YD2"/>
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        <balance>146500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Helical PLC</name>
        <lei>2138003SBD2Z7WV2MP70</lei>
        <title>Helical PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B0FYMT95"/>
          <ticker value="HLCL"/>
          <other otherDesc="SEDOL" value="B0FYMT9"/>
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        <balance>12067.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75729000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Big Yellow Group PLC</name>
        <lei>213800W7Q4V2ZI8LIW31</lei>
        <title>Big Yellow Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002869419"/>
          <ticker value="BYG"/>
          <other otherDesc="SEDOL" value="0286941"/>
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        <balance>10056.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75729000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>SWOP CDS ITRAXX.EU.32.V1</title>
        <cusip>000000000</cusip>
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        <balance>-100000.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <putOrCall>Call</putOrCall>
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                    <name>DEUTSCHE BANK AG</name>
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                      <issuerName>IHS MARKIT LTD</issuerName>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
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          <ticker value="N/A"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS EUR</title>
        <cusip>000000000</cusip>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <title>IRS USD</title>
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      <invstOrSec>
        <name>NIPPON REIT Investment Corp</name>
        <lei>3538004O49OJ90PEXX85</lei>
        <title>NIPPON REIT Investment Corp</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Weingarten Realty Investors</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Independence Realty Trust Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ameriquest Mortgage Securities</name>
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          <isin value="US03072SX422"/>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Castellum AB</name>
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        <title>Castellum AB</title>
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          <isin value="SE0000379190"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK N.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS IFS USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal" value="SWU0JD80M"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LXI REIT plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Precinct Properties New Zealan</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>SWOP IRS USD</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Goldcrest Co Ltd</name>
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        <name>DEUTSCHE BANK AG</name>
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        <title>IRS ILS</title>
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        <name>Mitsui Fudosan Co Ltd</name>
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        <name>Office Properties Income Trust</name>
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        <cusip>67623C109</cusip>
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      <invstOrSec>
        <name>CoreSite Realty Corp</name>
        <lei>549300H0YYORITFM2B74</lei>
        <title>CoreSite Realty Corp</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>National Health Investors Inc</name>
        <lei>549300ZPKZIG6DKDEC02</lei>
        <title>National Health Investors Inc</title>
        <cusip>63633D104</cusip>
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          <isin value="US63633D1046"/>
          <ticker value="NHI"/>
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        <balance>2938.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>247908.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RioCan REIT</name>
        <lei>549300S8HVUSEU3JBY60</lei>
        <title>RioCan Real Estate Investment Trust</title>
        <cusip>766910103</cusip>
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          <isin value="CA7669101031"/>
          <ticker value="REI-U"/>
          <other otherDesc="SEDOL" value="2229610"/>
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        <balance>3304.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>J.P. MORGAN CHASE BANK NA</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>IRS ILS</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWU00OE75"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="3.45080000"/>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>J.P. MORGAN CHASE BANK NA</counterpartyName>
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            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>ILS</rcptCurCd>
            <notionalAmt>90000.00000000</notionalAmt>
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            <unrealizedAppr>3307.35000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>Charter Hall Group</name>
        <lei>N/A</lei>
        <title>Charter Hall Group</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CHC0"/>
          <ticker value="CHC"/>
          <other otherDesc="SEDOL" value="B15F6S6"/>
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        <balance>34892.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.49388000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CURRENCY CONTRACT - BRL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTBRL__00349038"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-9291.33000000</valUSD>
        <pctVal>-0.00285025965</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>CITIBANK NA</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <amtCurSold>-173348.13000000</amtCurSold>
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            <amtCurPur>702736.00000000</amtCurPur>
            <curPur>BRL</curPur>
            <settlementDt>2020-02-04</settlementDt>
            <unrealizedAppr>-9291.33000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>IRS USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWU00L7VM"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>49796.59000000</valUSD>
        <pctVal>0.015275876675</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="2.67000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="3 MONTH US DOLLAR LIBOR BBA" floatingRtSpread="0.00000000" pmntAmt="-1000000.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
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            <terminationDt>2023-11-19</terminationDt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>49796.59000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
        <cusip>34540XAB9</cusip>
        <identifiers>
          <isin value="US34540XAB91"/>
          <other otherDesc="SEDOL" value="BJYCNL6"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204094.00000000</valUSD>
        <pctVal>0.062609001422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUREX CLEARING AG</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO-BUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="RXH0P157"/>
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        <balance>10.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
        <valUSD>110.91000000</valUSD>
        <pctVal>0.000034023363</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>EUREX CLEARING AG</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                  <derivAddlInfo>
                    <name>EUREX CLEARING AG</name>
                    <lei>529900LN3S50JPU47S06</lei>
                    <title>EURO-BUND</title>
                    <cusip>000000000</cusip>
                    <identifiers>
                      <ticker value="RXH0"/>
                      <other otherDesc="ID_BB_GLOBAL" value="BBG00PD5Z8R3"/>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="EUR" exchangeRt="0.00000000"/>
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                    <pctVal>0.00000000</pctVal>
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                    <invCountry>DE</invCountry>
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                  <payOffProf>Short</payOffProf>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>BUNDESREPUB. DEUTSCHLAND</issuerName>
                      <issueTitle>Bundesrepublik Deutschland Bundesanleihe</issueTitle>
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                        <cusip value="000000000"/>
                        <isin value="DE0001102440"/>
                        <other otherDesc="SEDOL" value="BFWJL06"/>
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                  </descRefInstrmnt>
                  <expDate>2020-03-06</expDate>
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                  <curCd>USD</curCd>
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            <shareNo>1000.00000000</shareNo>
            <exercisePrice>157.00000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-5.30000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>US CPI URBAN CONSUMERS NSA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="CPURNSA0P234.812"/>
          <other otherDesc="INTERNAL" value="3175RWOP7"/>
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        <balance>-2300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>BUREAU OF LABOR STATISTICS</issuerName>
                <issueTitle>US CPI URBAN CONSUMERS</issueTitle>
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                  <ticker value="CPURNSA"/>
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            <shareNo>0.01000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>25990.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>alstria office REIT-AG</name>
        <lei>529900QIJIGPI0DRL085</lei>
        <title>alstria office REIT-AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A0LD2U1"/>
          <ticker value="AOX"/>
