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

      <filer>
        <issuerCredentials>
          <cik>0000916620</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000024144</seriesId>
        <classId>C000070886</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Northern Funds</regName>
      <regFileNumber>811-08236</regFileNumber>
      <regCik>0000916620</regCik>
      <regLei>5493004ZY1PEJR3C0A81</regLei>
      <regStreet1>50 South LaSalle Street</regStreet1>
      <regCity>Chicago</regCity>
      <regStateConditional regCountry="US" regState="US-IL"/>
      <regZipOrPostalCode>60603</regZipOrPostalCode>
      <regPhone>800-595-9111</regPhone>
      <seriesName>Active M Emerging Markets Equity Fund</seriesName>
      <seriesId>S000024144</seriesId>
      <seriesLei>5493000ZKA8JE2TMKZ60</seriesLei>
      <repPdEnd>2020-03-31</repPdEnd>
      <repPdDate>2019-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>564578233.260000000000</totAssets>
      <totLiabs>474361.350000000000</totLiabs>
      <netAssets>564103871.910000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.000000000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.000000000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.000000000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.000000000000</amtPayAftOneYrOther>
      <delayDeliv>0.000000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
      <cshNotRptdInCorD>288304.970000000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000070886" rtn1="3.16" rtn2="-0.15" rtn3="7.11"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <commodityContracts>
            <mon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </otherCategory>
          </commodityContracts>
          <creditContracts>
            <mon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </otherCategory>
          </creditContracts>
          <equityContracts>
            <mon1 netRealizedGain="-78594.31" netUnrealizedAppr="361709.54"/>
            <mon2 netRealizedGain="201546.16" netUnrealizedAppr="-174384.17"/>
            <mon3 netRealizedGain="179246.42" netUnrealizedAppr="242937.51"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="-78594.31" netUnrealizedAppr="361709.54"/>
              <instrMon2 netRealizedGain=" 201546.16" netUnrealizedAppr="-174384.17"/>
              <instrMon3 netRealizedGain="179246.42" netUnrealizedAppr="242937.51"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </otherCategory>
          </equityContracts>
          <foreignExchgContracts>
            <mon1 netRealizedGain="549.00" netUnrealizedAppr="N/A"/>
            <mon2 netRealizedGain="-524.15" netUnrealizedAppr="N/A"/>
            <mon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="549" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="-524.15" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </otherCategory>
          </foreignExchgContracts>
          <interestRtContracts>
            <mon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </otherCategory>
          </interestRtContracts>
          <otherContracts>
            <mon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <mon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/>
            </otherCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="-7606779.79" netUnrealizedAppr="25856082.49"/>
        <othMon2 netRealizedGain="6466808.4" netUnrealizedAppr="-7535361.82"/>
        <othMon3 netRealizedGain="14785031.67" netUnrealizedAppr="22756202.67"/>
      </returnInfo>
      <mon1Flow redemption="-15176636" reinvestment="0" sales="2609304.78"/>
      <mon2Flow redemption="-20640855.97" reinvestment="0" sales="3171607.8"/>
      <mon3Flow redemption="-18021147.08" reinvestment="20404044.69" sales="3557110.68"/>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>X5 Retail Group Nv</name>
        <lei>213800J17UJJJDGUVF56</lei>
        <title>X5 Retail Group Nv GDR REP 0.25 SHS EUR1 REGS</title>
        <cusip>98387E205</cusip>
        <identifiers>
          <isin value="US98387E2054"/>
          <ticker value="FIVE"/>
        </identifiers>
        <balance>34365</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1186045.4</valUSD>
        <pctVal>0.2102530153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nestle SA/Ag</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
        <title>Nestle SA/Ag CHF0.10 (REGD)</title>
        <cusip>H57312649</cusip>
        <identifiers>
          <isin value="CH0038863350"/>
          <ticker value="NESN"/>
        </identifiers>
        <balance>5104</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".9678"/>
        <valUSD>552949.72</valUSD>
        <pctVal>0.0980226777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TUPY SA</name>
        <lei>N/A</lei>
        <title>TUPY SA COM NPV</title>
        <cusip>P9414P108</cusip>
        <identifiers>
          <isin value="BRTUPYACNOR1"/>
          <ticker value="TUPY3"/>
        </identifiers>
        <balance>26100</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>164247.14</valUSD>
        <pctVal>0.0291164710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oil Company Lukoil Pjsc</name>
        <lei>549300LCJ1UJXHYBWI24</lei>
        <title>Oil Company Lukoil Pjsc SPON ADR EACH REP 1 ORD SHS</title>
        <cusip>69343P105</cusip>
        <identifiers>
          <isin value="US69343P1057"/>
          <ticker value="LUKOY"/>
        </identifiers>
        <balance>25991</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2582004.64</valUSD>
        <pctVal>0.4577179432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Notre Dame Intermedica Participacoes SA</name>
        <lei>N/A</lei>
        <title>Notre Dame Intermedica Participacoes SA COM NPV 144A/REG S</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRGNDIACNOR2"/>
          <ticker value="GNDI3"/>
        </identifiers>
        <balance>229200</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>3892961.62</valUSD>
        <pctVal>0.6901143236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hapvida Participacoes e Investimentos SA</name>
        <lei>N/A</lei>
        <title>Hapvida Participacoes e Investimentos SA COM NPV 144A/REG S</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRHAPVACNOR4"/>
          <ticker value="HAPV3"/>
        </identifiers>
        <balance>91000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>1447257.73</valUSD>
        <pctVal>0.2565587301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ecopetrol S.A.</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol S.A. SPON ADR EA REPR 20 ORD COP250</title>
        <cusip>279158109</cusip>
        <identifiers>
          <isin value="US2791581091"/>
          <ticker value="EC"/>
        </identifiers>
        <balance>18514</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>369539.44</valUSD>
        <pctVal>0.0655091125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>SK Holdings Co Ltd KRW200</title>
        <cusip>Y8T642129</cusip>
        <identifiers>
          <isin value="KR7034730002"/>
          <ticker value="A034730"/>
        </identifiers>
        <balance>1479</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>334122.49</valUSD>
        <pctVal>0.0592306677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Medical System Holdings Limited</name>
        <lei>529900Z57DVJXUBLHX66</lei>
        <title>China Medical System Holdings Limited USD0.005</title>
        <cusip>G21108124</cusip>
        <identifiers>
          <isin value="KYG211081248"/>
          <ticker value="867"/>
        </identifiers>
        <balance>64000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>92249.45</valUSD>
        <pctVal>0.0163532737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Globant S.A</name>
        <lei>2221008DCMSPYS42DS88</lei>
        <title>Globant S.A USD1.20</title>
        <cusip>L44385109</cusip>
        <identifiers>
          <isin value="LU0974299876"/>
          <ticker value="GLOB"/>
        </identifiers>
        <balance>2800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>296940</valUSD>
        <pctVal>0.0526392416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rumo SA</name>
        <lei>N/A</lei>
        <title>Rumo SA COM NPV</title>
        <cusip>P8S114104</cusip>
        <identifiers>
          <isin value="BRRAILACNOR9"/>
          <ticker value="RAIL3"/>
        </identifiers>
        <balance>63500</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>412159.67</valUSD>
        <pctVal>0.0730644994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wuxi Biologics (Cayman) Inc</name>
        <lei>5493001TD2TH6VDTJU11</lei>
        <title>Wuxi Biologics (Cayman) Inc USD0.000025</title>
        <cusip>G97008109</cusip>
        <identifiers>
          <isin value="KYG970081090"/>
          <ticker value="2269"/>
        </identifiers>
        <balance>79500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1008336.74</valUSD>
        <pctVal>0.1787501895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Credicorp</name>
        <lei>N/A</lei>
        <title>Credicorp COM STK USD5</title>
        <cusip>G2519Y108</cusip>
        <identifiers>
          <isin value="BMG2519Y1084"/>
          <ticker value="BAP"/>
        </identifiers>
        <balance>1030</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>219523.9</valUSD>
        <pctVal>0.0389155102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GPO Fin Banorte</name>
        <lei>N/A</lei>
        <title>GPO Fin Banorte COM NPV SERIES O</title>
        <cusip>P49501201</cusip>
        <identifiers>
          <isin value="MXP370711014"/>
          <ticker value="GFNORTE O"/>
        </identifiers>
        <balance>90600</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>505817.06</valUSD>
        <pctVal>0.0896673618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAE Inc</name>
        <lei>549300FFM2BEH2GF1E44</lei>
        <title>CAE Inc COM</title>
        <cusip>124765108</cusip>
        <identifiers>
          <isin value="CA1247651088"/>
          <ticker value="CAE"/>
        </identifiers>
        <balance>23300</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>616883.45</valUSD>
        <pctVal>0.1093563581</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>Petrobras Distribuidora SA</name>
        <lei>N/A</lei>
        <title>Petrobras Distribuidora SA COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRBRDTACNOR1"/>
          <ticker value="BRDT3"/>
        </identifiers>
        <balance>65200</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>487989.73</valUSD>
        <pctVal>0.0865070698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turk Telekomunikasyon A.S.</name>
        <lei>789000A2TXOI10JZLF90</lei>
        <title>Turk Telekomunikasyon A.S. TRY1 (D SHARES)</title>
        <cusip>M9T40N131</cusip>
        <identifiers>
          <isin value="TRETTLK00013"/>
          <ticker value="TTKOM"/>
        </identifiers>
        <balance>729657</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.949"/>
        <valUSD>904855.83</valUSD>
        <pctVal>0.1604058889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Itau Unibanco Holdings S.A.</name>
        <lei>5493002W2IVG62O3ZJ94</lei>
        <title>Itau Unibanco Holdings S.A. PRF NPV</title>
        <cusip>P5968U113</cusip>
        <identifiers>
          <isin value="BRITUBACNPR1"/>
          <ticker value="ITUB4"/>
        </identifiers>
        <balance>26541</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>244235.25</valUSD>
        <pctVal>0.0432961485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Redefine properties ltd</name>
        <lei>37890061EC026A7DA532</lei>
        <title>Redefine properties ltd NPV (POST CONVERSION)</title>
        <cusip>S6815L196</cusip>
        <identifiers>
          <isin value="ZAE000190252"/>
          <ticker value="RDF"/>
        </identifiers>
        <balance>710647</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>384232.09</valUSD>
        <pctVal>0.0681137126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hangzhou Tigermed Consulting Co Ltd.</name>
        <lei>N/A</lei>
        <title>Hangzhou Tigermed Consulting Co Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100001KV8"/>
          <ticker value="300347"/>
        </identifiers>
        <balance>45500</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>412680.62</valUSD>
        <pctVal>0.0731568494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alfa SAB de CV</name>
        <lei>549300ZCGJ6T8YDJ4M34</lei>
        <title>Alfa SAB de CV SER'A'NPV</title>
        <cusip>P0156P117</cusip>
        <identifiers>
          <isin value="MXP000511016"/>
          <ticker value="ALFA A"/>
        </identifiers>
        <balance>192200</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>159188.26</valUSD>
        <pctVal>0.0282196716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Magazine Luiza Sa</name>
        <lei>N/A</lei>
        <title>Magazine Luiza Sa COM NPV</title>
        <cusip>P6425Q109</cusip>
        <identifiers>
          <isin value="BRMGLUACNOR2"/>
          <ticker value="MGLU3"/>
        </identifiers>
        <balance>278600</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>3311142.28</valUSD>
        <pctVal>0.5869738615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Airbus SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
        <title>Airbus SE EUR1</title>
        <cusip>N0280G100</cusip>
        <identifiers>
          <isin value="NL0000235190"/>
          <ticker value="AIR"/>
        </identifiers>
        <balance>11833</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1736110.72</valUSD>
        <pctVal>0.3077643687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOCALIZA RENT A CAR SA</name>
        <lei>N/A</lei>
        <title>LOCALIZA RENT A CAR SA COM NPV</title>
        <cusip>P6330Z111</cusip>
        <identifiers>
          <isin value="BRRENTACNOR4"/>
          <ticker value="RENT3"/>
        </identifiers>
        <balance>29400</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>347178.34</valUSD>
        <pctVal>0.0615451085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lojas Renner Sa</name>
        <lei>N/A</lei>
        <title>Lojas Renner Sa COM NPV</title>
        <cusip>P6332C102</cusip>
        <identifiers>
          <isin value="BRLRENACNOR1"/>
          <ticker value="LREN3"/>
        </identifiers>
        <balance>28500</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>398777.3</valUSD>
        <pctVal>0.0706921757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Asian Paints Ltd</name>
        <lei>335800HEHXGYRUNERD75</lei>
        <title>Asian Paints Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE021A01026"/>
          <ticker value="ASIANPAINT"/>
        </identifiers>
        <balance>100278</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>2508311.7</valUSD>
        <pctVal>0.4446542250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Powszechna Kasa Oszczednosci Bank Polski SA</name>
        <lei>P4GTT6GF1W40CVIMFR43</lei>
        <title>Powszechna Kasa Oszczednosci Bank Polski SA PLN1.00</title>
        <cusip>X6919X108</cusip>
        <identifiers>
          <isin value="PLPKO0000016"/>
          <ticker value="PKO"/>
        </identifiers>
        <balance>45321</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.7939"/>
        <valUSD>411997.33</valUSD>
        <pctVal>0.0730357210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOC Holdings AG</name>
        <lei>7890005U0H950VH19H45</lei>
        <title>KOC Holdings AG TRY1 (B SHARES)</title>
        <cusip>M63751107</cusip>
        <identifiers>
          <isin value="TRAKCHOL91Q8"/>
          <ticker value="KCHOL"/>
        </identifiers>
        <balance>97963</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.949"/>
        <valUSD>334812.66</valUSD>
        <pctVal>0.0593530158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BIM Birlesik Magaz</name>
        <lei>N/A</lei>
        <title>BIM Birlesik Magaz TRY1</title>
        <cusip>M2014F102</cusip>
        <identifiers>
          <isin value="TREBIMM00018"/>
          <ticker value="BIMAS"/>
        </identifiers>
        <balance>27025</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.949"/>
        <valUSD>212100.09</valUSD>
        <pctVal>0.0375994742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW Oriental Educa</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>NEW Oriental Educa SPON ADS EA REP 1 ORD SHS</title>
        <cusip>647581107</cusip>
        <identifiers>
          <isin value="US6475811070"/>
          <ticker value="EDU"/>
        </identifiers>
        <balance>3479</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>421828.75</valUSD>
        <pctVal>0.0747785596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Aluminum</name>
        <lei>335800OM1V78CX7SSC72</lei>
        <title>National Aluminum INR5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE139A01034"/>
          <ticker value="NATIONALUM"/>
        </identifiers>
        <balance>177543</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>108796.5</valUSD>
        <pctVal>0.0192866076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WIN Semiconductors</name>
        <lei>529900G3R9LZ0M2UBM97</lei>
        <title>WIN Semiconductors TWD10</title>
        <cusip>Y9588T100</cusip>
        <identifiers>
          <isin value="TW0003105003"/>
          <ticker value="3105"/>
        </identifiers>
        <balance>230000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>2257777.59</valUSD>
        <pctVal>0.4002414630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Accton Technology</name>
        <lei>529900M1YRZ0GWMDF920</lei>
        <title>Accton Technology TWD10</title>
        <cusip>Y0002S109</cusip>
        <identifiers>
          <isin value="TW0002345006"/>
          <ticker value="2345"/>
        </identifiers>
        <balance>93000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>521384.61</valUSD>
        <pctVal>0.0924270575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DigiComBerhad</name>
        <lei>N/A</lei>
        <title>DigiComBerhad MYR0.01</title>
        <cusip>Y2070F100</cusip>
        <identifiers>
          <isin value="MYL6947OO005"/>
          <ticker value="DIGI"/>
        </identifiers>
        <balance>84580</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>92235.16</valUSD>
        <pctVal>0.0163507405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anritsu Corp</name>
        <lei>E6RNIO2WCERJ7MVUSO82</lei>
        <title>Anritsu Corp NPV</title>
        <cusip>J01554104</cusip>
        <identifiers>
          <isin value="JP3128800004"/>
          <ticker value="6754"/>
        </identifiers>
        <balance>45000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>887949.09</valUSD>
        <pctVal>0.1574087919</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>LG Uplus Corp.</name>
        <lei>N/A</lei>
        <title>LG Uplus Corp. KRW5000</title>
        <cusip>Y5293P102</cusip>
        <identifiers>
          <isin value="KR7032640005"/>
          <ticker value="A032640"/>
        </identifiers>
        <balance>12659</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>155295.69</valUSD>
        <pctVal>0.0275296267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lotte Fine Chemical Co Ltd</name>
        <lei>N/A</lei>
        <title>Lotte Fine Chemical Co Ltd KRW5000</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7004000006"/>
          <ticker value="A004000"/>
        </identifiers>
        <balance>1758</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>68438.6</valUSD>
        <pctVal>0.0121322691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicony Electroni</name>
        <lei>N/A</lei>
        <title>Chicony Electroni TWD10</title>
        <cusip>Y1364B106</cusip>
        <identifiers>
          <isin value="TW0002385002"/>
          <ticker value="2385"/>
        </identifiers>
        <balance>78200</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>232423.7</valUSD>
        <pctVal>0.0412022877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Largan Precision C</name>
        <lei>N/A</lei>
        <title>Largan Precision C TWD10</title>
        <cusip>Y52144105</cusip>
        <identifiers>
          <isin value="TW0003008009"/>
          <ticker value="3008"/>
        </identifiers>
        <balance>28200</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>4711926.78</valUSD>
        <pctVal>0.8352941745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CTBC Financial Holding Company Limited</name>
        <lei>549300IWDYIFW6JXM387</lei>
        <title>CTBC Financial Holding Company Limited TWD10</title>
        <cusip>Y15093100</cusip>
        <identifiers>
          <isin value="TW0002891009"/>
          <ticker value="2891"/>
        </identifiers>
        <balance>1486000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>1111211.89</valUSD>
        <pctVal>0.1969871056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CTBC Financial Holding Company Limited</name>
        <lei>549300IWDYIFW6JXM387</lei>
        <title>CTBC Financial Holding Company Limited TWD10</title>
        <cusip>Y15093100</cusip>
        <identifiers>
          <isin value="TW0002891009"/>
          <ticker value="2891"/>
        </identifiers>
        <balance>368000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>275185.72</valUSD>
        <pctVal>0.0487828100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Naver Corp</name>
        <lei>N/A</lei>
        <title>Naver Corp KRW100</title>
        <cusip>Y62579100</cusip>
        <identifiers>
          <isin value="KR7035420009"/>
          <ticker value="A035420"/>
        </identifiers>
        <balance>20081</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>3234911.24</valUSD>
        <pctVal>0.5734602085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNOOC Limited</name>
        <lei>549300XIVJCBIGMRUD48</lei>
        <title>CNOOC Limited NPV</title>
        <cusip>Y1662W117</cusip>
        <identifiers>
          <isin value="HK0883013259"/>
          <ticker value="883"/>
        </identifiers>
        <balance>1183000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1971680.06</valUSD>
        <pctVal>0.3495242912</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>Ping An Insurance (Group) Company of China Ltd.</name>
        <lei>529900M9MC28JLN35U89</lei>
        <title>Ping An Insurance (Group) Company of China Ltd. 'H' CNY1</title>
        <cusip>Y69790106</cusip>
        <identifiers>
          <isin value="CNE1000003X6"/>
          <ticker value="2318"/>
        </identifiers>
        <balance>509500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>6035669.98</valUSD>
        <pctVal>1.0699571977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Consultancy S</name>
        <lei>335800ZJKU9GPQRE2U66</lei>
        <title>Tata Consultancy S INR1</title>
        <cusip>Y85279100</cusip>
