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          <ccc>XXXXXXXX</ccc>
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      <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>Northern Global Real Estate Index Fund</seriesName>
      <seriesId>S000012717</seriesId>
      <seriesLei>549300IBNCW08MG2I792</seriesLei>
      <repPdEnd>2020-03-31</repPdEnd>
      <repPdDate>2019-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cibanco S.A. Institucion de Banca Multiple</name>
        <lei>549300X3ORQ47V30YI07</lei>
        <title>Cibanco S.A. Institucion de Banca Multiple CBFI (PLA ADMINISTRADORA IND) 144A/REG S</title>
        <cusip>P2R51T187</cusip>
        <identifiers>
          <isin value="MXCFTE0B0005"/>
          <ticker value="TERRA 13"/>
        </identifiers>
        <balance>975000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>1598572</valUSD>
        <pctVal>0.0642501095</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>Langham Hosp&amp;Langh Hosp Inv Ltd</name>
        <lei>N/A</lei>
        <title>Langham Hosp&amp;Langh Hosp Inv Ltd HKD0.0005 (UNITS)</title>
        <cusip>Y5213M106</cusip>
        <identifiers>
          <isin value="HK0000150521"/>
          <ticker value="1270"/>
        </identifiers>
        <balance>1012000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>308043.32</valUSD>
        <pctVal>0.0123809356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nomura Real Estate Master Fund, Inc.</name>
        <lei>353800TNNZOQ1CPZE086</lei>
        <title>Nomura Real Estate Master Fund, Inc. REIT</title>
        <cusip>J589D3119</cusip>
        <identifiers>
          <isin value="JP3048110005"/>
          <ticker value="3462"/>
        </identifiers>
        <balance>5010</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>8561812.47</valUSD>
        <pctVal>0.3441179934</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>Jbg Smith Properties</name>
        <lei>549300HHIW6GDQCPEC54</lei>
        <title>Jbg Smith Properties COM</title>
        <cusip>46590V100</cusip>
        <identifiers>
          <isin value="US46590V1008"/>
          <ticker value="JBGS"/>
        </identifiers>
        <balance>155994</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6222600.66</valUSD>
        <pctVal>0.2500999479</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>LAI Sun Devmt</name>
        <lei>254900703QFF6V3H5059</lei>
        <title>LAI Sun Devmt NPV POST CON</title>
        <cusip>Y51270224</cusip>
        <identifiers>
          <isin value="HK0000356821"/>
          <ticker value="488"/>
        </identifiers>
        <balance>221957</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>294464.33</valUSD>
        <pctVal>0.0118351663</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>LOG COMMERCIAL PROPERTIES E PARTICIPACOES SA</name>
        <lei>N/A</lei>
        <title>LOG COMMERCIAL PROPERTIES E PARTICIPACOES SA COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRLOGGACNOR7"/>
          <ticker value="LOGG3"/>
        </identifiers>
        <balance>66300</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>535980.84</valUSD>
        <pctVal>0.0215422438</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>Derwent London Plc</name>
        <lei>213800BXKQ9KZNUR1M61</lei>
        <title>Derwent London Plc ORD GBP0.05</title>
        <cusip>G27300105</cusip>
        <identifiers>
          <isin value="GB0002652740"/>
          <ticker value="DLN"/>
        </identifiers>
        <balance>129992</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>6943126.61</valUSD>
        <pctVal>0.2790594638</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>Shaftesbury Plc</name>
        <lei>213800N7LHKFNTDKAT98</lei>
        <title>Shaftesbury Plc ORD GBP0.25</title>
        <cusip>G80603106</cusip>
        <identifiers>
          <isin value="GB0007990962"/>
          <ticker value="SHB"/>
        </identifiers>
        <balance>188792</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>2375250.79</valUSD>
        <pctVal>0.0954665310</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>Life Storage Inc</name>
        <lei>W9EE01AFDDF9DQCQZC68</lei>
        <title>Life Storage Inc COM</title>
        <cusip>53223X107</cusip>
        <identifiers>
          <isin value="US53223X1072"/>
          <ticker value="LSI"/>
        </identifiers>
        <balance>57149</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6188093.72</valUSD>
        <pctVal>0.2487130384</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>VIVA ENERGY REIT</name>
        <lei>N/A</lei>
        <title>VIVA ENERGY REIT REIT STAPLED UNIT</title>
        <cusip>Q9478H108</cusip>
        <identifiers>
          <isin value="AU000000VVR9"/>
          <ticker value="VVR"/>
        </identifiers>
        <balance>623052</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>1164262.92</valUSD>
        <pctVal>0.0467942765</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>NSI N.V.</name>
        <lei>724500I77C30W2LZZJ03</lei>
        <title>NSI N.V. EUR3.68(POST CONSOLIDATION)</title>
        <cusip>N6S10A115</cusip>
        <identifiers>
          <isin value="NL0012365084"/>
          <ticker value="NSI"/>
        </identifiers>
        <balance>23183</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1129843.65</valUSD>
        <pctVal>0.0454108906</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>Deutsche Bank Mexico SA Institucion de Banca Multiple</name>
        <lei>529900H31AYI6WA1J534</lei>
        <title>Deutsche Bank Mexico SA Institucion de Banca Multiple CBFI (CONCENTRADORA FIBRA HOTELERA MEX)</title>
        <cusip>P3515D148</cusip>
        <identifiers>
          <isin value="MXCFFI0T0005"/>
          <ticker value="FIHO 12"/>
        </identifiers>
        <balance>933869</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>438596.15</valUSD>
        <pctVal>0.0176281398</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>RDI Reit Plc</name>
        <lei>2138006NHZUMMRYQ1745</lei>
        <title>RDI Reit Plc ORD GBP0.40</title>
        <cusip>G7392E103</cusip>
        <identifiers>
          <isin value="IM00BH3JLY32"/>
          <ticker value="RDI"/>
        </identifiers>
        <balance>335518</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>582241.55</valUSD>
        <pctVal>0.0234015630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Terreno Realty Cor</name>
        <lei>N/A</lei>
        <title>Terreno Realty Cor COM</title>
        <cusip>88146M101</cusip>
        <identifiers>
          <isin value="US88146M1018"/>
          <ticker value="TRNO"/>
        </identifiers>
        <balance>80106</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4336938.84</valUSD>
        <pctVal>0.1743110698</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>AvalonBay Communities, Inc.</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities, Inc. COM</title>
        <cusip>053484101</cusip>
        <identifiers>
          <isin value="US0534841012"/>
          <ticker value="AVB"/>
        </identifiers>
        <balance>170843</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35825777.1</valUSD>
        <pctVal>1.4399164396</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>Eastgroup Properties, Inc.</name>
        <lei>31TIGQQZC4P6JMHKSW85</lei>
        <title>Eastgroup Properties, Inc. COM</title>
        <cusip>277276101</cusip>
        <identifiers>
          <isin value="US2772761019"/>
          <ticker value="EGP"/>
        </identifiers>
        <balance>45927</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6093135.09</valUSD>
        <pctVal>0.2448964432</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>Kilroy Realty Corporation</name>
        <lei>549300CXXI18B214UN80</lei>
        <title>Kilroy Realty Corporation COM</title>
        <cusip>49427F108</cusip>
        <identifiers>
          <isin value="US49427F1084"/>
          <ticker value="KRC"/>
        </identifiers>
        <balance>123544</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10365341.6</valUSD>
        <pctVal>0.4166057789</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>Host Hotels &amp; Resorts Inc</name>
        <lei>N6EL63S0K3PB1YFTDI24</lei>
        <title>Host Hotels &amp; Resorts Inc COM</title>
        <cusip>44107P104</cusip>
        <identifiers>
          <isin value="US44107P1049"/>
          <ticker value="HST"/>
        </identifiers>
        <balance>893629</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16576817.95</valUSD>
        <pctVal>0.6662586164</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>Argosy Property Limited</name>
        <lei>N/A</lei>
        <title>Argosy Property Limited NPV</title>
        <cusip>Q05262102</cusip>
        <identifiers>
          <isin value="NZARGE0010S7"/>
          <ticker value="ARG"/>
        </identifiers>
        <balance>1020749</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.4854426"/>
        <valUSD>948502.72</valUSD>
        <pctVal>0.0381224015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wharf Real Estate Investment Co Ltd</name>
        <lei>529900QLPKS8U9QOPB59</lei>
        <title>Wharf Real Estate Investment Co Ltd HKD0.1</title>
        <cusip>G9593A104</cusip>
        <identifiers>
          <isin value="KYG9593A1040"/>
          <ticker value="1997"/>
        </identifiers>
        <balance>1488317</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>9126195.08</valUSD>
        <pctVal>0.3668017665</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>Boardwalk Real Estate Investment Trust</name>
        <lei>549300KXE6YWGWBI0U31</lei>
        <title>Boardwalk Real Estate Investment Trust TR UNIT</title>
        <cusip>096631106</cusip>
        <identifiers>
          <isin value="CA0966311064"/>
          <ticker value="BEI.UN"/>
        </identifiers>
        <balance>27086</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>958037.8</valUSD>
        <pctVal>0.0385056373</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>American Campus Communities, Inc.</name>
        <lei>529900MR3ZXRO3W6UX26</lei>
        <title>American Campus Communities, Inc. COM</title>
        <cusip>024835100</cusip>
        <identifiers>
          <isin value="US0248351001"/>
          <ticker value="ACC"/>
        </identifiers>
        <balance>168161</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7908611.83</valUSD>
        <pctVal>0.3178644292</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>RAS Al Khaimah Pro</name>
        <lei>N/A</lei>
        <title>RAS Al Khaimah Pro AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AER000601016"/>
          <ticker value="RAKPROP"/>
        </identifiers>
        <balance>1168057</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>138367.48</valUSD>
        <pctVal>0.0055612920</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>Cyrusone Inc</name>
        <lei>5493006S177ZK2ZNBU43</lei>
        <title>Cyrusone Inc COM</title>
        <cusip>23283R100</cusip>
        <identifiers>
          <isin value="US23283R1005"/>
          <ticker value="CONE"/>
        </identifiers>
        <balance>138601</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9068663.43</valUSD>
        <pctVal>0.3644894435</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>WHA Corporation Public Company Limited</name>
        <lei>254900E68VLEZZULQP27</lei>
        <title>WHA Corporation Public Company Limited THB0.1(NVDR)</title>
        <cusip>Y95310127</cusip>
        <identifiers>
          <isin value="TH3871010R19"/>
          <ticker value="WHA-R"/>
        </identifiers>
        <balance>10984300</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>1419264.05</valUSD>
        <pctVal>0.0570433303</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>Nippon REIT Investment Corporation</name>
        <lei>3538004O49OJ90PEXX85</lei>
        <title>Nippon REIT Investment Corporation NPV REIT</title>
        <cusip>J5530Q100</cusip>
        <identifiers>
          <isin value="JP3047750009"/>
          <ticker value="3296"/>
        </identifiers>
        <balance>552</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2431093.49</valUSD>
        <pctVal>0.0977109714</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>Equity Lifestyle Properties Inc</name>
        <lei>529900PEQG66LENB6798</lei>
        <title>Equity Lifestyle Properties Inc COM</title>
        <cusip>29472R108</cusip>
        <identifiers>
          <isin value="US29472R1086"/>
          <ticker value="ELS"/>
        </identifiers>
        <balance>211641</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14897409.99</valUSD>
        <pctVal>0.5987595326</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>Capital &amp; Counties</name>
        <lei>549300TTXXZ1SHUI0D54</lei>
        <title>Capital &amp; Counties ORD GBP0.25</title>
        <cusip>G19406100</cusip>
        <identifiers>
          <isin value="GB00B62G9D36"/>
          <ticker value="CAPC"/>
        </identifiers>
        <balance>889704</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>3099208.99</valUSD>
        <pctVal>0.1245639965</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>MIRAI CORPORATION</name>
        <lei>353800HQCYM7P10R9D93</lei>
        <title>MIRAI CORPORATION REIT</title>
        <cusip>J4309J108</cusip>
        <identifiers>
          <isin value="JP3048370005"/>
          <ticker value="3476"/>
        </identifiers>
        <balance>1890</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1062714.79</valUSD>
        <pctVal>0.0427128347</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>Redsun Properties Group Limited</name>
        <lei>549300TYWIIKAOK07L47</lei>
        <title>Redsun Properties Group Limited HKD0.01</title>
        <cusip>G7459A101</cusip>
        <identifiers>
          <isin value="KYG7459A1013"/>
          <ticker value="1996"/>
        </identifiers>
        <balance>788000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>260827.79</valUSD>
        <pctVal>0.0104832401</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>Federal Realty Investment Trust</name>
        <lei>549300LI6XZ51GOCJ427</lei>
        <title>Federal Realty Investment Trust SH BEN INT NEW</title>
        <cusip>313747206</cusip>
        <identifiers>
          <isin value="US3137472060"/>
          <ticker value="FRT"/>
        </identifiers>
        <balance>91678</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11801708.94</valUSD>
        <pctVal>0.4743365279</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>Healthcare Realty Trust Incorporated</name>
        <lei>549300CB86LH2IOKHH22</lei>
        <title>Healthcare Realty Trust Incorporated COM</title>
        <cusip>421946104</cusip>
        <identifiers>
          <isin value="US4219461047"/>
          <ticker value="HR"/>
        </identifiers>
        <balance>158287</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5282037.19</valUSD>
        <pctVal>0.2122966423</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>Aldar Properties</name>
        <lei>N/A</lei>
        <title>Aldar Properties AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AEA002001013"/>
          <ticker value="ALDAR"/>
        </identifiers>
        <balance>4737450</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>2786667.93</valUSD>
        <pctVal>0.1120022869</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>Dios Fastigheter AB</name>
        <lei>549300G3VF7LZQ9IW435</lei>
        <title>Dios Fastigheter AB NPV</title>
        <cusip>W2592B100</cusip>
        <identifiers>
          <isin value="SE0001634262"/>
          <ticker value="DIOS"/>
        </identifiers>
        <balance>103338</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>947034.57</valUSD>
        <pctVal>0.0380633934</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>Highwoods Properties, Inc.</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
        <title>Highwoods Properties, Inc. COM</title>
        <cusip>431284108</cusip>
        <identifiers>
          <isin value="US4312841087"/>
          <ticker value="HIW"/>
        </identifiers>
        <balance>127083</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6215629.53</valUSD>
        <pctVal>0.2498197630</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>Getty Realty Corp</name>
        <lei>N/A</lei>
        <title>Getty Realty Corp COM</title>
        <cusip>374297109</cusip>
        <identifiers>
          <isin value="US3742971092"/>
          <ticker value="GTY"/>
        </identifiers>
        <balance>43198</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1419918.26</valUSD>
        <pctVal>0.0570696245</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>Reit 1 Ltd</name>
        <lei>N/A</lei>
        <title>Reit 1 Ltd ILS1</title>
        <cusip>M8209Q100</cusip>
        <identifiers>
          <isin value="IL0010989205"/>
          <ticker value="RIT1"/>
        </identifiers>
        <balance>218714</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>1307920.1</valUSD>
        <pctVal>0.0525681731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SC Asset Corporation Public Company Limited</name>
        <lei>N/A</lei>
        <title>SC Asset Corporation Public Company Limited THB1 (ALIEN MKT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0747A10Z19"/>
          <ticker value="SC-F"/>
        </identifiers>
        <balance>747984</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>56435.13</valUSD>
        <pctVal>0.0022682515</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>Sekisui House Reit, Inc.</name>
        <lei>N/A</lei>
        <title>Sekisui House Reit, Inc. REIT</title>
        <cusip>J91258103</cusip>
        <identifiers>
          <isin value="JP3047820000"/>
          <ticker value="3309"/>
        </identifiers>
        <balance>4993</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4200172.88</valUSD>
        <pctVal>0.1688141464</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>Keppel Dc Reit</name>
        <lei>N/A</lei>
        <title>Keppel Dc Reit NPV</title>
        <cusip>Y47230100</cusip>
        <identifiers>
          <isin value="SG1AF6000009"/>
          <ticker value="AJBU"/>
        </identifiers>
        <balance>1376334</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>2128727.74</valUSD>
        <pctVal>0.0855582298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Origin Property Public Company Limited</name>
        <lei>N/A</lei>
        <title>Origin Property Public Company Limited THB0.5 (NVDR)</title>
        <cusip>Y6473Q126</cusip>
        <identifiers>
          <isin value="TH6789010R10"/>
          <ticker value="ORI-R"/>
        </identifiers>
        <balance>870000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>202522.15</valUSD>
        <pctVal>0.0081398087</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>Yincheng International Holding Co Ltd</name>
        <lei>N/A</lei>
        <title>Yincheng International Holding Co Ltd HKD0.1</title>
        <cusip>G9841A104</cusip>
        <identifiers>
          <isin value="KYG9841A1040"/>
          <ticker value="1902"/>
        </identifiers>
        <balance>526000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>157293.96</valUSD>
        <pctVal>0.0063219887</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>Saul Centers, Inc.</name>
        <lei>N/A</lei>
        <title>Saul Centers, Inc. COM</title>
        <cusip>804395101</cusip>
        <identifiers>
          <isin value="US8043951016"/>
          <ticker value="BFS"/>
        </identifiers>
        <balance>16423</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>866805.94</valUSD>
        <pctVal>0.0348388290</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>Pavilion Real Esta</name>
        <lei>N/A</lei>
        <title>Pavilion Real Esta UNITS</title>
        <cusip>Y6754A105</cusip>
        <identifiers>
          <isin value="MYL5212TO004"/>
          <ticker value="PAVREIT"/>
        </identifiers>
        <balance>732600</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>312188.81</valUSD>
        <pctVal>0.0125475520</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>Amot Investments Limited</name>
        <lei>N/A</lei>
        <title>Amot Investments Limited ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010972789"/>
          <ticker value="AMOT"/>
        </identifiers>
        <balance>206742</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>1501631.01</valUSD>
        <pctVal>0.0603538388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China South City Holdings Ltd.</name>
        <lei>254900BV844D9H1E0W44</lei>
        <title>China South City Holdings Ltd. NPV</title>
        <cusip>Y1515Q101</cusip>
        <identifiers>
          <isin value="HK0000056264"/>
          <ticker value="1668"/>
        </identifiers>
        <balance>5368000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>682452.59</valUSD>
        <pctVal>0.0274292642</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>Central Pattana Public Company Limited</name>
        <lei>N/A</lei>
        <title>Central Pattana Public Company Limited THB0.5(ALIEN MKT)</title>
        <cusip>Y1242U276</cusip>
        <identifiers>
          <isin value="TH0481B10Z18"/>
          <ticker value="CPN-F"/>
        </identifiers>
        <balance>811626</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>1686724.32</valUSD>
        <pctVal>0.0677931443</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>NEW SENIOR INVESTMENT GROUP INC</name>
        <lei>549300H8A719CGNNEW69</lei>
        <title>NEW SENIOR INVESTMENT GROUP INC COM</title>
        <cusip>648691103</cusip>
        <identifiers>
          <isin value="US6486911034"/>
          <ticker value="SNR"/>
        </identifiers>
        <balance>102638</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>785180.7</valUSD>
        <pctVal>0.0315581319</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>SA Corp Real Estat</name>
        <lei>N/A</lei>
        <title>SA Corp Real Estat NPV</title>
        <cusip>S7220D118</cusip>
        <identifiers>
          <isin value="ZAE000203238"/>
          <ticker value="SAC"/>
        </identifiers>
        <balance>2449231</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>535350.34</valUSD>
        <pctVal>0.0215169026</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>Ronshine China Holdings Limited</name>
        <lei>549300GNBBT32SFSEC47</lei>
        <title>Ronshine China Holdings Limited HKD0.00001</title>
        <cusip>G76368102</cusip>
        <identifiers>
          <isin value="KYG763681023"/>
          <ticker value="3301"/>
        </identifiers>
        <balance>750500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1040957.01</valUSD>
        <pctVal>0.0418383419</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>MITSUBISHI ESTATE LOGISTICS REIT</name>
        <lei>N/A</lei>
        <title>MITSUBISHI ESTATE LOGISTICS REIT REIT</title>
        <cusip>J4S41D104</cusip>
        <identifiers>
          <isin value="JP3048480002"/>
          <ticker value="3481"/>
        </identifiers>
        <balance>337</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1105669.64</valUSD>
        <pctVal>0.0444392842</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>Hamborner Reit Ag</name>