          <other otherDesc="SEDOL" value="B1VP947"/>
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        <balance>7735.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Civitas Social Housing PLC</name>
        <lei>213800PGBG84J8GM6F95</lei>
        <title>Civitas Social Housing PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BD8HBD32"/>
          <ticker value="CSH"/>
          <other otherDesc="SEDOL" value="BD8HBD3"/>
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        <balance>32796.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LondonMetric Property PLC</name>
        <lei>213800OCERWWPQDURL87</lei>
        <title>LondonMetric Property PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B4WFW713"/>
          <ticker value="LMP"/>
          <other otherDesc="SEDOL" value="B4WFW71"/>
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        <balance>53050.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CHARTER HALL EDUCATION TRUST</name>
        <lei>N/A</lei>
        <title>CHARTER HALL EDUCATION TRUST</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000030645"/>
          <ticker value="CQE"/>
          <other otherDesc="SEDOL" value="BHJVMY0"/>
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        <balance>30135.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.49388000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Dios Fastigheter AB</name>
        <lei>549300G3VF7LZQ9IW435</lei>
        <title>Dios Fastigheter AB</title>
        <cusip>000000000</cusip>
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          <isin value="SE0001634262"/>
          <ticker value="DIOS"/>
          <other otherDesc="SEDOL" value="B1323T9"/>
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        <balance>6443.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC WHOLESALE</name>
        <lei>N/A</lei>
        <title>CURRENCY CONTRACT - USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00350741"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <pctVal>0.005707918486</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>BARCLAYS BANK PLC WHOLESALE</counterpartyName>
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            <amtCurSold>-11225000.00000000</amtCurSold>
            <curSold>DKK</curSold>
            <amtCurPur>1691793.89000000</amtCurPur>
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            <settlementDt>2020-04-01</settlementDt>
            <unrealizedAppr>18606.78000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>TSY INFL IX N/B</name>
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        <name>PS Business Parks Inc</name>
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        <name>ARGENT LETRAS DEL TESORO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kenedix Residential Next Inves</name>
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          <isin value="JP3047480003"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>Dryden Senior Loan Fund</name>
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        <name>SPDR S&amp;P GLOBAL NATURAL RESOURCES ETF</name>
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        <name>Fastighets AB Balder</name>
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        <name>EUREX CLEARING AG</name>
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        <name>Mid-America Apartment Communit</name>
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        <name>BUWOG AG ESCROW SHARES</name>
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        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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                  <derivAddlInfo>
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                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
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                  <curCd>N/A</curCd>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Realty Investment Trus</name>
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          <ticker value="FRT"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HENDERSON LAND</name>
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          <isin value="HK0012000102"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nippon Prologis REIT Inc</name>
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        <title>Nippon Prologis REIT Inc</title>
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          <isin value="JP3047550003"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GDI Property Group</name>
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          <isin value="AU000000GDI7"/>
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          <other otherDesc="SEDOL" value="BHB0NV9"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wharf Holdings Ltd/The</name>
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        <title>Wharf Holdings Ltd/The</title>
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          <isin value="HK0004000045"/>
          <ticker value="4"/>
          <other otherDesc="SEDOL" value="6435576"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hersha Hospitality Trust</name>
        <lei>549300DNC58BIN1VO064</lei>
        <title>Hersha Hospitality Trust</title>
        <cusip>427825500</cusip>
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          <isin value="US4278255009"/>
          <ticker value="HT"/>
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        <balance>4701.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60971.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MEXICAN UDIBONOS</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Udibonos</title>
        <cusip>000000000</cusip>
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          <isin value="MX0SGO000023"/>
          <other otherDesc="SEDOL" value="B1G14F6"/>
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        <balance>2113034.87000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CURRENCY CONTRACT - USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00352053"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>22170.51000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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            <settlementDt>2020-02-04</settlementDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CapitaLand Mall Trust</name>
        <lei>54930031292WUTXF0L29</lei>
        <title>CapitaLand Mall Trust</title>
        <cusip>000000000</cusip>
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          <isin value="SG1M51904654"/>
          <ticker value="CT"/>
          <other otherDesc="SEDOL" value="6420129"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sumitomo Realty &amp; Development</name>
        <lei>N/A</lei>
        <title>Sumitomo Realty &amp; Development Co Ltd</title>
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          <isin value="JP3409000001"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Befimmo SA</name>
        <lei>529900UM10B3V374TA43</lei>
        <title>Befimmo SA</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allied Properties Real Estate</name>
        <lei>549300AMZMPKVHA0MY77</lei>
        <title>Allied Properties Real Estate Investment Trust</title>
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          <ticker value="APU"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>CURRENCY CONTRACT - IDR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTIDR__00343710"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Healthcare Trust of America In</name>
        <lei>549300L0I14L7I0VLX84</lei>
        <title>Healthcare Trust of America Inc</title>
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          <ticker value="HTA"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>UMH Properties Inc</name>
        <lei>529900OM5K3PJ11F0Q09</lei>
        <title>UMH Properties Inc</title>
        <cusip>903002103</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Boston Properties Inc</name>
        <lei>549300OF70FSEUQBT254</lei>
        <title>Boston Properties Inc</title>
        <cusip>101121101</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United Urban Investment Corp</name>
        <lei>353800GYZWBD7BDCN841</lei>
        <title>United Urban Investment Corp</title>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>LONDON CLEARING HOUSE</counterpartyName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Tokyu REIT Inc</name>
        <lei>N/A</lei>
        <title>Tokyu REIT Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3044510000"/>
          <ticker value="8957"/>
          <other otherDesc="SEDOL" value="6687203"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CURRENCY CONTRACT - RUB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTRUB__00340323"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS &amp; CO LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
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            <unrealizedAppr>180.16000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GPT Group/The</name>
        <lei>N/A</lei>
        <title>GPT Group/The</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000GPT8"/>
          <ticker value="GPT"/>
          <other otherDesc="SEDOL" value="6365866"/>
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        <balance>101604.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.49388000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Real Estate Investm</name>
        <lei>549300DI34BGS8LVKW95</lei>
        <title>Washington Real Estate Investment Trust</title>
        <cusip>939653101</cusip>
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          <isin value="US9396531017"/>
          <ticker value="WRE"/>
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        <balance>4250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>129370.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Urban Edge Properties</name>
        <lei>N/A</lei>
        <title>Urban Edge Properties</title>
        <cusip>91704F104</cusip>
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          <isin value="US91704F1049"/>