        <identifiers>
          <isin value="INE467B01029"/>
          <ticker value="TCS"/>
        </identifiers>
        <balance>7338</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>222147.3</valUSD>
        <pctVal>0.0393805664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reliance Industries Limited</name>
        <lei>5493003UOETFYRONLG31</lei>
        <title>Reliance Industries Limited INR10(100%DEMAT)</title>
        <cusip>Y72596102</cusip>
        <identifiers>
          <isin value="INE002A01018"/>
          <ticker value="RELIANCE"/>
        </identifiers>
        <balance>46384</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>985251.82</valUSD>
        <pctVal>0.1746578723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reliance Industries Limited</name>
        <lei>5493003UOETFYRONLG31</lei>
        <title>Reliance Industries Limited INR10(100%DEMAT)</title>
        <cusip>Y72596102</cusip>
        <identifiers>
          <isin value="INE002A01018"/>
          <ticker value="RELIANCE"/>
        </identifiers>
        <balance>211222</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>4486608.74</valUSD>
        <pctVal>0.7953515236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Firstrand Ltd</name>
        <lei>529900XYOP8CUZU7R671</lei>
        <title>Firstrand Ltd ZAR0.01</title>
        <cusip>S5202Z131</cusip>
        <identifiers>
          <isin value="ZAE000066304"/>
          <ticker value="FSR"/>
        </identifiers>
        <balance>90787</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>408303.51</valUSD>
        <pctVal>0.0723809090</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Construction Bank Corporation</name>
        <lei>5493001KQW6DM7KEDR62</lei>
        <title>China Construction Bank Corporation 'H'CNY1</title>
        <cusip>Y1397N101</cusip>
        <identifiers>
          <isin value="CNE1000002H1"/>
          <ticker value="939"/>
        </identifiers>
        <balance>1028569</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>890472.32</valUSD>
        <pctVal>0.1578560908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hana Financial Group Inc</name>
        <lei>N/A</lei>
        <title>Hana Financial Group Inc KRW5000</title>
        <cusip>Y29975102</cusip>
        <identifiers>
          <isin value="KR7086790003"/>
          <ticker value="A086790"/>
        </identifiers>
        <balance>15647</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>496666.71</valUSD>
        <pctVal>0.0880452581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Airports Of Thaila</name>
        <lei>5299006VS4CU6LW0TY22</lei>
        <title>Airports Of Thaila THB1.00(NVDR)</title>
        <cusip>Y0028Q129</cusip>
        <identifiers>
          <isin value="TH0765010R16"/>
          <ticker value="AOT-R"/>
        </identifiers>
        <balance>553800</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>1368610.49</valUSD>
        <pctVal>0.2426167517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shimao Property Holdings Ltd.</name>
        <lei>254900WTJ6B5CU69ZD26</lei>
        <title>Shimao Property Holdings Ltd. HKD0.10</title>
        <cusip>G81043104</cusip>
        <identifiers>
          <isin value="KYG810431042"/>
          <ticker value="813"/>
        </identifiers>
        <balance>120500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>467942.6</valUSD>
        <pctVal>0.0829532686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Industrial and Commercial Bank of China Limited</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>Industrial and Commercial Bank of China Limited 'H'CNY1</title>
        <cusip>Y3990B112</cusip>
        <identifiers>
          <isin value="CNE1000003G1"/>
          <ticker value="1398"/>
        </identifiers>
        <balance>817000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>630643.31</valUSD>
        <pctVal>0.1117956003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK Hynix Inc.</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK Hynix Inc. KRW5000</title>
        <cusip>Y8085F100</cusip>
        <identifiers>
          <isin value="KR7000660001"/>
          <ticker value="A000660"/>
        </identifiers>
        <balance>75834</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>6163136.44</valUSD>
        <pctVal>1.0925534723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Keyence Corp</name>
        <lei>529900M7PQBS7A89DZ11</lei>
        <title>Keyence Corp NPV</title>
        <cusip>J32491102</cusip>
        <identifiers>
          <isin value="JP3236200006"/>
          <ticker value="6861"/>
        </identifiers>
        <balance>3280</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1160966.49</valUSD>
        <pctVal>0.2058072188</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>CP All Public Company Limited</name>
        <lei>N/A</lei>
        <title>CP All Public Company Limited THB1(NVDR)</title>
        <cusip>Y1772K128</cusip>
        <identifiers>
          <isin value="TH0737010R15"/>
          <ticker value="CPALL-R"/>
        </identifiers>
        <balance>139500</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>335522.94</valUSD>
        <pctVal>0.0594789287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SLC Agricola Sa</name>
        <lei>54930017BQDYJPIJXG79</lei>
        <title>SLC Agricola Sa COM NPV</title>
        <cusip>P8711D107</cusip>
        <identifiers>
          <isin value="BRSLCEACNOR2"/>
          <ticker value="SLCE3"/>
        </identifiers>
        <balance>35400</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>218717.03</valUSD>
        <pctVal>0.0387724745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Limited</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Limited N/VTG PFD KRW100</title>
        <cusip>Y74718118</cusip>
        <identifiers>
          <isin value="KR7005931001"/>
          <ticker value="A005935"/>
        </identifiers>
        <balance>24871</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>970325.18</valUSD>
        <pctVal>0.1720117922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SM Prime Holdings Inc</name>
        <lei>254900SZK83MIAB8CU32</lei>
        <title>SM Prime Holdings Inc ORD PHP1</title>
        <cusip>Y8076N112</cusip>
        <identifiers>
          <isin value="PHY8076N1120"/>
          <ticker value="SMPH"/>
        </identifiers>
        <balance>1676600</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>1390608.85</valUSD>
        <pctVal>0.2465164519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sony Corporation</name>
        <lei>529900R5WX9N2OI2N910</lei>
        <title>Sony Corporation NPV</title>
        <cusip>J76379106</cusip>
        <identifiers>
          <isin value="JP3435000009"/>
          <ticker value="6758"/>
        </identifiers>
        <balance>11600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>789574.76</valUSD>
        <pctVal>0.1399697466</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>Bidvest Group</name>
        <lei>5299002ARE4TRMIRGM72</lei>
        <title>Bidvest Group ZAR0.05</title>
        <cusip>S1201R162</cusip>
        <identifiers>
          <isin value="ZAE000117321"/>
          <ticker value="BVT"/>
        </identifiers>
        <balance>21806</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>319237.66</valUSD>
        <pctVal>0.0565919994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sun Pharmaceutical Industries Limited</name>
        <lei>335800KJ7GE29LB4SS73</lei>
        <title>Sun Pharmaceutical Industries Limited INR1(DEMAT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE044A01036"/>
          <ticker value="SUNPHARMA"/>
        </identifiers>
        <balance>30707</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>186112.95</valUSD>
        <pctVal>0.0329926737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICICI Bank Limited</name>
        <lei>R7RX8ER1V4666J8D1I38</lei>
        <title>ICICI Bank Limited INR2</title>
        <cusip>Y3860Z132</cusip>
        <identifiers>
          <isin value="INE090A01021"/>
          <ticker value="ICICIBANK"/>
        </identifiers>
        <balance>256807</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>1945381.61</valUSD>
        <pctVal>0.3448623041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MMC Norilsk Nickel Public Joint Stock Company</name>
        <lei>253400JPTEEW143W3E47</lei>
        <title>MMC Norilsk Nickel Public Joint Stock Company SPON ADR EACH REPR 0.1 ORD SHS</title>
        <cusip>55315J102</cusip>
        <identifiers>
          <isin value="US55315J1025"/>
          <ticker value="NILSY"/>
        </identifiers>
        <balance>21462</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>656412.87</valUSD>
        <pctVal>0.1163638299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suzhou Victory Pre</name>
        <lei>N/A</lei>
        <title>Suzhou Victory Pre 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000Q01"/>
          <ticker value="002426"/>
        </identifiers>
        <balance>171686</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>58185.53</valUSD>
        <pctVal>0.0103146837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LI Ning Co Ltd</name>
        <lei>529900T77L2FV3FZ3U81</lei>
        <title>LI Ning Co Ltd HKD0.1</title>
        <cusip>G5496K124</cusip>
        <identifiers>
          <isin value="KYG5496K1242"/>
          <ticker value="2331"/>
        </identifiers>
        <balance>763500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2288534.65</valUSD>
        <pctVal>0.4056938383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Riyad Bank Ltd</name>
        <lei>54930037RJ782ISGGM71</lei>
        <title>Riyad Bank Ltd SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA0007879048"/>
          <ticker value="1010"/>
        </identifiers>
        <balance>66052</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>422638.28</valUSD>
        <pctVal>0.0749220668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Visa Inc</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa Inc COM CL A</title>
        <cusip>92826C839</cusip>
        <identifiers>
          <isin value="US92826C8394"/>
          <ticker value="V"/>
        </identifiers>
        <balance>12300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2311170</valUSD>
        <pctVal>0.4097064592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Facebook, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Facebook, Inc. CL A</title>
        <cusip>30303M102</cusip>
        <identifiers>
          <isin value="US30303M1027"/>
          <ticker value="FB"/>
        </identifiers>
        <balance>3800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>779950</valUSD>
        <pctVal>0.1382635431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Group Holding Ltd</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd SPON ADS EACH REP 8 ORD SHS</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <isin value="US01609W1027"/>
          <ticker value="BABA"/>
        </identifiers>
        <balance>83162</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17638660.2</valUSD>
        <pctVal>3.1268461499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nmdc Ltd</name>
        <lei>335800IXHXOHQ7B2HP66</lei>
        <title>Nmdc Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE584A01023"/>
          <ticker value="NMDC"/>
        </identifiers>
        <balance>144909</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>262228.15</valUSD>
        <pctVal>0.0464857915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zoomlion Heavy Industry Science and Technology Co., Ltd.</name>
        <lei>529900QZ3EMAU0QKFK85</lei>
        <title>Zoomlion Heavy Industry Science and Technology Co., Ltd. CNY1 H</title>
        <cusip>Y9895V103</cusip>
        <identifiers>
          <isin value="CNE100000X85"/>
          <ticker value="1157"/>
        </identifiers>
        <balance>957000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>803428.04</valUSD>
        <pctVal>0.1424255496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qualicorp Consult E Corret De Segur</name>
        <lei>N/A</lei>
        <title>Qualicorp Consult E Corret De Segur COM NPV</title>
        <cusip>P7S21H105</cusip>
        <identifiers>
          <isin value="BRQUALACNOR6"/>
          <ticker value="QUAL3"/>
        </identifiers>
        <balance>39700</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>366856.92</valUSD>
        <pctVal>0.0650335760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Meituan Dianping</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>Meituan Dianping USD0.00001 (A &amp; B CLASS)</title>
        <cusip>G59669104</cusip>
        <identifiers>
          <isin value="KYG596691041"/>
          <ticker value="3690"/>
        </identifiers>
        <balance>199400</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2611295.41</valUSD>
        <pctVal>0.4629103858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Doosan Bobcat Inc</name>
        <lei>N/A</lei>
        <title>Doosan Bobcat Inc KRW500</title>
        <cusip>Y2103B100</cusip>
        <identifiers>
          <isin value="KR7241560002"/>
          <ticker value="A241560"/>
        </identifiers>
        <balance>2736</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>81012.88</valUSD>
        <pctVal>0.0143613409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Changjiang Securities Company Limited</name>
        <lei>N/A</lei>
        <title>Changjiang Securities Company Limited 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000SH3"/>
          <ticker value="000783"/>
        </identifiers>
        <balance>101500</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>104068.82</valUSD>
        <pctVal>0.0184485208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Santander Mexico SA</name>
        <lei>SCRYQ25DTVRHYYMM6P89</lei>
        <title>Banco Santander Mexico SA SPON ADS EACH REPR 5 ORD SHS SERIES B</title>
        <cusip>05969B103</cusip>
        <identifiers>
          <isin value="US05969B1035"/>
          <ticker value="BSMX"/>
        </identifiers>
        <balance>24096</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>163370.88</valUSD>
        <pctVal>0.0289611343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Infosys Ltd</name>
        <lei>335800TYLGG93MM7PR89</lei>
        <title>Infosys Ltd SPON ADR EACH REP 1 ORD SHS</title>
        <cusip>456788108</cusip>
        <identifiers>
          <isin value="US4567881085"/>
          <ticker value="INFY"/>
        </identifiers>
        <balance>14315</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>147730.8</valUSD>
        <pctVal>0.0261885811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CYRELA BRAZIL REALTY S.A. EMPREENDIMENTOS E PARTICIPACOES</name>
        <lei>N/A</lei>
        <title>CYRELA BRAZIL REALTY S.A. EMPREENDIMENTOS E PARTICIPACOES COM NPV</title>
        <cusip>P34085103</cusip>
        <identifiers>
          <isin value="BRCYREACNOR7"/>
          <ticker value="CYRE3"/>
        </identifiers>
        <balance>41500</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>306866.46</valUSD>
        <pctVal>0.0543989282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Coca-Cola FEMSA SAB de CV</name>
        <lei>5493008KEVFYPMGTXO33</lei>
        <title>Coca-Cola FEMSA SAB de CV ADS EA REP 10 UNTS(3 SER'B'SHS &amp; 5 SER'L</title>
        <cusip>191241108</cusip>
        <identifiers>
          <isin value="US1912411089"/>
          <ticker value="KOF"/>
        </identifiers>
        <balance>5132</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>311101.84</valUSD>
        <pctVal>0.0551497438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WULIANGYE YIBIN CO. LTD.</name>
        <lei>N/A</lei>
        <title>WULIANGYE YIBIN CO. LTD. 'A'CNY1</title>
        <cusip>Y9718N106</cusip>
        <identifiers>
          <isin value="CNE000000VQ8"/>
          <ticker value="000858"/>
        </identifiers>
        <balance>11300</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>215807.31</valUSD>
        <pctVal>0.0382566617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cencosud S.A.</name>
        <lei>549300NLTGCFV7482429</lei>
        <title>Cencosud S.A. COM NPV</title>
        <cusip>P2205J100</cusip>
        <identifiers>
          <isin value="CL0000000100"/>
          <ticker value="CENCOSUD"/>
        </identifiers>
        <balance>204732</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="751.95"/>
        <valUSD>269724.13</valUSD>
        <pctVal>0.0478146213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Santander (Brasil) S.A.</name>
        <lei>549300D1H731B30TSI43</lei>
        <title>Banco Santander (Brasil) S.A. SPON ADR EA REPR 1 UNIT (COM+PRF)</title>
        <cusip>05967A107</cusip>
        <identifiers>
          <isin value="US05967A1079"/>
          <ticker value="BSBR"/>
        </identifiers>
        <balance>11503</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>139531.39</valUSD>
        <pctVal>0.0247350527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kunlun Energy Company Limited</name>
        <lei>5299007GRIKP15GM4927</lei>
        <title>Kunlun Energy Company Limited ORD HKD0.01</title>
        <cusip>G5320C108</cusip>
        <identifiers>
          <isin value="BMG5320C1082"/>
          <ticker value="135"/>
        </identifiers>
        <balance>62400</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>55067.28</valUSD>
        <pctVal>0.0097619043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qinghai Salt Lake Potash Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Qinghai Salt Lake Potash Co., Ltd. 'A'CNY1</title>
        <cusip>Y7170U105</cusip>
        <identifiers>
          <isin value="CNE000000SW2"/>
          <ticker value="000792"/>
        </identifiers>
        <balance>69291</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>87562.66</valUSD>
        <pctVal>0.0155224356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO ACTINVER SA</name>
        <lei>N/A</lei>
        <title>BANCO ACTINVER SA CBFI (FIBRA UNO ADMINISTRACION SA DE CV)</title>
        <cusip>P3515D163</cusip>
        <identifiers>
          <isin value="MXCFFU000001"/>
          <ticker value="FUNO 11"/>
        </identifiers>
        <balance>181200</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>280604.84</valUSD>
        <pctVal>0.0497434699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reinet Investments</name>
        <lei>222100830RQTFVV22S80</lei>
        <title>Reinet Investments ORD NPV</title>
        <cusip>L7925N152</cusip>
        <identifiers>
          <isin value="LU0383812293"/>
          <ticker value="REINI"/>
        </identifiers>
        <balance>8388</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>166200.06</valUSD>
        <pctVal>0.0294626696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Highwealth Construction Corp</name>
        <lei>N/A</lei>
        <title>Highwealth Construction Corp TWD10</title>
        <cusip>Y3721G109</cusip>
        <identifiers>
          <isin value="TW0002542008"/>
          <ticker value="2542"/>
        </identifiers>
        <balance>60000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>92710.34</valUSD>
        <pctVal>0.0164349767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cspc Pharmaceutical Group Limited</name>
        <lei>529900M3XQCW234H8O91</lei>
        <title>Cspc Pharmaceutical Group Limited NPV</title>
        <cusip>Y1837N109</cusip>
        <identifiers>
          <isin value="HK1093012172"/>
          <ticker value="1093"/>
        </identifiers>
        <balance>62000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>147988.05</valUSD>
        <pctVal>0.0262341844</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>CITIC Pacific Limited</name>
        <lei>2549006I3Q3M98KHOT11</lei>
        <title>CITIC Pacific Limited NPV</title>
        <cusip>Y1639J116</cusip>
        <identifiers>
          <isin value="HK0267001375"/>
          <ticker value="267"/>
        </identifiers>
        <balance>195000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>261373.32</valUSD>
        <pctVal>0.0463342539</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>Hyundai Mobis</name>
        <lei>988400HJA9E0ZVDHRS65</lei>
        <title>Hyundai Mobis KRW5000</title>
        <cusip>Y3849A109</cusip>
        <identifiers>
          <isin value="KR7012330007"/>
          <ticker value="A012330"/>
        </identifiers>
        <balance>2566</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>567431.02</valUSD>
        <pctVal>0.1005898112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co. TWD10</title>
        <cusip>Y84629107</cusip>
        <identifiers>
          <isin value="TW0002330008"/>
          <ticker value="2330"/>
        </identifiers>
        <balance>342590</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>3794003.16</valUSD>
        <pctVal>0.6725717282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tsingtao Brewery Group Company Limited</name>
        <lei>5299001HPFTEVOPKOQ55</lei>
        <title>Tsingtao Brewery Group Company Limited SER'H'CNY1</title>
        <cusip>Y8997D102</cusip>
        <identifiers>
          <isin value="CNE1000004K1"/>
          <ticker value="168"/>
        </identifiers>
        <balance>16000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>107517.39</valUSD>
        <pctVal>0.0190598568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Huaxia Bank Co. Ltd.</name>
        <lei>300300AKNDEHIGVDZW37</lei>
        <title>Huaxia Bank Co. Ltd. 'A'CNY1</title>
        <cusip>Y37467100</cusip>
        <identifiers>
          <isin value="CNE000001FW7"/>
          <ticker value="HUAXIA"/>
        </identifiers>
        <balance>82800</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>91216.74</valUSD>
        <pctVal>0.0161702028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Group Holding Ltd</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd SPON ADS EACH REP 8 ORD SHS</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <isin value="US01609W1027"/>
          <ticker value="BABA"/>
        </identifiers>
        <balance>21167</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4489520.7</valUSD>
        <pctVal>0.7958677335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goertek Inc</name>
        <lei>N/A</lei>
        <title>Goertek Inc 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000BP1"/>
          <ticker value="002241"/>
        </identifiers>
        <balance>34300</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>98070.29</valUSD>
        <pctVal>0.0173851475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dongxing Securities Co Ltd</name>
        <lei>N/A</lei>
        <title>Dongxing Securities Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100002177"/>
          <ticker value="DXSECU"/>
        </identifiers>