        <lei>529900EJTD8IR1GN0P96</lei>
        <title>Hamborner Reit Ag NPV</title>
        <cusip>D29315104</cusip>
        <identifiers>
          <isin value="DE0006013006"/>
          <ticker value="HAB"/>
        </identifiers>
        <balance>75667</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>829153.73</valUSD>
        <pctVal>0.0333255042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Growthpoint Properties Ltd</name>
        <lei>37890019DD1E46632291</lei>
        <title>Growthpoint Properties Ltd NPV</title>
        <cusip>S3373C239</cusip>
        <identifiers>
          <isin value="ZAE000179420"/>
          <ticker value="GRT"/>
        </identifiers>
        <balance>3646988</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>5771348.6</valUSD>
        <pctVal>0.2319631394</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>Diamondrock Hospitality Company</name>
        <lei>529900KKD4BPVBUAQ734</lei>
        <title>Diamondrock Hospitality Company COM</title>
        <cusip>252784301</cusip>
        <identifiers>
          <isin value="US2527843013"/>
          <ticker value="DRH"/>
        </identifiers>
        <balance>246571</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2732006.68</valUSD>
        <pctVal>0.1098053315</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>Allied Properties REIT</name>
        <lei>549300AMZMPKVHA0MY77</lei>
        <title>Allied Properties REIT UNIT</title>
        <cusip>019456102</cusip>
        <identifiers>
          <isin value="CA0194561027"/>
          <ticker value="AP.UN"/>
        </identifiers>
        <balance>70342</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>2820613.72</valUSD>
        <pctVal>0.1133666425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Street Pr</name>
        <lei>549300STLK2T6QY5WO82</lei>
        <title>Franklin Street Pr COM</title>
        <cusip>35471R106</cusip>
        <identifiers>
          <isin value="US35471R1068"/>
          <ticker value="FSP"/>
        </identifiers>
        <balance>127861</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1094490.16</valUSD>
        <pctVal>0.0439899564</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>Kungsleden AB (publ)</name>
        <lei>5493005OXRTBK0WSJN46</lei>
        <title>Kungsleden AB (publ) NPV</title>
        <cusip>W53033101</cusip>
        <identifiers>
          <isin value="SE0000549412"/>
          <ticker value="KLED"/>
        </identifiers>
        <balance>228023</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>2396014.01</valUSD>
        <pctVal>0.0963010503</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>Fastighets AB Balder (publ)</name>
        <lei>549300GHKJCEZOAEUU82</lei>
        <title>Fastighets AB Balder (publ) SER'B'NPV</title>
        <cusip>W30316116</cusip>
        <identifiers>
          <isin value="SE0000455057"/>
          <ticker value="BALD B"/>
        </identifiers>
        <balance>124021</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>5738704.89</valUSD>
        <pctVal>0.2306511172</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>Castellum Ab</name>
        <lei>549300GU5OHTR1T5IY68</lei>
        <title>Castellum Ab NPV</title>
        <cusip>W2084X107</cusip>
        <identifiers>
          <isin value="SE0000379190"/>
          <ticker value="CAST"/>
        </identifiers>
        <balance>317932</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>7470562.05</valUSD>
        <pctVal>0.3002582492</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>UMH Properties Inc</name>
        <lei>N/A</lei>
        <title>UMH Properties Inc COM</title>
        <cusip>903002103</cusip>
        <identifiers>
          <isin value="US9030021037"/>
          <ticker value="UMH"/>
        </identifiers>
        <balance>45357</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>713465.61</valUSD>
        <pctVal>0.0286757453</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>UEM Sunrise Berhad</name>
        <lei>N/A</lei>
        <title>UEM Sunrise Berhad MYR0.5</title>
        <cusip>Y9033U108</cusip>
        <identifiers>
          <isin value="MYL5148OO001"/>
          <ticker value="UEMS"/>
        </identifiers>
        <balance>1638000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>282395.77</valUSD>
        <pctVal>0.0113501044</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>Fantasia Holdings Group Ltd</name>
        <lei>5493005JQNLB3I01JW62</lei>
        <title>Fantasia Holdings Group Ltd HKD0.10</title>
        <cusip>G3311L104</cusip>
        <identifiers>
          <isin value="KYG3311L1041"/>
          <ticker value="1777"/>
        </identifiers>
        <balance>1623000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>302759.26</valUSD>
        <pctVal>0.0121685577</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>Irish Residential Properties REIT PLC</name>
        <lei>635400EOPACLULRENY18</lei>
        <title>Irish Residential Properties REIT PLC EUR0.10</title>
        <cusip>G49456109</cusip>
        <identifiers>
          <isin value="IE00BJ34P519"/>
          <ticker value="IRES"/>
        </identifiers>
        <balance>541760</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>965022.87</valUSD>
        <pctVal>0.0387863825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Park Hotels &amp; Resorts Inc.</name>
        <lei>5493005UZ5TQN0H6HS73</lei>
        <title>Park Hotels &amp; Resorts Inc. COM</title>
        <cusip>700517105</cusip>
        <identifiers>
          <isin value="US7005171050"/>
          <ticker value="PK"/>
        </identifiers>
        <balance>293912</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7603503.44</valUSD>
        <pctVal>0.3056014548</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>Immobiliare Grande Distribuzione S.p.a.</name>
        <lei>815600CF8C0389D0E272</lei>
        <title>Immobiliare Grande Distribuzione S.p.a. NPV</title>
        <cusip>T53246103</cusip>
        <identifiers>
          <isin value="IT0005322612"/>
          <ticker value="IGD"/>
        </identifiers>
        <balance>65459</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>455453.96</valUSD>
        <pctVal>0.0183056921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eagle Hospitality Trust</name>
        <lei>N/A</lei>
        <title>Eagle Hospitality Trust UNITS</title>
        <cusip>Y2188L106</cusip>
        <identifiers>
          <isin value="SGXC28500103"/>
          <ticker value="LIW"/>
        </identifiers>
        <balance>459100</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>250108.66</valUSD>
        <pctVal>0.0100524148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mobimo Holding AG</name>
        <lei>50670018HN8O1GD3O385</lei>
        <title>Mobimo Holding AG CHF23.40 (REGD)</title>
        <cusip>H55058103</cusip>
        <identifiers>
          <isin value="CH0011108872"/>
          <ticker value="MOBN"/>
        </identifiers>
        <balance>8163</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".9678"/>
        <valUSD>2433015.34</valUSD>
        <pctVal>0.0977882148</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>Investec Prop Fund</name>
        <lei>254900J1KNM6W078S240</lei>
        <title>Investec Prop Fund NPV</title>
        <cusip>S3965J121</cusip>
        <identifiers>
          <isin value="ZAE000180915"/>
          <ticker value="IPF"/>
        </identifiers>
        <balance>609105</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>640477.55</valUSD>
        <pctVal>0.0257421954</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>Afi Properties Ltd</name>
        <lei>N/A</lei>
        <title>Afi Properties Ltd ILS1</title>
        <cusip>M0203G105</cusip>
        <identifiers>
          <isin value="IL0010913544"/>
          <ticker value="AFPR"/>
        </identifiers>
        <balance>28590</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>1188233.15</valUSD>
        <pctVal>0.0477576925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kaisa Group Holdings Ltd.</name>
        <lei>254900N8L3L7NRJT0120</lei>
        <title>Kaisa Group Holdings Ltd. HKD0.10</title>
        <cusip>G52132100</cusip>
        <identifiers>
          <isin value="KYG521321003"/>
          <ticker value="1638"/>
        </identifiers>
        <balance>3010000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1440680.15</valUSD>
        <pctVal>0.0579040903</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>Hudson Pacific Properties Inc</name>
        <lei>N/A</lei>
        <title>Hudson Pacific Properties Inc COM</title>
        <cusip>444097109</cusip>
        <identifiers>
          <isin value="US4440971095"/>
          <ticker value="HPP"/>
        </identifiers>
        <balance>188923</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7112950.95</valUSD>
        <pctVal>0.2858850759</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>Activia Properties Inc</name>
        <lei>353800RPGYN3ML8CXV54</lei>
        <title>Activia Properties Inc REIT</title>
        <cusip>J00089102</cusip>
        <identifiers>
          <isin value="JP3047490002"/>
          <ticker value="3279"/>
        </identifiers>
        <balance>851</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4267601.9</valUSD>
        <pctVal>0.1715242664</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>KENEDIX RETAIL REIT CORP</name>
        <lei>N/A</lei>
        <title>KENEDIX RETAIL REIT CORP REIT</title>
        <cusip>J3243R101</cusip>
        <identifiers>
          <isin value="JP3047900000"/>
          <ticker value="3453"/>
        </identifiers>
        <balance>594</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1511408.7</valUSD>
        <pctVal>0.0607468256</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>Watkin Jones Plc</name>
        <lei>2138009X19O21NU5SG79</lei>
        <title>Watkin Jones Plc ORD GBP0.01</title>
        <cusip>G94793109</cusip>
        <identifiers>
          <isin value="GB00BD6RF223"/>
          <ticker value="WJG"/>
        </identifiers>
        <balance>185421</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>598561.1</valUSD>
        <pctVal>0.0240574814</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>Wihlborgs Fastigheter AB</name>
        <lei>549300RC1YDJPITF8X06</lei>
        <title>Wihlborgs Fastigheter AB NPV</title>
        <cusip>W9899F155</cusip>
        <identifiers>
          <isin value="SE0011205194"/>
          <ticker value="WIHL"/>
        </identifiers>
        <balance>169778</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>3127216.06</valUSD>
        <pctVal>0.1256896620</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>AMERICAN FINANCE TRUST INC</name>
        <lei>549300GN4H0K3IUS8983</lei>
        <title>AMERICAN FINANCE TRUST INC COM CLASS A</title>
        <cusip>02607T109</cusip>
        <identifiers>
          <isin value="US02607T1097"/>
          <ticker value="AFIN"/>
        </identifiers>
        <balance>131074</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1738041.24</valUSD>
        <pctVal>0.0698556837</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 Nacional de Mexico SA</name>
        <lei>2SFFM4FUIE05S37WFU55</lei>
        <title>Banco Nacional de Mexico SA CBFI (CONCEN FIBRA DANHOS) NPV</title>
        <cusip>P2825H138</cusip>
        <identifiers>
          <isin value="MXCFDA020005"/>
          <ticker value="DANHOS 13"/>
        </identifiers>
        <balance>334453</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>507671.62</valUSD>
        <pctVal>0.0204044342</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 SCE Group Holdings Limited</name>
        <lei>549300Q8UEI2ERAP6P49</lei>
        <title>China SCE Group Holdings Limited HKD0.1</title>
        <cusip>G21190106</cusip>
        <identifiers>
          <isin value="KYG211901064"/>
          <ticker value="1966"/>
        </identifiers>
        <balance>2216000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1293638.49</valUSD>
        <pctVal>0.0519941640</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>CapitaLand Mall Trust Management Limited</name>
        <lei>N/A</lei>
        <title>CapitaLand Mall Trust Management Limited NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y1100L160</cusip>
        <identifiers>
          <isin value="SG1M51904654"/>
          <ticker value="C38U"/>
        </identifiers>
        <balance>3169515</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>5798411.91</valUSD>
        <pctVal>0.2330508731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aeon Mall Co Ltd</name>
        <lei>N/A</lei>
        <title>Aeon Mall Co Ltd NPV</title>
        <cusip>J10005106</cusip>
        <identifiers>
          <isin value="JP3131430005"/>
          <ticker value="8905"/>
        </identifiers>
        <balance>126566</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2243712.96</valUSD>
        <pctVal>0.0901797376</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>Investors Real Estate Trust</name>
        <lei>5493002LG2SH9EEHT720</lei>
        <title>Investors Real Estate Trust SH BEN INT</title>
        <cusip>461730509</cusip>
        <identifiers>
          <isin value="US4617305093"/>
          <ticker value="IRET"/>
        </identifiers>
        <balance>13837</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1003182.5</valUSD>
        <pctVal>0.0403201016</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>Orix Jreit Inc</name>
        <lei>N/A</lei>
        <title>Orix Jreit Inc REIT</title>
        <cusip>J8996L102</cusip>
        <identifiers>
          <isin value="JP3040880001"/>
          <ticker value="8954"/>
        </identifiers>
        <balance>3209</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>6958104.76</valUSD>
        <pctVal>0.2796614685</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>Beijing Capital Land Limited</name>
        <lei>5299009MHF10PSNVFD17</lei>
        <title>Beijing Capital Land Limited 'H'SHS CNY1</title>
        <cusip>Y0771C103</cusip>
        <identifiers>
          <isin value="CNE100000239"/>
          <ticker value="2868"/>
        </identifiers>
        <balance>1084000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>304751.17</valUSD>
        <pctVal>0.0122486169</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>Supalai Public Company Limited</name>
        <lei>N/A</lei>
        <title>Supalai Public Company Limited THB1(ALIEN MKT)</title>
        <cusip>Y8309K190</cusip>
        <identifiers>
          <isin value="TH0371010Z13"/>
          <ticker value="SPALI-F"/>
        </identifiers>
        <balance>280445</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>167590.55</valUSD>
        <pctVal>0.0067358312</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>Ichigo Inc</name>
        <lei>N/A</lei>
        <title>Ichigo Inc NPV</title>
        <cusip>J2382Y109</cusip>
        <identifiers>
          <isin value="JP3120010008"/>
          <ticker value="2337"/>
        </identifiers>
        <balance>311400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1310866.72</valUSD>
        <pctVal>0.0526866043</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>Dongwon Devmt</name>
        <lei>N/A</lei>
        <title>Dongwon Devmt KRW500</title>
        <cusip>Y2096U107</cusip>
        <identifiers>
          <isin value="KR7013120001"/>
          <ticker value="A013120"/>
        </identifiers>
        <balance>44454</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>157046.15</valUSD>
        <pctVal>0.0063120287</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>Japan Retail Fund Investment Corporation</name>
        <lei>353800QDHNIP60E1LQ93</lei>
        <title>Japan Retail Fund Investment Corporation REIT</title>
        <cusip>J27544105</cusip>
        <identifiers>
          <isin value="JP3039710003"/>
          <ticker value="8953"/>
        </identifiers>
        <balance>3208</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>6896984.68</valUSD>
        <pctVal>0.2772049186</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>Shenzhen Investment Limited</name>
        <lei>529900QMH55P3EJRQC98</lei>
        <title>Shenzhen Investment Limited NPV</title>
        <cusip>Y7743P120</cusip>
        <identifiers>
          <isin value="HK0604011236"/>
          <ticker value="604"/>
        </identifiers>
        <balance>3757191</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1505169.32</valUSD>
        <pctVal>0.0604960513</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>Land and Houses Public Company Limited</name>
        <lei>529900O7AEACUWP7KS87</lei>
        <title>Land and Houses Public Company Limited NON VOTING DEP RECEIPT REP 1 ORD THB1</title>
        <cusip>Y5172C164</cusip>
        <identifiers>
          <isin value="TH0143010R16"/>
          <ticker value="LH-R"/>
        </identifiers>
        <balance>10314400</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>3370125.45</valUSD>
        <pctVal>0.1354527224</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>Japan Prime Realty Investment Corporation</name>
        <lei>353800NJOQJAY1ODEX72</lei>
        <title>Japan Prime Realty Investment Corporation REIT</title>
        <cusip>J2741H102</cusip>
        <identifiers>
          <isin value="JP3040890000"/>
          <ticker value="8955"/>
        </identifiers>
        <balance>962</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4225104.74</valUSD>
        <pctVal>0.1698162124</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>Keppel REIT MTN Pte. Ltd.</name>
        <lei>549300ZD5HZLQCF55J25</lei>
        <title>Keppel REIT MTN Pte. Ltd. NPV (REIT)</title>
        <cusip>Y4740G104</cusip>
        <identifiers>
          <isin value="SG1T22929874"/>
          <ticker value="K71U"/>
        </identifiers>
        <balance>2303720</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>2123500.12</valUSD>
        <pctVal>0.0853481203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Megaworld Corporation</name>
        <lei>254900P57OOZ5AY5C521</lei>
        <title>Megaworld Corporation PHP1</title>
        <cusip>Y59481112</cusip>
        <identifiers>
          <isin value="PHY594811127"/>
          <ticker value="MEG"/>
        </identifiers>
        <balance>13467001</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>1059971.89</valUSD>
        <pctVal>0.0426025916</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>Mori Trust Sogo Reit Inc</name>
        <lei>N/A</lei>
        <title>Mori Trust Sogo Reit Inc REIT</title>
        <cusip>J4664Q101</cusip>
        <identifiers>
          <isin value="JP3046170001"/>
          <ticker value="8961"/>
        </identifiers>
        <balance>1216</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2183317.15</valUSD>
        <pctVal>0.0877522977</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>Global one Real Estate Investment</name>
        <lei>N/A</lei>
        <title>Global one Real Estate Investment REIT</title>
        <cusip>J1727U103</cusip>
        <identifiers>
          <isin value="JP3044520009"/>
          <ticker value="8958"/>
        </identifiers>
        <balance>1185</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1535657.98</valUSD>
        <pctVal>0.0617214573</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>United Urban Investment Corp</name>
        <lei>353800GYZWBD7BDCN841</lei>
        <title>United Urban Investment Corp REIT</title>
        <cusip>J9427E105</cusip>
        <identifiers>
          <isin value="JP3045540006"/>
          <ticker value="8960"/>
        </identifiers>
        <balance>3626</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>6803986.52</valUSD>
        <pctVal>0.2734671189</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>Frontier Real Estate Investment Corporation</name>
        <lei>N/A</lei>
        <title>Frontier Real Estate Investment Corporation REIT</title>
        <cusip>J1516D106</cusip>
        <identifiers>
          <isin value="JP3046200006"/>
          <ticker value="8964"/>
        </identifiers>
        <balance>548</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2304193.36</valUSD>
        <pctVal>0.0926105773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Logistics Fund Inc.</name>
        <lei>3538004KZWISCQO70151</lei>
        <title>Japan Logistics Fund Inc. REIT</title>
        <cusip>J2785A104</cusip>
        <identifiers>
          <isin value="JP3046230003"/>
          <ticker value="8967"/>
        </identifiers>
        <balance>1055</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2691114.64</valUSD>
        <pctVal>0.1081617909</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>Starhill Global Real Estate Investment Trust</name>
        <lei>549300GCJNC7HDN3YK51</lei>
        <title>Starhill Global Real Estate Investment Trust NPV(REAL ESTATE INVESTMENT TRUSTS UNITS)</title>
        <cusip>Y7545N109</cusip>
        <identifiers>
          <isin value="SG1S18926810"/>
          <ticker value="P40U"/>
        </identifiers>
        <balance>1687200</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>909475.59</valUSD>
        <pctVal>0.0365538157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Rental Housing Investments Inc</name>
        <lei>N/A</lei>
        <title>Japan Rental Housing Investments Inc REIT</title>
        <cusip>J2753A102</cusip>
        <identifiers>
          <isin value="JP3046410001"/>
          <ticker value="8986"/>
        </identifiers>
        <balance>2015</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1971267.53</valUSD>
        <pctVal>0.0792295591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Excellent Inc</name>
        <lei>N/A</lei>
        <title>Japan Excellent Inc REIT</title>
        <cusip>J2739K109</cusip>
        <identifiers>
          <isin value="JP3046420000"/>
          <ticker value="8987"/>
        </identifiers>
        <balance>1443</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2336901.96</valUSD>
        <pctVal>0.0939252076</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>Frasers Centrepoint Trust</name>
        <lei>5493002RGQ266FKERZ83</lei>
        <title>Frasers Centrepoint Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y2642S101</cusip>
        <identifiers>
          <isin value="SG1T60930966"/>
          <ticker value="J69U"/>
        </identifiers>
        <balance>894312</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1868468.43</valUSD>
        <pctVal>0.0750978381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Radium Life Tech Co</name>
        <lei>N/A</lei>
        <title>Radium Life Tech Co TWD10</title>
        <cusip>Y7342U108</cusip>
        <identifiers>
          <isin value="TW0002547007"/>
          <ticker value="2547"/>
        </identifiers>
        <balance>750420</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>291691.22</valUSD>
        <pctVal>0.0117237089</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>Daiwa Office Investment Corporation</name>
        <lei>N/A</lei>
        <title>Daiwa Office Investment Corporation REIT</title>
        <cusip>J1250G109</cusip>
        <identifiers>
          <isin value="JP3046310003"/>
          <ticker value="8976"/>
        </identifiers>
        <balance>392</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>3011254.96</valUSD>