          <ticker value="UE"/>
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        <balance>6074.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111700.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. MORGAN CHASE BANK LONDON</name>
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        <title>SWOP CDS ITRAXX.EU.32.V1</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="3175479W9"/>
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        <balance>-100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>J.P. MORGAN CHASE BANK LONDON</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                  <derivAddlInfo>
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                    <invOthCountry>US</invOthCountry>
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                      <issuerName>IHS MARKIT LTD</issuerName>
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                  <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust Inc</title>
        <cusip>17309MAD5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>Daiwa House Industry Co Ltd</name>
        <lei>N/A</lei>
        <title>Daiwa House Industry Co Ltd</title>
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          <isin value="JP3505000004"/>
          <ticker value="1925"/>
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        <balance>33900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hulic Reit Inc</name>
        <lei>N/A</lei>
        <title>Hulic Reit Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3047660000"/>
          <ticker value="3295"/>
          <other otherDesc="SEDOL" value="BJ04C42"/>
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        <balance>26.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EUREX CLEARING AG</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO-OAT</title>
        <cusip>000000000</cusip>
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          <ticker value="OATH0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00PD5Z9J0"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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                <issuerName>FRANCE (GOVT OF)</issuerName>
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            <expDate>2020-03-06</expDate>
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      <invstOrSec>
        <name>DIC Asset AG</name>
        <lei>52990044JL2ZPWONU738</lei>
        <title>DIC Asset AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A1X3XX4"/>
          <ticker value="DIC"/>
          <other otherDesc="SEDOL" value="BD1NML3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sun Communities Inc</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>Sun Communities Inc</title>
        <cusip>866674104</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EUREX CLEARING AG</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO-BUXL 30 YEAR BOND</title>
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                <issuerName>BUNDESREPUB. DEUTSCHLAND</issuerName>
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            <expDate>2020-03-06</expDate>
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      <invstOrSec>
        <name>Forestar Group Inc</name>
        <lei>549300BC2UB0GHV60V70</lei>
        <title>Forestar Group Inc</title>
        <cusip>346232101</cusip>
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          <isin value="US3462321015"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EUREX CLEARING AG</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>SHORT EURO-BTP</title>
        <cusip>000000000</cusip>
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          <ticker value="BTSH0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00PD5Z9G3"/>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Soilbuild Business Space REIT</name>
        <lei>5493003FPG03GD7G5377</lei>
        <title>Soilbuild Business Space REIT</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TLG Immobilien AG</name>
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        <title>TLG Immobilien AG</title>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tokyo Tatemono Co Ltd</name>
        <lei>529900RQA4JTW1869J86</lei>
        <title>Tokyo Tatemono Co Ltd</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Unibail-Rodamco-Westfield</name>
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          <isin value="FR0013326246"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912828N712"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>OUE Ltd</name>
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        <title>OUE Ltd</title>
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          <isin value="SG2B80958517"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Front Yard Residential Corp</name>
        <lei>N/A</lei>
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        <cusip>35904G107</cusip>
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          <isin value="US35904G1076"/>
          <ticker value="RESI"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>VI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Grainger PLC</name>
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        <title>Grainger PLC</title>
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          <ticker value="GRI"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS GBP</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal" value="SWU0Z809M"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Hemfosa Fastigheter AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DREAM Unlimited Corp</name>
        <lei>N/A</lei>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CHICAGO BOARD OF TRADE</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American Finance Trust Inc</name>
        <lei>549300GN4H0K3IUS8983</lei>
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        <cusip>02607T109</cusip>
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          <isin value="US02607T1097"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Granite Real Estate Investment</name>
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        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <name>Macerich Co/The</name>
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        <title>Macerich Co/The</title>
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        <name>Ingenia Communities Group</name>
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        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS USD</title>
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        <name>TSY INFL IX N/B</name>
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        <name>Keihanshin Building Co Ltd</name>
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        <name>Comforia Residential REIT Inc</name>
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          <isin value="JP3047540004"/>
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      <invstOrSec>
        <name>Vornado Realty Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Realty Income Corp</name>
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        <name>SL Green Realty Corp</name>
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        <name>Mapletree Industrial Trust</name>
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        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS IFS USD</title>
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        <name>American Campus Communities In</name>
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        <name>CA Immobilien Anlagen AG</name>
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        <name>Big Shopping Centers Ltd</name>
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        <name>TSY INFL IX N/B</name>
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        <name>Tokyu Fudosan Holdings Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Covivio</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <title>IRS USD</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>US TREASURY N/B</issuerName>
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            <expDate>2020-03-31</expDate>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS INC.</name>
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        <title>US CPI URBAN CONSUMERS NSA</title>
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          <ticker value="CPURNSA 4 P216.687"/>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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                <issuerName>BUREAU OF LABOR STATISTICS</issuerName>
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                  <cusip value="000000000"/>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
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          <other otherDesc="INTERNAL" value="3175RWRC3"/>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <putOrCall>Call</putOrCall>
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                <issuerName>EUROPEAN CENTRAL BANK</issuerName>
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                  <cusip value="000000000"/>
                  <ticker value="CPTFEMU"/>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>HEALTHCARE &amp; MEDICAL INVE</name>
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          <isin value="JP3047910009"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Grifonas Finance PLC</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CDL Hospitality Trusts</name>
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        <title>CDL Hospitality Trusts</title>
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        <name>Swiss Prime Site AG</name>
        <lei>506700XI9H64OPR34158</lei>
        <title>Swiss Prime Site AG</title>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EUREX CLEARING AG</name>
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      <invstOrSec>
        <name>Klepierre SA</name>
        <lei>969500PB4U31KEFHZ621</lei>
        <title>Klepierre SA</title>
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          <ticker value="LI"/>