        <balance>50900</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>96154.74</valUSD>
        <pctVal>0.0170455735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Itau Unibanco Holdings S.A.</name>
        <lei>5493002W2IVG62O3ZJ94</lei>
        <title>Itau Unibanco Holdings S.A. ADR EACH REPR 1 PRF NPV</title>
        <cusip>465562106</cusip>
        <identifiers>
          <isin value="US4655621062"/>
          <ticker value="ITUB"/>
        </identifiers>
        <balance>1053764</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9641940.6</valUSD>
        <pctVal>1.7092491437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD.com Inc</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.com Inc SPON ADS EACH REPR 2 ORD SHS CLASS A</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
          <ticker value="JD"/>
        </identifiers>
        <balance>12241</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>431250.43</valUSD>
        <pctVal>0.0764487626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>B 0 01/09/20</title>
        <cusip>912796TA7</cusip>
        <identifiers>
          <isin value="US912796TA76"/>
          <ticker value="B"/>
        </identifiers>
        <balance>1990000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1989455.85</valUSD>
        <pctVal>0.3526754467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-01-09</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>N/A</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>Tenaris SA</name>
        <lei>549300Y7C05BKC4HZB40</lei>
        <title>Tenaris SA SPONS ADS EACH REP 2 ORD SHS</title>
        <cusip>88031M109</cusip>
        <identifiers>
          <isin value="US88031M1099"/>
          <ticker value="TS"/>
        </identifiers>
        <balance>175689</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3977598.96</valUSD>
        <pctVal>0.7051181809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco do Brasil S.A.</name>
        <lei>QE0Q0253K88YAGNPE356</lei>
        <title>Banco do Brasil S.A. COM NPV</title>
        <cusip>P11427112</cusip>
        <identifiers>
          <isin value="BRBBASACNOR3"/>
          <ticker value="BBAS3"/>
        </identifiers>
        <balance>38100</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>501480.62</valUSD>
        <pctVal>0.0888986311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alfa SAB de CV</name>
        <lei>549300ZCGJ6T8YDJ4M34</lei>
        <title>Alfa SAB de CV SER'A'NPV</title>
        <cusip>P0156P117</cusip>
        <identifiers>
          <isin value="MXP000511016"/>
          <ticker value="ALFA A"/>
        </identifiers>
        <balance>5393188</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>4466868.92</valUSD>
        <pctVal>0.7918522000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ishares Inc</name>
        <lei>549300MGJZCNMJLBAJ67</lei>
        <title>Ishares Inc CORE MSCI EMKT</title>
        <cusip>46434G103</cusip>
        <identifiers>
          <isin value="US46434G1031"/>
          <ticker value="IEMG"/>
        </identifiers>
        <balance>76801</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4128821.76</valUSD>
        <pctVal>0.7319257969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turkcell Iletisim Hizmetleri AS</name>
        <lei>7890003EX1LTLS2FFL84</lei>
        <title>Turkcell Iletisim Hizmetleri AS TRY1</title>
        <cusip>M8903B102</cusip>
        <identifiers>
          <isin value="TRATCELL91M1"/>
          <ticker value="TCELL"/>
        </identifiers>
        <balance>2195692</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.949"/>
        <valUSD>5095310.68</valUSD>
        <pctVal>0.9032575264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Inst Fds</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>Northern Inst Fds GOVT PTFL</title>
        <cusip>665278404</cusip>
        <identifiers>
          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
        </identifiers>
        <balance>9535924.44</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9535924.44</valUSD>
        <pctVal>1.6904554134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Inst Fds</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>Northern Inst Fds GOVT PTFL</title>
        <cusip>665278404</cusip>
        <identifiers>
          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
        </identifiers>
        <balance>499451.74</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>499451.74</valUSD>
        <pctVal>0.0885389668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Inst Fds</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>Northern Inst Fds GOVT PTFL</title>
        <cusip>665278404</cusip>
        <identifiers>
          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
        </identifiers>
        <balance>1108398.81</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1108398.81</valUSD>
        <pctVal>0.1964884244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wal-Mart De Mexico</name>
        <lei>N/A</lei>
        <title>Wal-Mart De Mexico COM NPV</title>
        <cusip>P98180188</cusip>
        <identifiers>
          <isin value="MX01WA000038"/>
          <ticker value="WALMEX *"/>
        </identifiers>
        <balance>3234700</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>9286236.47</valUSD>
        <pctVal>1.6461926486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Yuhua Education Corp Ltd</name>
        <lei>254900MMSBZ02HKOSY64</lei>
        <title>China Yuhua Education Corp Ltd HKD0.00001</title>
        <cusip>G2120K109</cusip>
        <identifiers>
          <isin value="KYG2120K1094"/>
          <ticker value="6169"/>
        </identifiers>
        <balance>378000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>256224.48</valUSD>
        <pctVal>0.0454215071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hero Motocorp Limited</name>
        <lei>335800Q49FBMZJTRLK49</lei>
        <title>Hero Motocorp Limited INR2</title>
        <cusip>Y3194B108</cusip>
        <identifiers>
          <isin value="INE158A01026"/>
          <ticker value="HEROMOTOCO"/>
        </identifiers>
        <balance>184637</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>6324132.88</valUSD>
        <pctVal>1.1210936841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Catcher Technology</name>
        <lei>5299006PRSCU66N5JF55</lei>
        <title>Catcher Technology TWD10</title>
        <cusip>Y1148A101</cusip>
        <identifiers>
          <isin value="TW0002474004"/>
          <ticker value="2474"/>
        </identifiers>
        <balance>620000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>4698496.24</valUSD>
        <pctVal>0.8329133115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Consultancy S</name>
        <lei>335800ZJKU9GPQRE2U66</lei>
        <title>Tata Consultancy S INR1</title>
        <cusip>Y85279100</cusip>
        <identifiers>
          <isin value="INE467B01029"/>
          <ticker value="TCS"/>
        </identifiers>
        <balance>503531</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>15243670.3</valUSD>
        <pctVal>2.7022807428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Consultancy S</name>
        <lei>335800ZJKU9GPQRE2U66</lei>
        <title>Tata Consultancy S INR1</title>
        <cusip>Y85279100</cusip>
        <identifiers>
          <isin value="INE467B01029"/>
          <ticker value="TCS"/>
        </identifiers>
        <balance>1546</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>46802.91</valUSD>
        <pctVal>0.0082968603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amorepacific Corporation</name>
        <lei>N/A</lei>
        <title>Amorepacific Corporation KRW500</title>
        <cusip>Y01258105</cusip>
        <identifiers>
          <isin value="KR7090430000"/>
          <ticker value="A090430"/>
        </identifiers>
        <balance>39100</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>6743045.11</valUSD>
        <pctVal>1.1953552255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suzano S A</name>
        <lei>391200AW174YQSDMGG41</lei>
        <title>Suzano S A COM NPV</title>
        <cusip>P06768157</cusip>
        <identifiers>
          <isin value="BRSUZBACNOR0"/>
          <ticker value="SUZB3"/>
        </identifiers>
        <balance>976553</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>9654529.22</valUSD>
        <pctVal>1.7114807575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hon Hai Precision Industry Co., Ltd.</name>
        <lei>30030004CM3GSZXX7O56</lei>
        <title>Hon Hai Precision Industry Co., Ltd. TWD10</title>
        <cusip>Y36861105</cusip>
        <identifiers>
          <isin value="TW0002317005"/>
          <ticker value="2317"/>
        </identifiers>
        <balance>2328796</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>7057515.86</valUSD>
        <pctVal>1.2511021837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hyundai Motor Company</name>
        <lei>9884004RQX8PRBXQ8S60</lei>
        <title>Hyundai Motor Company KRW5000</title>
        <cusip>Y38472109</cusip>
        <identifiers>
          <isin value="KR7005380001"/>
          <ticker value="A005380"/>
        </identifiers>
        <balance>86568</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>9001394.91</valUSD>
        <pctVal>1.5956981255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Bimbo S.A.B de C.V.</name>
        <lei>5493000RIXURZEBFEV60</lei>
        <title>Grupo Bimbo S.A.B de C.V. SER'A'NPV</title>
        <cusip>P4949B104</cusip>
        <identifiers>
          <isin value="MXP495211262"/>
          <ticker value="BIMBO A"/>
        </identifiers>
        <balance>1189902</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>2168035.11</valUSD>
        <pctVal>0.3843326057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Naspers Ltd.</name>
        <lei>21380044BQ8812EEKT59</lei>
        <title>Naspers Ltd. 'N'ZAR0.02</title>
        <cusip>S53435103</cusip>
        <identifiers>
          <isin value="ZAE000015889"/>
          <ticker value="NPN"/>
        </identifiers>
        <balance>3393</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>554592.43</valUSD>
        <pctVal>0.0983138847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Limited</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Limited KRW100</title>
        <cusip>Y74718100</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
          <ticker value="A005930"/>
        </identifiers>
        <balance>384375</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>18520853.3</valUSD>
        <pctVal>3.2832345641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Limited</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Limited N/VTG PFD KRW100</title>
        <cusip>Y74718118</cusip>
        <identifiers>
          <isin value="KR7005931001"/>
          <ticker value="A005935"/>
        </identifiers>
        <balance>10304</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>402003.56</valUSD>
        <pctVal>0.0712641022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Siam Commercial Bank Public Company Limited</name>
        <lei>54930068OELHUBHH1U03</lei>
        <title>Siam Commercial Bank Public Company Limited THB10 (ALIEN MARKET)</title>
        <cusip>Y7905M113</cusip>
        <identifiers>
          <isin value="TH0015010018"/>
          <ticker value="SCB-F"/>
        </identifiers>
        <balance>1259700</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>5130689.81</valUSD>
        <pctVal>0.9095292668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Orion</name>
        <lei>N/A</lei>
        <title>Orion KRW500</title>
        <cusip>Y6S90M128</cusip>
        <identifiers>
          <isin value="KR7271560005"/>
          <ticker value="A271560"/>
        </identifiers>
        <balance>56420</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>5143604.96</valUSD>
        <pctVal>0.9118187653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATURA &amp;CO HOLDING S.A.</name>
        <lei>N/A</lei>
        <title>NATURA &amp;CO HOLDING S.A. COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRNTCOACNOR5"/>
          <ticker value="NTCO3"/>
        </identifiers>
        <balance>1267242</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>12181929.58</valUSD>
        <pctVal>2.1595188735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barloworld Ltd</name>
        <lei>N/A</lei>
        <title>Barloworld Ltd ZAR0.05</title>
        <cusip>S08470189</cusip>
        <identifiers>
          <isin value="ZAE000026639"/>
          <ticker value="BAW"/>
        </identifiers>
        <balance>606210</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>4883941.02</valUSD>
        <pctVal>0.8657875372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Standard Bk Gr Ltd</name>
        <lei>2549003PEZXUT7MDBU41</lei>
        <title>Standard Bk Gr Ltd ZAR0.1</title>
        <cusip>S80605140</cusip>
        <identifiers>
          <isin value="ZAE000109815"/>
          <ticker value="SBK"/>
        </identifiers>
        <balance>382839</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>4607435.23</valUSD>
        <pctVal>0.8167707154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Want Want China Holdings Ltd</name>
        <lei>5299005HZCEKX4O1J230</lei>
        <title>Want Want China Holdings Ltd USD0.02</title>
        <cusip>G9431R103</cusip>
        <identifiers>
          <isin value="KYG9431R1039"/>
          <ticker value="151"/>
        </identifiers>
        <balance>5946000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>5568199.42</valUSD>
        <pctVal>0.9870876087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Surgutneftegas Public Joint Stock Co</name>
        <lei>2138002GZLU65FRAC894</lei>
        <title>Surgutneftegas Public Joint Stock Co ADR-EACH REPR 10 ORD RUB1</title>
        <cusip>868861204</cusip>
        <identifiers>
          <isin value="US8688612048"/>
          <ticker value="SGTZY"/>
        </identifiers>
        <balance>18819</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>152142.38</valUSD>
        <pctVal>0.0269706321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AstraZeneca Plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca Plc ORD USD0.25</title>
        <cusip>G0593M107</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
          <ticker value="AZN"/>
        </identifiers>
        <balance>5750</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>575279.65</valUSD>
        <pctVal>0.1019811561</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>Itau Unibanco Holdings S.A.</name>
        <lei>5493002W2IVG62O3ZJ94</lei>
        <title>Itau Unibanco Holdings S.A. ADR EACH REPR 1 PRF NPV</title>
        <cusip>465562106</cusip>
        <identifiers>
          <isin value="US4655621062"/>
          <ticker value="ITUB"/>
        </identifiers>
        <balance>45200</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>413580</valUSD>
        <pctVal>0.0733162846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Abu Dhabi Bank</name>
        <lei>2138002Y3WMK6RZS8H90</lei>
        <title>First Abu Dhabi Bank AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AEN000101016"/>
          <ticker value="FAB"/>
        </identifiers>
        <balance>144600</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>596020</valUSD>
        <pctVal>0.1056578460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oil Company Lukoil Pjsc</name>
        <lei>549300LCJ1UJXHYBWI24</lei>
        <title>Oil Company Lukoil Pjsc SPON ADR EACH REP 1 ORD SHS</title>
        <cusip>69343P105</cusip>
        <identifiers>
          <isin value="US69343P1057"/>
          <ticker value="LUKOY"/>
        </identifiers>
        <balance>6727</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>668275.37</valUSD>
        <pctVal>0.1184667228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>HSBC 0 01/19/21 0008</title>
        <cusip>G4R76SLF8</cusip>
        <identifiers>
          <isin value="XS1749436561"/>
          <ticker value="12ZQ"/>
        </identifiers>
        <balance>26050</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>454242.67</valUSD>
        <pctVal>0.0805246503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-19</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>N/A</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>Atlas Copco AB</name>
        <lei>213800T8PC8Q4FYJZR07</lei>
        <title>Atlas Copco AB SER'A'NPV</title>
        <cusip>W1R924161</cusip>
        <identifiers>
          <isin value="SE0011166610"/>
          <ticker value="ATCO A"/>
        </identifiers>
        <balance>14511</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>578445.89</valUSD>
        <pctVal>0.1025424428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BDO Unibank Inc</name>
        <lei>3FGIIBS1PEI1FYQBGN97</lei>
        <title>BDO Unibank Inc PHP10</title>
        <cusip>Y07775102</cusip>
        <identifiers>
          <isin value="PHY077751022"/>
          <ticker value="BDO"/>
        </identifiers>
        <balance>392260</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>1222841.01</valUSD>
        <pctVal>0.2167758583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Holdings Limited</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Limited HKD0.00002</title>
        <cusip>G87572163</cusip>
        <identifiers>
          <isin value="KYG875721634"/>
          <ticker value="700"/>
        </identifiers>
        <balance>197300</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>9517464.87</valUSD>
        <pctVal>1.6871830427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD.com Inc</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.com Inc SPON ADS EACH REPR 2 ORD SHS CLASS A</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
          <ticker value="JD"/>
        </identifiers>
        <balance>82130</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2893439.9</valUSD>
        <pctVal>0.5129267931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soochow Securities Co., Ltd</name>
        <lei>N/A</lei>
        <title>Soochow Securities Co., Ltd 'A'CNY1</title>
        <cusip>Y8074Z117</cusip>
        <identifiers>
          <isin value="CNE1000019P8"/>
          <ticker value="SOCHOW"/>
        </identifiers>
        <balance>78694</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>113075.26</valUSD>
        <pctVal>0.0200451133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GPO Fin Banorte</name>
        <lei>N/A</lei>
        <title>GPO Fin Banorte COM NPV SERIES O</title>
        <cusip>P49501201</cusip>
        <identifiers>
          <isin value="MXP370711014"/>
          <ticker value="GFNORTE O"/>
        </identifiers>
        <balance>234900</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>1311439.59</valUSD>
        <pctVal>0.2324819338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co. SPON ADS EACH REP 5 ORD TWD10</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
          <ticker value="TSM"/>
        </identifiers>
        <balance>247000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14350700</valUSD>
        <pctVal>2.5439818293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Netease Inc</name>
        <lei>N/A</lei>
        <title>Netease Inc ADS EACH REPR 25 COM STK USD0.0001</title>
        <cusip>64110W102</cusip>
        <identifiers>
          <isin value="US64110W1027"/>
          <ticker value="NTES"/>
        </identifiers>
        <balance>6190</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1898101.6</valUSD>
        <pctVal>0.3364808672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Estee Lauder Companies Inc.</name>
        <lei>549300VFZ8XJ9NUPU221</lei>
        <title>The Estee Lauder Companies Inc. CL A</title>
        <cusip>518439104</cusip>
        <identifiers>
          <isin value="US5184391044"/>
          <ticker value="EL"/>
        </identifiers>
        <balance>7430</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1534592.2</valUSD>
        <pctVal>0.2720407139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Petroleo Brasileiro SA</name>
        <lei>5493000J801JZRCMFE49</lei>
        <title>Petroleo Brasileiro SA SPON ADS EACH REP 2 ORD SHS</title>
        <cusip>71654V408</cusip>
        <identifiers>
          <isin value="US71654V4086"/>
          <ticker value="PBR"/>
        </identifiers>
        <balance>174200</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2776748</valUSD>
        <pctVal>0.4922405497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Microsoft Corporation</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corporation COM</title>
        <cusip>594918104</cusip>
        <identifiers>
          <isin value="US5949181045"/>
          <ticker value="MSFT"/>
        </identifiers>
        <balance>17700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2791290</valUSD>
        <pctVal>0.4948184437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco do Brasil S.A.</name>
        <lei>QE0Q0253K88YAGNPE356</lei>
        <title>Banco do Brasil S.A. COM NPV</title>
        <cusip>P11427112</cusip>
        <identifiers>
          <isin value="BRBBASACNOR3"/>
          <ticker value="BBAS3"/>
        </identifiers>
        <balance>79200</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>1042447.89</valUSD>
        <pctVal>0.1847971521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sinolink Securities Co., Ltd.</name>
        <lei>300300XTI3CMWAP25D43</lei>
        <title>Sinolink Securities Co., Ltd. 'A'CNY1</title>
        <cusip>Y8004P106</cusip>
        <identifiers>
          <isin value="CNE000000SV4"/>
          <ticker value="SNLINK"/>
        </identifiers>
        <balance>285992</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>382373.59</valUSD>
        <pctVal>0.0677842520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Enel Chile S.A.</name>
        <lei>549300YM5CWCAUVOPB53</lei>
        <title>Enel Chile S.A. COM NPV</title>
        <cusip>P3762G109</cusip>
        <identifiers>
          <isin value="CL0002266774"/>
          <ticker value="ENELCHILE"/>
        </identifiers>
        <balance>428917</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="751.95"/>
        <valUSD>40959.93</valUSD>
        <pctVal>0.0072610617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WULIANGYE YIBIN CO. LTD.</name>
        <lei>N/A</lei>
        <title>WULIANGYE YIBIN CO. LTD. 'A'CNY1</title>
        <cusip>Y9718N106</cusip>
        <identifiers>
          <isin value="CNE000000VQ8"/>
          <ticker value="000858"/>
        </identifiers>
        <balance>122600</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>2341413.81</valUSD>
        <pctVal>0.4150678495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aier Eye Hospital</name>
        <lei>N/A</lei>
        <title>Aier Eye Hospital 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000GR6"/>
          <ticker value="300015"/>
        </identifiers>