        <pctVal>0.1210289315</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>YTL Hospitality RE</name>
        <lei>N/A</lei>
        <title>YTL Hospitality RE NPV</title>
        <cusip>Y9865X105</cusip>
        <identifiers>
          <isin value="MYL5109TO002"/>
          <ticker value="YTLREIT"/>
        </identifiers>
        <balance>747300</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>248601.7</valUSD>
        <pctVal>0.0099918468</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>Prosperity Real Es</name>
        <lei>N/A</lei>
        <title>Prosperity Real Es NPV (REIT)</title>
        <cusip>Y7084Q109</cusip>
        <identifiers>
          <isin value="HK0808032913"/>
          <ticker value="808"/>
        </identifiers>
        <balance>1489000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>582332.28</valUSD>
        <pctVal>0.0234052096</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>Amata Corp</name>
        <lei>N/A</lei>
        <title>Amata Corp THB1(NVDR)</title>
        <cusip>Y0099Y126</cusip>
        <identifiers>
          <isin value="TH0617010R19"/>
          <ticker value="AMATA-R"/>
        </identifiers>
        <balance>947800</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>633279.95</valUSD>
        <pctVal>0.0254529081</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>Japan Hotel REIT Investment Corporation</name>
        <lei>353800L8KG849FP1JI68</lei>
        <title>Japan Hotel REIT Investment Corporation REIT</title>
        <cusip>J2761Q107</cusip>
        <identifiers>
          <isin value="JP3046400002"/>
          <ticker value="8985"/>
        </identifiers>
        <balance>5468</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4085913.95</valUSD>
        <pctVal>0.1642218297</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>Nomura Real Estate Holdings Inc</name>
        <lei>N/A</lei>
        <title>Nomura Real Estate Holdings Inc NPV</title>
        <cusip>J5893B104</cusip>
        <identifiers>
          <isin value="JP3762900003"/>
          <ticker value="3231"/>
        </identifiers>
        <balance>154000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>3705888.88</valUSD>
        <pctVal>0.1489477899</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>Shui On Land Limited</name>
        <lei>5299008W71Y7DHTU7753</lei>
        <title>Shui On Land Limited USD0.0025</title>
        <cusip>G81151113</cusip>
        <identifiers>
          <isin value="KYG811511131"/>
          <ticker value="272"/>
        </identifiers>
        <balance>4552277</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>999247.1</valUSD>
        <pctVal>0.0401619293</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>Shining Building Business Co. Ltd</name>
        <lei>N/A</lei>
        <title>Shining Building Business Co. Ltd TWD10</title>
        <cusip>Y77507104</cusip>
        <identifiers>
          <isin value="TW0005531008"/>
          <ticker value="5531"/>
        </identifiers>
        <balance>414197</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>151336.18</valUSD>
        <pctVal>0.0060825325</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>Kerry Properties Ltd</name>
        <lei>5299006T5ULIIRZ7LK49</lei>
        <title>Kerry Properties Ltd ORD HKD1</title>
        <cusip>G52440107</cusip>
        <identifiers>
          <isin value="BMG524401079"/>
          <ticker value="683"/>
        </identifiers>
        <balance>809099</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2578417.68</valUSD>
        <pctVal>0.1036322533</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>Kindom Development Company Limited</name>
        <lei>N/A</lei>
        <title>Kindom Development Company Limited TWD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002520004"/>
          <ticker value="2520"/>
        </identifiers>
        <balance>356000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>379111.77</valUSD>
        <pctVal>0.0152373323</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>Tosei Corporation</name>
        <lei>N/A</lei>
        <title>Tosei Corporation NPV</title>
        <cusip>J8963D109</cusip>
        <identifiers>
          <isin value="JP3595070008"/>
          <ticker value="8923"/>
        </identifiers>
        <balance>37000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>504704.43</valUSD>
        <pctVal>0.0202851763</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>CDL Hospitality Tr</name>
        <lei>N/A</lei>
        <title>CDL Hospitality Tr NPV STAPLED UNITS</title>
        <cusip>Y1233P104</cusip>
        <identifiers>
          <isin value="SG1T66931158"/>
          <ticker value="J85"/>
        </identifiers>
        <balance>977092</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1177133.01</valUSD>
        <pctVal>0.0473115536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BR Malls Participacoes S.A.</name>
        <lei>N/A</lei>
        <title>BR Malls Participacoes S.A. COM NPV</title>
        <cusip>P1908S102</cusip>
        <identifiers>
          <isin value="BRBRMLACNOR9"/>
          <ticker value="BRML3"/>
        </identifiers>
        <balance>964313</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>4335131.64</valUSD>
        <pctVal>0.1742384345</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>Country Garden Holdings Company Limited</name>
        <lei>549300MGHLPT1EFHGF84</lei>
        <title>Country Garden Holdings Company Limited HKD0.10</title>
        <cusip>G24524103</cusip>
        <identifiers>
          <isin value="KYG245241032"/>
          <ticker value="2007"/>
        </identifiers>
        <balance>9287625</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>14924134.92</valUSD>
        <pctVal>0.5998336661</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>ATRIUM LJUNGBERG AB</name>
        <lei>5493001NNP6HM67OVU09</lei>
        <title>ATRIUM LJUNGBERG AB SER'B'NPV</title>
        <cusip>W53402108</cusip>
        <identifiers>
          <isin value="SE0000191827"/>
          <ticker value="ATRLJ B"/>
        </identifiers>
        <balance>55738</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>1342122.41</valUSD>
        <pctVal>0.0539428389</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>Daibiru Corp</name>
        <lei>N/A</lei>
        <title>Daibiru Corp NPV</title>
        <cusip>J08463101</cusip>
        <identifiers>
          <isin value="JP3497200000"/>
          <ticker value="8806"/>
        </identifiers>
        <balance>54100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>649242.59</valUSD>
        <pctVal>0.0260944815</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>Growthpoint Proper</name>
        <lei>N/A</lei>
        <title>Growthpoint Proper A-REIT</title>
        <cusip>Q4359J133</cusip>
        <identifiers>
          <isin value="AU000000GOZ8"/>
          <ticker value="GOZ"/>
        </identifiers>
        <balance>336840</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>982281</valUSD>
        <pctVal>0.0394800246</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>Hulic Co Ltd</name>
        <lei>N/A</lei>
        <title>Hulic Co Ltd NPV</title>
        <cusip>J23594112</cusip>
        <identifiers>
          <isin value="JP3360800001"/>
          <ticker value="3003"/>
        </identifiers>
        <balance>372540</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4484363.4</valUSD>
        <pctVal>0.1802363857</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>Esr-Reit</name>
        <lei>5493008PFX3JN1RMMD48</lei>
        <title>Esr-Reit NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y2301D106</cusip>
        <identifiers>
          <isin value="SG1T70931228"/>
          <ticker value="J91U"/>
        </identifiers>
        <balance>2474530</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>975068.43</valUSD>
        <pctVal>0.0391901356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cathay Real Estate</name>
        <lei>N/A</lei>
        <title>Cathay Real Estate TWD10</title>
        <cusip>Y11579102</cusip>
        <identifiers>
          <isin value="TW0002501004"/>
          <ticker value="2501"/>
        </identifiers>
        <balance>615000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>429885.32</valUSD>
        <pctVal>0.0172780325</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>Mori Hills REIT Investment Corp</name>
        <lei>N/A</lei>
        <title>Mori Hills REIT Investment Corp REIT</title>
        <cusip>J4665S106</cusip>
        <identifiers>
          <isin value="JP3046470005"/>
          <ticker value="3234"/>
        </identifiers>
        <balance>2068</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>3435062.1</valUSD>
        <pctVal>0.1380626685</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>First Real Estate Investment Trust</name>
        <lei>549300SI6X0UQQINB286</lei>
        <title>First Real Estate Investment Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y2560E100</cusip>
        <identifiers>
          <isin value="SG1U27933225"/>
          <ticker value="AW9U"/>
        </identifiers>
        <balance>669351</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>495227.47</valUSD>
        <pctVal>0.0199042766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MULTIPLAN EMPREENDIMENTOS IMOB SA</name>
        <lei>N/A</lei>
        <title>MULTIPLAN EMPREENDIMENTOS IMOB SA COM NPV</title>
        <cusip>P69913104</cusip>
        <identifiers>
          <isin value="BRMULTACNOR5"/>
          <ticker value="MULT3"/>
        </identifiers>
        <balance>347672</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>2866732.87</valUSD>
        <pctVal>0.1152202722</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>Stockland Corporation Limited</name>
        <lei>549300Y8E5TMSOLM7P64</lei>
        <title>Stockland Corporation Limited NPV (STAPLED)</title>
        <cusip>Q8773B105</cusip>
        <identifiers>
          <isin value="AU000000SGP0"/>
          <ticker value="SGP"/>
        </identifiers>
        <balance>2920115</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>9485267.81</valUSD>
        <pctVal>0.3812336859</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>Tokyo Tatemono Co Ltd</name>
        <lei>529900RQA4JTW1869J86</lei>
        <title>Tokyo Tatemono Co Ltd NPV</title>
        <cusip>J88333133</cusip>
        <identifiers>
          <isin value="JP3582600007"/>
          <ticker value="8804"/>
        </identifiers>
        <balance>239800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>3741217.16</valUSD>
        <pctVal>0.1503677109</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>HOSHINO RESORTS REIT INC</name>
        <lei>N/A</lei>
        <title>HOSHINO RESORTS REIT INC REIT</title>
        <cusip>J2245U104</cusip>
        <identifiers>
          <isin value="JP3047610005"/>
          <ticker value="3287"/>
        </identifiers>
        <balance>273</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1407531.82</valUSD>
        <pctVal>0.0565717863</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>Invesco Office J-REIT Inc</name>
        <lei>353800L26AROSFHOI265</lei>
        <title>Invesco Office J-REIT Inc REIT</title>
        <cusip>J2502Y104</cusip>
        <identifiers>
          <isin value="JP3047760008"/>
          <ticker value="3298"/>
        </identifiers>
        <balance>10936</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2267362.3</valUSD>
        <pctVal>0.0911302563</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>Shanghai Zhangjiang High Tech Park Development Co. Ltd.</name>
        <lei>N/A</lei>
        <title>Shanghai Zhangjiang High Tech Park Development Co. Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000JX9"/>
          <ticker value="ZHANGJ"/>
        </identifiers>
        <balance>109300</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>240330.35</valUSD>
        <pctVal>0.0096594031</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>Assura Plc</name>
        <lei>21380026T19N2Y52XF72</lei>
        <title>Assura Plc ORD GBP0.10</title>
        <cusip>G2386T109</cusip>
        <identifiers>
          <isin value="GB00BVGBWW93"/>
          <ticker value="AGR"/>
        </identifiers>
        <balance>2949317</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>3048619.59</valUSD>
        <pctVal>0.1225306978</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>Hkc (Holding) Ltd</name>
        <lei>N/A</lei>
        <title>Hkc (Holding) Ltd HKD0.25</title>
        <cusip>G4516H179</cusip>
        <identifiers>
          <isin value="BMG4516H1795"/>
          <ticker value="190"/>
        </identifiers>
        <balance>195000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>158820.11</valUSD>
        <pctVal>0.0063833280</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>Charter Hall Long Wale Reit</name>
        <lei>N/A</lei>
        <title>Charter Hall Long Wale Reit NPV (STAPLED)</title>
        <cusip>Q2308E106</cusip>
        <identifiers>
          <isin value="AU000000CLW0"/>
          <ticker value="CLW"/>
        </identifiers>
        <balance>419383</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>1621456.55</valUSD>
        <pctVal>0.0651698897</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>Financial Street Holdings Corporation Limited</name>
        <lei>N/A</lei>
        <title>Financial Street Holdings Corporation Limited 'A'CNY1.0</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000KT5"/>
          <ticker value="000402"/>
        </identifiers>
        <balance>210700</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>245772.96</valUSD>
        <pctVal>0.0098781535</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>Sunlight Real Est</name>
        <lei>N/A</lei>
        <title>Sunlight Real Est NPV REIT</title>
        <cusip>Y8239W108</cusip>
        <identifiers>
          <isin value="HK0435036626"/>
          <ticker value="435"/>
        </identifiers>
        <balance>1331000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>860840.15</valUSD>
        <pctVal>0.0345990509</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>Poly Property Group Co. Limited</name>
        <lei>N/A</lei>
        <title>Poly Property Group Co. Limited NPV</title>
        <cusip>Y7064G105</cusip>
        <identifiers>
          <isin value="HK0119000674"/>
          <ticker value="119"/>
        </identifiers>
        <balance>2531000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1050633.72</valUSD>
        <pctVal>0.0422272701</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>RPT Realty</name>
        <lei>N/A</lei>
        <title>RPT Realty SH BEN INT</title>
        <cusip>74971D101</cusip>
        <identifiers>
          <isin value="US74971D1019"/>
          <ticker value="RPT"/>
        </identifiers>
        <balance>99035</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1489486.4</valUSD>
        <pctVal>0.0598657204</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>Klepierre</name>
        <lei>969500PB4U31KEFHZ621</lei>
        <title>Klepierre EUR1.40</title>
        <cusip>F5396X102</cusip>
        <identifiers>
          <isin value="FR0000121964"/>
          <ticker value="LI"/>
        </identifiers>
        <balance>242443</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>9215908.49</valUSD>
        <pctVal>0.3704075449</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>Soho China Limited</name>
        <lei>529900DEZNBJ3OIZQO40</lei>
        <title>Soho China Limited HKD0.02</title>
        <cusip>G82600100</cusip>
        <identifiers>
          <isin value="KYG826001003"/>
          <ticker value="410"/>
        </identifiers>
        <balance>2575756</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>972369.35</valUSD>
        <pctVal>0.0390816537</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>TMG Holding</name>
        <lei>N/A</lei>
        <title>TMG Holding EGP10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EGS691S1C011"/>
          <ticker value="TMGH"/>
        </identifiers>
        <balance>1105285</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.05"/>
        <valUSD>562627.94</valUSD>
        <pctVal>0.0226132491</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>Farglory Land Deve</name>
        <lei>N/A</lei>
        <title>Farglory Land Deve TWD10</title>
        <cusip>Y2642L106</cusip>
        <identifiers>
          <isin value="TW0005522007"/>
          <ticker value="5522"/>
        </identifiers>
        <balance>335000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>450540.74</valUSD>
        <pctVal>0.0181082190</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>GPT Group</name>
        <lei>N/A</lei>
        <title>GPT Group NPV (STAPLED SECURITIES)</title>
        <cusip>Q4252X155</cusip>
        <identifiers>
          <isin value="AU000000GPT8"/>
          <ticker value="GPT"/>
        </identifiers>
        <balance>2386422</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>9394113.47</valUSD>
        <pctVal>0.3775699933</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>Covivio, S.A.</name>
        <lei>969500P8M3W2XX376054</lei>
        <title>Covivio, S.A. EUR3</title>
        <cusip>F2R22T119</cusip>
        <identifiers>
          <isin value="FR0000064578"/>
          <ticker value="COV"/>
        </identifiers>
        <balance>58687</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>6666093.36</valUSD>
        <pctVal>0.2679248908</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>STORE Capital Corp</name>
        <lei>5493004EA6C9IHDZ7N66</lei>
        <title>STORE Capital Corp COM</title>
        <cusip>862121100</cusip>
        <identifiers>
          <isin value="US8621211007"/>
          <ticker value="STOR"/>
        </identifiers>
        <balance>268341</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9993018.84</valUSD>
        <pctVal>0.4016413118</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>Artis Real Estate Investment Trust</name>
        <lei>549300OG2O5VI2N1XS44</lei>
        <title>Artis Real Estate Investment Trust TR UNIT NEW</title>
        <cusip>04315L105</cusip>
        <identifiers>
          <isin value="CA04315L1058"/>
          <ticker value="AX.UN"/>
        </identifiers>
        <balance>87182</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>798941.74</valUSD>
        <pctVal>0.0321112182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</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>8603442</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1990702.42</valUSD>
        <pctVal>0.0800106899</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>Vereit Incorporation</name>
        <lei>5493002H54FNIBW75H44</lei>
        <title>Vereit Incorporation COM</title>
        <cusip>92339V100</cusip>
        <identifiers>
          <isin value="US92339V1008"/>
          <ticker value="VER"/>
        </identifiers>
        <balance>1291467</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11933155.08</valUSD>
        <pctVal>0.4796196361</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>Ado Properties S.A.</name>
        <lei>391200OYYFJ3DWAMEC69</lei>
        <title>Ado Properties S.A. NPV</title>
        <cusip>L0120V103</cusip>
        <identifiers>
          <isin value="LU1250154413"/>
          <ticker value="ADJ"/>
        </identifiers>
        <balance>35492</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1279393.19</valUSD>
        <pctVal>0.0514216142</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>DLF Limited</name>
        <lei>335800PJLUEOB8914F48</lei>
        <title>DLF Limited INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE271C01023"/>
          <ticker value="DLF"/>
        </identifiers>
        <balance>735107</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>2379395.65</valUSD>
        <pctVal>0.0956331220</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>Parkway Life Real</name>
        <lei>549300I4DKVD2OF5LW91</lei>
        <title>Parkway Life Real NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y67202104</cusip>
        <identifiers>
          <isin value="SG1V52937132"/>
          <ticker value="C2PU"/>
        </identifiers>
        <balance>469500</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1159067.68</valUSD>
        <pctVal>0.0465854684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iwg Plc</name>
        <lei>2138003LWDII27UTAG52</lei>
        <title>Iwg Plc ORD GBP0.01</title>
        <cusip>G4969N103</cusip>
        <identifiers>
          <isin value="JE00BYVQYS01"/>
          <ticker value="IWG"/>
        </identifiers>
        <balance>821593</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>4745549.78</valUSD>
        <pctVal>0.1907340383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sunteck Realty Ltd</name>
        <lei>335800TFT4V77I31F853</lei>
        <title>Sunteck Realty Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE805D01034"/>
          <ticker value="SUNTECK"/>
        </identifiers>
        <balance>60461</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>352899.08</valUSD>
        <pctVal>0.0141837869</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>Healthpeak Properties Inc</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak Properties Inc COM</title>
        <cusip>42250P103</cusip>
        <identifiers>
          <isin value="US42250P1030"/>
          <ticker value="PEAK"/>
        </identifiers>
        <balance>601137</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20721192.39</valUSD>
        <pctVal>0.8328301013</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>Kenedix Residential Next Investment Corporation</name>
        <lei>353800CYD58GUMFQME07</lei>
        <title>Kenedix Residential Next Investment Corporation REIT</title>
        <cusip>J3243Q103</cusip>
        <identifiers>
          <isin value="JP3047480003"/>
          <ticker value="3278"/>
        </identifiers>
        <balance>1059</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1999678.31</valUSD>
        <pctVal>0.0803714505</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>TOC Co Ltd</name>
        <lei>N/A</lei>
        <title>TOC Co Ltd NPV</title>
        <cusip>J84248103</cusip>
        <identifiers>
          <isin value="JP3538400007"/>
          <ticker value="8841"/>
        </identifiers>
        <balance>49000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>402619.37</valUSD>
        <pctVal>0.0161821542</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>Morguard North American Residential Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Morguard North American Residential Real Estate Investment Trust TR UNIT</title>
        <cusip>61761E100</cusip>
        <identifiers>
          <isin value="CA61761E1007"/>
          <ticker value="MRG.UN"/>
        </identifiers>
        <balance>21848</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>311092.77</valUSD>
        <pctVal>0.0125034997</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>Wallenstam AB</name>
        <lei>21380081R2P9MKFQBD25</lei>
        <title>Wallenstam AB SER'B'NPV</title>
        <cusip>W9898B114</cusip>
        <identifiers>
          <isin value="SE0007074844"/>
          <ticker value="WALL B"/>