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        <name>TSY INFL IX N/B</name>
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        <title>United States Treasury Inflation Indexed Bonds</title>
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      <invstOrSec>
        <name>Taubman Centers Inc</name>
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        <title>Taubman Centers Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F032633</cusip>
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        <balance>1570000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REPUBLIC OF PERU</name>
        <lei>254900STKLK2DBJJZ530</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Easterly Government Properties</name>
        <lei>549300ERMCEFC6S8HL77</lei>
        <title>Easterly Government Properties Inc</title>
        <cusip>27616P103</cusip>
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          <isin value="US27616P1030"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alexandria Real Estate Equitie</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities Inc</title>
        <cusip>015271109</cusip>
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          <isin value="US0152711091"/>
          <ticker value="ARE"/>
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        <balance>5619.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>917020.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AvalonBay Communities Inc</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities Inc</title>
        <cusip>053484101</cusip>
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          <isin value="US0534841012"/>
          <ticker value="AVB"/>
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        <balance>7510.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1627341.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ICADE</name>
        <lei>969500UDH342QLTE1M42</lei>
        <title>ICADE</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000035081"/>
          <ticker value="ICAD"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>912810QV3</cusip>
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          <isin value="US912810QV35"/>
          <other otherDesc="Sedol" value="B622LB3"/>
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        <balance>839000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS IFS USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWU0FC19M"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>51.21000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>IRS USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWU00NBNM"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>One Liberty Properties Inc</name>
        <lei>549300QII1CQZGZBZR14</lei>
        <title>One Liberty Properties Inc</title>
        <cusip>682406103</cusip>
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          <isin value="US6824061039"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS IFS USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal" value="SWU0ZA53M"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Invesco Office J-Reit Inc</name>
        <lei>353800L26AROSFHOI265</lei>
        <title>Invesco Office J-Reit Inc</title>
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          <isin value="JP3047760008"/>
          <ticker value="3298"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Springcastle SPV</name>
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        <title>SpringCastle Funding Asset-Backed Notes 2019-A</title>
        <cusip>85022WAL8</cusip>
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        <name>IMPERIAL BRANDS FIN PLC</name>
        <lei>2138008L3B3MCG1DFS50</lei>
        <title>Imperial Brands Finance PLC</title>
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        <name>Terreno Realty Corp</name>
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        <name>Land Securities Group PLC</name>
        <lei>213800V8IAVKS37D6B88</lei>
        <title>Land Securities Group PLC</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Wharf Real Estate Investment C</name>
        <lei>529900QLPKS8U9QOPB59</lei>
        <title>Wharf Real Estate Investment Co Ltd</title>
        <cusip>000000000</cusip>
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        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chinese Estates Holdings Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NATWEST MARKETS SECURITIES INC.</name>
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        <name>Frasers Logistics &amp; Industrial</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Azrieli Group Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Hibernia REIT plc</name>
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        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <name>EUREX CLEARING AG</name>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>DEUTSCHE BANK AG</counterpartyName>
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            <writtenOrPur>Written</writtenOrPur>
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                  <derivAddlInfo>
                    <name>DEUTSCHE BANK AG</name>
                    <lei>7LTWFZYICNSX8D621K86</lei>
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                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
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                        <cusip value="000000000"/>
                        <other otherDesc="INTERNAL" value="2I666VCV5_INDEX_EU"/>
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                    </otherRefInst>
                  </descRefInstrmnt>
                  <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
                  <fixedPmntDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>N/A</notionalAmt>
                  <curCd>N/A</curCd>
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            </descRefInstrmnt>
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            <exercisePrice>0.70000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>81.92000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUREX CLEARING AG</name>
        <lei>529900LN3S50JPU47S06</lei>
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        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Call</putOrCall>
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                  <derivAddlInfo>
                    <name>EUREX CLEARING AG</name>
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                      <ticker value="OEH0"/>
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                  <payOffProf>Long</payOffProf>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>BUNDESOBLIGATION</issuerName>
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                      <identifiers>
                        <isin value="DE0001141802"/>
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                  </descRefInstrmnt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-9.30000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC BANK USA, N.A.</name>
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          <other otherDesc="INTERNAL" value="CCTUSD__00345434"/>
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        <valUSD>-31.01000000</valUSD>
        <pctVal>-0.00000951279</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC BANK USA, N.A.</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC 2019-RPL9 Trust</title>
        <cusip>12654WAC7</cusip>
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          <isin value="US12654WAC73"/>
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        <balance>99240.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100552.87000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-10-27</maturityDt>
          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>British Land Co PLC/The</name>
        <lei>RV5B68J2GV3QGMRPW209</lei>
        <title>British Land Co PLC/The</title>
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          <isin value="GB0001367019"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>INTL LEASE FINANCE CORP</name>
        <lei>N/A</lei>
        <title>International Lease Finance Corp</title>
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          <isin value="US459745GF62"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>European Loan Conduit</name>
        <lei>N/A</lei>
        <title>European Loan Conduit No 36 DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2069480866"/>
          <other otherDesc="INTERNAL" value="BCC2LM3C5"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
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        <assetCat>ABS-MBS</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>IRS USD</title>
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          <other otherDesc="Internal" value="SWU0SF41M"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-676.25000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
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        <title>United States Treasury Inflation Indexed Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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      <invstOrSec>
        <name>Wallenstam AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS IFS EUR</title>
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      <invstOrSec>
        <name>NORDEA KREDIT REALKREDIT</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
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        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EUREX CLEARING AG</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO-BUND</title>
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          <ticker value="RXH0P172"/>
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        <balance>-4.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
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        <pctVal>-0.00008165177</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>EUREX CLEARING AG</counterpartyName>