        <balance>126200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>717444.68</valUSD>
        <pctVal>0.1271830802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>HSBC 0 05/25/21 EMTU</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2004413626"/>
          <ticker value="68CZ"/>
        </identifiers>
        <balance>25127</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>542806.11</valUSD>
        <pctVal>0.0962244964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>N/A</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>Banco Bradesco S.A.</name>
        <lei>549300CTUU1RFXHQJE44</lei>
        <title>Banco Bradesco S.A. SPONS ADR EACH REPR 1 PRF NPV</title>
        <cusip>059460303</cusip>
        <identifiers>
          <isin value="US0594603039"/>
          <ticker value="BBD"/>
        </identifiers>
        <balance>61400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>549530</valUSD>
        <pctVal>0.0974164560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Porto Seguro Sa</name>
        <lei>N/A</lei>
        <title>Porto Seguro Sa COM NPV</title>
        <cusip>P7905C107</cusip>
        <identifiers>
          <isin value="BRPSSAACNOR7"/>
          <ticker value="PSSA3"/>
        </identifiers>
        <balance>15400</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>240571.92</valUSD>
        <pctVal>0.0426467415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIA Group Ltd, Hong Kong</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA Group Ltd, Hong Kong NPV</title>
        <cusip>Y002A1105</cusip>
        <identifiers>
          <isin value="HK0000069689"/>
          <ticker value="1299"/>
        </identifiers>
        <balance>200200</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2106435.39</valUSD>
        <pctVal>0.3734126807</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>Ishares Inc</name>
        <lei>549300MGJZCNMJLBAJ67</lei>
        <title>Ishares Inc CORE MSCI EMKT</title>
        <cusip>46434G103</cusip>
        <identifiers>
          <isin value="US46434G1031"/>
          <ticker value="IEMG"/>
        </identifiers>
        <balance>113300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6091008</valUSD>
        <pctVal>1.0797670967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Copa Holdings Sa</name>
        <lei>529900BB9UQJV6QQHA59</lei>
        <title>Copa Holdings Sa NPV CLASS 'A'</title>
        <cusip>P31076105</cusip>
        <identifiers>
          <isin value="PAP310761054"/>
          <ticker value="CPA"/>
        </identifiers>
        <balance>5180</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>559854.4</valUSD>
        <pctVal>0.0992466863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sberbank of Russia</name>
        <lei>549300WE6TAF5EEWQS81</lei>
        <title>Sberbank of Russia SPON ADR EACH REPR 4 ORD SHS</title>
        <cusip>80585Y308</cusip>
        <identifiers>
          <isin value="US80585Y3080"/>
          <ticker value="SBRCY"/>
        </identifiers>
        <balance>203634</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3350588.54</valUSD>
        <pctVal>0.5939665914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sberbank of Russia</name>
        <lei>549300WE6TAF5EEWQS81</lei>
        <title>Sberbank of Russia SPON ADR EACH REPR 4 ORD SHS</title>
        <cusip>80585Y308</cusip>
        <identifiers>
          <isin value="US80585Y3080"/>
          <ticker value="SBRCY"/>
        </identifiers>
        <balance>58219</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>957933.91</valUSD>
        <pctVal>0.1698151631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Hengli Hydraulic Co Ltd</name>
        <lei>N/A</lei>
        <title>Jiangsu Hengli Hydraulic Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE1000019R4"/>
        </identifiers>
        <balance>117200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>837245.4</valUSD>
        <pctVal>0.1484204314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ping An Healthcare And Technology Company Limited</name>
        <lei>2549009NW1LO017CP285</lei>
        <title>Ping An Healthcare And Technology Company Limited USD0.000005</title>
        <cusip>G71139102</cusip>
        <identifiers>
          <isin value="KYG711391022"/>
          <ticker value="1833"/>
        </identifiers>
        <balance>74800</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>546306.65</valUSD>
        <pctVal>0.0968450452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Bank of Greece S.A.</name>
        <lei>5UMCZOEYKCVFAW8ZLO05</lei>
        <title>National Bank of Greece S.A. EUR3.00 (POST CONS)</title>
        <cusip>X56533189</cusip>
        <identifiers>
          <isin value="GRS003003035"/>
          <ticker value="ETE"/>
        </identifiers>
        <balance>473768</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1609256.22</valUSD>
        <pctVal>0.2852765776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOTVS S.A.</name>
        <lei>N/A</lei>
        <title>TOTVS S.A. COM NPV</title>
        <cusip>P92184103</cusip>
        <identifiers>
          <isin value="BRTOTSACNOR8"/>
          <ticker value="TOTS3"/>
        </identifiers>
        <balance>84300</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>1354143.06</valUSD>
        <pctVal>0.2400520768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WNS Holdings Ltd</name>
        <lei>529900RM7QHUD3W9DM42</lei>
        <title>WNS Holdings Ltd SPONS ADR EA REPR 1 ORD SHS</title>
        <cusip>92932M101</cusip>
        <identifiers>
          <isin value="US92932M1018"/>
          <ticker value="WNS"/>
        </identifiers>
        <balance>5121</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>338754.15</valUSD>
        <pctVal>0.0600517328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Inst Fds</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>Northern Inst Fds GOVT PTFL</title>
        <cusip>665278404</cusip>
        <identifiers>
          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
        </identifiers>
        <balance>542851.28</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>542851.28</valUSD>
        <pctVal>0.0962325038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASML Holding N.V.</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
        <title>ASML Holding N.V. EUR0.09</title>
        <cusip>N07059202</cusip>
        <identifiers>
          <isin value="NL0010273215"/>
          <ticker value="ASML"/>
        </identifiers>
        <balance>2004</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>596811.66</valUSD>
        <pctVal>0.1057981854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Hengrui Me</name>
        <lei>N/A</lei>
        <title>Jiangsu Hengrui Me 'A'CNY1</title>
        <cusip>Y4446S105</cusip>
        <identifiers>
          <isin value="CNE0000014W7"/>
          <ticker value="600276"/>
        </identifiers>
        <balance>20600</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>259042.45</valUSD>
        <pctVal>0.0459210551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IDP Education Limited</name>
        <lei>N/A</lei>
        <title>IDP Education Limited NPV</title>
        <cusip>Q48215109</cusip>
        <identifiers>
          <isin value="AU000000IEL5"/>
          <ticker value="IEL"/>
        </identifiers>
        <balance>73824</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>891633.03</valUSD>
        <pctVal>0.1580618525</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>Dino Polska Sa</name>
        <lei>259400H4L81SMPRTW956</lei>
        <title>Dino Polska Sa PLN0.10</title>
        <cusip>X188AF102</cusip>
        <identifiers>
          <isin value="PLDINPL00011"/>
          <ticker value="DNP"/>
        </identifiers>
        <balance>10055</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.7939"/>
        <valUSD>381477.06</valUSD>
        <pctVal>0.0676253220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA EDUCATION GP HLDGS LTD</name>
        <lei>549300A81YHS5D5PYD04</lei>
        <title>CHINA EDUCATION GP HLDGS LTD HKD0.00001</title>
        <cusip>G2163M103</cusip>
        <identifiers>
          <isin value="KYG2163M1033"/>
          <ticker value="839"/>
        </identifiers>
        <balance>76000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>99650.85</valUSD>
        <pctVal>0.0176653370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank Tabungan Pensiunan Nasional Syariah Tbk PT</name>
        <lei>N/A</lei>
        <title>Bank Tabungan Pensiunan Nasional Syariah Tbk PT IDR100</title>
        <cusip>Y713AP104</cusip>
        <identifiers>
          <isin value="ID1000142805"/>
          <ticker value="BTPS"/>
        </identifiers>
        <balance>5834900</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>1784368.32</valUSD>
        <pctVal>0.3163191052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan Structured Products B.V.</name>
        <lei>XZYUUT6IYN31D9K77X08</lei>
        <title>J.P. Morgan Structured Products B.V. LEPW 18/10/21(BK FOREIGN TRADE)USD0.0001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0013547409"/>
          <ticker value="JPM"/>
        </identifiers>
        <balance>31000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>120713.42</valUSD>
        <pctVal>0.0213991476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00</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>Shandong Sinocera</name>
        <lei>N/A</lei>
        <title>Shandong Sinocera 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100001FB0"/>
          <ticker value="300285"/>
        </identifiers>
        <balance>28693</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.96145"/>
        <valUSD>94195.7</valUSD>
        <pctVal>0.0166982899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICICI Bank Limited</name>
        <lei>R7RX8ER1V4666J8D1I38</lei>
        <title>ICICI Bank Limited SPON ADR EACH REPR 2 ORD SHS</title>
        <cusip>45104G104</cusip>
        <identifiers>
          <isin value="US45104G1040"/>
          <ticker value="IBN"/>
        </identifiers>
        <balance>46322</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>698998.98</valUSD>
        <pctVal>0.1239131683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westport Holdings Berhad</name>
        <lei>N/A</lei>
        <title>Westport Holdings Berhad MYR0.1</title>
        <cusip>Y95440106</cusip>
        <identifiers>
          <isin value="MYL5246OO003"/>
          <ticker value="WPRTS"/>
        </identifiers>
        <balance>195400</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>201909.44</valUSD>
        <pctVal>0.0357929541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Expressway Company Limited</name>
        <lei>529900UWWTWZ6AKLYD43</lei>
        <title>Jiangsu Expressway Company Limited H SHS CNY1</title>
        <cusip>Y4443L103</cusip>
        <identifiers>
          <isin value="CNE1000003J5"/>
          <ticker value="177"/>
        </identifiers>
        <balance>50000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>68607.45</valUSD>
        <pctVal>0.0121622016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Realtek Semicond</name>
        <lei>5299002E7F36O00MYY75</lei>
        <title>Realtek Semicond TWD10</title>
        <cusip>Y7220N101</cusip>
        <identifiers>
          <isin value="TW0002379005"/>
          <ticker value="2379"/>
        </identifiers>
        <balance>315600</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>2475499.62</valUSD>
        <pctVal>0.4388375516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shinhan Financial Group Co Ltd</name>
        <lei>988400EB8A6G49E5KO54</lei>
        <title>Shinhan Financial Group Co Ltd KRW5000</title>
        <cusip>Y7749X101</cusip>
        <identifiers>
          <isin value="KR7055550008"/>
          <ticker value="A055550"/>
        </identifiers>
        <balance>21483</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>803458.1</valUSD>
        <pctVal>0.1424308784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ayala Land Inc</name>
        <lei>254900EWT10TQ6DKTV34</lei>
        <title>Ayala Land Inc PHP1</title>
        <cusip>Y0488F100</cusip>
        <identifiers>
          <isin value="PHY0488F1004"/>
          <ticker value="ALI"/>
        </identifiers>
        <balance>1164800</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>1044595.38</valUSD>
        <pctVal>0.1851778426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Bradesco S.A.</name>
        <lei>549300CTUU1RFXHQJE44</lei>
        <title>Banco Bradesco S.A. SPONS ADR EACH REPR 1 PRF NPV</title>
        <cusip>059460303</cusip>
        <identifiers>
          <isin value="US0594603039"/>
          <ticker value="BBD"/>
        </identifiers>
        <balance>73030</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>653618.5</valUSD>
        <pctVal>0.1158684655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oceanwide Holdings Co Limited</name>
        <lei>N/A</lei>
        <title>Oceanwide Holdings Co Limited 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000123"/>
          <ticker value="000046"/>
        </identifiers>
        <balance>246394</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>160983.84</valUSD>
        <pctVal>0.0285379782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WIN Semiconductors</name>
        <lei>529900G3R9LZ0M2UBM97</lei>
        <title>WIN Semiconductors TWD10</title>
        <cusip>Y9588T100</cusip>
        <identifiers>
          <isin value="TW0003105003"/>
          <ticker value="3105"/>
        </identifiers>
        <balance>12000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>117797.09</valUSD>
        <pctVal>0.0208821630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Db Insurance Co Ltd</name>
        <lei>9884000ZF26VNJBWSJ91</lei>
        <title>Db Insurance Co Ltd KRW500</title>
        <cusip>Y2096K109</cusip>
        <identifiers>
          <isin value="KR7005830005"/>
          <ticker value="A005830"/>
        </identifiers>
        <balance>1730</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>78123.8</valUSD>
        <pctVal>0.0138491870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mega Financial Holding Co</name>
        <lei>N/A</lei>
        <title>Mega Financial Holding Co TWD10</title>
        <cusip>Y59456106</cusip>
        <identifiers>
          <isin value="TW0002886009"/>
          <ticker value="2886"/>
        </identifiers>
        <balance>230000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>234939.41</valUSD>
        <pctVal>0.0416482534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTT Exploration and Production Public Company Limited</name>
        <lei>2549001O8YYGP5N7Q076</lei>
        <title>PTT Exploration and Production Public Company Limited THB1(NVDR)</title>
        <cusip>Y7145P140</cusip>
        <identifiers>
          <isin value="TH0355010R16"/>
          <ticker value="PTTEP-R"/>
        </identifiers>
        <balance>108600</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>449001.67</valUSD>
        <pctVal>0.0795955661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ping An Insurance (Group) Company of China Ltd.</name>
        <lei>529900M9MC28JLN35U89</lei>
        <title>Ping An Insurance (Group) Company of China Ltd. 'H' CNY1</title>
        <cusip>Y69790106</cusip>
        <identifiers>
          <isin value="CNE1000003X6"/>
          <ticker value="2318"/>
        </identifiers>
        <balance>77500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>918085.23</valUSD>
        <pctVal>0.1627510953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hyundai Glovis Co., Ltd</name>
        <lei>988400U6RDXNJ5ZRN304</lei>
        <title>Hyundai Glovis Co., Ltd KRW500</title>
        <cusip>Y27294100</cusip>
        <identifiers>
          <isin value="KR7086280005"/>
          <ticker value="A086280"/>
        </identifiers>
        <balance>1170</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>144363.88</valUSD>
        <pctVal>0.0255917194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Escorts</name>
        <lei>335800FPEJC7WFBUBF07</lei>
        <title>Escorts INR10</title>
        <cusip>Y2296W127</cusip>
        <identifiers>
          <isin value="INE042A01014"/>
          <ticker value="ESCORTS"/>
        </identifiers>
        <balance>45034</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>397286.88</valUSD>
        <pctVal>0.0704279654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Larsen &amp; Toubro Limited</name>
        <lei>3358003FR3JIC5FRXA90</lei>
        <title>Larsen &amp; Toubro Limited INR2</title>
        <cusip>Y5217N159</cusip>
        <identifiers>
          <isin value="INE018A01030"/>
          <ticker value="LT"/>
        </identifiers>
        <balance>71462</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>1301039.06</valUSD>
        <pctVal>0.2306382077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Misc Berhad</name>
        <lei>N/A</lei>
        <title>Misc Berhad MYR1</title>
        <cusip>Y6080H105</cusip>
        <identifiers>
          <isin value="MYL3816OO005"/>
          <ticker value="MISC"/>
        </identifiers>
        <balance>92984</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>190439.07</valUSD>
        <pctVal>0.0337595751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oil and Natural Gas Corporation LTD</name>
        <lei>335800FPDZ9MRSNO7N41</lei>
        <title>Oil and Natural Gas Corporation LTD INR5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE213A01029"/>
          <ticker value="ONGC"/>
        </identifiers>
        <balance>57063</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>103188.01</valUSD>
        <pctVal>0.0182923775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OTP Bank Plc</name>
        <lei>529900W3MOO00A18X956</lei>
        <title>OTP Bank Plc HUF100</title>
        <cusip>X60746181</cusip>
        <identifiers>
          <isin value="HU0000061726"/>
          <ticker value="OTP"/>
        </identifiers>
        <balance>4189</balance>
        <units>NS</units>
        <currencyConditional curCd="HUF" exchangeRt="295.05665"/>
        <valUSD>219238.53</valUSD>
        <pctVal>0.0388649220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barloworld Ltd</name>
        <lei>N/A</lei>
        <title>Barloworld Ltd ZAR0.05</title>
        <cusip>S08470189</cusip>
        <identifiers>
          <isin value="ZAE000026639"/>
          <ticker value="BAW"/>
        </identifiers>
        <balance>25374</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>204426.06</valUSD>
        <pctVal>0.0362390812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PVR Ltd</name>
        <lei>335800NR78RUVFDE4L48</lei>
        <title>PVR Ltd INR10</title>
        <cusip>Y71626108</cusip>
        <identifiers>
          <isin value="INE191H01014"/>
          <ticker value="PVR"/>
        </identifiers>
        <balance>24354</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>649355.19</valUSD>
        <pctVal>0.1151126986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Merchants Bank Co., Ltd.</name>
        <lei>549300MKO5B60FFIHF58</lei>
        <title>China Merchants Bank Co., Ltd. 'H'CNY1</title>
        <cusip>Y14896115</cusip>
        <identifiers>
          <isin value="CNE1000002M1"/>
          <ticker value="3968"/>
        </identifiers>
        <balance>396500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2043684.55</valUSD>
        <pctVal>0.3622886939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sinotruk(Hong Kong</name>
        <lei>529900BB4WA4W576X724</lei>
        <title>Sinotruk(Hong Kong NPV</title>
        <cusip>Y8014Z102</cusip>
        <identifiers>
          <isin value="HK3808041546"/>
          <ticker value="3808"/>
        </identifiers>
        <balance>220000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>469451.58</valUSD>
        <pctVal>0.0832207690</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>AL Rajhi Bkg &amp; Inv</name>
        <lei>558600BQZS4Y1DTU8589</lei>
        <title>AL Rajhi Bkg &amp; Inv SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA0007879113"/>
          <ticker value="1120"/>
        </identifiers>
        <balance>10541</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>183806.98</valUSD>
        <pctVal>0.0325838891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Overseas Land &amp; Investment Ltd</name>
        <lei>529900I6W35GYKRIZ151</lei>
        <title>China Overseas Land &amp; Investment Ltd NPV</title>
        <cusip>Y15004107</cusip>
        <identifiers>
          <isin value="HK0688002218"/>
          <ticker value="688"/>
        </identifiers>
        <balance>642000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2507360.8</valUSD>
        <pctVal>0.4444856568</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>China Comm Service</name>
        <lei>529900JCDRVQE6YZKT86</lei>
        <title>China Comm Service 'H'CNY1</title>
        <cusip>Y1436A102</cusip>
        <identifiers>
          <isin value="CNE1000002G3"/>
          <ticker value="552"/>
        </identifiers>
        <balance>112000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>81863.34</valUSD>
        <pctVal>0.0145121039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Aeroportuario del Centro Norte S.A.B. de C.V.</name>
        <lei>529900HUSBARAFSXJ605</lei>
        <title>Grupo Aeroportuario del Centro Norte S.A.B. de C.V. SER'B' NPV</title>
        <cusip>P49530101</cusip>
        <identifiers>
          <isin value="MX01OM000018"/>
          <ticker value="OMA B"/>
        </identifiers>
        <balance>117100</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>876724.9</valUSD>
        <pctVal>0.1554190538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commercial Intl Bk</name>
        <lei>213800FIIXJAMEVRIH48</lei>
        <title>Commercial Intl Bk EGP10</title>
        <cusip>M25561107</cusip>
        <identifiers>
          <isin value="EGS60121C018"/>
          <ticker value="COMI"/>
        </identifiers>
        <balance>56418</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.05"/>
        <valUSD>291826.94</valUSD>
        <pctVal>0.0517328376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RHB Bank Berhad</name>
        <lei>549300ZHRPSV7QIUJT80</lei>
        <title>RHB Bank Berhad NPV</title>
        <cusip>Y72783106</cusip>
        <identifiers>
          <isin value="MYL1066OO009"/>
          <ticker value="RHBBANK"/>
        </identifiers>
        <balance>120600</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>170419.45</valUSD>
        <pctVal>0.0302106506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEI Industries Ltd</name>
        <lei>335800UDWBC2AWPU7M56</lei>
        <title>KEI Industries Ltd INR2</title>
        <cusip>Y4640F115</cusip>
        <identifiers>
          <isin value="INE878B01027"/>
          <ticker value="KEI"/>
        </identifiers>