        </identifiers>
        <balance>199815</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>2415908.15</valUSD>
        <pctVal>0.0971006394</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>MORI TRUST HOTEL REIT INC</name>
        <lei>N/A</lei>
        <title>MORI TRUST HOTEL REIT INC REIT</title>
        <cusip>J4672S107</cusip>
        <identifiers>
          <isin value="JP3048380004"/>
          <ticker value="3478"/>
        </identifiers>
        <balance>381</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>528039.51</valUSD>
        <pctVal>0.0212230643</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>Entra ASA</name>
        <lei>549300APU14LQKTYCH34</lei>
        <title>Entra ASA NOK1</title>
        <cusip>R2R8A2105</cusip>
        <identifiers>
          <isin value="NO0010716418"/>
          <ticker value="ENTRA"/>
        </identifiers>
        <balance>212897</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="8.7793"/>
        <valUSD>3518592.46</valUSD>
        <pctVal>0.1414199366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Storage Affiliates Trust</name>
        <lei>N/A</lei>
        <title>National Storage Affiliates Trust COM SHS BEN IN</title>
        <cusip>637870106</cusip>
        <identifiers>
          <isin value="US6378701063"/>
          <ticker value="NSA"/>
        </identifiers>
        <balance>72812</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2447939.44</valUSD>
        <pctVal>0.0983880470</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>Civitas Social Housing Plc</name>
        <lei>213800PGBG84J8GM6F95</lei>
        <title>Civitas Social Housing Plc ORD GBP0.01</title>
        <cusip>G2251U108</cusip>
        <identifiers>
          <isin value="GB00BD8HBD32"/>
          <ticker value="CSH"/>
        </identifiers>
        <balance>772080</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>934527.49</valUSD>
        <pctVal>0.0375607064</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>Sino-Ocean Group Holdings Ltd</name>
        <lei>529900OLNN3N4AB8ME83</lei>
        <title>Sino-Ocean Group Holdings Ltd NPV</title>
        <cusip>Y8002N103</cusip>
        <identifiers>
          <isin value="HK3377040226"/>
          <ticker value="3377"/>
        </identifiers>
        <balance>3794000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1526441.93</valUSD>
        <pctVal>0.0613510441</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>Barwa Real Estate</name>
        <lei>N/A</lei>
        <title>Barwa Real Estate QAR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="QA000A0KD6J5"/>
          <ticker value="BRES"/>
        </identifiers>
        <balance>2351942</balance>
        <units>NS</units>
        <currencyConditional curCd="QAR" exchangeRt="3.641"/>
        <valUSD>2287509.49</valUSD>
        <pctVal>0.0919400160</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>Intervest Offices &amp; Warehouses SA</name>
        <lei>549300MEVEE709A1SM83</lei>
        <title>Intervest Offices &amp; Warehouses SA NPV</title>
        <cusip>B5241S112</cusip>
        <identifiers>
          <isin value="BE0003746600"/>
          <ticker value="INTO"/>
        </identifiers>
        <balance>23275</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>669769.35</valUSD>
        <pctVal>0.0269194970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lippo Karawaci</name>
        <lei>254900KQ77NJ1AG8IC28</lei>
        <title>Lippo Karawaci IDR100</title>
        <cusip>Y7129W186</cusip>
        <identifiers>
          <isin value="ID1000108905"/>
          <ticker value="LPKR"/>
        </identifiers>
        <balance>32984310</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>574176.98</valUSD>
        <pctVal>0.0230774303</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>Phoenix Mills</name>
        <lei>33580037PCXCE5PNQU51</lei>
        <title>Phoenix Mills INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE211B01039"/>
          <ticker value="PHOENIXLTD"/>
        </identifiers>
        <balance>63193</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>738015.31</valUSD>
        <pctVal>0.0296624516</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>Palm Hills Devs Sa</name>
        <lei>213800GJ1AR3ZHMJS148</lei>
        <title>Palm Hills Devs Sa EGP2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EGS655L1C012"/>
          <ticker value="PHDC"/>
        </identifiers>
        <balance>1742347</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.05"/>
        <valUSD>189761.26</valUSD>
        <pctVal>0.0076269206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Melisron</name>
        <lei>213800B9SL62L9VLO604</lei>
        <title>Melisron ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0003230146"/>
          <ticker value="MLSR"/>
        </identifiers>
        <balance>22175</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>1417855.78</valUSD>
        <pctVal>0.0569867289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chinese Estates Holding Ltd</name>
        <lei>254900OCQEQVNKB0UF58</lei>
        <title>Chinese Estates Holding Ltd ORD HKD0.10</title>
        <cusip>G2108M218</cusip>
        <identifiers>
          <isin value="BMG2108M2182"/>
          <ticker value="127"/>
        </identifiers>
        <balance>565000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>447437.33</valUSD>
        <pctVal>0.0179834862</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>STAG Industrial, Inc.</name>
        <lei>549300QWYX2W6FASVQ07</lei>
        <title>STAG Industrial, Inc. COM</title>
        <cusip>85254J102</cusip>
        <identifiers>
          <isin value="US85254J1025"/>
          <ticker value="STAG"/>
        </identifiers>
        <balance>155548</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4910650.36</valUSD>
        <pctVal>0.1973697922</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>Tricon Capital Group Inc.</name>
        <lei>N/A</lei>
        <title>Tricon Capital Group Inc. COM</title>
        <cusip>89612W102</cusip>
        <identifiers>
          <isin value="CA89612W1023"/>
          <ticker value="TCN"/>
        </identifiers>
        <balance>216852</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>1775162.11</valUSD>
        <pctVal>0.0713476528</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>ECO WORLD INTERNATIONAL BHD</name>
        <lei>N/A</lei>
        <title>ECO WORLD INTERNATIONAL BHD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYL5283OO006"/>
          <ticker value="EWINT"/>
        </identifiers>
        <balance>742800</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>167209.02</valUSD>
        <pctVal>0.0067204967</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>BR Properties S.A.</name>
        <lei>5299006YP26ETK0IV586</lei>
        <title>BR Properties S.A. COM NPV</title>
        <cusip>P1909V120</cusip>
        <identifiers>
          <isin value="BRBRPRACNOR9"/>
          <ticker value="BRPR3"/>
        </identifiers>
        <balance>273452</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>984559.31</valUSD>
        <pctVal>0.0395715948</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>Yuzhou Properties Company Ltd</name>
        <lei>213800MP59KHGJSPHE82</lei>
        <title>Yuzhou Properties Company Ltd HKD0.10</title>
        <cusip>G9884T101</cusip>
        <identifiers>
          <isin value="KYG9884T1013"/>
          <ticker value="1628"/>
        </identifiers>
        <balance>2093851</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1154439.05</valUSD>
        <pctVal>0.0463994336</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>Howard Hughes Corp</name>
        <lei>549300BVHY25JZC1KI49</lei>
        <title>Howard Hughes Corp COM</title>
        <cusip>44267D107</cusip>
        <identifiers>
          <isin value="US44267D1072"/>
          <ticker value="HHC"/>
        </identifiers>
        <balance>50230</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6369164</valUSD>
        <pctVal>0.2559906495</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>Summit Hotel Properties, Inc.</name>
        <lei>N/A</lei>
        <title>Summit Hotel Properties, Inc. COM</title>
        <cusip>866082100</cusip>
        <identifiers>
          <isin value="US8660821005"/>
          <ticker value="INN"/>
        </identifiers>
        <balance>130023</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1604483.82</valUSD>
        <pctVal>0.0644877185</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>NATIONAL STORAGE REIT</name>
        <lei>N/A</lei>
        <title>NATIONAL STORAGE REIT REIT STAPLED UNIT</title>
        <cusip>Q6605D109</cusip>
        <identifiers>
          <isin value="AU000000NSR2"/>
          <ticker value="NSR"/>
        </identifiers>
        <balance>963832</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>1242672.6</valUSD>
        <pctVal>0.0499457332</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>Empiric Student Property Plc</name>
        <lei>213800FPF38IBPRFPU87</lei>
        <title>Empiric Student Property Plc GBP0.01</title>
        <cusip>G30381100</cusip>
        <identifiers>
          <isin value="GB00BLWDVR75"/>
          <ticker value="ESP"/>
        </identifiers>
        <balance>721919</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>933117.79</valUSD>
        <pctVal>0.0375040475</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>TLG Immobilien AG</name>
        <lei>549300NYSIH10FPUO363</lei>
        <title>TLG Immobilien AG NPV</title>
        <cusip>D8T622108</cusip>
        <identifiers>
          <isin value="DE000A12B8Z4"/>
          <ticker value="TLG"/>
        </identifiers>
        <balance>96324</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3074212.75</valUSD>
        <pctVal>0.1235593429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Newriver Reit Plc</name>
        <lei>2138004GX1VAUMH66L31</lei>
        <title>Newriver Reit Plc ORD GBP0.01</title>
        <cusip>G64950101</cusip>
        <identifiers>
          <isin value="GB00BD7XPJ64"/>
          <ticker value="NRR"/>
        </identifiers>
        <balance>378090</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>1005968.77</valUSD>
        <pctVal>0.0404320879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Skyfame Realty (Holdings) Ltd.</name>
        <lei>549300HOUABT02D17I63</lei>
        <title>Skyfame Realty (Holdings) Ltd. HKD0.0033333</title>
        <cusip>G8220B147</cusip>
        <identifiers>
          <isin value="BMG8220B1476"/>
          <ticker value="59"/>
        </identifiers>
        <balance>2908000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>384439.94</valUSD>
        <pctVal>0.0154514831</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>Unite Group</name>
        <lei>213800BBUUWVDH9YI827</lei>
        <title>Unite Group ORD GBP0.25</title>
        <cusip>G9283N101</cusip>
        <identifiers>
          <isin value="GB0006928617"/>
          <ticker value="UTG"/>
        </identifiers>
        <balance>355513</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>5945288.3</valUSD>
        <pctVal>0.2389541569</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>Picton Property Income Limited</name>
        <lei>213800RYE59K9CKR4497</lei>
        <title>Picton Property Income Limited ORD NPV</title>
        <cusip>G7083C101</cusip>
        <identifiers>
          <isin value="GB00B0LCW208"/>
          <ticker value="PCTN"/>
        </identifiers>
        <balance>644452</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>828753.2</valUSD>
        <pctVal>0.0333094061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>StModwen Props</name>
        <lei>213800WMV4WVES8TQH05</lei>
        <title>StModwen Props ORD GBP0.10</title>
        <cusip>G61824101</cusip>
        <identifiers>
          <isin value="GB0007291015"/>
          <ticker value="SMP"/>
        </identifiers>
        <balance>247897</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>1637387.61</valUSD>
        <pctVal>0.0658101939</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>Ananda Development Public Company Limited</name>
        <lei>N/A</lei>
        <title>Ananda Development Public Company Limited THB0.10(NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH4101010R10"/>
          <ticker value="ANAN-R"/>
        </identifiers>
        <balance>1655600</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>144341.39</valUSD>
        <pctVal>0.0058013966</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>VUKILE PROPERTY FUND LIMITED</name>
        <lei>549300BDQAETROOTKO37</lei>
        <title>VUKILE PROPERTY FUND LIMITED NPV (POST DELINKING)</title>
        <cusip>S9468N170</cusip>
        <identifiers>
          <isin value="ZAE000180865"/>
          <ticker value="VKE"/>
        </identifiers>
        <balance>945745</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>1309644.76</valUSD>
        <pctVal>0.0526374910</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>Brixmor Property Group Inc</name>
        <lei>5299007UXW6Y0W2EGZ95</lei>
        <title>Brixmor Property Group Inc COM</title>
        <cusip>11120U105</cusip>
        <identifiers>
          <isin value="US11120U1051"/>
          <ticker value="BRX"/>
        </identifiers>
        <balance>364673</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7880583.53</valUSD>
        <pctVal>0.3167379104</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>Equity CommonWealth</name>
        <lei>549300YPGVU9PR4L0606</lei>
        <title>Equity CommonWealth COM SH BEN INT</title>
        <cusip>294628102</cusip>
        <identifiers>
          <isin value="US2946281027"/>
          <ticker value="EQC"/>
        </identifiers>
        <balance>149545</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4909562.35</valUSD>
        <pctVal>0.1973260627</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>Seazen Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Seazen Holdings Co Ltd A CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100002BF8"/>
          <ticker value="FTLNHD"/>
        </identifiers>
        <balance>159600</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>888234.79</valUSD>
        <pctVal>0.0357001014</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>Essex Property Trust, Inc.</name>
        <lei>549300TR2H2VEFX0NC60</lei>
        <title>Essex Property Trust, Inc. COM</title>
        <cusip>297178105</cusip>
        <identifiers>
          <isin value="US2971781057"/>
          <ticker value="ESS"/>
        </identifiers>
        <balance>80399</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24188843.14</valUSD>
        <pctVal>0.9722025790</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>Pennsylvania Real Estate Investment Trust</name>
        <lei>5493001GPBXRIG8WJO70</lei>
        <title>Pennsylvania Real Estate Investment Trust SH BEN INT</title>
        <cusip>709102107</cusip>
        <identifiers>
          <isin value="US7091021078"/>
          <ticker value="PEI"/>
        </identifiers>
        <balance>86397</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>460496.01</valUSD>
        <pctVal>0.0185083431</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>Global Net Lease Inc</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>Global Net Lease Inc COM NEW</title>
        <cusip>379378201</cusip>
        <identifiers>
          <isin value="US3793782018"/>
          <ticker value="GNL"/>
        </identifiers>
        <balance>103904</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2107173.12</valUSD>
        <pctVal>0.0846919024</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>Extra Space Storage Inc.</name>
        <lei>529900SDJHKRQWED6A16</lei>
        <title>Extra Space Storage Inc. COM</title>
        <cusip>30225T102</cusip>
        <identifiers>
          <isin value="US30225T1025"/>
          <ticker value="EXR"/>
        </identifiers>
        <balance>157291</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16613075.42</valUSD>
        <pctVal>0.6677158835</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>Sunway Real Estate</name>
        <lei>N/A</lei>
        <title>Sunway Real Estate REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYL5176TO001"/>
          <ticker value="SUNREIT"/>
        </identifiers>
        <balance>1856500</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>826536.74</valUSD>
        <pctVal>0.0332203217</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>Schroder Real Estate Inv Trust Ltd</name>
        <lei>549300ZIJJTMTIIQJP67</lei>
        <title>Schroder Real Estate Inv Trust Ltd ORD SHS NPV</title>
        <cusip>G4935B100</cusip>
        <identifiers>
          <isin value="GB00B01HM147"/>
          <ticker value="SREI"/>
        </identifiers>
        <balance>608343</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>447900.06</valUSD>
        <pctVal>0.0180020843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Retail Value Inc.</name>
        <lei>549300VO5RB7323N1Z31</lei>
        <title>Retail Value Inc. COM</title>
        <cusip>76133Q102</cusip>
        <identifiers>
          <isin value="US76133Q1022"/>
          <ticker value="RVI"/>
        </identifiers>
        <balance>19959</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>734491.2</valUSD>
        <pctVal>0.0295208099</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>Sentul City Tbk</name>
        <lei>254900XTT2NNR3BPGT97</lei>
        <title>Sentul City Tbk LKD SHS(IDR2000 &amp; IDR400)</title>
        <cusip>Y7135Q165</cusip>
        <identifiers>
          <isin value="ID1000104201"/>
          <ticker value="BKSL"/>
        </identifiers>
        <balance>23107900</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>141663</valUSD>
        <pctVal>0.0056937462</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>Oue Limited</name>
        <lei>254900MR17VBF15G0543</lei>
        <title>Oue Limited NPV</title>
        <cusip>V70197138</cusip>
        <identifiers>
          <isin value="SG2B80958517"/>
          <ticker value="LJ3"/>
        </identifiers>
        <balance>345500</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>382712.06</valUSD>
        <pctVal>0.0153820358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unibail-Rodamco-Westfield</name>
        <lei>N/A</lei>
        <title>Unibail-Rodamco-Westfield NPV (1 ORD UNIBAIL-R &amp; 1CLASS A WFD)</title>
        <cusip>F95094581</cusip>
        <identifiers>
          <isin value="FR0013326246"/>
          <ticker value="URW"/>
        </identifiers>
        <balance>169382</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>26761283.89</valUSD>
        <pctVal>1.0755946064</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>Minto Apt Real Estate Invt Tr</name>
        <lei>N/A</lei>
        <title>Minto Apt Real Estate Invt Tr UNIT</title>
        <cusip>60448E103</cusip>
        <identifiers>
          <isin value="CA60448E1034"/>
          <ticker value="MI.UN"/>
        </identifiers>
        <balance>19872</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>354269.61</valUSD>
        <pctVal>0.0142388715</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>John Mattson Fastighetsforetagen AB</name>
        <lei>549300UP4ZA93HCPRZ59</lei>
        <title>John Mattson Fastighetsforetagen AB NPV</title>
        <cusip>W5S578116</cusip>
        <identifiers>
          <isin value="SE0012481364"/>
          <ticker value="JOMA"/>
        </identifiers>
        <balance>22314</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>334648.32</valUSD>
        <pctVal>0.0134502489</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>Cousins Properties Incorporated</name>
        <lei>5493007XPYD5EJABN062</lei>
        <title>Cousins Properties Incorporated COM NEW</title>
        <cusip>222795502</cusip>
        <identifiers>
          <isin value="US2227955026"/>
          <ticker value="CUZ"/>
        </identifiers>
        <balance>177991</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7333229.2</valUSD>
        <pctVal>0.2947385412</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>Aliansce Sonae Shopping Centers S.A</name>
        <lei>N/A</lei>
        <title>Aliansce Sonae Shopping Centers S.A COM NPV</title>
        <cusip>P8731D103</cusip>
        <identifiers>
          <isin value="BRALSOACNOR5"/>
          <ticker value="ALSO3"/>
        </identifiers>
        <balance>162200.443</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>2022900.14</valUSD>
        <pctVal>0.0813047868</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>Service Properties Trust</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust COM SH BEN INT</title>
        <cusip>81761L102</cusip>
        <identifiers>
          <isin value="US81761L1026"/>
          <ticker value="SVC"/>
        </identifiers>
        <balance>201706</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4907506.98</valUSD>
        <pctVal>0.1972434529</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>CubeSmart L.P.</name>
        <lei>549300MPHKO3I3FJRA97</lei>
        <title>CubeSmart L.P. COM</title>
        <cusip>229663109</cusip>
        <identifiers>
          <isin value="US2296631094"/>
          <ticker value="CUBE"/>
        </identifiers>
        <balance>235697</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7419741.56</valUSD>
        <pctVal>0.2982156624</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>Ryman Hospitality Properties Inc</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties Inc COM</title>
        <cusip>78377T107</cusip>
        <identifiers>
          <isin value="US78377T1079"/>
          <ticker value="RHP"/>
        </identifiers>
        <balance>59888</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5189894.08</valUSD>
        <pctVal>0.2085932089</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>Jingrui Holdings Ltd.</name>
        <lei>549300RXCFKI6KHCMP52</lei>
        <title>Jingrui Holdings Ltd. USD0.01</title>
        <cusip>G5138W106</cusip>
        <identifiers>
          <isin value="KYG5138W1069"/>
          <ticker value="1862"/>
        </identifiers>
        <balance>577000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>191212.09</valUSD>
        <pctVal>0.0076852326</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>Tahoe Group Co Ltd</name>
        <lei>N/A</lei>
        <title>Tahoe Group Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE0000005W5"/>
          <ticker value="000732"/>
        </identifiers>
        <balance>173000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>152773.67</valUSD>
        <pctVal>0.0061403084</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>CHARTER HALL SOCIAL INFRASTRUCTURE</name>
        <lei>N/A</lei>
        <title>CHARTER HALL SOCIAL INFRASTRUCTURE NPV</title>
        <cusip>Q2308H109</cusip>
        <identifiers>
          <isin value="AU0000030645"/>
          <ticker value="CQE"/>
        </identifiers>
        <balance>307066</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>698340.6</valUSD>
        <pctVal>0.0280678381</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>Office Properties Income Trust</name>
        <lei>529900A38AW14ELBTL34</lei>
        <title>Office Properties Income Trust COM SHS BEN INT</title>