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            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <futrDeriv derivCat="FUT">
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                  <derivAddlInfo>
                    <name>EUREX CLEARING AG</name>
                    <lei>529900LN3S50JPU47S06</lei>
                    <title>EURO-BUND</title>
                    <cusip>000000000</cusip>
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                      <ticker value="RXH0"/>
                      <other otherDesc="ID_BB_GLOBAL" value="BBG00PD5Z8R3"/>
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                    <units>NC</units>
                    <currencyConditional curCd="EUR" exchangeRt="0.00000000"/>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>DE</invCountry>
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                  <payOffProf>Short</payOffProf>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>BUNDESREPUB. DEUTSCHLAND</issuerName>
                      <issueTitle>Bundesrepublik Deutschland Bundesanleihe</issueTitle>
                      <identifiers>
                        <cusip value="000000000"/>
                        <isin value="DE0001102440"/>
                        <other otherDesc="SEDOL" value="BFWJL06"/>
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                    </otherRefInst>
                  </descRefInstrmnt>
                  <expDate>2020-03-06</expDate>
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            <shareNo>1000.00000000</shareNo>
            <exercisePrice>172.00000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2020-02-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>4723.42000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE</name>
        <lei>5493000F4ZO33MV32P92</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWPC0ILGX"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-157864.81000000</valUSD>
        <pctVal>-0.04842748005</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>INTERCONTINENTAL EXCHANGE</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>IHS MARKIT LTD</issuerName>
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                  <cusip value="000000000"/>
                  <ticker value="IBOXHYSE"/>
                  <other otherDesc="INTERNAL" value="2I65BRSB7_INDEX_US"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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        <title>10 YEAR US TREASURY NOTE</title>
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          <ticker value="TYH0"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00PF52FG3"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-34035.26000000</valUSD>
        <pctVal>-0.01044084412</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>US TREASURY N/B</issuerName>
                <issueTitle>United States Treasury Note/Bond</issueTitle>
                <identifiers>
                  <cusip value="912828U24"/>
                  <isin value="US912828U246"/>
                  <other otherDesc="Sedol" value="BZ1BP78"/>
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            </descRefInstrmnt>
            <expDate>2020-03-20</expDate>
            <notionalAmt>-2335777.24000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-34035.26000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Takara Leben Co Ltd</name>
        <lei>N/A</lei>
        <title>Takara Leben Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3460800000"/>
          <ticker value="8897"/>
          <other otherDesc="SEDOL" value="6416355"/>
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        <balance>7200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>32078.70000000</valUSD>
        <pctVal>0.009840638989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Argentina POM Politica Monetaria</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>ARGENTINA POM FRN 6/20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ARARGE3204M0"/>
          <other otherDesc="SEDOL" value="BF116H5"/>
        </identifiers>
        <balance>6920000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="ARS" exchangeRt="60.27740000"/>
        <valUSD>86101.92000000</valUSD>
        <pctVal>0.026413100001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>53.35824200</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>Japan Logistics Fund Inc</name>
        <lei>3538004KZWISCQO70151</lei>
        <title>Japan Logistics Fund Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046230003"/>
          <ticker value="8967"/>
          <other otherDesc="SEDOL" value="B07NL19"/>
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        <balance>48.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>129875.46000000</valUSD>
        <pctVal>0.039841312630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>912810QF8</cusip>
        <identifiers>
          <isin value="US912810QF84"/>
          <other otherDesc="Sedol" value="B64KS14"/>
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        <balance>510000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>839407.02000000</valUSD>
        <pctVal>0.257501128448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTESA SANPAOLO SPA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
        <cusip>46115HAD9</cusip>
        <identifiers>
          <isin value="US46115HAD98"/>
          <other otherDesc="Sedol" value="B3ZG854"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>314060.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. MORGAN CHASE BANK LONDON</name>
        <lei>5493006E8T4CEG2U3B02</lei>
        <title>SWOP CDS ITRAXX.EU.32.V1</title>
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        <identifiers>
          <other otherDesc="INTERNAL" value="3175699F0"/>
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        <balance>-100000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                    <invOthCountry>US</invOthCountry>
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                      <issuerName>IHS MARKIT LTD</issuerName>
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                  <curCd>N/A</curCd>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Altarea SCA</name>
        <lei>969500ICGCY1PD6OT783</lei>
        <title>Altarea SCA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000033219"/>
          <ticker value="ALTA"/>
          <other otherDesc="SEDOL" value="4821638"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nippon Building Fund Inc</name>
        <lei>52990053R8NL2MB32172</lei>
        <title>Nippon Building Fund Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3027670003"/>
          <ticker value="8951"/>
          <other otherDesc="SEDOL" value="6396800"/>
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        <balance>82.00000000</balance>
        <units>NS</units>
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        <pctVal>0.203771304599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Physicians Realty Trust</name>
        <lei>549300ITOVH0OY7PZC34</lei>
        <title>Physicians Realty Trust</title>
        <cusip>71943U104</cusip>
        <identifiers>
          <isin value="US71943U1043"/>
          <ticker value="DOC"/>
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        <balance>9773.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189107.55000000</valUSD>
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        <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>
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      <invstOrSec>
        <name>Catena AB</name>
        <lei>549300EMLM7AH5LDLY65</lei>
        <title>Catena AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001664707"/>
          <ticker value="CATE"/>
          <other otherDesc="SEDOL" value="B131GJ7"/>
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        <balance>1465.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.62690000"/>
        <valUSD>63427.64000000</valUSD>
        <pctVal>0.019457412775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC BANK USA, N.A.</name>
        <lei>1IE8VN30JCEQV1H4R804</lei>
        <title>CDS MEXICO LA BP</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3119.22000000</valUSD>
        <pctVal>-0.00095686913</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Northview Apartment Real Estat</name>
        <lei>N/A</lei>
        <title>Northview Apartment Real Estate Investment Trust</title>
        <cusip>667185102</cusip>
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          <isin value="CA6671851021"/>
          <ticker value="NVU-U"/>
          <other otherDesc="SEDOL" value="BYZGBB8"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>iShares Commodities Select Strategy ETF</name>
        <lei>549300E6DRJWWX0UKV73</lei>
        <title>iShares Commodities Select Strategy ETF</title>
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          <isin value="US46431W8534"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Xenia Hotels &amp; Resorts Inc</name>
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          <isin value="US9840171030"/>
          <ticker value="XHR"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <title>IRS USD</title>
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          <other otherDesc="INTERNAL" value="SWU00L7TM"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
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      <invstOrSec>
        <name>New Residential Mortgage Loan</name>
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        <title>New Residential Mortgage Loan Trust 2019-RPL3</title>
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          <isin value="US64830NAA90"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prologis Inc</name>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>City Developments Ltd</name>
        <lei>254900BPLPJS0RJ72373</lei>
        <title>City Developments Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="SG1R89002252"/>
          <ticker value="CIT"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>912828X39</cusip>