        <balance>58359</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>375232.39</valUSD>
        <pctVal>0.0665183149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Uni-President China Holdings Limited</name>
        <lei>529900JUA05094TOKA73</lei>
        <title>Uni-President China Holdings Limited HKD0.01</title>
        <cusip>G9222R106</cusip>
        <identifiers>
          <isin value="KYG9222R1065"/>
          <ticker value="220"/>
        </identifiers>
        <balance>271000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>284725.21</valUSD>
        <pctVal>0.0504738975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Want Want China Holdings Ltd</name>
        <lei>5299005HZCEKX4O1J230</lei>
        <title>Want Want China Holdings Ltd USD0.02</title>
        <cusip>G9431R103</cusip>
        <identifiers>
          <isin value="KYG9431R1039"/>
          <ticker value="151"/>
        </identifiers>
        <balance>513200</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>480591.98</valUSD>
        <pctVal>0.0851956535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vedanta Limited</name>
        <lei>335800XDKX9KB5EMCO07</lei>
        <title>Vedanta Limited INR1</title>
        <cusip>Y7673N111</cusip>
        <identifiers>
          <isin value="INE205A01025"/>
          <ticker value="VEDL"/>
        </identifiers>
        <balance>9926</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>21227.16</valUSD>
        <pctVal>0.0037629878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jinduicheng Molybd</name>
        <lei>N/A</lei>
        <title>Jinduicheng Molybd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE1000009Y1"/>
          <ticker value="601958"/>
        </identifiers>
        <balance>294000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>338141.15</valUSD>
        <pctVal>0.0599430649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yuexiu Property Co Ltd</name>
        <lei>529900GASK6R1FD08W10</lei>
        <title>Yuexiu Property Co Ltd NPV</title>
        <cusip>Y9863Z102</cusip>
        <identifiers>
          <isin value="HK0123000694"/>
          <ticker value="123"/>
        </identifiers>
        <balance>1582000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>366050.15</valUSD>
        <pctVal>0.0648905580</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>Hon Hai Precision Industry Co., Ltd.</name>
        <lei>30030004CM3GSZXX7O56</lei>
        <title>Hon Hai Precision Industry Co., Ltd. TWD10</title>
        <cusip>Y36861105</cusip>
        <identifiers>
          <isin value="TW0002317005"/>
          <ticker value="2317"/>
        </identifiers>
        <balance>178872</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>542079.25</valUSD>
        <pctVal>0.0960956443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JBS, S.A.</name>
        <lei>N/A</lei>
        <title>JBS, S.A. COM NPV</title>
        <cusip>P59695109</cusip>
        <identifiers>
          <isin value="BRJBSSACNOR8"/>
          <ticker value="JBSS3"/>
        </identifiers>
        <balance>70600</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>453181.62</valUSD>
        <pctVal>0.0803365555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lite-On Technology</name>
        <lei>2549005GU1PQ73SZBT32</lei>
        <title>Lite-On Technology TWD10</title>
        <cusip>Y5313K109</cusip>
        <identifiers>
          <isin value="TW0002301009"/>
          <ticker value="2301"/>
        </identifiers>
        <balance>244000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>401984.81</valUSD>
        <pctVal>0.0712607784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fujian Sunner Deve</name>
        <lei>N/A</lei>
        <title>Fujian Sunner Deve 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000G78"/>
          <ticker value="002299"/>
        </identifiers>
        <balance>103600</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>358347.32</valUSD>
        <pctVal>0.0635250595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>President Chain Store Corp</name>
        <lei>N/A</lei>
        <title>President Chain Store Corp TWD10</title>
        <cusip>Y7082T105</cusip>
        <identifiers>
          <isin value="TW0002912003"/>
          <ticker value="2912"/>
        </identifiers>
        <balance>21000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>213194.34</valUSD>
        <pctVal>0.0377934545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sunny Optical Technology (Group) Co Ltd</name>
        <lei>3003004QIVP0DFVVWM94</lei>
        <title>Sunny Optical Technology (Group) Co Ltd HKD0.10</title>
        <cusip>G8586D109</cusip>
        <identifiers>
          <isin value="KYG8586D1097"/>
          <ticker value="2382"/>
        </identifiers>
        <balance>174800</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>3033245.36</valUSD>
        <pctVal>0.5377104308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindustan Unilever</name>
        <lei>5493007IW5N37IKRPM32</lei>
        <title>Hindustan Unilever INR1</title>
        <cusip>Y3222L102</cusip>
        <identifiers>
          <isin value="INE030A01027"/>
          <ticker value="HINDUNILVR"/>
        </identifiers>
        <balance>20615</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>555483.5</valUSD>
        <pctVal>0.0984718467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mercadolibre Inc</name>
        <lei>549300DKPDN9M5S8GB14</lei>
        <title>Mercadolibre Inc COM</title>
        <cusip>58733R102</cusip>
        <identifiers>
          <isin value="US58733R1023"/>
          <ticker value="MELI"/>
        </identifiers>
        <balance>998</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>570796.12</valUSD>
        <pctVal>0.1011863503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco do Estado do Rio Grande do Sul S.A</name>
        <lei>254900W2BN097WLYIM20</lei>
        <title>Banco do Estado do Rio Grande do Sul S.A PRF CLASS 'B' NPV 144A/REG S</title>
        <cusip>P12553247</cusip>
        <identifiers>
          <isin value="BRBRSRACNPB4"/>
          <ticker value="BRSR6"/>
        </identifiers>
        <balance>41300</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>222574.69</valUSD>
        <pctVal>0.0394563308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Liberty Hldgs</name>
        <lei>529900SLXRMLVAR2ZO23</lei>
        <title>Liberty Hldgs ZAR0.0833</title>
        <cusip>S44440121</cusip>
        <identifiers>
          <isin value="ZAE000127148"/>
          <ticker value="LBH"/>
        </identifiers>
        <balance>12580</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>99485.21</valUSD>
        <pctVal>0.0176359736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Longfor Group Hldgs Ltd</name>
        <lei>254900UJX27B2F1JYR13</lei>
        <title>Longfor Group Hldgs Ltd HKD0.10</title>
        <cusip>G5635P109</cusip>
        <identifiers>
          <isin value="KYG5635P1090"/>
          <ticker value="960"/>
        </identifiers>
        <balance>90500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>425035.86</valUSD>
        <pctVal>0.0753470914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Housing Development Finance Corporation Ltd</name>
        <lei>335800OX2H9AP7NHLT64</lei>
        <title>Housing Development Finance Corporation Ltd INR2</title>
        <cusip>Y37246207</cusip>
        <identifiers>
          <isin value="INE001A01036"/>
          <ticker value="HDFC"/>
        </identifiers>
        <balance>77249</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>2615971.73</valUSD>
        <pctVal>0.4637393679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cyber-Ark Software Limited</name>
        <lei>529900YEXNDM894PWS93</lei>
        <title>Cyber-Ark Software Limited COM ILS0.01</title>
        <cusip>M2682V108</cusip>
        <identifiers>
          <isin value="IL0011334468"/>
          <ticker value="CYBR"/>
        </identifiers>
        <balance>11900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1387302</valUSD>
        <pctVal>0.2459302389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fiberhome Telecommunication Technologies Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Fiberhome Telecommunication Technologies Co., Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE0000018P2"/>
          <ticker value="FIBHOM"/>
        </identifiers>
        <balance>25600</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>100993.06</valUSD>
        <pctVal>0.0179032737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Centre Testing International Group</name>
        <lei>N/A</lei>
        <title>Centre Testing International Group 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000GV8"/>
          <ticker value="300012"/>
        </identifiers>
        <balance>1532200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>3280197.46</valUSD>
        <pctVal>0.5814882016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>B3 S.A. - Brasil, Bolsa, Balcao</name>
        <lei>4GTK5S46E6H318LMDS44</lei>
        <title>B3 S.A. - Brasil, Bolsa, Balcao COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRB3SAACNOR6"/>
          <ticker value="B3SA3"/>
        </identifiers>
        <balance>172500</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>1843300.6</valUSD>
        <pctVal>0.3267661670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank plc</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
        <title>HSBC Bank plc LEPO WTS 29/10/20(BANK FOR FOREIGN)USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BG64F794"/>
          <ticker value="94BT"/>
        </identifiers>
        <balance>342140</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1332286.79</valUSD>
        <pctVal>0.2361775652</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>OTP Bank Plc</name>
        <lei>529900W3MOO00A18X956</lei>
        <title>OTP Bank Plc HUF100</title>
        <cusip>X60746181</cusip>
        <identifiers>
          <isin value="HU0000061726"/>
          <ticker value="OTP"/>
        </identifiers>
        <balance>44195</balance>
        <units>NS</units>
        <currencyConditional curCd="HUF" exchangeRt="295.05665"/>
        <valUSD>2313021.41</valUSD>
        <pctVal>0.4100346630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Maruti Suzuki Ind</name>
        <lei>335800D27PBEESKKD357</lei>
        <title>Maruti Suzuki Ind INR5</title>
        <cusip>Y7565Y100</cusip>
        <identifiers>
          <isin value="INE585B01010"/>
          <ticker value="MARUTI"/>
        </identifiers>
        <balance>4189</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>432614.99</valUSD>
        <pctVal>0.0766906613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yuanta Finl Holds</name>
        <lei>21380045JG57LJEFFE13</lei>
        <title>Yuanta Finl Holds TWD10</title>
        <cusip>Y2169H108</cusip>
        <identifiers>
          <isin value="TW0002885001"/>
          <ticker value="2885"/>
        </identifiers>
        <balance>672000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>452952.15</valUSD>
        <pctVal>0.0802958768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brf Sa</name>
        <lei>254900MTXR9LUVQFU480</lei>
        <title>Brf Sa COM NPV</title>
        <cusip>P1905C100</cusip>
        <identifiers>
          <isin value="BRBRFSACNOR8"/>
          <ticker value="BRFS3"/>
        </identifiers>
        <balance>47100</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>412175.72</valUSD>
        <pctVal>0.0730673446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai International Airport Co</name>
        <lei>N/A</lei>
        <title>Shanghai International Airport Co 'A' CNY1</title>
        <cusip>Y7682X100</cusip>
        <identifiers>
          <isin value="CNE000000V89"/>
          <ticker value="SHIACH"/>
        </identifiers>
        <balance>39200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>443427.25</valUSD>
        <pctVal>0.0786073757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kweichow Moutai</name>
        <lei>N/A</lei>
        <title>Kweichow Moutai 'A'CNY1</title>
        <cusip>Y5070V116</cusip>
        <identifiers>
          <isin value="CNE0000018R8"/>
          <ticker value="600519"/>
        </identifiers>
        <balance>20200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>3434369.94</valUSD>
        <pctVal>0.6088187143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Match Group, Inc.</name>
        <lei>549300BIJKT86CPCKK96</lei>
        <title>Match Group, Inc. COM</title>
        <cusip>57665R106</cusip>
        <identifiers>
          <isin value="US57665R1068"/>
          <ticker value="MTCH"/>
        </identifiers>
        <balance>6150</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>504976.5</valUSD>
        <pctVal>0.0895183538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WIWYNN CORPORATION</name>
        <lei>254900FV2R15PMKXFL69</lei>
        <title>WIWYNN CORPORATION TWD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006669005"/>
          <ticker value="6669"/>
        </identifiers>
        <balance>34700</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>735357.06</valUSD>
        <pctVal>0.1303584493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clicks Group Ltd</name>
        <lei>N/A</lei>
        <title>Clicks Group Ltd ZAR0.01</title>
        <cusip>S17249111</cusip>
        <identifiers>
          <isin value="ZAE000134854"/>
          <ticker value="CLS"/>
        </identifiers>
        <balance>38708</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>709808</valUSD>
        <pctVal>0.1258293083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank Rakyat Indonesia (Persero) Tbk</name>
        <lei>254900HB6S4B12GBNP64</lei>
        <title>Bank Rakyat Indonesia (Persero) Tbk IDR50</title>
        <cusip>Y0697U112</cusip>
        <identifiers>
          <isin value="ID1000118201"/>
          <ticker value="BBRI"/>
        </identifiers>
        <balance>7043900</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>2223041.75</valUSD>
        <pctVal>0.3940837602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yum China Holdings Inc</name>
        <lei>529900DO9BYZ7VA3K502</lei>
        <title>Yum China Holdings Inc COM</title>
        <cusip>98850P109</cusip>
        <identifiers>
          <isin value="US98850P1093"/>
          <ticker value="YUMC"/>
        </identifiers>
        <balance>5110</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>245331.1</valUSD>
        <pctVal>0.0434904124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIA BRASILEIRA DISTR(PAO DE ACUCAR)</name>
        <lei>5299003V5B6KLICZCC14</lei>
        <title>CIA BRASILEIRA DISTR(PAO DE ACUCAR) SPON ADR EACH REPR 1 PRF NPV</title>
        <cusip>20440T201</cusip>
        <identifiers>
          <isin value="US20440T2015"/>
          <ticker value="CBD"/>
        </identifiers>
        <balance>4727</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>103379.49</valUSD>
        <pctVal>0.0183263216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baidu, Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>Baidu, Inc. SPON ADS EACH REP 0.1 ORD SHS</title>
        <cusip>056752108</cusip>
        <identifiers>
          <isin value="US0567521085"/>
          <ticker value="BIDU"/>
        </identifiers>
        <balance>1037</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>131076.8</valUSD>
        <pctVal>0.0232362879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kakao Corp</name>
        <lei>988400FTKUBQXKVZP434</lei>
        <title>Kakao Corp KRW500</title>
        <cusip>Y4519H119</cusip>
        <identifiers>
          <isin value="KR7035720002"/>
          <ticker value="A035720"/>
        </identifiers>
        <balance>1244</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>164733.47</valUSD>
        <pctVal>0.0292026838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Globe Telecom, Inc.</name>
        <lei>254900GPWI1816YIM923</lei>
        <title>Globe Telecom, Inc. PHP50</title>
        <cusip>Y27257149</cusip>
        <identifiers>
          <isin value="PHY272571498"/>
          <ticker value="GLO"/>
        </identifiers>
        <balance>7032</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>280107.25</valUSD>
        <pctVal>0.0496552610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gudang Garam(Perus</name>
        <lei>5299005TDQ8UGGR3AM31</lei>
        <title>Gudang Garam(Perus IDR500</title>
        <cusip>Y7121F165</cusip>
        <identifiers>
          <isin value="ID1000068604"/>
          <ticker value="GGRM"/>
        </identifiers>
        <balance>41250</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>157111.26</valUSD>
        <pctVal>0.0278514770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hanjaya Mandala Sampoerna (Pt)</name>
        <lei>549300ZA00UQ3CN51060</lei>
        <title>Hanjaya Mandala Sampoerna (Pt) IDR4</title>
        <cusip>Y7121Z146</cusip>
        <identifiers>
          <isin value="ID1000074008"/>
          <ticker value="HMSP"/>
        </identifiers>
        <balance>955520</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>143872.18</valUSD>
        <pctVal>0.0255045546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Raymond Ltd</name>
        <lei>335800B168I54HROR215</lei>
        <title>Raymond Ltd INR10</title>
        <cusip>Y72123147</cusip>
        <identifiers>
          <isin value="INE301A01014"/>
          <ticker value="RAYMOND"/>
        </identifiers>
        <balance>5879</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>55118.33</valUSD>
        <pctVal>0.0097709540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Chemicals</name>
        <lei>335800H6MURUA6FBOW17</lei>
        <title>Tata Chemicals INR10</title>
        <cusip>Y85478116</cusip>
        <identifiers>
          <isin value="INE092A01019"/>
          <ticker value="TATACHEM"/>
        </identifiers>
        <balance>13403</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>125457.43</valUSD>
        <pctVal>0.0222401292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sino-Thai Engineering &amp; Constr</name>
        <lei>N/A</lei>
        <title>Sino-Thai Engineering &amp; Constr NON VTG DEP RCPT REP 1 ORD THB1</title>
        <cusip>Y8048P146</cusip>
        <identifiers>
          <isin value="TH0307010R17"/>
          <ticker value="STEC-R"/>
        </identifiers>
        <balance>203300</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>95825.87</valUSD>
        <pctVal>0.0169872739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Imperial Logistics Ltd</name>
        <lei>213800YLKM9YB4HQIQ80</lei>
        <title>Imperial Logistics Ltd ZAR0.04</title>
        <cusip>S38127122</cusip>
        <identifiers>
          <isin value="ZAE000067211"/>
          <ticker value="IPL"/>
        </identifiers>
        <balance>51045</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>213059.89</valUSD>
        <pctVal>0.0377696202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Phison Electronics</name>
        <lei>N/A</lei>
        <title>Phison Electronics TWD10</title>
        <cusip>Y7136T101</cusip>
        <identifiers>
          <isin value="TW0008299009"/>
          <ticker value="8299"/>
        </identifiers>
        <balance>34000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>386380.69</valUSD>
        <pctVal>0.0684945999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EZ Tec Empreendime</name>
        <lei>N/A</lei>
        <title>EZ Tec Empreendime COM NPV</title>
        <cusip>P3912H106</cusip>
        <identifiers>
          <isin value="BREZTCACNOR0"/>
          <ticker value="EZTC3"/>
        </identifiers>
        <balance>.941</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>12.15</valUSD>
        <pctVal>0.0000021539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sinopec Engineering (Group) Co Ltd</name>
        <lei>529900MZVFFC7D57VV51</lei>
        <title>Sinopec Engineering (Group) Co Ltd 'H' CNY1</title>
        <cusip>Y80359105</cusip>
        <identifiers>
          <isin value="CNE100001NV2"/>
          <ticker value="2386"/>
        </identifiers>
        <balance>305000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>182683.83</valUSD>
        <pctVal>0.0323847857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novolipetsk Steel</name>
        <lei>213800913TPW32I84456</lei>
        <title>Novolipetsk Steel GDR EACH REP 10 ORD RUB1 'REGS'</title>
        <cusip>67011E204</cusip>
        <identifiers>
          <isin value="US67011E2046"/>
          <ticker value="NLMK"/>
        </identifiers>
        <balance>10105</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>233431.75</valUSD>
        <pctVal>0.0413809870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharat Electronics</name>
        <lei>335800HS8AOTM9W1F335</lei>
        <title>Bharat Electronics INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE263A01024"/>
          <ticker value="BEL"/>
        </identifiers>
        <balance>132153</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>185442.89</valUSD>
        <pctVal>0.0328738906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dubai Investments</name>
        <lei>N/A</lei>
        <title>Dubai Investments AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AED000601016"/>
          <ticker value="DIC"/>
        </identifiers>
        <balance>462615</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>163372.93</valUSD>
        <pctVal>0.0289614977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chailease Holding</name>
        <lei>529900L76E6T0JCM3J27</lei>
        <title>Chailease Holding TWD10</title>
        <cusip>G20288109</cusip>
        <identifiers>
          <isin value="KYG202881093"/>
          <ticker value="5871"/>
        </identifiers>
        <balance>90368</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>416685.68</valUSD>
        <pctVal>0.0738668357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Julong Co Ltd</name>
        <lei>N/A</lei>
        <title>Julong Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100001211"/>
          <ticker value="300202"/>
        </identifiers>
        <balance>82076</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>131741.97</valUSD>
        <pctVal>0.0233542042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Del Bajio, S.A., Institucion De Banca</name>
        <lei>4469000001BD95FFLY16</lei>
        <title>Banco Del Bajio, S.A., Institucion De Banca COM MXN2 SER'O'</title>
        <cusip>P1R2ZN117</cusip>
        <identifiers>
          <isin value="MX41BB000000"/>
          <ticker value="BBAJIO O"/>
        </identifiers>
        <balance>77200</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>129840.54</valUSD>
        <pctVal>0.0230171333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Compania Cervecerias Unidas S.A.</name>
        <lei>529900BJW9B0O6LI2R39</lei>