        <cusip>67623C109</cusip>
        <identifiers>
          <isin value="US67623C1099"/>
          <ticker value="OPI"/>
        </identifiers>
        <balance>59270</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1904937.8</valUSD>
        <pctVal>0.0765636220</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>SAMTY RESIDENTIAL INVESTMENT CORP</name>
        <lei>N/A</lei>
        <title>SAMTY RESIDENTIAL INVESTMENT CORP REIT</title>
        <cusip>J6779Q108</cusip>
        <identifiers>
          <isin value="JP3047960004"/>
          <ticker value="3459"/>
        </identifiers>
        <balance>357</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>379510.02</valUSD>
        <pctVal>0.0152533388</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>Global Medical Reit Inc</name>
        <lei>549300HFRIPQDYU3GU60</lei>
        <title>Global Medical Reit Inc COM NEW</title>
        <cusip>37954A204</cusip>
        <identifiers>
          <isin value="US37954A2042"/>
          <ticker value="GMRE"/>
        </identifiers>
        <balance>37546</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>496733.58</valUSD>
        <pctVal>0.0199648104</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>Cibanco S.A. Institucion de Banca Multiple</name>
        <lei>529900H31AYI6WA1J534</lei>
        <title>Cibanco S.A. Institucion de Banca Multiple CBFI (MACQUARIE MEX REAL EST) 144A/REG S</title>
        <cusip>P3515D155</cusip>
        <identifiers>
          <isin value="MXCFFI0U0002"/>
          <ticker value="FIBRAMQ 12"/>
        </identifiers>
        <balance>950689</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>1242947.62</valUSD>
        <pctVal>0.0499567869</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>Kite Realty Group Trust</name>
        <lei>N/A</lei>
        <title>Kite Realty Group Trust COM NEW</title>
        <cusip>49803T300</cusip>
        <identifiers>
          <isin value="US49803T3005"/>
          <ticker value="KRG"/>
        </identifiers>
        <balance>103468</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2020730.04</valUSD>
        <pctVal>0.0812175657</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>Colony Capital Inc</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>Colony Capital Inc CL A COM</title>
        <cusip>19626G108</cusip>
        <identifiers>
          <isin value="US19626G1085"/>
          <ticker value="CLNY"/>
        </identifiers>
        <balance>567738</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2696755.5</valUSD>
        <pctVal>0.1083885094</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>Sunstone Hotel Investors Inc.</name>
        <lei>N/A</lei>
        <title>Sunstone Hotel Investors Inc. COM</title>
        <cusip>867892101</cusip>
        <identifiers>
          <isin value="US8678921011"/>
          <ticker value="SHO"/>
        </identifiers>
        <balance>276219</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3844968.48</valUSD>
        <pctVal>0.1545377036</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>PT Ciputra Development Tbk</name>
        <lei>2549000JMJUYB9U5Y204</lei>
        <title>PT Ciputra Development Tbk IDR250</title>
        <cusip>Y7121J134</cusip>
        <identifiers>
          <isin value="ID1000115306"/>
          <ticker value="CTRA"/>
        </identifiers>
        <balance>12739236</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>949277.74</valUSD>
        <pctVal>0.0381535513</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>Shanghai Industria</name>
        <lei>N/A</lei>
        <title>Shanghai Industria HKD0.04</title>
        <cusip>G8065B103</cusip>
        <identifiers>
          <isin value="BMG8065B1037"/>
          <ticker value="563"/>
        </identifiers>
        <balance>2266000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>285022.37</valUSD>
        <pctVal>0.0114556732</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>Paramount Group Inc</name>
        <lei>5493006GJU1CFI7Z5J17</lei>
        <title>Paramount Group Inc COM</title>
        <cusip>69924R108</cusip>
        <identifiers>
          <isin value="US69924R1086"/>
          <ticker value="PGRE"/>
        </identifiers>
        <balance>230251</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3205093.92</valUSD>
        <pctVal>0.1288197438</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>Emira Property Fund Limited</name>
        <lei>N/A</lei>
        <title>Emira Property Fund Limited NPV (REIT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ZAE000203063"/>
          <ticker value="EMI"/>
        </identifiers>
        <balance>504152</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>475396.93</valUSD>
        <pctVal>0.0191072437</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>RiseSun Real Estate Development Co.,Ltd.</name>
        <lei>N/A</lei>
        <title>RiseSun Real Estate Development Co.,Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE1000005Y9"/>
          <ticker value="002146"/>
        </identifiers>
        <balance>305800</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>431633.18</valUSD>
        <pctVal>0.0173482828</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>Catena Ab</name>
        <lei>549300EMLM7AH5LDLY65</lei>
        <title>Catena Ab NPV</title>
        <cusip>W2356E100</cusip>
        <identifiers>
          <isin value="SE0001664707"/>
          <ticker value="CATE"/>
        </identifiers>
        <balance>25505</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>1126347.63</valUSD>
        <pctVal>0.0452703779</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>Sabana Shariah Co</name>
        <lei>5493005OCDJ0XQ8KGS87</lei>
        <title>Sabana Shariah Co NPV(REAL ESTATE INVESTMENT TRUSTS UNITS)</title>
        <cusip>Y7368R104</cusip>
        <identifiers>
          <isin value="SG2C57965205"/>
          <ticker value="M1GU"/>
        </identifiers>
        <balance>937000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>320237.33</valUSD>
        <pctVal>0.0128710396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Workspace Group</name>
        <lei>2138003GUZRFIN3UT430</lei>
        <title>Workspace Group ORD GBP1</title>
        <cusip>G5595E136</cusip>
        <identifiers>
          <isin value="GB00B67G5X01"/>
          <ticker value="WKP"/>
        </identifiers>
        <balance>166358</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>2636204.81</valUSD>
        <pctVal>0.1059548446</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>Douglas Emmett Inc</name>
        <lei>N/A</lei>
        <title>Douglas Emmett Inc COM</title>
        <cusip>25960P109</cusip>
        <identifiers>
          <isin value="US25960P1093"/>
          <ticker value="DEI"/>
        </identifiers>
        <balance>203610</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8938479</valUSD>
        <pctVal>0.3592570462</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>Far East Hospitality Trust</name>
        <lei>5493001NEC2QWVTAYN18</lei>
        <title>Far East Hospitality Trust NPV STAPLED SECURITIES (H-REIT&amp;H-BT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2F08984575"/>
          <ticker value="Q5T"/>
        </identifiers>
        <balance>881703</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>484857.09</valUSD>
        <pctVal>0.0194874683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Retail Properties of America Inc.</name>
        <lei>549300OVTYLM7DH6CM14</lei>
        <title>Retail Properties of America Inc. CL A</title>
        <cusip>76131V202</cusip>
        <identifiers>
          <isin value="US76131V2025"/>
          <ticker value="RPAI"/>
        </identifiers>
        <balance>262115</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3512341</valUSD>
        <pctVal>0.1411686768</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>Selvaag Bolig As</name>
        <lei>5967007LIEEXZXIHPK59</lei>
        <title>Selvaag Bolig As NOK2</title>
        <cusip>R7800E107</cusip>
        <identifiers>
          <isin value="NO0010612450"/>
          <ticker value="SBO"/>
        </identifiers>
        <balance>49303</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="8.7793"/>
        <valUSD>416930.28</valUSD>
        <pctVal>0.0167573410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUI FUDOSAN LOGISTICS PARK INC</name>
        <lei>N/A</lei>
        <title>MITSUI FUDOSAN LOGISTICS PARK INC REIT</title>
        <cusip>J44788107</cusip>
        <identifiers>
          <isin value="JP3048300002"/>
          <ticker value="3471"/>
        </identifiers>
        <balance>419</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1860566.18</valUSD>
        <pctVal>0.0747802294</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>Nepi Rockcastle Plc</name>
        <lei>549300FMWM53K9ULYT15</lei>
        <title>Nepi Rockcastle Plc ORD EUR0.01</title>
        <cusip>G6420W101</cusip>
        <identifiers>
          <isin value="IM00BDD7WV31"/>
          <ticker value="NRP"/>
        </identifiers>
        <balance>467493</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>4131914.65</valUSD>
        <pctVal>0.1660706986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IGB Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>IGB Real Estate Investment Trust UNITS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYL5227TO002"/>
          <ticker value="IGBREIT"/>
        </identifiers>
        <balance>2209600</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>1020975.07</valUSD>
        <pctVal>0.0410352240</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>GLP J-REIT</name>
        <lei>353800E27V9KA51K2I90</lei>
        <title>GLP J-REIT REIT</title>
        <cusip>J17305103</cusip>
        <identifiers>
          <isin value="JP3047510007"/>
          <ticker value="3281"/>
        </identifiers>
        <balance>4227</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>5259411.84</valUSD>
        <pctVal>0.2113872799</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>Oxley Holdings Ltd</name>
        <lei>N/A</lei>
        <title>Oxley Holdings Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2F25986140"/>
          <ticker value="5UX"/>
        </identifiers>
        <balance>998437</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>263805.79</valUSD>
        <pctVal>0.0106029324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Granite Real Estate Investment Trust</name>
        <lei>549300U7HUKRB4S4KZ73</lei>
        <title>Granite Real Estate Investment Trust STAPLED UNIT</title>
        <cusip>387437114</cusip>
        <identifiers>
          <isin value="CA3874371147"/>
          <ticker value="GRT.UN"/>
        </identifiers>
        <balance>30125</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>1530666.9</valUSD>
        <pctVal>0.0615208549</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>Front Yard Residential Corporation</name>
        <lei>N/A</lei>
        <title>Front Yard Residential Corporation COM</title>
        <cusip>35904G107</cusip>
        <identifiers>
          <isin value="US35904G1076"/>
          <ticker value="RESI"/>
        </identifiers>
        <balance>63287</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>780961.58</valUSD>
        <pctVal>0.0313885562</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>Hang Lung Properties Limited</name>
        <lei>529900CIVTNMXQT59E61</lei>
        <title>Hang Lung Properties Limited NPV</title>
        <cusip>Y30166105</cusip>
        <identifiers>
          <isin value="HK0101000591"/>
          <ticker value="101"/>
        </identifiers>
        <balance>2483452</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>5429177.76</valUSD>
        <pctVal>0.2182105440</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>Core Intl Limited</name>
        <lei>N/A</lei>
        <title>Core Intl Limited REIT</title>
        <cusip>J0816Z106</cusip>
        <identifiers>
          <isin value="JP3047540004"/>
          <ticker value="3282"/>
        </identifiers>
        <balance>707</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2237856.07</valUSD>
        <pctVal>0.0899443363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cofinimmo S.A./N.V.</name>
        <lei>549300TM914CSF6KI389</lei>
        <title>Cofinimmo S.A./N.V. NPV</title>
        <cusip>B25654136</cusip>
        <identifiers>
          <isin value="BE0003593044"/>
          <ticker value="COFB"/>
        </identifiers>
        <balance>31702</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>4662495.83</valUSD>
        <pctVal>0.1873959182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Leopalace 21 Corp</name>
        <lei>529900Z3BHJUW1DY6254</lei>
        <title>Leopalace 21 Corp NPV</title>
        <cusip>J38781100</cusip>
        <identifiers>
          <isin value="JP3167500002"/>
          <ticker value="8848"/>
        </identifiers>
        <balance>289500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>949310.3</valUSD>
        <pctVal>0.0381548599</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>Nippon Building Fund Inc</name>
        <lei>52990053R8NL2MB32172</lei>
        <title>Nippon Building Fund Inc REIT</title>
        <cusip>J52088101</cusip>
        <identifiers>
          <isin value="JP3027670003"/>
          <ticker value="8951"/>
        </identifiers>
        <balance>1641</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>12024666.61</valUSD>
        <pctVal>0.4832976849</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>Eurocommercial</name>
        <lei>724500SFK53FPNM68L95</lei>
        <title>Eurocommercial CVA EUR0.50 (REP 10 SHS)</title>
        <cusip>N31065142</cusip>
        <identifiers>
          <isin value="NL0000288876"/>
          <ticker value="ECMPA"/>
        </identifiers>
        <balance>52416</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1469622.97</valUSD>
        <pctVal>0.0590673656</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>Vastned</name>
        <lei>724500GTYRJW5W85PN10</lei>
        <title>Vastned EUR5</title>
        <cusip>N91784103</cusip>
        <identifiers>
          <isin value="NL0000288918"/>
          <ticker value="VASTN"/>
        </identifiers>
        <balance>13072</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>392959.53</valUSD>
        <pctVal>0.0157939041</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>Tokyu Reit Inc</name>
        <lei>N/A</lei>
        <title>Tokyu Reit Inc REIT</title>
        <cusip>J88914106</cusip>
        <identifiers>
          <isin value="JP3044510000"/>
          <ticker value="8957"/>
        </identifiers>
        <balance>1080</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2048720.37</valUSD>
        <pctVal>0.0823425583</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>Mapletree Logistics Trust</name>
        <lei>549300M9EBZIYH387075</lei>
        <title>Mapletree Logistics Trust NPV (REIT)</title>
        <cusip>Y5759Q107</cusip>
        <identifiers>
          <isin value="SG1S03926213"/>
          <ticker value="M44U"/>
        </identifiers>
        <balance>3128514</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>4050130.85</valUSD>
        <pctVal>0.1627836286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ichigo Office REIT Investment Corporation</name>
        <lei>N/A</lei>
        <title>Ichigo Office REIT Investment Corporation REIT</title>
        <cusip>J2382Z106</cusip>
        <identifiers>
          <isin value="JP3046300004"/>
          <ticker value="8975"/>
        </identifiers>
        <balance>1509</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1567584</valUSD>
        <pctVal>0.0630046339</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>Daiwa House REIT Investment Corporation</name>
        <lei>3538001FWU534P8JMO05</lei>
        <title>Daiwa House REIT Investment Corporation REIT</title>
        <cusip>J12380101</cusip>
        <identifiers>
          <isin value="JP3046390005"/>
          <ticker value="8984"/>
        </identifiers>
        <balance>2287</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>5974656.34</valUSD>
        <pctVal>0.2401345227</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>Wereldhave NV</name>
        <lei>724500YRQCY3BD9RJZ92</lei>
        <title>Wereldhave NV EUR1</title>
        <cusip>N95060120</cusip>
        <identifiers>
          <isin value="NL0000289213"/>
          <ticker value="WHA"/>
        </identifiers>
        <balance>40431</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>913508.78</valUSD>
        <pctVal>0.0367159184</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>Befimmo Sa</name>
        <lei>529900UM10B3V374TA43</lei>
        <title>Befimmo Sa NPV</title>
        <cusip>B09186105</cusip>
        <identifiers>
          <isin value="BE0003678894"/>
          <ticker value="BEFB"/>
        </identifiers>
        <balance>27881</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1692635.43</valUSD>
        <pctVal>0.0680307248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chong Hong Constru</name>
        <lei>N/A</lei>
        <title>Chong Hong Constru TWD10</title>
        <cusip>Y1582T103</cusip>
        <identifiers>
          <isin value="TW0005534002"/>
          <ticker value="5534"/>
        </identifiers>
        <balance>207000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>561760.83</valUSD>
        <pctVal>0.0225783980</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>Hang Lung Group</name>
        <lei>529900V2T2EPOQYH0981</lei>
        <title>Hang Lung Group NPV</title>
        <cusip>Y30148111</cusip>
        <identifiers>
          <isin value="HK0010000088"/>
          <ticker value="10"/>
        </identifiers>
        <balance>1093000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2697753.98</valUSD>
        <pctVal>0.1084286405</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 Bldgs</name>
        <lei>N/A</lei>
        <title>Industrial Bldgs ILS1</title>
        <cusip>M5514Q106</cusip>
        <identifiers>
          <isin value="IL0002260193"/>
          <ticker value="IBLD"/>
        </identifiers>
        <balance>698678</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>1908938.54</valUSD>
        <pctVal>0.0767244205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hung Sheng Constru</name>
        <lei>N/A</lei>
        <title>Hung Sheng Constru TWD10</title>
        <cusip>Y3780S101</cusip>
        <identifiers>
          <isin value="TW0002534005"/>
          <ticker value="2534"/>
        </identifiers>
        <balance>557760</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>481318.24</valUSD>
        <pctVal>0.0193452341</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>Deutsche Euroshop AG</name>
        <lei>529900Y9QTEFHFEKQ736</lei>
        <title>Deutsche Euroshop AG NPV (REGD)</title>
        <cusip>D1854M102</cusip>
        <identifiers>
          <isin value="DE0007480204"/>
          <ticker value="DEQ"/>
        </identifiers>
        <balance>61334</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1817783.35</valUSD>
        <pctVal>0.0730606938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lamda Development</name>
        <lei>213800C7PQZVF38FYL54</lei>
        <title>Lamda Development EUR0.3</title>
        <cusip>X4740Y122</cusip>
        <identifiers>
          <isin value="GRS245213004"/>
          <ticker value="LAMDA"/>
        </identifiers>
        <balance>73182</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>676101.82</valUSD>
        <pctVal>0.0271740128</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>Indiabulls Real Estate Limited</name>
        <lei>335800BB14JHMN4NZI69</lei>
        <title>Indiabulls Real Estate Limited INR2</title>
        <cusip>Y3912A101</cusip>
        <identifiers>
          <isin value="INE069I01010"/>
          <ticker value="IBREALEST"/>
        </identifiers>
        <balance>229467</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>209182.18</valUSD>
        <pctVal>0.0084074899</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>UDR Inc</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR Inc COM</title>
        <cusip>902653104</cusip>
        <identifiers>
          <isin value="US9026531049"/>
          <ticker value="UDR"/>
        </identifiers>
        <balance>358197</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16727799.9</valUSD>
        <pctVal>0.6723269116</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>KWG Group Holdings Limited</name>
        <lei>549300LK82ZOM9ZE7H90</lei>
        <title>KWG Group Holdings Limited HKD0.10</title>
        <cusip>G53224104</cusip>
        <identifiers>
          <isin value="KYG532241042"/>
          <ticker value="1813"/>
        </identifiers>
        <balance>1564094</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2196369.05</valUSD>
        <pctVal>0.0882768821</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>Ascott Residence Trust</name>
        <lei>549300W6RTG7Y32IWY65</lei>
        <title>Ascott Residence Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y0261Y102</cusip>
        <identifiers>
          <isin value="SG1T08929278"/>
          <ticker value="A68U"/>
        </identifiers>
        <balance>1477660</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1461234.84</valUSD>
        <pctVal>0.0587302283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Segro Plc</name>
        <lei>213800XC35KGM9NFC641</lei>
        <title>Segro Plc ORD GBP0.10</title>
        <cusip>G80277141</cusip>
        <identifiers>
          <isin value="GB00B5ZN1N88"/>
          <ticker value="SGRO"/>
        </identifiers>
        <balance>1337829</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>15969420.6</valUSD>
        <pctVal>0.6418459867</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>Attacq Limited</name>
        <lei>N/A</lei>
        <title>Attacq Limited NPV</title>
        <cusip>S1244P108</cusip>
        <identifiers>
          <isin value="ZAE000177218"/>
          <ticker value="ATT"/>
        </identifiers>
        <balance>749942</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>665193.26</valUSD>
        <pctVal>0.0267355739</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>U City Public Company Limited</name>
        <lei>N/A</lei>
        <title>U City Public Company Limited THB3.20 (NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0329010R11"/>
          <ticker value="U-R"/>
        </identifiers>
        <balance>3966400</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>225741.22</valUSD>
        <pctVal>0.0090730340</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>Nippon Prologis Reit Inc</name>
        <lei>353800PHBMSDLAFURY41</lei>
        <title>Nippon Prologis Reit Inc REIT</title>
        <cusip>J5528H104</cusip>
        <identifiers>
          <isin value="JP3047550003"/>
          <ticker value="3283"/>
        </identifiers>
        <balance>2445</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>6228773.35</valUSD>
        <pctVal>0.2503480419</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>PSP Swiss Property AG</name>
        <lei>50670042Y437P8X44F56</lei>
        <title>PSP Swiss Property AG CHF0.10 (REGD)</title>
        <cusip>H64687124</cusip>