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          <isin value="US912828X398"/>
          <other otherDesc="Sedol" value="BDHBMM2"/>
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        <balance>4929000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5227126.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>RLJ Lodging Trust</name>
        <lei>N/A</lei>
        <title>RLJ Lodging Trust</title>
        <cusip>74965L101</cusip>
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          <isin value="US74965L1017"/>
          <ticker value="RLJ"/>
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        <balance>11928.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Innovative Industrial Properti</name>
        <lei>5493008BQ0545EZXRR30</lei>
        <title>Innovative Industrial Properties Inc</title>
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          <ticker value="IIPR"/>
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        <balance>658.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Bear Stearns Asset Backed Secu</name>
        <lei>N/A</lei>
        <title>Bear Stearns Asset Backed Securities I Trust 2005-TC1</title>
        <cusip>073879VG0</cusip>
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          <isin value="US073879VG02"/>
          <other otherDesc="Sedol" value="BD60RW5"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>HSBC BANK USA, N.A.</name>
        <lei>1IE8VN30JCEQV1H4R804</lei>
        <title>CDS BRAZIL LA</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal" value="SWPC0IGS0"/>
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        <fairValLevel>2</fairValLevel>
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                <issuerName>BRAZILIAN GOVERNMENT INTERNATIONAL BOND</issuerName>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>Colony Capital Inc</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>Colony Capital Inc</title>
        <cusip>19626G108</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CURRENCY CONTRACT - USD</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>Sunlight Real Estate Investmen</name>
        <lei>N/A</lei>
        <title>Sunlight Real Estate Investment Trust</title>
        <cusip>000000000</cusip>
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          <isin value="HK0435036626"/>
          <ticker value="435"/>
          <other otherDesc="SEDOL" value="B1KR438"/>
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        <balance>139000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sabra Health Care REIT Inc</name>
        <lei>549300E3BC7GU7TAZ621</lei>
        <title>Sabra Health Care REIT Inc</title>
        <cusip>78573L106</cusip>
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          <ticker value="SBRA"/>
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        <balance>11566.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Road King Infrastructure Ltd</name>
        <lei>N/A</lei>
        <title>Road King Infrastructure Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG760581097"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ashford Hospitality Trust Inc</name>
        <lei>N/A</lei>
        <title>Ashford Hospitality Trust Inc</title>
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        <name>Symphony CLO Ltd</name>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <name>Eurocommercial Properties NV</name>
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        <name>Selvaag Bolig ASA</name>
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        <name>CITIBANK NA</name>
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        <name>TSY INFL IX N/B</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Trinity Square</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CapitaLand Retail China Trust</name>
        <lei>5493007T7JU82E186P49</lei>
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        <name>GREENLAND HK</name>
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        <title>Greenland Hong Kong Holdings Ltd</title>
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          <isin value="KYG4587S1049"/>
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          <other otherDesc="SEDOL" value="BFH1P83"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Retail Value Inc</name>
        <lei>549300VO5RB7323N1Z31</lei>
        <title>Retail Value Inc</title>
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          <ticker value="RVI"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>LONDON CLEARING HOUSE</name>
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        <name>Mitsubishi Estate Logistics RE</name>
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        <name>LONDON CLEARING HOUSE</name>
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        <name>Frasers Centrepoint Trust</name>
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        <name>Intervest Offices &amp; Warehouses</name>
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        <name>LONDON CLEARING HOUSE</name>
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        <name>Consolidated-Tomoka Land Co</name>
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        <name>TSY INFL IX N/B</name>
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        <title>United States Treasury Inflation Indexed Bonds</title>
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        <name>ABACUS PROPERTY GROUP</name>
        <lei>2138009R3Y4TK4IZDW59</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Global Net Lease Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS SA</name>
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        <curCd>USD</curCd>
        <valUSD>846872.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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        <securityLending>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>QTS Realty Trust Inc</name>
        <lei>5493006PA4CJK4OG2J54</lei>
        <title>QTS Realty Trust Inc</title>
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          <isin value="US74736A1034"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Apartment Investment &amp; Managem</name>
        <lei>549300O8FT5GJ4RU1D57</lei>
        <title>Apartment Investment &amp; Management Co</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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          <ticker value="N/A"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Washington Prime Group Inc</name>
        <lei>549300RWGA2GV6YQYT67</lei>
        <title>Washington Prime Group Inc</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Activia Properties Inc</name>
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        <title>Activia Properties Inc</title>
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          <isin value="JP3047490002"/>
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        <name>Invincible Investment Corp</name>
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        <name>TSY INFL IX N/B</name>
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        <name>DEUTSCHE BANK SECURITIES INC.</name>
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        <title>DEUTSCHE BANK SECURITIES INC.</title>
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        <name>Equity Commonwealth</name>
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        <title>Equity Commonwealth</title>
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        <name>RBC DOMINION SECURITIES INC</name>
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        <name>Kimco Realty Corp</name>
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        <title>Kimco Realty Corp</title>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <name>Regional REIT Ltd</name>
        <lei>549300D8G4NKLRIKBX73</lei>
        <title>Regional REIT Ltd</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AUSTRALIAN GOVERNMENT</name>
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          <isin value="AU0000XCLWP8"/>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Wohnen SE</name>
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          <isin value="DE000A0HN5C6"/>
          <ticker value="DWNI"/>
          <other otherDesc="SEDOL" value="B0YZ0Z5"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pebblebrook Hotel Trust</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Summit Industrial Income REIT</name>
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          <isin value="CA8661201167"/>
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          <other otherDesc="SEDOL" value="B928VJ0"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Picton Property Income Ltd/The</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LTC Properties Inc</name>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Irish Residential Properties R</name>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Hammerson PLC</name>
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          <ticker value="HMSO"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OUE Commercial Real Estate Inv</name>
        <lei>549300ZH7I6OTTYIPE70</lei>
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        <cusip>000000000</cusip>
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          <isin value="SG2G60000004"/>
          <ticker value="OUECT"/>
          <other otherDesc="SEDOL" value="BJ62K79"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Orix JREIT Inc</name>
        <lei>N/A</lei>
        <title>Orix JREIT Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3040880001"/>
          <ticker value="8954"/>
          <other otherDesc="SEDOL" value="6527774"/>
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        <balance>184.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>First Industrial Realty Trust</name>
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          <ticker value="FR"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>H&amp;R Real Estate Investment Tru</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hang Lung Group Ltd</name>
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        <title>Hang Lung Group Ltd</title>