        <title>Compania Cervecerias Unidas S.A. SPON ADR EA REP 2 COM NPV</title>
        <cusip>204429104</cusip>
        <identifiers>
          <isin value="US2044291043"/>
          <ticker value="CCU"/>
        </identifiers>
        <balance>8553</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>162250.41</valUSD>
        <pctVal>0.0287625060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aldar Properties</name>
        <lei>N/A</lei>
        <title>Aldar Properties AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AEA002001013"/>
          <ticker value="ALDAR"/>
        </identifiers>
        <balance>248131</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>145955.88</valUSD>
        <pctVal>0.0258739369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CGN Power Co Ltd</name>
        <lei>529900D2UINCGWQYBK45</lei>
        <title>CGN Power Co Ltd CNY1</title>
        <cusip>Y1300C101</cusip>
        <identifiers>
          <isin value="CNE100001T80"/>
          <ticker value="1816"/>
        </identifiers>
        <balance>1628400</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>435056.82</valUSD>
        <pctVal>0.0771235302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gazprom Public Joint Stock Company</name>
        <lei>213800FD9J2IHTA7YX78</lei>
        <title>Gazprom Public Joint Stock Company SPON ADR-EACH REPR 2 ORD SHS</title>
        <cusip>368287207</cusip>
        <identifiers>
          <isin value="US3682872078"/>
          <ticker value="OGZPY"/>
        </identifiers>
        <balance>116258</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>957382.95</valUSD>
        <pctVal>0.1697174931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haci Omer Sabanci Holding A.S.</name>
        <lei>78900090FFOWNLGP0F20</lei>
        <title>Haci Omer Sabanci Holding A.S. TRY1</title>
        <cusip>M8223R100</cusip>
        <identifiers>
          <isin value="TRASAHOL91Q5"/>
          <ticker value="SAHOL"/>
        </identifiers>
        <balance>153379</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.949"/>
        <valUSD>246113.58</valUSD>
        <pctVal>0.0436291244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YICHANG HEC CHANGJIANG PHARMACTL CO</name>
        <lei>N/A</lei>
        <title>YICHANG HEC CHANGJIANG PHARMACTL CO 'H' CNY1</title>
        <cusip>Y9828F100</cusip>
        <identifiers>
          <isin value="CNE1000023R6"/>
          <ticker value="1558"/>
        </identifiers>
        <balance>52600</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>299337.33</valUSD>
        <pctVal>0.0530642218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank Tabungan Pensiunan Nasional Syariah Tbk PT</name>
        <lei>N/A</lei>
        <title>Bank Tabungan Pensiunan Nasional Syariah Tbk PT IDR100</title>
        <cusip>Y713AP104</cusip>
        <identifiers>
          <isin value="ID1000142805"/>
          <ticker value="BTPS"/>
        </identifiers>
        <balance>1216400</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>371986.77</valUSD>
        <pctVal>0.0659429563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cheil Worldwide</name>
        <lei>N/A</lei>
        <title>Cheil Worldwide KRW200</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7030000004"/>
          <ticker value="A030000"/>
        </identifiers>
        <balance>13534</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>281362.82</valUSD>
        <pctVal>0.0498778388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shenzhen Sunway Co</name>
        <lei>N/A</lei>
        <title>Shenzhen Sunway Co 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000W94"/>
          <ticker value="300136"/>
        </identifiers>
        <balance>16900</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>110308.63</valUSD>
        <pctVal>0.0195546663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupa Lotos SA</name>
        <lei>259400A9BI23M3K1NK82</lei>
        <title>Grupa Lotos SA PLN1.00</title>
        <cusip>X32440103</cusip>
        <identifiers>
          <isin value="PLLOTOS00025"/>
          <ticker value="LTS"/>
        </identifiers>
        <balance>11320</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.7939"/>
        <valUSD>249296.45</valUSD>
        <pctVal>0.0441933591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wal-Mart De Mexico</name>
        <lei>N/A</lei>
        <title>Wal-Mart De Mexico COM NPV</title>
        <cusip>P98180188</cusip>
        <identifiers>
          <isin value="MX01WA000038"/>
          <ticker value="WALMEX *"/>
        </identifiers>
        <balance>73900</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>212153.48</valUSD>
        <pctVal>0.0376089388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unimicron Technology Corporation</name>
        <lei>N/A</lei>
        <title>Unimicron Technology Corporation TWD10</title>
        <cusip>Y90668107</cusip>
        <identifiers>
          <isin value="TW0003037008"/>
          <ticker value="3037"/>
        </identifiers>
        <balance>199000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>279606.42</valUSD>
        <pctVal>0.0495664777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kt&amp;G Corporation</name>
        <lei>988400ZJV6ISYBLQX875</lei>
        <title>Kt&amp;G Corporation KRW5000</title>
        <cusip>Y49904108</cusip>
        <identifiers>
          <isin value="KR7033780008"/>
          <ticker value="A033780"/>
        </identifiers>
        <balance>3180</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>257789.65</valUSD>
        <pctVal>0.0456989684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lenovo Group Ltd</name>
        <lei>254900VUZRGD5U73RE46</lei>
        <title>Lenovo Group Ltd NPV</title>
        <cusip>Y5257Y107</cusip>
        <identifiers>
          <isin value="HK0992009065"/>
          <ticker value="992"/>
        </identifiers>
        <balance>172000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>115711.26</valUSD>
        <pctVal>0.0205124031</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>UTD Tractors</name>
        <lei>529900N9ELYOWQV4FW14</lei>
        <title>UTD Tractors IDR250</title>
        <cusip>Y7146Y140</cusip>
        <identifiers>
          <isin value="ID1000058407"/>
          <ticker value="UNTR"/>
        </identifiers>
        <balance>64800</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>100049.16</valUSD>
        <pctVal>0.0177359463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Afrn Rainbow Minls</name>
        <lei>529900L3TPSCK8ZVZ589</lei>
        <title>Afrn Rainbow Minls ORD ZAR0.05</title>
        <cusip>S01680107</cusip>
        <identifiers>
          <isin value="ZAE000054045"/>
          <ticker value="ARI"/>
        </identifiers>
        <balance>20283</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>236821.59</valUSD>
        <pctVal>0.0419819118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Realtek Semicond</name>
        <lei>5299002E7F36O00MYY75</lei>
        <title>Realtek Semicond TWD10</title>
        <cusip>Y7220N101</cusip>
        <identifiers>
          <isin value="TW0002379005"/>
          <ticker value="2379"/>
        </identifiers>
        <balance>56000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>439252.15</valUSD>
        <pctVal>0.0778672461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK Telecom Ltd.</name>
        <lei>9884003WEA1PHW006037</lei>
        <title>SK Telecom Ltd. KRW500</title>
        <cusip>Y4935N104</cusip>
        <identifiers>
          <isin value="KR7017670001"/>
          <ticker value="A017670"/>
        </identifiers>
        <balance>601</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>123626.54</valUSD>
        <pctVal>0.0219155631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMMB Holdings Berhad</name>
        <lei>254900R0GQB7U67SCH62</lei>
        <title>AMMB Holdings Berhad MYR1</title>
        <cusip>Y0122P100</cusip>
        <identifiers>
          <isin value="MYL1015OO006"/>
          <ticker value="AMBANK"/>
        </identifiers>
        <balance>124491</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>119048.09</valUSD>
        <pctVal>0.0211039307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indian Oil Corporation Limited</name>
        <lei>335800J8OBWE4VFUDG88</lei>
        <title>Indian Oil Corporation Limited INR10</title>
        <cusip>Y3925Y112</cusip>
        <identifiers>
          <isin value="INE242A01010"/>
          <ticker value="IOC"/>
        </identifiers>
        <balance>58824</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>103544.45</valUSD>
        <pctVal>0.0183555645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTT Public Company Limited</name>
        <lei>549300QOGMPTKB6W7G56</lei>
        <title>PTT Public Company Limited THB1(NVDR)</title>
        <cusip>Y6883U121</cusip>
        <identifiers>
          <isin value="TH0646010R18"/>
          <ticker value="PTT-R"/>
        </identifiers>
        <balance>313000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>458076.62</valUSD>
        <pctVal>0.0812043035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MTN Group Ltd</name>
        <lei>2549009JD6Q6XHZS5E05</lei>
        <title>MTN Group Ltd ZAR0.0001</title>
        <cusip>S8039R108</cusip>
        <identifiers>
          <isin value="ZAE000042164"/>
          <ticker value="MTN"/>
        </identifiers>
        <balance>79953</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>470806.04</valUSD>
        <pctVal>0.0834608772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Telkom SA SOC Limited</name>
        <lei>529900GES0BUVJEDKF90</lei>
        <title>Telkom SA SOC Limited ZAR10</title>
        <cusip>S84197102</cusip>
        <identifiers>
          <isin value="ZAE000044897"/>
          <ticker value="TKG"/>
        </identifiers>
        <balance>32440</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>80606.82</valUSD>
        <pctVal>0.0142893577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Steel Ltd</name>
        <lei>335800E6C75YGSGD5T66</lei>
        <title>Tata Steel Ltd INR10</title>
        <cusip>Y8547N139</cusip>
        <identifiers>
          <isin value="INE081A01012"/>
          <ticker value="TATASTEEL"/>
        </identifiers>
        <balance>27346</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>181408.9</valUSD>
        <pctVal>0.0321587759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Picc Property &amp; Ca</name>
        <lei>300300F1000311000017</lei>
        <title>Picc Property &amp; Ca 'H'CNY1</title>
        <cusip>Y6975Z103</cusip>
        <identifiers>
          <isin value="CNE100000593"/>
          <ticker value="2328"/>
        </identifiers>
        <balance>387000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>466630.04</valUSD>
        <pctVal>0.0827205880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anhui Conch Cement Co., Ltd.</name>
        <lei>529900HS6X8TTV0FHV63</lei>
        <title>Anhui Conch Cement Co., Ltd. 'H'CNY1</title>
        <cusip>Y01373102</cusip>
        <identifiers>
          <isin value="CNE1000001W2"/>
          <ticker value="914"/>
        </identifiers>
        <balance>75500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>551692.54</valUSD>
        <pctVal>0.0977998144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Korea Zinc</name>
        <lei>988400D0HSQUB1I1VO41</lei>
        <title>Korea Zinc KRW5000</title>
        <cusip>Y4960Y108</cusip>
        <identifiers>
          <isin value="KR7010130003"/>
          <ticker value="A010130"/>
        </identifiers>
        <balance>746</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>274616.65</valUSD>
        <pctVal>0.0486819296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Engineering &amp; Construction Corp</name>
        <lei>988400BQ69DJXXFA0D28</lei>
        <title>GS Engineering &amp; Construction Corp KRW5000</title>
        <cusip>Y2901E108</cusip>
        <identifiers>
          <isin value="KR7006360002"/>
          <ticker value="A006360"/>
        </identifiers>
        <balance>6335</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>169138.33</valUSD>
        <pctVal>0.0299835435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weichai Power Co</name>
        <lei>529900OKTPKBG85F9502</lei>
        <title>Weichai Power Co 'H'CNY1</title>
        <cusip>Y9531A109</cusip>
        <identifiers>
          <isin value="CNE1000004L9"/>
          <ticker value="2338"/>
        </identifiers>
        <balance>235000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>497213.13</valUSD>
        <pctVal>0.0881421232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Exxaro Resources</name>
        <lei>378900BC3D9BFF4E4A37</lei>
        <title>Exxaro Resources ZAR0.01</title>
        <cusip>S26949107</cusip>
        <identifiers>
          <isin value="ZAE000084992"/>
          <ticker value="EXX"/>
        </identifiers>
        <balance>15919</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>148975.2</valUSD>
        <pctVal>0.0264091788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Limited</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Limited KRW100</title>
        <cusip>Y74718100</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
          <ticker value="A005930"/>
        </identifiers>
        <balance>67486</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>3251767.95</valUSD>
        <pctVal>0.5764484365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guoyuan Securities Co., Ltd.</name>
        <lei>300300E1007634000094</lei>
        <title>Guoyuan Securities Co., Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000QZ9"/>
          <ticker value="000728"/>
        </identifiers>
        <balance>219196</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>291792.97</valUSD>
        <pctVal>0.0517268157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shenzhen Expressway Co. Ltd.</name>
        <lei>300300TWTZYZK4ZONP37</lei>
        <title>Shenzhen Expressway Co. Ltd. 'H'CNY1</title>
        <cusip>Y7741B107</cusip>
        <identifiers>
          <isin value="CNE100000478"/>
          <ticker value="548"/>
        </identifiers>
        <balance>123000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>176576.39</valUSD>
        <pctVal>0.0313021057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tatneft Pjsc</name>
        <lei>253400PAT768SVJMV121</lei>
        <title>Tatneft Pjsc ADS (REPR 6 ORD RUB0.1)</title>
        <cusip>876629205</cusip>
        <identifiers>
          <isin value="US8766292051"/>
          <ticker value="ATAD"/>
        </identifiers>
        <balance>1337</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>98838.21</valUSD>
        <pctVal>0.0175212784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kweichow Moutai</name>
        <lei>N/A</lei>
        <title>Kweichow Moutai 'A'CNY1</title>
        <cusip>Y5070V116</cusip>
        <identifiers>
          <isin value="CNE0000018R8"/>
          <ticker value="600519"/>
        </identifiers>
        <balance>1881</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>319804.45</valUSD>
        <pctVal>0.0566924756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bosideng International Holdings</name>
        <lei>N/A</lei>
        <title>Bosideng International Holdings USD0.00001</title>
        <cusip>G12652106</cusip>
        <identifiers>
          <isin value="KYG126521064"/>
          <ticker value="3998"/>
        </identifiers>
        <balance>301600</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>108358.28</valUSD>
        <pctVal>0.0192089233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arab National Bank</name>
        <lei>213800CYWGYQVT1ZBQ57</lei>
        <title>Arab National Bank SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA0007879105"/>
          <ticker value="1080"/>
        </identifiers>
        <balance>15052</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>109996.48</valUSD>
        <pctVal>0.0194993308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zoomlion Heavy Industry Science and Technology Co., Ltd.</name>
        <lei>529900QZ3EMAU0QKFK85</lei>
        <title>Zoomlion Heavy Industry Science and Technology Co., Ltd. CNY1 H</title>
        <cusip>Y9895V103</cusip>
        <identifiers>
          <isin value="CNE100000X85"/>
          <ticker value="1157"/>
        </identifiers>
        <balance>351200</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>294842.14</valUSD>
        <pctVal>0.0522673491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindalco Industries</name>
        <lei>335800KXLE5NO5B4GF90</lei>
        <title>Hindalco Industries INR1</title>
        <cusip>Y3196V185</cusip>
        <identifiers>
          <isin value="INE038A01020"/>
          <ticker value="HINDALCO"/>
        </identifiers>
        <balance>116486</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>353341.32</valUSD>
        <pctVal>0.0626376342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dmci Hldgs Inc</name>
        <lei>N/A</lei>
        <title>Dmci Hldgs Inc PHP1</title>
        <cusip>Y2088F100</cusip>
        <identifiers>
          <isin value="PHY2088F1004"/>
          <ticker value="DMC"/>
        </identifiers>
        <balance>324300</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>42082.48</valUSD>
        <pctVal>0.0074600587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Holdings Limited</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Limited HKD0.00002</title>
        <cusip>G87572163</cusip>
        <identifiers>
          <isin value="KYG875721634"/>
          <ticker value="700"/>
        </identifiers>
        <balance>77300</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>3728839.51</valUSD>
        <pctVal>0.6610200170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dr. Reddys Laboratories Limited</name>
        <lei>335800OVDPY3DVZR2798</lei>
        <title>Dr. Reddys Laboratories Limited ADS EACH REPR 1 ORD INR5</title>
        <cusip>256135203</cusip>
        <identifiers>
          <isin value="US2561352038"/>
          <ticker value="RDY"/>
        </identifiers>
        <balance>9015</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>365828.7</valUSD>
        <pctVal>0.0648513010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Meritz Securities Co.,Ltd</name>
        <lei>988400WORE06JMSEKC47</lei>
        <title>Meritz Securities Co.,Ltd KRW1000</title>
        <cusip>Y594DP360</cusip>
        <identifiers>
          <isin value="KR7008560005"/>
          <ticker value="A008560"/>
        </identifiers>
        <balance>29490</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>96513.54</valUSD>
        <pctVal>0.0171091788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK Hynix Inc.</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK Hynix Inc. KRW5000</title>
        <cusip>Y8085F100</cusip>
        <identifiers>
          <isin value="KR7000660001"/>
          <ticker value="A000660"/>
        </identifiers>
        <balance>11747</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>954695.31</valUSD>
        <pctVal>0.1692410490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Abu Dhabi Islamic Bank PJSC</name>
        <lei>5493006DOLY8O98XHD74</lei>
        <title>Abu Dhabi Islamic Bank PJSC AED1</title>
        <cusip>M0152R102</cusip>
        <identifiers>
          <isin value="AEA000801018"/>
          <ticker value="ADIB"/>
        </identifiers>
        <balance>60012</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>88075.67</valUSD>
        <pctVal>0.0156133780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Resources Cement Holdings Limited</name>
        <lei>529900E0EOYXYJ0GHY66</lei>
        <title>China Resources Cement Holdings Limited HKD0.1</title>
        <cusip>G2113L106</cusip>
        <identifiers>
          <isin value="KYG2113L1068"/>
          <ticker value="1313"/>
        </identifiers>
        <balance>153600</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>195662.55</valUSD>
        <pctVal>0.0346855534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Petroleo Brasileiro SA</name>
        <lei>5493000J801JZRCMFE49</lei>
        <title>Petroleo Brasileiro SA SPON ADS EACH REP 2 ORD SHS</title>
        <cusip>71654V408</cusip>
        <identifiers>
          <isin value="US71654V4086"/>
          <ticker value="PBR"/>
        </identifiers>
        <balance>20453</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>326020.82</valUSD>
        <pctVal>0.0577944659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adaro Energy Tbk</name>
        <lei>529900P2WAH7XA87OI24</lei>
        <title>Adaro Energy Tbk IDR100</title>
        <cusip>Y7087B109</cusip>
        <identifiers>
          <isin value="ID1000111305"/>
          <ticker value="ADRO"/>
        </identifiers>
        <balance>1633700</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>181875.32</valUSD>
        <pctVal>0.0322414593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vipshop Holdings Limited</name>
        <lei>549300I9F52K06HPZX60</lei>
        <title>Vipshop Holdings Limited SPON ADS EA REPR 0.2 ORD SHS CL A</title>
        <cusip>92763W103</cusip>
        <identifiers>
          <isin value="US92763W1036"/>
          <ticker value="VIPS"/>
        </identifiers>
        <balance>36721</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>520336.57</valUSD>
        <pctVal>0.0922412690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAP Sa</name>
        <lei>54930079GPG23NTBB003</lei>
        <title>CAP Sa COM NPV</title>
        <cusip>P25625107</cusip>
        <identifiers>
          <isin value="CLP256251073"/>
          <ticker value="CAP"/>
        </identifiers>
        <balance>12704</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="751.95"/>
        <valUSD>96388.03</valUSD>
        <pctVal>0.0170869293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EDP Energias do Brasil SA</name>
        <lei>N/A</lei>
        <title>EDP Energias do Brasil SA COM NPV</title>
        <cusip>P3769R108</cusip>
        <identifiers>
          <isin value="BRENBRACNOR2"/>
          <ticker value="ENBR3"/>
        </identifiers>
        <balance>36100</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>198526.51</valUSD>
        <pctVal>0.0351932543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shennan Circuits Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Shennan Circuits Co., Ltd. A CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100003373"/>
          <ticker value="002916"/>
        </identifiers>
        <balance>4300</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>87775.88</valUSD>
        <pctVal>0.0155602336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gentera SAB de CV</name>
        <lei>N/A</lei>
        <title>Gentera SAB de CV COM NPV</title>
        <cusip>P4831V101</cusip>
        <identifiers>
          <isin value="MX01GE0E0004"/>
          <ticker value="GENTERA *"/>