        <identifiers>
          <isin value="CH0018294154"/>
          <ticker value="PSPN"/>
        </identifiers>
        <balance>50713</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".9678"/>
        <valUSD>7003569.93</valUSD>
        <pctVal>0.2814888132</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>Agree Realty Corp</name>
        <lei>N/A</lei>
        <title>Agree Realty Corp COM</title>
        <cusip>008492100</cusip>
        <identifiers>
          <isin value="US0084921008"/>
          <ticker value="ADC"/>
        </identifiers>
        <balance>51419</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3608071.23</valUSD>
        <pctVal>0.1450162844</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>Icade SA</name>
        <lei>969500UDH342QLTE1M42</lei>
        <title>Icade SA NPV</title>
        <cusip>F4931M119</cusip>
        <identifiers>
          <isin value="FR0000035081"/>
          <ticker value="ICAD"/>
        </identifiers>
        <balance>36510</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3980258.03</valUSD>
        <pctVal>0.1599752869</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>One Liberty Properties, Inc.</name>
        <lei>549300QII1CQZGZBZR14</lei>
        <title>One Liberty Properties, Inc. COM</title>
        <cusip>682406103</cusip>
        <identifiers>
          <isin value="US6824061039"/>
          <ticker value="OLP"/>
        </identifiers>
        <balance>17101</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>464976.19</valUSD>
        <pctVal>0.0186884114</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>Vonovia SE</name>
        <lei>5299005A2ZEP6AP7KM81</lei>
        <title>Vonovia SE NPV</title>
        <cusip>D9581T100</cusip>
        <identifiers>
          <isin value="DE000A1ML7J1"/>
          <ticker value="VNA"/>
        </identifiers>
        <balance>630788</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>33959173.55</valUSD>
        <pctVal>1.3648935551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GDI Property Group</name>
        <lei>N/A</lei>
        <title>GDI Property Group NPV(STAPLED UNITS)</title>
        <cusip>Q3R72G104</cusip>
        <identifiers>
          <isin value="AU000000GDI7"/>
          <ticker value="GDI"/>
        </identifiers>
        <balance>571749</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>592096.66</valUSD>
        <pctVal>0.0237976614</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>Regency Centers</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>Regency Centers COM</title>
        <cusip>758849103</cusip>
        <identifiers>
          <isin value="US7588491032"/>
          <ticker value="REG"/>
        </identifiers>
        <balance>205038</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12935847.42</valUSD>
        <pctVal>0.5199200371</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>Hufvudstaden Ab</name>
        <lei>213800UEV5ZAFFVQ4J85</lei>
        <title>Hufvudstaden Ab SER'A'NPV</title>
        <cusip>W30061126</cusip>
        <identifiers>
          <isin value="SE0000170375"/>
          <ticker value="HUFV A"/>
        </identifiers>
        <balance>136930</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>2707100.76</valUSD>
        <pctVal>0.1088043081</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>Medical Prop Tst</name>
        <lei>254900U6E39J1MQCCY14</lei>
        <title>Medical Prop Tst COM</title>
        <cusip>58463J304</cusip>
        <identifiers>
          <isin value="US58463J3041"/>
          <ticker value="MPW"/>
        </identifiers>
        <balance>624123</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13175236.53</valUSD>
        <pctVal>0.5295416097</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>Gladstone Commercial Corporation</name>
        <lei>529900EVVV534W8R0T32</lei>
        <title>Gladstone Commercial Corporation COM</title>
        <cusip>376536108</cusip>
        <identifiers>
          <isin value="US3765361080"/>
          <ticker value="GOOD"/>
        </identifiers>
        <balance>38801</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>848189.86</valUSD>
        <pctVal>0.0340906080</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>Monmouth Real Estate Investment Corporation</name>
        <lei>549300DFIUDCN3KVN260</lei>
        <title>Monmouth Real Estate Investment Corporation CL A</title>
        <cusip>609720107</cusip>
        <identifiers>
          <isin value="US6097201072"/>
          <ticker value="MNR"/>
        </identifiers>
        <balance>111837</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1619399.76</valUSD>
        <pctVal>0.0650872228</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>OUE Commercial Reit</name>
        <lei>549300ZH7I6OTTYIPE70</lei>
        <title>OUE Commercial Reit UNITS</title>
        <cusip>Y6561G105</cusip>
        <identifiers>
          <isin value="SG2G60000004"/>
          <ticker value="TS0U"/>
        </identifiers>
        <balance>2675500</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1123996.77</valUSD>
        <pctVal>0.0451758917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Enterprise Company Limited</name>
        <lei>N/A</lei>
        <title>China Enterprise Company Limited 'A'CNY 1</title>
        <cusip>Y1420S101</cusip>
        <identifiers>
          <isin value="CNE000000B42"/>
          <ticker value="CHENTE"/>
        </identifiers>
        <balance>290400</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>193912.76</valUSD>
        <pctVal>0.0077937785</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>Sunshine City Group Co., Ltd</name>
        <lei>N/A</lei>
        <title>Sunshine City Group Co., Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000206"/>
          <ticker value="000671"/>
        </identifiers>
        <balance>285900</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>349008.08</valUSD>
        <pctVal>0.0140273991</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>C&amp;D International Investment Group Limited</name>
        <lei>N/A</lei>
        <title>C&amp;D International Investment Group Limited HKD0.1</title>
        <cusip>G3165D109</cusip>
        <identifiers>
          <isin value="KYG3165D1097"/>
          <ticker value="1908"/>
        </identifiers>
        <balance>270000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>312798.08</valUSD>
        <pctVal>0.0125720399</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>DAR Al Arkan Real</name>
        <lei>558600USX20EGH6LVQ89</lei>
        <title>DAR Al Arkan Real SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA11U0S23612"/>
          <ticker value="4300"/>
        </identifiers>
        <balance>650851</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>1910081.56</valUSD>
        <pctVal>0.0767703609</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>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>29552127.99</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29552127.99</valUSD>
        <pctVal>1.1877647427</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>Centuria Metropolitan REIT</name>
        <lei>N/A</lei>
        <title>Centuria Metropolitan REIT NPV</title>
        <cusip>Q2227V122</cusip>
        <identifiers>
          <isin value="AU000000CMA4"/>
          <ticker value="CMA"/>
        </identifiers>
        <balance>471104</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>959064.66</valUSD>
        <pctVal>0.0385469090</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>Sagax AB</name>
        <lei>549300LJX28T6OM8DT95</lei>
        <title>Sagax AB SER'D'NPV</title>
        <cusip>W7519A226</cusip>
        <identifiers>
          <isin value="SE0009161052"/>
          <ticker value="SAGA D"/>
        </identifiers>
        <balance>104800</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>406797.89</valUSD>
        <pctVal>0.0163500981</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>Nyfosa Ab</name>
        <lei>5493000YR2B83SILCJ50</lei>
        <title>Nyfosa Ab NPV</title>
        <cusip>W6S88K102</cusip>
        <identifiers>
          <isin value="SE0011426428"/>
          <ticker value="NYF"/>
        </identifiers>
        <balance>206358</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>1784770.64</valUSD>
        <pctVal>0.0717338406</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>Takara Leben Real Estate Investment Corporation</name>
        <lei>353800B55299YP0HS329</lei>
        <title>Takara Leben Real Estate Investment Corporation REIT</title>
        <cusip>J80746100</cusip>
        <identifiers>
          <isin value="JP3048750008"/>
          <ticker value="3492"/>
        </identifiers>
        <balance>520</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>604883.31</valUSD>
        <pctVal>0.0243115849</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>Samhallsbyggnadsbolaget I Norden Ab</name>
        <lei>549300HX9MRFY47AH564</lei>
        <title>Samhallsbyggnadsbolaget I Norden Ab SER'D'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0011844091"/>
          <ticker value="SBB D"/>
        </identifiers>
        <balance>90945</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>338358.48</valUSD>
        <pctVal>0.0135993683</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>Sasseur Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Sasseur Real Estate Investment Trust NPV (STAPLED UNITS)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1ED2000000"/>
          <ticker value="CRPU"/>
        </identifiers>
        <balance>495300</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>325995.03</valUSD>
        <pctVal>0.0131024542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RTS. BEIJING CAP. LAND</name>
        <lei>N/A</lei>
        <title>RTS. BEIJING CAP. LAND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="N/A"/>
        </identifiers>
        <balance>542000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>22257.87</valUSD>
        <pctVal>0.0008945925</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>Mehadrin</name>
        <lei>N/A</lei>
        <title>Mehadrin ORD ILS1</title>
        <cusip>M6899L100</cusip>
        <identifiers>
          <isin value="IL0006860147"/>
          <ticker value="MEDN"/>
        </identifiers>
        <balance>.32</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>12.77</valUSD>
        <pctVal>0.0000005133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rimo International Lestari</name>
        <lei>N/A</lei>
        <title>Rimo International Lestari LKD SHS (IDR250 &amp; IDR100)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ID1000062706"/>
          <ticker value="RIMO"/>
        </identifiers>
        <balance>42545100</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>152970.05</valUSD>
        <pctVal>0.0061482013</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>Beijing Capital Development Holding (Group) Co Ltd</name>
        <lei>N/A</lei>
        <title>Beijing Capital Development Holding (Group) Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000001782"/>
          <ticker value="BCDHGR"/>
        </identifiers>
        <balance>180700</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>206402.71</valUSD>
        <pctVal>0.0082957769</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>SITE CENTERS CORP</name>
        <lei>W2AVA6SODOQ1LCYJQR54</lei>
        <title>SITE CENTERS CORP COM</title>
        <cusip>82981J109</cusip>
        <identifiers>
          <isin value="US82981J1097"/>
          <ticker value="SITC"/>
        </identifiers>
        <balance>177519</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2488816.38</valUSD>
        <pctVal>0.1000309808</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>Apartment Investment and Management Company</name>
        <lei>549300O8FT5GJ4RU1D57</lei>
        <title>Apartment Investment and Management Company CL A</title>
        <cusip>03748R754</cusip>
        <identifiers>
          <isin value="US03748R7540"/>
          <ticker value="AIV"/>
        </identifiers>
        <balance>182200</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9410630</valUSD>
        <pctVal>0.3782338289</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>Prime US REIT</name>
        <lei>N/A</lei>
        <title>Prime US REIT NPV (REIT)</title>
        <cusip>Y475LA101</cusip>
        <identifiers>
          <isin value="SGXC75818630"/>
          <ticker value="OXMU"/>
        </identifiers>
        <balance>384500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>371012.44</valUSD>
        <pctVal>0.0149118025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saudi Real Estate</name>
        <lei>N/A</lei>
        <title>Saudi Real Estate SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA0007870047"/>
          <ticker value="4020"/>
        </identifiers>
        <balance>98766</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>359218.77</valUSD>
        <pctVal>0.0144377891</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>Arriyadh Dev Co</name>
        <lei>N/A</lei>
        <title>Arriyadh Dev Co SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA0007879683"/>
          <ticker value="4150"/>
        </identifiers>
        <balance>102064</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>408183.08</valUSD>
        <pctVal>0.0164057719</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>Emaar The Economic</name>
        <lei>N/A</lei>
        <title>Emaar The Economic SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA000A0KDVM8"/>
          <ticker value="4220"/>
        </identifiers>
        <balance>475767</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7513"/>
        <valUSD>1211063.21</valUSD>
        <pctVal>0.0486752826</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>Lxi Reit Plc</name>
        <lei>2138008YZGXOKAXQVI45</lei>
        <title>Lxi Reit Plc ORD GBP0.01</title>
        <cusip>G57009105</cusip>
        <identifiers>
          <isin value="GB00BYQ46T41"/>
          <ticker value="LXI"/>
        </identifiers>
        <balance>641808</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>1191438.33</valUSD>
        <pctVal>0.0478865157</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>Zhenro Properties Group Limited</name>
        <lei>549300I66TVJEL841P38</lei>
        <title>Zhenro Properties Group Limited USD0.00001</title>
        <cusip>G9897E109</cusip>
        <identifiers>
          <isin value="KYG9897E1098"/>
          <ticker value="6158"/>
        </identifiers>
        <balance>1907000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1371443.19</valUSD>
        <pctVal>0.0551213052</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>Dafa Properties Group Ltd</name>
        <lei>549300FG5PBBG2FX4L24</lei>
        <title>Dafa Properties Group Ltd HKD0.001</title>
        <cusip>G26168107</cusip>
        <identifiers>
          <isin value="KYG261681079"/>
          <ticker value="6111"/>
        </identifiers>
        <balance>293000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>207701.75</valUSD>
        <pctVal>0.0083479882</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>China Aoyuan Group Ltd</name>
        <lei>549300YSOKQO5QD6MP25</lei>
        <title>China Aoyuan Group Ltd HKD0.01</title>
        <cusip>G2119Z109</cusip>
        <identifiers>
          <isin value="KYG2119Z1090"/>
          <ticker value="3883"/>
        </identifiers>
        <balance>1486000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2428668.05</valUSD>
        <pctVal>0.0976134877</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>ALTUS SAN NICOLAS CORP</name>
        <lei>N/A</lei>
        <title>ALTUS SAN NICOLAS CORP PHP1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="N/A"/>
        </identifiers>
        <balance>45757</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>4692.56</valUSD>
        <pctVal>0.0001886043</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>FIRST CAP REAL ESTATE INVT TR</name>
        <lei>549300U55W8QFK2YTK38</lei>
        <title>FIRST CAP REAL ESTATE INVT TR UNIT</title>
        <cusip>31890B103</cusip>
        <identifiers>
          <isin value="CA31890B1031"/>
          <ticker value="FCR.UN"/>
        </identifiers>
        <balance>131387</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>2091386</valUSD>
        <pctVal>0.0840573834</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>STAR ASIA INVESTOMENT CORPORATION</name>
        <lei>N/A</lei>
        <title>STAR ASIA INVESTOMENT CORPORATION REIT</title>
        <cusip>J76639103</cusip>
        <identifiers>
          <isin value="JP3048200004"/>
          <ticker value="3468"/>
        </identifiers>
        <balance>412</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>443249.36</valUSD>
        <pctVal>0.0178151625</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>Grandjoy Holdings Group Co Ltd</name>
        <lei>N/A</lei>
        <title>Grandjoy Holdings Group Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000BJ5"/>
          <ticker value="000031"/>
        </identifiers>
        <balance>231400</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>238725.83</valUSD>
        <pctVal>0.0095949139</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>STOR-AGE PROPERTY REIT LIMITED</name>
        <lei>N/A</lei>
        <title>STOR-AGE PROPERTY REIT LIMITED NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ZAE000208963"/>
          <ticker value="SSS"/>
        </identifiers>
        <balance>418863</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>441950.11</valUSD>
        <pctVal>0.0177629428</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>Sichuan Languang Development Co Ltd</name>
        <lei>N/A</lei>
        <title>Sichuan Languang Development Co Ltd 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE0000017B4"/>
          <ticker value="LGUANG"/>
        </identifiers>
        <balance>212200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>224590.28</valUSD>
        <pctVal>0.0090267752</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>Immofinanz AG</name>
        <lei>5299000DUMZ99SBBX121</lei>
        <title>Immofinanz AG NPV (POST SPLIT)</title>
        <cusip>A27849339</cusip>
        <identifiers>
          <isin value="AT0000A21KS2"/>
          <ticker value="IIA"/>
        </identifiers>
        <balance>110400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>2957417.71</valUSD>
        <pctVal>0.1188650945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H&amp;R Real Estate Investment Trust</name>
        <lei>549300TGNP6B6GUVGW10</lei>
        <title>H&amp;R Real Estate Investment Trust UNIT NEW</title>
        <cusip>403925407</cusip>
        <identifiers>
          <isin value="CA4039254079"/>
          <ticker value="HR.UN"/>
        </identifiers>
        <balance>173039</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>2811692.2</valUSD>
        <pctVal>0.1130080671</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>Spirit Realty Cap Inc New</name>
        <lei>549300LTU6LVPZSHMJ25</lei>
        <title>Spirit Realty Cap Inc New COM NEW</title>
        <cusip>84860W300</cusip>
        <identifiers>
          <isin value="US84860W3007"/>
          <ticker value="SRC"/>
        </identifiers>
        <balance>110249</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5422045.82</valUSD>
        <pctVal>0.2179238957</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>Citycon Oyj</name>
        <lei>549300P8N0P6KDGTJ206</lei>
        <title>Citycon Oyj NPV</title>
        <cusip>X1422T280</cusip>
        <identifiers>
          <isin value="FI4000369947"/>
          <ticker value="CTY1S"/>
        </identifiers>
        <balance>85059</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>893389.74</valUSD>
        <pctVal>0.0359072902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dexin China Holdings Company Limited</name>
        <lei>549300U94QGMEBM0QD46</lei>
        <title>Dexin China Holdings Company Limited USD0.0005</title>
        <cusip>G2751H102</cusip>
        <identifiers>
          <isin value="KYG2751H1020"/>
          <ticker value="2019"/>
        </identifiers>
        <balance>777000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>317727.93</valUSD>
        <pctVal>0.0127701813</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>Safestore Holdings Plc</name>
        <lei>213800WGA3YSJC1YOH73</lei>
        <title>Safestore Holdings Plc ORD GBP0.01</title>
        <cusip>G77733106</cusip>
        <identifiers>
          <isin value="GB00B1N7Z094"/>
          <ticker value="SAFE"/>
        </identifiers>
        <balance>258260</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>2758645.02</valUSD>
        <pctVal>0.1108759847</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>Preferred Apartment Communities, Inc.</name>
        <lei>549300KTZLVOW5TLLN89</lei>
        <title>Preferred Apartment Communities, Inc. COM</title>
        <cusip>74039L103</cusip>
        <identifiers>
          <isin value="US74039L1035"/>
          <ticker value="APTS"/>
        </identifiers>
        <balance>52586</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>700445.52</valUSD>
        <pctVal>0.0281524394</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>Ingenia Communities Group</name>
        <lei>N/A</lei>
        <title>Ingenia Communities Group NPV (UNITS)</title>
        <cusip>Q4912D185</cusip>
        <identifiers>
          <isin value="AU000000INA9"/>
          <ticker value="INA"/>
        </identifiers>
        <balance>281572</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>981314.55</valUSD>
        <pctVal>0.0394411808</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>Emaar Malls PJSC</name>
        <lei>N/A</lei>
        <title>Emaar Malls PJSC AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AEE001501015"/>
          <ticker value="EMAARMALLS"/>
        </identifiers>
        <balance>3223174</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>1604937.48</valUSD>
        <pctVal>0.0645059521</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>Apple Hospitality Reit Inc</name>
        <lei>549300EVZAR0FBZO4F16</lei>
        <title>Apple Hospitality Reit Inc COM NEW</title>
        <cusip>03784Y200</cusip>
        <identifiers>
          <isin value="US03784Y2000"/>
          <ticker value="APLE"/>
        </identifiers>
        <balance>260648</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4235530</valUSD>
        <pctVal>0.1702352265</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>Sirius Real Estate</name>
        <lei>213800NURUF5W8QSK566</lei>
        <title>Sirius Real Estate ORD NPV</title>
        <cusip>G8187C104</cusip>
        <identifiers>
          <isin value="GG00B1W3VF54"/>
          <ticker value="SRE"/>
        </identifiers>
        <balance>1153444</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>1356837</valUSD>
        <pctVal>0.0545342505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equites Property Fund Limited</name>
        <lei>N/A</lei>
        <title>Equites Property Fund Limited NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ZAE000188843"/>
          <ticker value="EQU"/>
        </identifiers>