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          <ticker value="10"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>iShares Silver Trust</name>
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        <title>iShares Silver Trust</title>
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          <ticker value="SLV"/>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <name>TSY INFL IX N/B</name>
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        <name>ADO Properties SA</name>
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        <name>Essex Property Trust Inc</name>
        <lei>549300TR2H2VEFX0NC60</lei>
        <title>Essex Property Trust Inc</title>
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        <title>United States Treasury Inflation Indexed Bonds</title>
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          <other otherDesc="Sedol" value="B7GSCJ9"/>
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        <balance>622000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lendlease Group</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC WHOLESALE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. MORGAN CHASE BANK NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LONDON CLEARING HOUSE</name>
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        <title>IRS IFS GBP</title>
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          <other otherDesc="INTERNAL" value="SWU068R1M"/>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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        <name>Regency Centers Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>VEREIT Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Shackleton CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; COMPANY LLC</name>
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        <assetCat>RA</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Saxon Asset Securities Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CareTrust REIT Inc</name>
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        <title>CareTrust REIT Inc</title>
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        <name>Montea C.V.A</name>
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        <name>Mapletree North Asia Commercia</name>
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        <title>Mapletree North Asia Commercial Trust</title>
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        <name>American Homes 4 Rent</name>
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        <title>American Homes 4 Rent</title>
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        <fairValLevel>1</fairValLevel>
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        <name>HSBC BANK USA, N.A.</name>
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        <name>HSBC BANK USA, N.A.</name>
        <lei>1IE8VN30JCEQV1H4R804</lei>
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        <name>FE CONSORT INTL</name>
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        <title>Far East Consortium International Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AEON REIT Investment Corp</name>
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        <name>Fannie Mae or Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Healthcare Realty Trust Inc</name>
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        <name>INDYMAC INDX MORTGAGE LOAN TRU</name>
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        <name>Cousins Properties Inc</name>
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        <name>CITIBANK N.A.</name>
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        <name>Spirit Realty Capital Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ARGENT LETRAS DEL TESORO</name>
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        <name>IMMOFINANZ AG</name>
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        <name>Gecina SA</name>
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        <name>TSY INFL IX N/B</name>
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        <name>Invitation Homes Inc</name>
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        <name>City Office REIT Inc</name>
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        <title>City Office REIT Inc</title>
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        <name>Unizo Holdings Co Ltd</name>
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        <title>Unizo Holdings Co Ltd</title>
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        <name>Shopping Centres Australasia P</name>
        <lei>N/A</lei>
        <title>Shopping Centres Australasia Property Group</title>
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        <name>Kilroy Realty Corp</name>
        <lei>549300CXXI18B214UN80</lei>
        <title>Kilroy Realty Corp</title>
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        <name>BARCLAYS BANK PLC</name>
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        <title>SWOP CDS ITRAXX.EU.32.V1</title>
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        <name>CRED SUIS GP FUN LTD</name>
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        <name>CITIBANK N.A.</name>
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        <name>The Bancorp Commercial Mortgag</name>
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        <lei>N/A</lei>
        <title>Mori Hills REIT Investment Corp</title>
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          <isin value="JP3046470005"/>
          <ticker value="3234"/>
          <other otherDesc="SEDOL" value="B1GF9P3"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Great Portland Estates PLC</name>
        <lei>213800JMEDD2Q4N1MC42</lei>
        <title>Great Portland Estates PLC</title>
        <cusip>000000000</cusip>
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          <ticker value="GPOR"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Heiwa Real Estate Co Ltd</name>
        <lei>N/A</lei>
        <title>Heiwa Real Estate Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3834800009"/>
          <ticker value="8803"/>
          <other otherDesc="SEDOL" value="6419600"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mirai Corp</name>
        <lei>353800HQCYM7P10R9D93</lei>
        <title>Mirai Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3048370005"/>
          <ticker value="3476"/>
          <other otherDesc="SEDOL" value="BZ1B0D9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>9128287D6</cusip>
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          <isin value="US9128287D64"/>
          <other otherDesc="Sedol" value="BK53BD3"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>TORTOISE MLP &amp; PIPELINE FUND</name>
        <lei>2549009F7PQ9BRFORQ79</lei>
        <title>TORTOISE MLP &amp; PIPELINE-INST</title>
        <cusip>56166Y404</cusip>
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          <isin value="US56166Y4044"/>
          <ticker value="TORIX"/>
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        <balance>973466.39700000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>J.P. MORGAN CHASE BANK NA</name>
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        <title>SWOP CDS ITRAXX.EU.32.V1</title>
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          <other otherDesc="INTERNAL" value="317546471"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Japan Excellent Inc</name>
        <lei>N/A</lei>
        <title>Japan Excellent Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046420000"/>
          <ticker value="8987"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TAG Immobilien AG</name>
        <lei>529900TAE68USJNXLR59</lei>
        <title>TAG Immobilien AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE0008303504"/>
          <ticker value="TEG"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HSBC BANK USA, N.A.</name>
        <lei>1IE8VN30JCEQV1H4R804</lei>
        <title>CURRENCY CONTRACT - KRW</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTKRW__00346833"/>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MCUBS MidCity Investment Corp</name>
        <lei>353800WZPKHG2SQS1P32</lei>
        <title>MCUBS MidCity Investment Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046450007"/>
          <ticker value="3227"/>
          <other otherDesc="SEDOL" value="B19PR78"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>YPF SOCIEDAD ANONIMA</name>
        <lei>5493003N7447U18U5U53</lei>
        <title>YPF SA</title>
        <cusip>000000000</cusip>
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          <isin value="ARYPFS5600D2"/>
          <other otherDesc="INTERNAL" value="JK3521016"/>
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        <balance>450000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>SAKURA SOGO REIT INVESTME</name>
        <lei>N/A</lei>
        <title>SAKURA SOGO REIT INVESTME</title>
        <cusip>000000000</cusip>
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          <isin value="JP3048320000"/>
          <ticker value="3473"/>
          <other otherDesc="SEDOL" value="BD3VZL6"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC BANK USA, N.A.</name>
        <lei>1IE8VN30JCEQV1H4R804</lei>
        <title>CURRENCY CONTRACT - USD</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00352051"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO INTERNATIONAL</name>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAPAN GOVT CPI LINKED</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japanese Government CPI Linked Bond</title>
        <cusip>000000000</cusip>
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          <isin value="JP1120241K56"/>
          <other otherDesc="SEDOL" value="BKBDKZ2"/>
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      <invstOrSec>
        <name>Killam Apartment Real Estate I</name>
        <lei>N/A</lei>
        <title>Killam Apartment Real Estate Investment Trust</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hudson Pacific Properties Inc</name>