        </identifiers>
        <balance>99600</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>102141.69</valUSD>
        <pctVal>0.0181068940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Macro S.A.</name>
        <lei>579100KKDKKIFEBKK040</lei>
        <title>Banco Macro S.A. SPON ADR EACH REP 10 ORD SHS CL B</title>
        <cusip>05961W105</cusip>
        <identifiers>
          <isin value="US05961W1053"/>
          <ticker value="BMA"/>
        </identifiers>
        <balance>4117</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149241.25</valUSD>
        <pctVal>0.0264563421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Transfar Zhilian Co Ltd</name>
        <lei>N/A</lei>
        <title>Transfar Zhilian Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000001JS7"/>
          <ticker value="002010"/>
        </identifiers>
        <balance>66338</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>66552.96</valUSD>
        <pctVal>0.0117979974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco BTG Pactual S.A.</name>
        <lei>ZXLTQRYIK6IJH3R0IK66</lei>
        <title>Banco BTG Pactual S.A. UNITS (1 COM &amp; 2 PRF CL'A')</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRBPACUNT006"/>
          <ticker value="BPAC11"/>
        </identifiers>
        <balance>14700</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>278363.39</valUSD>
        <pctVal>0.0493461229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shinhan Financial Group Co Ltd</name>
        <lei>988400EB8A6G49E5KO54</lei>
        <title>Shinhan Financial Group Co Ltd KRW5000</title>
        <cusip>Y7749X101</cusip>
        <identifiers>
          <isin value="KR7055550008"/>
          <ticker value="A055550"/>
        </identifiers>
        <balance>11220</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>419624.82</valUSD>
        <pctVal>0.0743878638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Thanachart Capital Public Company Limited</name>
        <lei>529900VNNYCFS81B3436</lei>
        <title>Thanachart Capital Public Company Limited NON VTG DEP RCPT REP 1 ORD THB10</title>
        <cusip>Y8738D106</cusip>
        <identifiers>
          <isin value="TH0083010R14"/>
          <ticker value="TCAP-R"/>
        </identifiers>
        <balance>153663</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>273658.45</valUSD>
        <pctVal>0.0485120673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Telecom Corp., Ltd.</name>
        <lei>529900JXXCCUCX634T88</lei>
        <title>China Telecom Corp., Ltd. CNY1'H'SHS</title>
        <cusip>Y1505D102</cusip>
        <identifiers>
          <isin value="CNE1000002V2"/>
          <ticker value="728"/>
        </identifiers>
        <balance>1130000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>463772.86</valUSD>
        <pctVal>0.0822140891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Resources Power Holdings Co.</name>
        <lei>529900K60FC0AI053735</lei>
        <title>China Resources Power Holdings Co. NPV</title>
        <cusip>Y1503A100</cusip>
        <identifiers>
          <isin value="HK0836012952"/>
          <ticker value="836"/>
        </identifiers>
        <balance>209731</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>294536.95</valUSD>
        <pctVal>0.0522132474</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>Korea Investment Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Korea Investment Holdings Co Ltd KRW5000</title>
        <cusip>Y4862P106</cusip>
        <identifiers>
          <isin value="KR7071050009"/>
          <ticker value="A071050"/>
        </identifiers>
        <balance>1055</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>65907.14</valUSD>
        <pctVal>0.0116835114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Play Communications S.A.</name>
        <lei>222100EYB9HNJPI80514</lei>
        <title>Play Communications S.A. EUR0.00012</title>
        <cusip>L7635Y118</cusip>
        <identifiers>
          <isin value="LU1642887738"/>
          <ticker value="PLY"/>
        </identifiers>
        <balance>24964</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.7939"/>
        <valUSD>230356.55</valUSD>
        <pctVal>0.0408358392</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindustan Petroleum Corporation Limited</name>
        <lei>335800DWLXIP7HFFY564</lei>
        <title>Hindustan Petroleum Corporation Limited INR10</title>
        <cusip>Y3224R123</cusip>
        <identifiers>
          <isin value="INE094A01015"/>
          <ticker value="HINDPETRO"/>
        </identifiers>
        <balance>95661</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>354640.66</valUSD>
        <pctVal>0.0628679712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNOOC Limited</name>
        <lei>549300XIVJCBIGMRUD48</lei>
        <title>CNOOC Limited NPV</title>
        <cusip>Y1662W117</cusip>
        <identifiers>
          <isin value="HK0883013259"/>
          <ticker value="883"/>
        </identifiers>
        <balance>444342</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>740575.03</valUSD>
        <pctVal>0.1312834510</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>Hyundai Fire&amp;Marin</name>
        <lei>988400SYR92543UITC37</lei>
        <title>Hyundai Fire&amp;Marin KRW500</title>
        <cusip>Y3842K104</cusip>
        <identifiers>
          <isin value="KR7001450006"/>
          <ticker value="A001450"/>
        </identifiers>
        <balance>2864</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>66653.04</valUSD>
        <pctVal>0.0118157388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Airasia Group Berhad</name>
        <lei>254900DXJV33ESHCH044</lei>
        <title>Airasia Group Berhad NPV</title>
        <cusip>Y0029V101</cusip>
        <identifiers>
          <isin value="MYL5099OO006"/>
          <ticker value="AIRASIA"/>
        </identifiers>
        <balance>213912</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>88932.86</valUSD>
        <pctVal>0.0157653341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shandong Weigao Group Medical Polymer Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Shandong Weigao Group Medical Polymer Co., Ltd. 'H'CNY0.1</title>
        <cusip>Y76810103</cusip>
        <identifiers>
          <isin value="CNE100000171"/>
          <ticker value="1066"/>
        </identifiers>
        <balance>80000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>95978.52</valUSD>
        <pctVal>0.0170143346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China National Building Material Co Ltd</name>
        <lei>52990085PGF8YEPLBZ26</lei>
        <title>China National Building Material Co Ltd 'H'CNY1</title>
        <cusip>Y15045100</cusip>
        <identifiers>
          <isin value="CNE1000002N9"/>
          <ticker value="3323"/>
        </identifiers>
        <balance>328000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>366425.19</valUSD>
        <pctVal>0.0649570422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of China Limited</name>
        <lei>54930053HGCFWVHYZX42</lei>
        <title>Bank of China Limited 'H'CNY1</title>
        <cusip>Y0698A107</cusip>
        <identifiers>
          <isin value="CNE1000001Z5"/>
          <ticker value="3988"/>
        </identifiers>
        <balance>353106</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>151198.05</valUSD>
        <pctVal>0.0268032285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POSCO</name>
        <lei>988400E5HRVX81AYLM04</lei>
        <title>POSCO KRW5000</title>
        <cusip>Y70750115</cusip>
        <identifiers>
          <isin value="KR7005490008"/>
          <ticker value="A005490"/>
        </identifiers>
        <balance>2136</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>435191.94</valUSD>
        <pctVal>0.0771474832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Microelectronics Corp</name>
        <lei>391200YJCAGH9LF96P73</lei>
        <title>United Microelectronics Corp TWD10</title>
        <cusip>Y92370108</cusip>
        <identifiers>
          <isin value="TW0002303005"/>
          <ticker value="2303"/>
        </identifiers>
        <balance>908000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>499005.61</valUSD>
        <pctVal>0.0884598803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Lesso Group Holdings Ltd</name>
        <lei>N/A</lei>
        <title>China Lesso Group Holdings Ltd HKD0.05</title>
        <cusip>G2157Q102</cusip>
        <identifiers>
          <isin value="KYG2157Q1029"/>
          <ticker value="2128"/>
        </identifiers>
        <balance>228000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>292707.91</valUSD>
        <pctVal>0.0518890092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kalbe Farma</name>
        <lei>N/A</lei>
        <title>Kalbe Farma IDR10</title>
        <cusip>Y71287208</cusip>
        <identifiers>
          <isin value="ID1000125107"/>
          <ticker value="KLBF"/>
        </identifiers>
        <balance>610700</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>71099.5</valUSD>
        <pctVal>0.0126039731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Housing Development Finance Corporation Ltd</name>
        <lei>335800OX2H9AP7NHLT64</lei>
        <title>Housing Development Finance Corporation Ltd INR2</title>
        <cusip>Y37246207</cusip>
        <identifiers>
          <isin value="INE001A01036"/>
          <ticker value="HDFC"/>
        </identifiers>
        <balance>27658</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>936614.66</valUSD>
        <pctVal>0.1660358502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>B3 S.A. - Brasil, Bolsa, Balcao</name>
        <lei>4GTK5S46E6H318LMDS44</lei>
        <title>B3 S.A. - Brasil, Bolsa, Balcao COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRB3SAACNOR6"/>
          <ticker value="B3SA3"/>
        </identifiers>
        <balance>33700</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>360111.48</valUSD>
        <pctVal>0.0638377962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saudi Ind Inv Grp</name>
        <lei>N/A</lei>
        <title>Saudi Ind Inv Grp SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA000A0B89Q3"/>
          <ticker value="2250"/>
        </identifiers>
        <balance>18534</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>118644.44</valUSD>
        <pctVal>0.0210323747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chong Qing Brewery</name>
        <lei>N/A</lei>
        <title>Chong Qing Brewery 'A'CNY1</title>
        <cusip>Y15846101</cusip>
        <identifiers>
          <isin value="CNE000000TL3"/>
        </identifiers>
        <balance>13100</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>97756.55</valUSD>
        <pctVal>0.0173295301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yanzhou Coal Mining Company Limited</name>
        <lei>3003005N7A6HYZ4Z0K39</lei>
        <title>Yanzhou Coal Mining Company Limited 'H'CNY1</title>
        <cusip>Y97417102</cusip>
        <identifiers>
          <isin value="CNE1000004Q8"/>
          <ticker value="1171"/>
        </identifiers>
        <balance>124000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>111432.67</valUSD>
        <pctVal>0.0197539275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guangzhou R&amp;F Properties Co. Ltd.</name>
        <lei>529900ICJ8CK8LFWH863</lei>
        <title>Guangzhou R&amp;F Properties Co. Ltd. 'H'CNY0.25</title>
        <cusip>Y2933F115</cusip>
        <identifiers>
          <isin value="CNE100000569"/>
          <ticker value="2777"/>
        </identifiers>
        <balance>216909</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>400493.31</valUSD>
        <pctVal>0.0709963767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ssangyong Cement Industry Co.,Ltd</name>
        <lei>988400C946J1SLJG5E05</lei>
        <title>Ssangyong Cement Industry Co.,Ltd KRW1000</title>
        <cusip>Y81431101</cusip>
        <identifiers>
          <isin value="KR7003410008"/>
          <ticker value="A003410"/>
        </identifiers>
        <balance>13335</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>65317.62</valUSD>
        <pctVal>0.0115790058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhejiang Expressway Co., Limited.</name>
        <lei>213800X1ZRKM85U9H438</lei>
        <title>Zhejiang Expressway Co., Limited. 'H'CNY1</title>
        <cusip>Y9891F102</cusip>
        <identifiers>
          <isin value="CNE1000004S4"/>
          <ticker value="576"/>
        </identifiers>
        <balance>38400</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>35048.04</valUSD>
        <pctVal>0.0062130472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Petroleo Brasileiro SA</name>
        <lei>5493000J801JZRCMFE49</lei>
        <title>Petroleo Brasileiro SA PRF NPV</title>
        <cusip>P78331140</cusip>
        <identifiers>
          <isin value="BRPETRACNPR6"/>
          <ticker value="PETR4"/>
        </identifiers>
        <balance>12900</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>96545.99</valUSD>
        <pctVal>0.0171149313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhen Ding Technology Holding Ltd</name>
        <lei>N/A</lei>
        <title>Zhen Ding Technology Holding Ltd TWD10</title>
        <cusip>G98922100</cusip>
        <identifiers>
          <isin value="KYG989221000"/>
          <ticker value="4958"/>
        </identifiers>
        <balance>84000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>401688.94</valUSD>
        <pctVal>0.0712083288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Unicom (Hong Kong) Limited</name>
        <lei>5299006RQXYNFYPOUS20</lei>
        <title>China Unicom (Hong Kong) Limited NPV</title>
        <cusip>Y1519S111</cusip>
        <identifiers>
          <isin value="HK0000049939"/>
          <ticker value="762"/>
        </identifiers>
        <balance>398000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>375709.2</valUSD>
        <pctVal>0.0666028401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chongyi Zhangyuan</name>
        <lei>N/A</lei>
        <title>Chongyi Zhangyuan 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000MX2"/>
          <ticker value="002378"/>
        </identifiers>
        <balance>109398</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>82935.45</valUSD>
        <pctVal>0.0147021593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guangzhou Pharmaceutical Holdings Limited</name>
        <lei>529900ROARJHMUIME057</lei>
        <title>Guangzhou Pharmaceutical Holdings Limited 'H'CNY1</title>
        <cusip>Y2932P106</cusip>
        <identifiers>
          <isin value="CNE100000387"/>
          <ticker value="874"/>
        </identifiers>
        <balance>38000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>129937.54</valUSD>
        <pctVal>0.0230343287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vale S.A.</name>
        <lei>254900SMTWBX7RU2SR20</lei>
        <title>Vale S.A. SPONS ADS REPR 1 COM NPV</title>
        <cusip>91912E105</cusip>
        <identifiers>
          <isin value="US91912E1055"/>
          <ticker value="VALE"/>
        </identifiers>
        <balance>41644</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>549700.8</valUSD>
        <pctVal>0.0974467341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Postal Savings Bank of China Co., Ltd</name>
        <lei>300300C1040311005298</lei>
        <title>Postal Savings Bank of China Co., Ltd 'H' CNY1</title>
        <cusip>Y6987V108</cusip>
        <identifiers>
          <isin value="CNE1000029W3"/>
          <ticker value="1658"/>
        </identifiers>
        <balance>681000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>463345.5</valUSD>
        <pctVal>0.0821383300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saudi Telecom Company</name>
        <lei>21380028ATJ79OTA9W17</lei>
        <title>Saudi Telecom Company SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA0007879543"/>
          <ticker value="7010"/>
        </identifiers>
        <balance>7333</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>199040.9</valUSD>
        <pctVal>0.0352844414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IOCHPE MAXION SA</name>
        <lei>N/A</lei>
        <title>IOCHPE MAXION SA COM NPV</title>
        <cusip>P58749105</cusip>
        <identifiers>
          <isin value="BRMYPKACNOR7"/>
          <ticker value="MYPK3"/>
        </identifiers>
        <balance>27700</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>161447.19</valUSD>
        <pctVal>0.0286201173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mediatek Inc</name>
        <lei>254900UEGBK1I4DM4E14</lei>
        <title>Mediatek Inc TWD10</title>
        <cusip>Y5945U103</cusip>
        <identifiers>
          <isin value="TW0002454006"/>
          <ticker value="2454"/>
        </identifiers>
        <balance>25000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>370020.76</valUSD>
        <pctVal>0.0655944372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Mobile Limited</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>China Mobile Limited NPV</title>
        <cusip>Y14965100</cusip>
        <identifiers>
          <isin value="HK0941009539"/>
          <ticker value="941"/>
        </identifiers>
        <balance>49583</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>418668.27</valUSD>
        <pctVal>0.0742182940</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>Industrial Bank of Korea</name>
        <lei>988400RBIWE3YA18PK12</lei>
        <title>Industrial Bank of Korea KRW5000</title>
        <cusip>Y3994L108</cusip>
        <identifiers>
          <isin value="KR7024110009"/>
          <ticker value="A024110"/>
        </identifiers>
        <balance>9774</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>99706.45</valUSD>
        <pctVal>0.0176751933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tripod Technology Corporation</name>
        <lei>N/A</lei>
        <title>Tripod Technology Corporation TWD10</title>
        <cusip>Y8974X105</cusip>
        <identifiers>
          <isin value="TW0003044004"/>
          <ticker value="3044"/>
        </identifiers>
        <balance>66000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>276843.19</valUSD>
        <pctVal>0.0490766335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IRB BRASIL RESSEGUROS SA</name>
        <lei>21380017DVWSU9AEU878</lei>
        <title>IRB BRASIL RESSEGUROS SA COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRIRBRACNOR4"/>
          <ticker value="IRBR3"/>
        </identifiers>
        <balance>34600</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>335254.48</valUSD>
        <pctVal>0.0594313382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hyundai Motor Company</name>
        <lei>9884004RQX8PRBXQ8S60</lei>
        <title>Hyundai Motor Company KRW5000</title>
        <cusip>Y38472109</cusip>
        <identifiers>
          <isin value="KR7005380001"/>
          <ticker value="A005380"/>
        </identifiers>
        <balance>1568</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>163041.62</valUSD>
        <pctVal>0.0289027656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kia Motors Corporation</name>
        <lei>988400V8MJK9N7OI5X76</lei>
        <title>Kia Motors Corporation KRW5000</title>
        <cusip>Y47601102</cusip>
        <identifiers>
          <isin value="KR7000270009"/>
          <ticker value="A000270"/>
        </identifiers>
        <balance>13601</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>518079.2</valUSD>
        <pctVal>0.0918410998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Larsen &amp; Toubro Limited</name>
        <lei>3358003FR3JIC5FRXA90</lei>
        <title>Larsen &amp; Toubro Limited INR2</title>
        <cusip>Y5217N159</cusip>
        <identifiers>
          <isin value="INE018A01030"/>
          <ticker value="LT"/>
        </identifiers>
        <balance>9729</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>177126.43</valUSD>
        <pctVal>0.0313996125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agile Group Holdings Limited</name>
        <lei>549300ZRISRT38EEYY07</lei>
        <title>Agile Group Holdings Limited HKD0.10</title>
        <cusip>G01198103</cusip>
        <identifiers>
          <isin value="KYG011981035"/>
          <ticker value="3383"/>
        </identifiers>
        <balance>280000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>421790.23</valUSD>
        <pctVal>0.0747717311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MRV ENGENHARIA E PART SA</name>
        <lei>N/A</lei>
        <title>MRV ENGENHARIA E PART SA COM NPV</title>
        <cusip>P6986W107</cusip>
        <identifiers>
          <isin value="BRMRVEACNOR2"/>
          <ticker value="MRVE3"/>
        </identifiers>
        <balance>58800</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>315181.35</valUSD>
        <pctVal>0.0558729280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jointown Pharmaceutical Group Co. Ltd</name>
        <lei>N/A</lei>
        <title>Jointown Pharmaceutical Group Co. Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000W45"/>
          <ticker value="JOINTW"/>
        </identifiers>
        <balance>124692</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>253298.39</valUSD>
        <pctVal>0.0449027923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Major Cineplex Gro</name>
        <lei>N/A</lei>
        <title>Major Cineplex Gro THB1 (NVDR)</title>
        <cusip>Y54190106</cusip>
        <identifiers>
          <isin value="TH0671010R16"/>
          <ticker value="MAJOR-R"/>
        </identifiers>
        <balance>81800</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>68879.96</valUSD>
        <pctVal>0.0122105101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Industrial and Commercial Bank of China Limited</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>Industrial and Commercial Bank of China Limited 'H'CNY1</title>
        <cusip>Y3990B112</cusip>
        <identifiers>
          <isin value="CNE1000003G1"/>
          <ticker value="1398"/>
        </identifiers>
        <balance>1311141</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1012071.36</valUSD>
        <pctVal>0.1794122342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daelim industrial co</name>
        <lei>988400LJMYZ3ZOXJVE47</lei>
        <title>Daelim industrial co KRW5000</title>
        <cusip>Y1860N109</cusip>
        <identifiers>
          <isin value="KR7000210005"/>
          <ticker value="A000210"/>
        </identifiers>
        <balance>1383</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>107875.26</valUSD>
        <pctVal>0.0191232972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anta Sports Produc</name>
        <lei>529900291XG0CTK4LF95</lei>
        <title>Anta Sports Produc HKD0.10</title>
        <cusip>G04011105</cusip>
        <identifiers>
          <isin value="KYG040111059"/>