        <balance>547498</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>782363.93</valUSD>
        <pctVal>0.0314449197</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>Deyaar Development</name>
        <lei>N/A</lei>
        <title>Deyaar Development AED1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AED001001018"/>
          <ticker value="DEYAAR"/>
        </identifiers>
        <balance>1760335</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>179794.49</valUSD>
        <pctVal>0.0072263343</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>Pebblebrook Hotel Trust</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>Pebblebrook Hotel Trust COM</title>
        <cusip>70509V100</cusip>
        <identifiers>
          <isin value="US70509V1008"/>
          <ticker value="PEB"/>
        </identifiers>
        <balance>160419</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4300833.39</valUSD>
        <pctVal>0.1728599127</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>Cache Logistics Tr</name>
        <lei>529900J4YL3CYGKS5I45</lei>
        <title>Cache Logistics Tr NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y1072M105</cusip>
        <identifiers>
          <isin value="SG1Z70955880"/>
          <ticker value="K2LU"/>
        </identifiers>
        <balance>1142500</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>607519.65</valUSD>
        <pctVal>0.0244175452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chatham Lodging Tr</name>
        <lei>N/A</lei>
        <title>Chatham Lodging Tr COM</title>
        <cusip>16208T102</cusip>
        <identifiers>
          <isin value="US16208T1025"/>
          <ticker value="CLDT"/>
        </identifiers>
        <balance>58347</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1070083.98</valUSD>
        <pctVal>0.0430090186</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>Mapletree Industri</name>
        <lei>549300R7WZFHXNKDJF41</lei>
        <title>Mapletree Industri NPV (REIT)</title>
        <cusip>Y5759S103</cusip>
        <identifiers>
          <isin value="SG2C32962814"/>
          <ticker value="ME8U"/>
        </identifiers>
        <balance>1740936</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>3366681.18</valUSD>
        <pctVal>0.1353142896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mapletree Commercial Trust Treasury Company Pte Ltd</name>
        <lei>549300BF18K4IC5LZ208</lei>
        <title>Mapletree Commercial Trust Treasury Company Pte Ltd NPV(REAL ESTATE INVESTMENT TRUSTS)REG S</title>
        <cusip>Y5759T101</cusip>
        <identifiers>
          <isin value="SG2D18969584"/>
          <ticker value="N2IU"/>
        </identifiers>
        <balance>2472054</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>4393384.59</valUSD>
        <pctVal>0.1765797481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>One Reit Inc</name>
        <lei>N/A</lei>
        <title>One Reit Inc REIT</title>
        <cusip>J75499103</cusip>
        <identifiers>
          <isin value="JP3047640002"/>
          <ticker value="3290"/>
        </identifiers>
        <balance>267</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>879748.37</valUSD>
        <pctVal>0.0353590136</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>Frasers Hospitality Trust</name>
        <lei>N/A</lei>
        <title>Frasers Hospitality Trust NPV STAPLED UNITS (REIT)</title>
        <cusip>Y2645Q102</cusip>
        <identifiers>
          <isin value="SG1AA5000001"/>
          <ticker value="ACV"/>
        </identifiers>
        <balance>893200</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>471533.6</valUSD>
        <pctVal>0.0189519680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Universal Hlth Rlt</name>
        <lei>549300L4MWZL4IH6H172</lei>
        <title>Universal Hlth Rlt SH BEN INT</title>
        <cusip>91359E105</cusip>
        <identifiers>
          <isin value="US91359E1055"/>
          <ticker value="UHT"/>
        </identifiers>
        <balance>16066</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1885505.76</valUSD>
        <pctVal>0.0757826057</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>Simon Property Group Inc</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>Simon Property Group Inc COM</title>
        <cusip>828806109</cusip>
        <identifiers>
          <isin value="US8288061091"/>
          <ticker value="SPG"/>
        </identifiers>
        <balance>377018</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56160601.28</valUSD>
        <pctVal>2.2572175564</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>Sun Communities, Inc.</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>Sun Communities, Inc. COM</title>
        <cusip>866674104</cusip>
        <identifiers>
          <isin value="US8666741041"/>
          <ticker value="SUI"/>
        </identifiers>
        <balance>110915</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16648341.5</valUSD>
        <pctVal>0.6691333045</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>Ventas Inc.</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>Ventas Inc. COM</title>
        <cusip>92276F100</cusip>
        <identifiers>
          <isin value="US92276F1003"/>
          <ticker value="VTR"/>
        </identifiers>
        <balance>456091</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26334694.34</valUSD>
        <pctVal>1.0584490382</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>Vornado Realty Trust</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust SH BEN INT</title>
        <cusip>929042109</cusip>
        <identifiers>
          <isin value="US9290421091"/>
          <ticker value="VNO"/>
        </identifiers>
        <balance>210328</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13986812</valUSD>
        <pctVal>0.5621606052</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>CDN Apartment Prop</name>
        <lei>549300B1MYVTQEB2DI90</lei>
        <title>CDN Apartment Prop TR UNIT</title>
        <cusip>134921105</cusip>
        <identifiers>
          <isin value="CA1349211054"/>
          <ticker value="CAR.UN"/>
        </identifiers>
        <balance>101897</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>4159685.78</valUSD>
        <pctVal>0.1671868812</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>Cominar Real Estate Investment Trust</name>
        <lei>549300UPHCRPB5SL8E15</lei>
        <title>Cominar Real Estate Investment Trust UNITS</title>
        <cusip>199910100</cusip>
        <identifiers>
          <isin value="CA1999101001"/>
          <ticker value="CUF.UN"/>
        </identifiers>
        <balance>106486</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>1161173.43</valUSD>
        <pctVal>0.0466701031</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>BAYSIDE LAND CORPORATION</name>
        <lei>N/A</lei>
        <title>BAYSIDE LAND CORPORATION ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0007590198"/>
          <ticker value="BYSD"/>
        </identifiers>
        <balance>1328</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>1020833.72</valUSD>
        <pctVal>0.0410295428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Corporacion Inmobiliaria Vesta SAB</name>
        <lei>4469000001BIRIFZJ959</lei>
        <title>Corporacion Inmobiliaria Vesta SAB COM NPV</title>
        <cusip>P9781N108</cusip>
        <identifiers>
          <isin value="MX01VE0M0003"/>
          <ticker value="VESTA *"/>
        </identifiers>
        <balance>719600</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>1298572.1</valUSD>
        <pctVal>0.0521924566</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>Leg Immobilien AG</name>
        <lei>391200SO40AKONBO0Z96</lei>
        <title>Leg Immobilien AG NPV</title>
        <cusip>D4960A103</cusip>
        <identifiers>
          <isin value="DE000LEG1110"/>
          <ticker value="LEG"/>
        </identifiers>
        <balance>77498</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>9178685.74</valUSD>
        <pctVal>0.3689114811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rexford Industrial Realty, Inc.</name>
        <lei>549300MSLO0DF0EMX355</lei>
        <title>Rexford Industrial Realty, Inc. COM</title>
        <cusip>76169C100</cusip>
        <identifiers>
          <isin value="US76169C1009"/>
          <ticker value="REXR"/>
        </identifiers>
        <balance>134135</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6125945.45</valUSD>
        <pctVal>0.2462151634</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>WPT Indl Real Estate Invt Tr</name>
        <lei>N/A</lei>
        <title>WPT Indl Real Estate Invt Tr TR UNIT</title>
        <cusip>92937G109</cusip>
        <identifiers>
          <isin value="CA92937G1090"/>
          <ticker value="WIR.U"/>
        </identifiers>
        <balance>36064</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>497322.56</valUSD>
        <pctVal>0.0199884828</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>Braemar Hotels &amp; Resorts Inc</name>
        <lei>549300JDUUEBN868C776</lei>
        <title>Braemar Hotels &amp; Resorts Inc COM</title>
        <cusip>10482B101</cusip>
        <identifiers>
          <isin value="US10482B1017"/>
          <ticker value="BHR"/>
        </identifiers>
        <balance>32981</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>294520.33</valUSD>
        <pctVal>0.0118374171</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>Urstadt Biddle Properties Inc.</name>
        <lei>549300XXD0YL0AER3Z82</lei>
        <title>Urstadt Biddle Properties Inc. CL A</title>
        <cusip>917286205</cusip>
        <identifiers>
          <isin value="US9172862057"/>
          <ticker value="UBA"/>
        </identifiers>
        <balance>37111</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>921837.24</valUSD>
        <pctVal>0.0370506575</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>Cedar Realty Trust Inc</name>
        <lei>54930056URX93R2RSN82</lei>
        <title>Cedar Realty Trust Inc COM NEW</title>
        <cusip>150602209</cusip>
        <identifiers>
          <isin value="US1506022094"/>
          <ticker value="CDR"/>
        </identifiers>
        <balance>105976</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>312629.2</valUSD>
        <pctVal>0.0125652522</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>Digital Realty Trust Inc</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust Inc COM</title>
        <cusip>253868103</cusip>
        <identifiers>
          <isin value="US2538681030"/>
          <ticker value="DLR"/>
        </identifiers>
        <balance>255011</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30535017.14</valUSD>
        <pctVal>1.2272692101</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>Central China Real Estate Limited</name>
        <lei>549300JDML9PYG0CIJ22</lei>
        <title>Central China Real Estate Limited HKD0.10</title>
        <cusip>G20768100</cusip>
        <identifiers>
          <isin value="KYG207681001"/>
          <ticker value="832"/>
        </identifiers>
        <balance>953000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>556788.79</valUSD>
        <pctVal>0.0223785608</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>BGP HOLDINGS PLC</name>
        <lei>N/A</lei>
        <title>BGP HOLDINGS PLC BENEFICIAL INTEREST SHS NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU00573958S3"/>
        </identifiers>
        <balance>6535576</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>.08</valUSD>
        <pctVal>0.0000000032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>MT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sunac China Holdings Limited</name>
        <lei>549300OLARYHDXP3WK18</lei>
        <title>Sunac China Holdings Limited HKD0.10</title>
        <cusip>G8569A106</cusip>
        <identifiers>
          <isin value="KYG8569A1067"/>
          <ticker value="1918"/>
        </identifiers>
        <balance>2991050</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>17924678.06</valUSD>
        <pctVal>0.7204320660</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>Matrix Concepts Holdings Berhad</name>
        <lei>N/A</lei>
        <title>Matrix Concepts Holdings Berhad MYR1</title>
        <cusip>Y5840A103</cusip>
        <identifiers>
          <isin value="MYL5236OO004"/>
          <ticker value="MATRIX"/>
        </identifiers>
        <balance>489600</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>228693.05</valUSD>
        <pctVal>0.0091916745</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>Prologis Inc.</name>
        <lei>529900DFH19P073LZ636</lei>
        <title>Prologis Inc. COM</title>
        <cusip>74340W103</cusip>
        <identifiers>
          <isin value="US74340W1036"/>
          <ticker value="PLD"/>
        </identifiers>
        <balance>772348</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68847100.72</valUSD>
        <pctVal>2.7671157522</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>Soilbuild Business Space REIT</name>
        <lei>5493003FPG03GD7G5377</lei>
        <title>Soilbuild Business Space REIT NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y806D3102</cusip>
        <identifiers>
          <isin value="SG2G07995670"/>
          <ticker value="SV3U"/>
        </identifiers>
        <balance>1045480</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>404141.91</valUSD>
        <pctVal>0.0162433484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CT Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>CT Real Estate Investment Trust UNIT</title>
        <cusip>126462100</cusip>
        <identifiers>
          <isin value="CA1264621006"/>
          <ticker value="CRT.UN"/>
        </identifiers>
        <balance>59789</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>743132.31</valUSD>
        <pctVal>0.0298681150</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>Montea CVA</name>
        <lei>5493006K5LQDD0GK1T60</lei>
        <title>Montea CVA NPV</title>
        <cusip>B6214F103</cusip>
        <identifiers>
          <isin value="BE0003853703"/>
          <ticker value="MONT"/>
        </identifiers>
        <balance>13657</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1241265.59</valUSD>
        <pctVal>0.0498891824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EASTERLY GOVERNMENT PROPERTIES INC</name>
        <lei>549300ERMCEFC6S8HL77</lei>
        <title>EASTERLY GOVERNMENT PROPERTIES INC COM</title>
        <cusip>27616P103</cusip>
        <identifiers>
          <isin value="US27616P1030"/>
          <ticker value="DEA"/>
        </identifiers>
        <balance>87008</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2064699.84</valUSD>
        <pctVal>0.0829848082</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>Intershop Hldg Ag</name>
        <lei>506700CGX4K77JX3R725</lei>
        <title>Intershop Hldg Ag CHF10(REG)</title>
        <cusip>H42507261</cusip>
        <identifiers>
          <isin value="CH0273774791"/>
          <ticker value="ISN"/>
        </identifiers>
        <balance>1437</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".9678"/>
        <valUSD>841753.93</valUSD>
        <pctVal>0.0338319339</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>WELLTOWER INC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>WELLTOWER INC COM</title>
        <cusip>95040Q104</cusip>
        <identifiers>
          <isin value="US95040Q1040"/>
          <ticker value="WELL"/>
        </identifiers>
        <balance>495955</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40559199.9</valUSD>
        <pctVal>1.6301630681</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>China Evergrande Group</name>
        <lei>549300CUF7B1LAB15T90</lei>
        <title>China Evergrande Group USD0.01</title>
        <cusip>G2119W106</cusip>
        <identifiers>
          <isin value="KYG2119W1069"/>
          <ticker value="3333"/>
        </identifiers>
        <balance>2254000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>6270931.78</valUSD>
        <pctVal>0.2520424815</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>Aroundtown SA</name>
        <lei>529900H4DWG3KWMBMQ39</lei>
        <title>Aroundtown SA EUR0.01</title>
        <cusip>L0269F109</cusip>
        <identifiers>
          <isin value="LU1673108939"/>
          <ticker value="AT1"/>
        </identifiers>
        <balance>1125191</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>10076296.69</valUSD>
        <pctVal>0.4049884309</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>Fabege Ab</name>
        <lei>549300JNPI46XNH0PM97</lei>
        <title>Fabege Ab NPV</title>
        <cusip>W7888D199</cusip>
        <identifiers>
          <isin value="SE0011166974"/>
          <ticker value="FABG"/>
        </identifiers>
        <balance>324285</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>5393286.63</valUSD>
        <pctVal>0.2167680009</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>Swiss Prime Site AG</name>
        <lei>506700XI9H64OPR34158</lei>
        <title>Swiss Prime Site AG CHF15.30 (REGD)</title>
        <cusip>H8403W107</cusip>
        <identifiers>
          <isin value="CH0008038389"/>
          <ticker value="SPSN"/>
        </identifiers>
        <balance>93179</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".9678"/>
        <valUSD>10801717.46</valUSD>
        <pctVal>0.4341446803</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>Mercialys S.A.</name>
        <lei>969500081CGAXB7YS433</lei>
        <title>Mercialys S.A. EUR1</title>
        <cusip>F61573105</cusip>
        <identifiers>
          <isin value="FR0010241638"/>
          <ticker value="MERY"/>
        </identifiers>
        <balance>55036</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>762950.84</valUSD>
        <pctVal>0.0306646651</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>Crombie Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Crombie Real Estate Investment Trust UNIT</title>
        <cusip>227107109</cusip>
        <identifiers>
          <isin value="CA2271071094"/>
          <ticker value="CRR.UN"/>
        </identifiers>
        <balance>55741</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>684233.6</valUSD>
        <pctVal>0.0275008468</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>Deutsche Wohnen SE</name>
        <lei>529900QE24Q67I3FWZ10</lei>
        <title>Deutsche Wohnen SE NPV (BR)</title>
        <cusip>D2046U176</cusip>
        <identifiers>
          <isin value="DE000A0HN5C6"/>
          <ticker value="DWNI"/>
        </identifiers>
        <balance>440572</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>18004632.48</valUSD>
        <pctVal>0.7236456093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</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>3928709</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>6083966.65</valUSD>
        <pctVal>0.2445279435</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 Overseas Grand Oceans Group Limited</name>
        <lei>N/A</lei>
        <title>China Overseas Grand Oceans Group Limited NPV</title>
        <cusip>Y1505S117</cusip>
        <identifiers>
          <isin value="HK0000065737"/>
          <ticker value="81"/>
        </identifiers>
        <balance>1900500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1316299.62</valUSD>
        <pctVal>0.0529049644</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>Adler Real Estate</name>
        <lei>529900Y6QFNN3D363B76</lei>
        <title>Adler Real Estate NPV</title>
        <cusip>D0190J112</cusip>
        <identifiers>
          <isin value="DE0005008007"/>
          <ticker value="ADL"/>
        </identifiers>
        <balance>55369</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>854985.94</valUSD>
        <pctVal>0.0343637573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Vanke Co., Ltd.</name>
        <lei>529900E66UJ2DWY7KW55</lei>
        <title>China Vanke Co., Ltd. 'H'CNY1</title>
        <cusip>Y77421132</cusip>
        <identifiers>
          <isin value="CNE100001SR9"/>
          <ticker value="2202"/>
        </identifiers>
        <balance>1836941</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>7841642.36</valUSD>
        <pctVal>0.3151727795</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>Mirvac Group</name>
        <lei>N/A</lei>
        <title>Mirvac Group STAPLED SECURITIES</title>
        <cusip>Q62377108</cusip>
        <identifiers>
          <isin value="AU000000MGR9"/>
          <ticker value="MGR"/>
        </identifiers>
        <balance>4816780</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>10773089.12</valUSD>
        <pctVal>0.4329940447</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>BWP Trust</name>
        <lei>N/A</lei>
        <title>BWP Trust NPV</title>
        <cusip>Q1892D102</cusip>
        <identifiers>
          <isin value="AU000000BWP3"/>
          <ticker value="BWP"/>
        </identifiers>
        <balance>636552</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>1754107.04</valUSD>
        <pctVal>0.0705014034</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>Supalai Public Company Limited</name>
        <lei>N/A</lei>
        <title>Supalai Public Company Limited NON VTG DEP RCPT REP 1 ORD THB1</title>
        <cusip>Y8309K174</cusip>
        <identifiers>
          <isin value="TH0371010R13"/>
          <ticker value="SPALI-R"/>
        </identifiers>
        <balance>1639700</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>975938.64</valUSD>
        <pctVal>0.0392251112</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>Abacus Property Gr</name>
        <lei>2138009R3Y4TK4IZDW59</lei>
        <title>Abacus Property Gr NPV (STAPLED)</title>
        <cusip>Q0015N104</cusip>
        <identifiers>
          <isin value="AU000000ABP9"/>
          <ticker value="ABP"/>
        </identifiers>
        <balance>520104</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>1316389.24</valUSD>
        <pctVal>0.0529085664</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>Far East Consortium International Ltd</name>
        <lei>54930031259IQB0EH527</lei>
        <title>Far East Consortium International Ltd HKD0.10</title>
        <cusip>G3307Z109</cusip>
        <identifiers>
          <isin value="KYG3307Z1090"/>
          <ticker value="35"/>
        </identifiers>
        <balance>1369096</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>670552.92</valUSD>
        <pctVal>0.0269509904</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>Sansiri Public Company Limited</name>
        <lei>N/A</lei>
        <title>Sansiri Public Company Limited THB1.07(NON VOTING DEP RECEIPT REP 1ORD)</title>
        <cusip>Y7511B121</cusip>
        <identifiers>
          <isin value="TH0577010R15"/>
          <ticker value="SIRI-R"/>
        </identifiers>
        <balance>14947366</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>543342.55</valUSD>
        <pctVal>0.0218381270</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>LPN Development</name>
        <lei>N/A</lei>
        <title>LPN Development THB1(ALIEN MARKET)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0456010Z12"/>
          <ticker value="LPN-F"/>
        </identifiers>