        <lei>N/A</lei>
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          <isin value="US4440971095"/>
          <ticker value="HPP"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NexPoint Residential Trust Inc</name>
        <lei>549300U2J6XVYBF87166</lei>
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          <isin value="US65341D1028"/>
          <ticker value="NXRT"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Keppel DC REIT</name>
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          <isin value="SG1AF6000009"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Monmouth Real Estate Investmen</name>
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          <isin value="US6097201072"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Empiric Student Property PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TSY INFL IX N/B</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DiamondRock Hospitality Co</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Frasers Commercial Trust</name>
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        <title>Frasers Commercial Trust</title>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kennedy-Wilson Holdings Inc</name>
        <lei>549300MOI1T78144X610</lei>
        <title>Kennedy-Wilson Holdings Inc</title>
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          <isin value="US4893981070"/>
          <ticker value="KW"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>912810RR1</cusip>
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          <isin value="US912810RR14"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Workspace Group PLC</name>
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        <title>Workspace Group PLC</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Public Storage</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alony Hetz Properties &amp; Invest</name>
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        <title>Alony Hetz Properties &amp; Investments Ltd</title>
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          <ticker value="ALHE"/>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Corporate Office Properties Tr</name>
        <lei>YY1J47X6LF9TYY8JY420</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>CREDIT SUISSE INTERNATIONAL</name>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
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        <name>SEMPRA ENERGY</name>
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        <name>Samty Residential Investment C</name>
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        <name>Ventas Inc</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>Ventas Inc</title>
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        <name>Dexus</name>
        <lei>N/A</lei>
        <title>Dexus</title>
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        <name>BANK OF AMERICA, N.A.</name>
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          <ticker value="N/A"/>
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            <curPur>USD</curPur>
            <settlementDt>2020-03-03</settlementDt>
            <unrealizedAppr>-14487.93000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>IRS USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWU00Q6SM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-77644.56000000</valUSD>
        <pctVal>-0.02381867358</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="3 MONTH US DOLLAR LIBOR BBA" floatingRtSpread="0.00000000" pmntAmt="750000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
              </rtResetTenors>
            </floatingRecDesc>
            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="2.72000000"/>
            <terminationDt>2028-07-18</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>750000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-77644.56000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Primary Health Properties PLC</name>
        <lei>213800Y5CJHXOATK7X11</lei>
        <title>Primary Health Properties PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYRJ5J14"/>
          <ticker value="PHP"/>
          <other otherDesc="SEDOL" value="BYRJ5J1"/>
        </identifiers>
        <balance>77644.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75729000"/>
        <valUSD>161285.84000000</valUSD>
        <pctVal>0.049476934089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tricon Capital Group Inc</name>
        <lei>N/A</lei>
        <title>Tricon Capital Group Inc</title>
        <cusip>89612W102</cusip>
        <identifiers>
          <isin value="CA89612W1023"/>
          <ticker value="TCN"/>
          <other otherDesc="SEDOL" value="B4NP281"/>
        </identifiers>
        <balance>7268.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32340000"/>
        <valUSD>59861.87000000</valUSD>
        <pctVal>0.018363557498</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>FRANCE (GOVT OF)</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic Government Bond OAT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010585901"/>
          <other otherDesc="SEDOL" value="B2PP4H8"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
        <valUSD>569359.52000000</valUSD>
        <pctVal>0.174659867501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.10000000</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>National Storage REIT</name>
        <lei>N/A</lei>
        <title>National Storage REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NSR2"/>
          <ticker value="NSR"/>
          <other otherDesc="SEDOL" value="BGP6479"/>
        </identifiers>
        <balance>33137.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49388000"/>
        <valUSD>47498.54000000</valUSD>
        <pctVal>0.014570914178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daito Trust Cons</name>
        <lei>353800QQ4DRI3KXS3038</lei>
        <title>Daito Trust Construction Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3486800000"/>
          <ticker value="1878"/>
          <other otherDesc="SEDOL" value="6250508"/>
        </identifiers>
        <balance>3400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>400508.26000000</valUSD>
        <pctVal>0.122862123434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Real Estate Investment C</name>
        <lei>3538003YAIR3CBGJJ928</lei>
        <title>Japan Real Estate Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3027680002"/>
          <ticker value="8952"/>
          <other otherDesc="SEDOL" value="6397580"/>
        </identifiers>
        <balance>64.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.35500000"/>
        <valUSD>467348.87000000</valUSD>
        <pctVal>0.143366517716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fortune Real Estate Investment</name>
        <lei>N/A</lei>
        <title>Fortune Real Estate Investment Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1O33912138"/>
          <ticker value="778"/>
          <other otherDesc="SEDOL" value="B5T50H7"/>
        </identifiers>
        <balance>101000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.76660000"/>
        <valUSD>115137.07000000</valUSD>
        <pctVal>0.035320082802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>SWOP CDS ITRAXX.EU.32.V1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="317546489"/>
        </identifiers>
        <balance>-100000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90167000"/>
        <valUSD>-86.01000000</valUSD>
        <pctVal>-0.00002638490</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BANK OF AMERICA, NATIONAL ASSOCIATION</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <swapDeriv derivCat="SWP">
                  <counterparties>
                    <counterpartyName>BANK OF AMERICA, NATIONAL ASSOCIATION</counterpartyName>
                    <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
                    <lei>B4TYDEB6GKMZO031MB27</lei>
                    <title>CDS ITRAXX.EU.32.V1</title>
                    <cusip>000000000</cusip>
                    <identifiers>
                      <other otherDesc="INTERNAL" value="SW317546489SO"/>
                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="EUR" exchangeRt="0.00000000"/>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DCR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
                  </derivAddlInfo>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
                      <issueTitle>ITRAXX.EU.31.V1</issueTitle>
                      <identifiers>
                        <cusip value="000000000"/>
                        <other otherDesc="INTERNAL" value="2I666VCV5_INDEX_EU"/>
                      </identifiers>
                    </otherRefInst>
                  </descRefInstrmnt>
                  <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
                  <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
                  <terminationDt>2024-12-20</terminationDt>
                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>N/A</notionalAmt>
                  <curCd>N/A</curCd>
                </swapDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <principalAmt>1.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>0.45000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2020-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-8.30000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Chase Commercial Mor</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust 2019-FL12</title>
        <cusip>46651QAA5</cusip>
        <identifiers>
          <isin value="US46651QAA58"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100144.00000000</valUSD>
        <pctVal>0.030720725932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.12625000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-03-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Wilmington Funds</ncom:nameOfApplicant>
      <ncom:signature>John C. McDonnell</ncom:signature>
      <ncom:signerName>John C. McDonnell</ncom:signerName>
      <ncom:title>Chief Operations Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