          <ticker value="2020"/>
        </identifiers>
        <balance>52000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>465688.03</valUSD>
        <pctVal>0.0825535957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beiqi Foton Motor Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Beiqi Foton Motor Co., Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000WC6"/>
          <ticker value="FUTON"/>
        </identifiers>
        <balance>238600</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>71638.11</valUSD>
        <pctVal>0.0126994537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wijaya Karya</name>
        <lei>549300K1GF7D3VC6TZ97</lei>
        <title>Wijaya Karya IDR100</title>
        <cusip>Y7148V102</cusip>
        <identifiers>
          <isin value="ID1000107600"/>
          <ticker value="WIKA"/>
        </identifiers>
        <balance>189240</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>26978.92</valUSD>
        <pctVal>0.0047826156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jarir Marketing Company</name>
        <lei>N/A</lei>
        <title>Jarir Marketing Company SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA000A0BLA62"/>
          <ticker value="4190"/>
        </identifiers>
        <balance>2708</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>119559.62</valUSD>
        <pctVal>0.0211946108</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rec Ltd</name>
        <lei>335800B4YRYWAMIJZ374</lei>
        <title>Rec Ltd INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE020B01018"/>
          <ticker value="RECLTD"/>
        </identifiers>
        <balance>180897</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>362972.96</valUSD>
        <pctVal>0.0643450574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Quality Houses Public Company Limited</name>
        <lei>N/A</lei>
        <title>Quality Houses Public Company Limited NON VTG DEP RCPT REP 1 ORD THB1</title>
        <cusip>Y7173A213</cusip>
        <identifiers>
          <isin value="TH0256010R16"/>
          <ticker value="QH-R"/>
        </identifiers>
        <balance>1151500</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>98306.87</valUSD>
        <pctVal>0.0174270866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Engineers India</name>
        <lei>335800D8QCOQANG91D62</lei>
        <title>Engineers India INR5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE510A01028"/>
          <ticker value="ENGINERSIN"/>
        </identifiers>
        <balance>80640</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>111826.2</valUSD>
        <pctVal>0.0198236895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ooredoo</name>
        <lei>549300D3EIDZJB62TR20</lei>
        <title>Ooredoo QAR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="QA0007227737"/>
          <ticker value="ORDS"/>
        </identifiers>
        <balance>81849</balance>
        <units>NS</units>
        <currencyConditional curCd="QAR" exchangeRt="3.641"/>
        <valUSD>159167.58</valUSD>
        <pctVal>0.0282160056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>QA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>America Movil S.A.B. de C.V.</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>America Movil S.A.B. de C.V. ADR EACH REP 20 SHS NPV SER'L'</title>
        <cusip>02364W105</cusip>
        <identifiers>
          <isin value="US02364W1053"/>
          <ticker value="AMX"/>
        </identifiers>
        <balance>468411</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7494576</valUSD>
        <pctVal>1.3285808471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haupont-Life Science Co Ltd</name>
        <lei>N/A</lei>
        <title>Haupont-Life Science Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000001JJ6"/>
          <ticker value="002004"/>
        </identifiers>
        <balance>142491</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>101045.52</valUSD>
        <pctVal>0.0179125734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apeloa Pharmaceutical Co Ltd</name>
        <lei>N/A</lei>
        <title>Apeloa Pharmaceutical Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000Q45"/>
          <ticker value="000739"/>
        </identifiers>
        <balance>60691</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>113001.98</valUSD>
        <pctVal>0.0200321227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lojas Americanas SA</name>
        <lei>N/A</lei>
        <title>Lojas Americanas SA PREF NPV</title>
        <cusip>P6329M105</cusip>
        <identifiers>
          <isin value="BRLAMEACNPR6"/>
          <ticker value="LAME4"/>
        </identifiers>
        <balance>1196156</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>7725773.2</valUSD>
        <pctVal>1.3695657103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Mobile Limited</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>China Mobile Limited NPV</title>
        <cusip>Y14965100</cusip>
        <identifiers>
          <isin value="HK0941009539"/>
          <ticker value="941"/>
        </identifiers>
        <balance>1076002</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>9085531.29</valUSD>
        <pctVal>1.6106131765</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>Akbank T.A.S.</name>
        <lei>789000TUMN63Z28TJ497</lei>
        <title>Akbank T.A.S. TRY1</title>
        <cusip>M0300L106</cusip>
        <identifiers>
          <isin value="TRAAKBNK91N6"/>
          <ticker value="AKBNK"/>
        </identifiers>
        <balance>79059</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.949"/>
        <valUSD>107858.14</valUSD>
        <pctVal>0.0191202623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Uni-President Enterprises Corp</name>
        <lei>254900DAXBDMVEXU5959</lei>
        <title>Uni-President Enterprises Corp TWD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001216000"/>
          <ticker value="1216"/>
        </identifiers>
        <balance>210000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>519798.51</valUSD>
        <pctVal>0.0921458859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PT Media Nusantara Cirta Tbk</name>
        <lei>254900Y0ZF75CIA04X94</lei>
        <title>PT Media Nusantara Cirta Tbk IDR100</title>
        <cusip>Y71280104</cusip>
        <identifiers>
          <isin value="ID1000106206"/>
          <ticker value="MNCN"/>
        </identifiers>
        <balance>558960</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>65499</valUSD>
        <pctVal>0.0116111594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inner Mongolia Eerduosi Resources Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Inner Mongolia Eerduosi Resources Co., Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE0000017T6"/>
          <ticker value="EERDUO"/>
        </identifiers>
        <balance>24047</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>31163.52</valUSD>
        <pctVal>0.0055244294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Advanced Technologies &amp; Materials</name>
        <lei>N/A</lei>
        <title>Advanced Technologies &amp; Materials 'A'CNY1</title>
        <cusip>Y0015Z108</cusip>
        <identifiers>
          <isin value="CNE0000012X9"/>
          <ticker value="000969"/>
        </identifiers>
        <balance>119789</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>114561.32</valUSD>
        <pctVal>0.0203085506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truworths International</name>
        <lei>N/A</lei>
        <title>Truworths International ZAR0.00015</title>
        <cusip>S8793H130</cusip>
        <identifiers>
          <isin value="ZAE000028296"/>
          <ticker value="TRU"/>
        </identifiers>
        <balance>1188714</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>4178927.21</valUSD>
        <pctVal>0.7408081061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dongfeng Motor Group Co Ltd</name>
        <lei>529900608W58250G7S08</lei>
        <title>Dongfeng Motor Group Co Ltd 'H'CNY1</title>
        <cusip>Y21042109</cusip>
        <identifiers>
          <isin value="CNE100000312"/>
          <ticker value="489"/>
        </identifiers>
        <balance>5690000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>5360796.02</valUSD>
        <pctVal>0.9503207276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commercial Intl Bk</name>
        <lei>213800FIIXJAMEVRIH48</lei>
        <title>Commercial Intl Bk EGP10</title>
        <cusip>M25561107</cusip>
        <identifiers>
          <isin value="EGS60121C018"/>
          <ticker value="COMI"/>
        </identifiers>
        <balance>1710600</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.05"/>
        <valUSD>8848225.05</valUSD>
        <pctVal>1.5685453496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hyundai Mobis</name>
        <lei>988400HJA9E0ZVDHRS65</lei>
        <title>Hyundai Mobis KRW5000</title>
        <cusip>Y3849A109</cusip>
        <identifiers>
          <isin value="KR7012330007"/>
          <ticker value="A012330"/>
        </identifiers>
        <balance>19990</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>4420477.82</valUSD>
        <pctVal>0.7836283422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLDT Inc</name>
        <lei>254900ADE8GQHM5P2648</lei>
        <title>PLDT Inc ADR EACH REP 1 ORD SHS</title>
        <cusip>69344D408</cusip>
        <identifiers>
          <isin value="US69344D4088"/>
          <ticker value="PHI"/>
        </identifiers>
        <balance>5182</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>103588.18</valUSD>
        <pctVal>0.0183633166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dubai Islamic Bank PJSC</name>
        <lei>5493003E7YRAQY3JGW88</lei>
        <title>Dubai Islamic Bank PJSC AED1</title>
        <cusip>M2888J107</cusip>
        <identifiers>
          <isin value="AED000201015"/>
          <ticker value="DIB"/>
        </identifiers>
        <balance>266027</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>398840.93</valUSD>
        <pctVal>0.0707034555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POSCO</name>
        <lei>988400E5HRVX81AYLM04</lei>
        <title>POSCO KRW5000</title>
        <cusip>Y70750115</cusip>
        <identifiers>
          <isin value="KR7005490008"/>
          <ticker value="A005490"/>
        </identifiers>
        <balance>31926</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>6504652.55</valUSD>
        <pctVal>1.1530948242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co. TWD10</title>
        <cusip>Y84629107</cusip>
        <identifiers>
          <isin value="TW0002330008"/>
          <ticker value="2330"/>
        </identifiers>
        <balance>1704952</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>18881442.15</valUSD>
        <pctVal>3.3471569848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bidvest Group</name>
        <lei>5299002ARE4TRMIRGM72</lei>
        <title>Bidvest Group ZAR0.05</title>
        <cusip>S1201R162</cusip>
        <identifiers>
          <isin value="ZAE000117321"/>
          <ticker value="BVT"/>
        </identifiers>
        <balance>439286</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>6431103.11</valUSD>
        <pctVal>1.1400565446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Telesites SAB de CV</name>
        <lei>N/A</lei>
        <title>Telesites SAB de CV COM NPV SER 'B-1'</title>
        <cusip>P90355135</cusip>
        <identifiers>
          <isin value="MX01SI080038"/>
          <ticker value="SITES B-1"/>
        </identifiers>
        <balance>304068</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>225146.21</valUSD>
        <pctVal>0.0399121901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emaar Properties</name>
        <lei>N/A</lei>
        <title>Emaar Properties AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AEE000301011"/>
          <ticker value="EMAAR"/>
        </identifiers>
        <balance>3994419</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>4372755.68</valUSD>
        <pctVal>0.7751685280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emaar Properties</name>
        <lei>N/A</lei>
        <title>Emaar Properties AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AEE000301011"/>
          <ticker value="EMAAR"/>
        </identifiers>
        <balance>79046</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>86532.95</valUSD>
        <pctVal>0.0153398965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sibanye Gold Ltd</name>
        <lei>378900B37FC0F94CE967</lei>
        <title>Sibanye Gold Ltd SPON ADR EACH REP 4 ORD SHS</title>
        <cusip>825724206</cusip>
        <identifiers>
          <isin value="US8257242060"/>
          <ticker value="SBGL"/>
        </identifiers>
        <balance>24163</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>239938.59</valUSD>
        <pctVal>0.0425344696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qatar National Bank Q P S C</name>
        <lei>549300FFSRVBS0SQXY75</lei>
        <title>Qatar National Bank Q P S C QAR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="QA0006929895"/>
          <ticker value="QNBK"/>
        </identifiers>
        <balance>41264</balance>
        <units>NS</units>
        <currencyConditional curCd="QAR" exchangeRt="3.641"/>
        <valUSD>233321.56</valUSD>
        <pctVal>0.0413614534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>QA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yduqs Participacoes</name>
        <lei>N/A</lei>
        <title>Yduqs Participacoes COM NPV</title>
        <cusip>P3784E132</cusip>
        <identifiers>
          <isin value="BRYDUQACNOR3"/>
          <ticker value="YDUQ3"/>
        </identifiers>
        <balance>48400</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>573097.78</valUSD>
        <pctVal>0.1015943709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LVMH Moet Hennessy Vuitton SE</name>
        <lei>IOG4E947OATN0KJYSD45</lei>
        <title>LVMH Moet Hennessy Vuitton SE EUR0.30</title>
        <cusip>F58485115</cusip>
        <identifiers>
          <isin value="FR0000121014"/>
          <ticker value="MC"/>
        </identifiers>
        <balance>4113</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1915552.15</valUSD>
        <pctVal>0.3395743666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baidu, Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>Baidu, Inc. SPON ADS EACH REP 0.1 ORD SHS</title>
        <cusip>056752108</cusip>
        <identifiers>
          <isin value="US0567521085"/>
          <ticker value="BIDU"/>
        </identifiers>
        <balance>24820</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3137248</valUSD>
        <pctVal>0.5561472197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HDFC Bank Ltd</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
        <title>HDFC Bank Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE040A01034"/>
          <ticker value="HDFCBANK"/>
        </identifiers>
        <balance>137264</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>2446306.55</valUSD>
        <pctVal>0.4336624285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commercial Intl Bk</name>
        <lei>213800FIIXJAMEVRIH48</lei>
        <title>Commercial Intl Bk GDR EACH REPR 1 ORD EGP10 REG'S'</title>
        <cusip>201712205</cusip>
        <identifiers>
          <isin value="US2017122050"/>
          <ticker value="CMGGF"/>
        </identifiers>
        <balance>75082</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>381924.14</valUSD>
        <pctVal>0.0677045769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Teleperformance</name>
        <lei>9695004GI61FHFFNRG61</lei>
        <title>Teleperformance EUR2.50</title>
        <cusip>F9120F106</cusip>
        <identifiers>
          <isin value="FR0000051807"/>
          <ticker value="TEP"/>
        </identifiers>
        <balance>6085</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1486774.46</valUSD>
        <pctVal>0.2635639523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gazprom Public Joint Stock Company</name>
        <lei>213800FD9J2IHTA7YX78</lei>
        <title>Gazprom Public Joint Stock Company SPON ADR-EACH REPR 2 ORD SHS</title>
        <cusip>368287207</cusip>
        <identifiers>
          <isin value="US3682872078"/>
          <ticker value="OGZPY"/>
        </identifiers>
        <balance>140077</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1153532.07</valUSD>
        <pctVal>0.2044893020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MasterCard Incorporated</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>MasterCard Incorporated CL A</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <isin value="US57636Q1040"/>
          <ticker value="MA"/>
        </identifiers>
        <balance>3940</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1176444.6</valUSD>
        <pctVal>0.2085510592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wal-Mart De Mexico</name>
        <lei>N/A</lei>
        <title>Wal-Mart De Mexico COM NPV</title>
        <cusip>P98180188</cusip>
        <identifiers>
          <isin value="MX01WA000038"/>
          <ticker value="WALMEX *"/>
        </identifiers>
        <balance>458800</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>1317131.51</valUSD>
        <pctVal>0.2334909536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Giant Mfg Co</name>
        <lei>549300M7TYVF50B2GY12</lei>
        <title>Giant Mfg Co TWD10</title>
        <cusip>Y2708Z106</cusip>
        <identifiers>
          <isin value="TW0009921007"/>
          <ticker value="9921"/>
        </identifiers>
        <balance>112000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>795607.99</valUSD>
        <pctVal>0.1410392712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LG Household &amp; Health Care Ltd</name>
        <lei>N/A</lei>
        <title>LG Household &amp; Health Care Ltd KRW5000</title>
        <cusip>Y5275R100</cusip>
        <identifiers>
          <isin value="KR7051900009"/>
          <ticker value="A051900"/>
        </identifiers>
        <balance>2038</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>2220120.7</valUSD>
        <pctVal>0.3935659389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anhui Conch Cement Co., Ltd.</name>
        <lei>529900HS6X8TTV0FHV63</lei>
        <title>Anhui Conch Cement Co., Ltd. 'H'CNY1</title>
        <cusip>Y01373102</cusip>
        <identifiers>
          <isin value="CNE1000001W2"/>
          <ticker value="914"/>
        </identifiers>
        <balance>407000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2974024.67</valUSD>
        <pctVal>0.5272122419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Construction Bank Corporation</name>
        <lei>5493001KQW6DM7KEDR62</lei>
        <title>China Construction Bank Corporation 'H'CNY1</title>
        <cusip>Y1397N101</cusip>
        <identifiers>
          <isin value="CNE1000002H1"/>
          <ticker value="939"/>
        </identifiers>
        <balance>639000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>553207.23</valUSD>
        <pctVal>0.0980683270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Limited</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Limited KRW100</title>
        <cusip>Y74718100</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
          <ticker value="A005930"/>
        </identifiers>
        <balance>242312</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>11675642.29</valUSD>
        <pctVal>2.0697681529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anta Sports Produc</name>
        <lei>529900291XG0CTK4LF95</lei>
        <title>Anta Sports Produc HKD0.10</title>
        <cusip>G04011105</cusip>
        <identifiers>
          <isin value="KYG040111059"/>
          <ticker value="2020"/>
        </identifiers>
        <balance>335600</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>3005478.92</valUSD>
        <pctVal>0.5327882097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Universal Robina</name>
        <lei>N/A</lei>
        <title>Universal Robina PHP1</title>
        <cusip>Y9297P100</cusip>
        <identifiers>
          <isin value="PHY9297P1004"/>
          <ticker value="URC"/>
        </identifiers>
        <balance>157200</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>450604.68</valUSD>
        <pctVal>0.0798797354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MMC Norilsk Nickel Public Joint Stock Company</name>
        <lei>253400JPTEEW143W3E47</lei>
        <title>MMC Norilsk Nickel Public Joint Stock Company SPON ADR EACH REPR 0.1 ORD SHS</title>
        <cusip>55315J102</cusip>
        <identifiers>
          <isin value="US55315J1025"/>
          <ticker value="NILSY"/>
        </identifiers>
        <balance>48148</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1472601.19</valUSD>
        <pctVal>0.2610514239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAL Ed Group</name>
        <lei>5493003PJZS0EC085V72</lei>
        <title>TAL Ed Group SPON ADS EACH REP 0.3333 CL A ORD SHS</title>
        <cusip>874080104</cusip>
        <identifiers>
          <isin value="US8740801043"/>
          <ticker value="TAL"/>
        </identifiers>
        <balance>15600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>751920</valUSD>
        <pctVal>0.1332946001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Intl Travel</name>
        <lei>N/A</lei>
        <title>China Intl Travel 'A'CNY1</title>
        <cusip>Y149A3100</cusip>
        <identifiers>
          <isin value="CNE100000G29"/>
          <ticker value="601888"/>
        </identifiers>
        <balance>29851</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>381748.71</valUSD>
        <pctVal>0.0676734781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICE Futures US Indices</name>
        <lei>5493004R83R1LVX2IL36</lei>
        <title>MAR 20 ICUS MSCI MAR 20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="MESH0"/>
          <other otherDesc="NT_ID" value="9J1DS1U"/>
        </identifiers>
        <balance>207</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>11594070</valUSD>
        <pctVal>2.0553076441</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Futures US Indices</counterpartyName>
              <counterpartyLei>5493004R83R1LVX2IL36</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>MSCI Emerging Markets Index</indexName>
                <indexIdentifier>MXEF</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-03-20</expDate>
            <notionalAmt>11594070</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>242225.38</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-01-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Funds</ncom:nameOfApplicant>
      <ncom:signature>Randal E. Rein </ncom:signature>
      <ncom:signerName>Randal E. Rein </ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