        <balance>8475</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>1239.26</valUSD>
        <pctVal>0.0000498086</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>Hankyu Hanshin REIT Inc</name>
        <lei>N/A</lei>
        <title>Hankyu Hanshin REIT Inc REIT</title>
        <cusip>J19573104</cusip>
        <identifiers>
          <isin value="JP3046320002"/>
          <ticker value="8977"/>
        </identifiers>
        <balance>665</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1047018.46</valUSD>
        <pctVal>0.0420819649</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>Fukuoka Reit Corp</name>
        <lei>N/A</lei>
        <title>Fukuoka Reit Corp REIT</title>
        <cusip>J17128109</cusip>
        <identifiers>
          <isin value="JP3046240002"/>
          <ticker value="8968"/>
        </identifiers>
        <balance>836</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1424264.09</valUSD>
        <pctVal>0.0572442929</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>Heiwa Real Estate Reit Inc</name>
        <lei>N/A</lei>
        <title>Heiwa Real Estate Reit Inc REIT</title>
        <cusip>J09619107</cusip>
        <identifiers>
          <isin value="JP3046220004"/>
          <ticker value="8966"/>
        </identifiers>
        <balance>1065</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1330971.71</valUSD>
        <pctVal>0.0534946678</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>Link Real Estate Investment Trust</name>
        <lei>529900XUE70U36QX5M62</lei>
        <title>Link Real Estate Investment Trust UNITS</title>
        <cusip>Y5281M111</cusip>
        <identifiers>
          <isin value="HK0823032773"/>
          <ticker value="823"/>
        </identifiers>
        <balance>2577800</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>27367024.16</valUSD>
        <pctVal>1.0999406344</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>Yuexiu Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Yuexiu Real Estate Investment Trust NPV (REIT)</title>
        <cusip>Y9865D109</cusip>
        <identifiers>
          <isin value="HK0405033157"/>
          <ticker value="405"/>
        </identifiers>
        <balance>1937000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1312871.04</valUSD>
        <pctVal>0.0527671623</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>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>1695226</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2553677.73</valUSD>
        <pctVal>0.1026379005</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>Champion Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Champion Real Estate Investment Trust REIT</title>
        <cusip>Y1292D109</cusip>
        <identifiers>
          <isin value="HK2778034606"/>
          <ticker value="2778"/>
        </identifiers>
        <balance>2524846</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>1668883.29</valUSD>
        <pctVal>0.0670760743</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>Capitaland Retail China Trust</name>
        <lei>N/A</lei>
        <title>Capitaland Retail China Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y11234104</cusip>
        <identifiers>
          <isin value="SG1U25933169"/>
          <ticker value="AU8U"/>
        </identifiers>
        <balance>885824</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1060302.61</valUSD>
        <pctVal>0.0426158839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Filinvest Land Inc</name>
        <lei>N/A</lei>
        <title>Filinvest Land Inc PHP1.00</title>
        <cusip>Y24916101</cusip>
        <identifiers>
          <isin value="PHY249161019"/>
          <ticker value="FLI"/>
        </identifiers>
        <balance>11879989</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>350997.55</valUSD>
        <pctVal>0.0141073602</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>Iguatemi Empresa de Shopping Centers S.A.</name>
        <lei>N/A</lei>
        <title>Iguatemi Empresa de Shopping Centers S.A. COM NPV</title>
        <cusip>P5352J104</cusip>
        <identifiers>
          <isin value="BRIGTAACNOR5"/>
          <ticker value="IGTA3"/>
        </identifiers>
        <balance>109703</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>1444020.15</valUSD>
        <pctVal>0.0580383322</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>alstria office REIT-AG</name>
        <lei>529900QIJIGPI0DRL085</lei>
        <title>alstria office REIT-AG NPV (BR)</title>
        <cusip>D0378R100</cusip>
        <identifiers>
          <isin value="DE000A0LD2U1"/>
          <ticker value="AOX"/>
        </identifiers>
        <balance>185067</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3478031.02</valUSD>
        <pctVal>0.1397896835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jhsf Participacoes</name>
        <lei>N/A</lei>
        <title>Jhsf Participacoes COM NPV</title>
        <cusip>P6050T105</cusip>
        <identifiers>
          <isin value="BRJHSFACNOR2"/>
          <ticker value="JHSF3"/>
        </identifiers>
        <balance>300863</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0227"/>
        <valUSD>534023.53</valUSD>
        <pctVal>0.0214635752</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>Heliopolis Housing</name>
        <lei>N/A</lei>
        <title>Heliopolis Housing EGP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EGS65591C017"/>
          <ticker value="HELI"/>
        </identifiers>
        <balance>147893</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.05"/>
        <valUSD>217646.89</valUSD>
        <pctVal>0.0087477052</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>Prince Housing and Development Corporation</name>
        <lei>N/A</lei>
        <title>Prince Housing and Development Corporation TWD10</title>
        <cusip>Y7080J109</cusip>
        <identifiers>
          <isin value="TW0002511003"/>
          <ticker value="2511"/>
        </identifiers>
        <balance>1235000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>463513.71</valUSD>
        <pctVal>0.0186296311</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>Robinsons Land Corporation Rlc</name>
        <lei>N/A</lei>
        <title>Robinsons Land Corporation Rlc PHP1</title>
        <cusip>Y73196126</cusip>
        <identifiers>
          <isin value="PHY731961264"/>
          <ticker value="RLC"/>
        </identifiers>
        <balance>2590396</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>1409510.88</valUSD>
        <pctVal>0.0566513291</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>Sino Land Co Ltd</name>
        <lei>529900G5P51053HJVZ92</lei>
        <title>Sino Land Co Ltd NPV</title>
        <cusip>Y80267126</cusip>
        <identifiers>
          <isin value="HK0083000502"/>
          <ticker value="83"/>
        </identifiers>
        <balance>3766475</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>5487738.42</valUSD>
        <pctVal>0.2205642252</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>Vista Land &amp; Lifescapes, Inc.</name>
        <lei>N/A</lei>
        <title>Vista Land &amp; Lifescapes, Inc. PHP1</title>
        <cusip>Y9382G106</cusip>
        <identifiers>
          <isin value="PHY9382G1068"/>
          <ticker value="VLL"/>
        </identifiers>
        <balance>4494200</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>686703.57</valUSD>
        <pctVal>0.0276001203</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>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>12402853</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>10287198.58</valUSD>
        <pctVal>0.4134650398</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>Samty Co. Ltd.</name>
        <lei>N/A</lei>
        <title>Samty Co. Ltd. NPV</title>
        <cusip>J6779P100</cusip>
        <identifiers>
          <isin value="JP3322970009"/>
          <ticker value="3244"/>
        </identifiers>
        <balance>31700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>652000.69</valUSD>
        <pctVal>0.0262053356</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>China Jinmao Holdings Group Limited</name>
        <lei>3003000CW9WBO3PJ7R66</lei>
        <title>China Jinmao Holdings Group Limited NPV</title>
        <cusip>Y1500V107</cusip>
        <identifiers>
          <isin value="HK0817039453"/>
          <ticker value="817"/>
        </identifiers>
        <balance>6492000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>5062243.03</valUSD>
        <pctVal>0.2034626336</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>UOL Group Limited</name>
        <lei>254900O9PRCWTMR86R25</lei>
        <title>UOL Group Limited NPV</title>
        <cusip>Y9299W103</cusip>
        <identifiers>
          <isin value="SG1S83002349"/>
          <ticker value="U14"/>
        </identifiers>
        <balance>571897</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>3541967.47</valUSD>
        <pctVal>0.1423594295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Assets Tr</name>
        <lei>N/A</lei>
        <title>American Assets Tr COM</title>
        <cusip>024013104</cusip>
        <identifiers>
          <isin value="US0240131047"/>
          <ticker value="AAT"/>
        </identifiers>
        <balance>62413</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2864756.7</valUSD>
        <pctVal>0.1151408456</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>Frasers Commercial Trust</name>
        <lei>549300V2Y9SWB50TML22</lei>
        <title>Frasers Commercial Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y2643G122</cusip>
        <identifiers>
          <isin value="SG2C81967185"/>
          <ticker value="ND8U"/>
        </identifiers>
        <balance>841859</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1039171.77</valUSD>
        <pctVal>0.0417665892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Whitestone Reit</name>
        <lei>N/A</lei>
        <title>Whitestone Reit COM</title>
        <cusip>966084204</cusip>
        <identifiers>
          <isin value="US9660842041"/>
          <ticker value="WSR"/>
        </identifiers>
        <balance>42145</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>574014.9</valUSD>
        <pctVal>0.0230709159</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>Hibernia Reit Plc</name>
        <lei>635400MHRA4QVVFTON18</lei>
        <title>Hibernia Reit Plc ORD EUR0.10</title>
        <cusip>G4432Z105</cusip>
        <identifiers>
          <isin value="IE00BGHQ1986"/>
          <ticker value="HBRN"/>
        </identifiers>
        <balance>848473</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1344392.84</valUSD>
        <pctVal>0.0540340924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City Office REIT Inc</name>
        <lei>5493003J7157VP25NL57</lei>
        <title>City Office REIT Inc COM</title>
        <cusip>178587101</cusip>
        <identifiers>
          <isin value="US1785871013"/>
          <ticker value="CIO"/>
        </identifiers>
        <balance>67980</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>919089.6</valUSD>
        <pctVal>0.0369402238</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>Equity Comwlth Fra</name>
        <lei>N/A</lei>
        <title>Equity Comwlth Fra SHS</title>
        <cusip>CKE628105</cusip>
        <identifiers>
          <isin value="USCKE6281051"/>
          <ticker value="CWH US"/>
        </identifiers>
        <balance>75000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jinke Property Group Co.,Ltd.</name>
        <lei>30030085B069LMR8O660</lei>
        <title>Jinke Property Group Co.,Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000073"/>
          <ticker value="000656"/>
        </identifiers>
        <balance>377000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>416172.51</valUSD>
        <pctVal>0.0167268846</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>Industrial Logistics Properties Trust</name>
        <lei>5493004XH9PJW009HR47</lei>
        <title>Industrial Logistics Properties Trust COM SHS BEN INT</title>
        <cusip>456237106</cusip>
        <identifiers>
          <isin value="US4562371066"/>
          <ticker value="ILPT"/>
        </identifiers>
        <balance>80257</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1799361.94</valUSD>
        <pctVal>0.0723202969</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>Hammerson plc</name>
        <lei>213800G1C9KKVVDN1A60</lei>
        <title>Hammerson plc ORD GBP0.25</title>
        <cusip>G4273Q107</cusip>
        <identifiers>
          <isin value="GB0004065016"/>
          <ticker value="HMSO"/>
        </identifiers>
        <balance>940002</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>3875071.06</valUSD>
        <pctVal>0.1557475923</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>SC Asset Corporation Public Company Limited</name>
        <lei>N/A</lei>
        <title>SC Asset Corporation Public Company Limited THB1 (NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0747010R14"/>
          <ticker value="SC-R"/>
        </identifiers>
        <balance>966724</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>72831.26</valUSD>
        <pctVal>0.0029272478</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>Retail Opportunity Investments Corp</name>
        <lei>N/A</lei>
        <title>Retail Opportunity Investments Corp COM</title>
        <cusip>76131N101</cusip>
        <identifiers>
          <isin value="US76131N1019"/>
          <ticker value="ROIC"/>
        </identifiers>
        <balance>140769</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2485980.54</valUSD>
        <pctVal>0.0999170022</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>Charter Hall Retai</name>
        <lei>N/A</lei>
        <title>Charter Hall Retai UNITS NPV</title>
        <cusip>Q2308D108</cusip>
        <identifiers>
          <isin value="AU000000CQR9"/>
          <ticker value="CQR"/>
        </identifiers>
        <balance>465777</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>1397242.78</valUSD>
        <pctVal>0.0561582473</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>S IMMO AG</name>
        <lei>5299001QKV44IT3WPL26</lei>
        <title>S IMMO AG NPV</title>
        <cusip>A5030U105</cusip>
        <identifiers>
          <isin value="AT0000652250"/>
          <ticker value="SPI"/>
        </identifiers>
        <balance>58138</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1455054.29</valUSD>
        <pctVal>0.0584818185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gecina</name>
        <lei>9695003E4MMA10IBTR26</lei>
        <title>Gecina EUR7.50</title>
        <cusip>F4268U171</cusip>
        <identifiers>
          <isin value="FR0010040865"/>
          <ticker value="GFC"/>
        </identifiers>
        <balance>55984</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>10034960.33</valUSD>
        <pctVal>0.4033270321</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>Brigade Enterprise</name>
        <lei>335800QDUUQVHS6II245</lei>
        <title>Brigade Enterprise INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE791I01019"/>
          <ticker value="BRIGADE"/>
        </identifiers>
        <balance>59177</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>181410.99</valUSD>
        <pctVal>0.0072913050</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>Seazen Group Limited</name>
        <lei>5493006M8GRAQRCSCD67</lei>
        <title>Seazen Group Limited HKD0.001</title>
        <cusip>G3701A106</cusip>
        <identifiers>
          <isin value="KYG3701A1067"/>
          <ticker value="1030"/>
        </identifiers>
        <balance>2168000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2645227.61</valUSD>
        <pctVal>0.1063174907</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>Coresite Realty C</name>
        <lei>549300H0YYORITFM2B74</lei>
        <title>Coresite Realty C COM</title>
        <cusip>21870Q105</cusip>
        <identifiers>
          <isin value="US21870Q1058"/>
          <ticker value="COR"/>
        </identifiers>
        <balance>45194</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5067151.28</valUSD>
        <pctVal>0.2036599069</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>Prestige Estates P</name>
        <lei>335800HHEBP52VZLTU94</lei>
        <title>Prestige Estates P INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE811K01011"/>
          <ticker value="PRESTIGE"/>
        </identifiers>
        <balance>132095</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>627515.33</valUSD>
        <pctVal>0.0252212154</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>Xinhu Zhongbao Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Xinhu Zhongbao Co., Ltd. A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000ZH8"/>
          <ticker value="XINHUZ"/>
        </identifiers>
        <balance>608400</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>330361.09</valUSD>
        <pctVal>0.0132779357</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>Redco Properties Group Limited</name>
        <lei>54930027GMI4T9YDMM54</lei>
        <title>Redco Properties Group Limited HKD0.05</title>
        <cusip>G73310131</cusip>
        <identifiers>
          <isin value="KYG733101318"/>
          <ticker value="1622"/>
        </identifiers>
        <balance>1044000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>507683.79</valUSD>
        <pctVal>0.0204049233</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>Merlin Properties Socimi S.A.</name>
        <lei>959800L8KD863DP30X04</lei>
        <title>Merlin Properties Socimi S.A. EUR1</title>
        <cusip>E7390Z100</cusip>
        <identifiers>
          <isin value="ES0105025003"/>
          <ticker value="MRL"/>
        </identifiers>
        <balance>431245</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>6197399.28</valUSD>
        <pctVal>0.2490870493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiayuan International Group Ltd</name>
        <lei>2549006XE21BJYYKLT79</lei>
        <title>Jiayuan International Group Ltd HKD0.01</title>
        <cusip>G5139G100</cusip>
        <identifiers>
          <isin value="KYG5139G1001"/>
          <ticker value="2768"/>
        </identifiers>
        <balance>1502915</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>588650.21</valUSD>
        <pctVal>0.0236591411</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>AEON REIT Investment Corporation</name>
        <lei>353800P59F8MJB4FE788</lei>
        <title>AEON REIT Investment Corporation REIT</title>
        <cusip>J10006104</cusip>
        <identifiers>
          <isin value="JP3047650001"/>
          <ticker value="3292"/>
        </identifiers>
        <balance>1747</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2393573.69</valUSD>
        <pctVal>0.0962029685</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>LaSalle LOGIPORT REIT</name>
        <lei>353800II3DI1RPKBB314</lei>
        <title>LaSalle LOGIPORT REIT REIT</title>
        <cusip>J38684106</cusip>
        <identifiers>
          <isin value="JP3048180008"/>
          <ticker value="3466"/>
        </identifiers>
        <balance>1579</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2345774.74</valUSD>
        <pctVal>0.0942818240</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>Invitation Homes Inc</name>
        <lei>N/A</lei>
        <title>Invitation Homes Inc COM</title>
        <cusip>46187W107</cusip>
        <identifiers>
          <isin value="US46187W1071"/>
          <ticker value="INVH"/>
        </identifiers>
        <balance>657740</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19712467.8</valUSD>
        <pctVal>0.7922872509</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>Centuria Industrial Reit</name>
        <lei>N/A</lei>
        <title>Centuria Industrial Reit NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CIP0"/>
          <ticker value="CIP"/>
        </identifiers>
        <balance>339315</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>795781.34</valUSD>
        <pctVal>0.0319841948</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>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities, Inc. COM</title>
        <cusip>015271109</cusip>
        <identifiers>
          <isin value="US0152711091"/>
          <ticker value="ARE"/>
        </identifiers>
        <balance>138686</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22408883.88</valUSD>
        <pctVal>0.9006621183</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>Sl Green Realty Corp.</name>
        <lei>549300VQZPJU97H3GT17</lei>
        <title>Sl Green Realty Corp. COM</title>
        <cusip>78440X101</cusip>
        <identifiers>
          <isin value="US78440X1019"/>
          <ticker value="SLG"/>
        </identifiers>
        <balance>100994</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9279328.72</valUSD>
        <pctVal>0.3729565429</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>Inmobiliaria Colonial Socimi S.A.</name>
        <lei>95980020140005007414</lei>
        <title>Inmobiliaria Colonial Socimi S.A. EUR2.5</title>
        <cusip>E6451E105</cusip>
        <identifiers>
          <isin value="ES0139140174"/>
          <ticker value="COL"/>
        </identifiers>
        <balance>310650</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3963936.2</valUSD>
        <pctVal>0.1593192768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Land Securities Group plc</name>
        <lei>213800V8IAVKS37D6B88</lei>
        <title>Land Securities Group plc ORD GBP0.106666666</title>
        <cusip>G5375M142</cusip>
        <identifiers>
          <isin value="GB00BYW0PQ60"/>
          <ticker value="LAND"/>
        </identifiers>
        <balance>863048</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>11340737.69</valUSD>
        <pctVal>0.4558090838</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>Senior Housing Properties Trust</name>
        <lei>N/A</lei>
        <title>Senior Housing Properties Trust SH BEN INT</title>
        <cusip>81721M109</cusip>
        <identifiers>
          <isin value="US81721M1099"/>
          <ticker value="SNH"/>
        </identifiers>
        <balance>291981</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2464319.64</valUSD>
        <pctVal>0.0990464032</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>Mack Cali Realty Corp</name>
        <lei>N/A</lei>
        <title>Mack Cali Realty Corp COM</title>
        <cusip>554489104</cusip>
        <identifiers>
          <isin value="US5544891048"/>
          <ticker value="CLI"/>
        </identifiers>
        <balance>111556</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2580290.28</valUSD>
        <pctVal>0.1037075172</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>Unizo Holdings Company Limited</name>
        <lei>N/A</lei>
        <title>Unizo Holdings Company Limited NPV</title>
        <cusip>J29247111</cusip>
        <identifiers>
          <isin value="JP3394400000"/>
          <ticker value="3258"/>
        </identifiers>
        <balance>31500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1478577.87</valUSD>
        <pctVal>0.0594272827</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>Brack Capital Properties N.V</name>
        <lei>529900ZL4OTK0T60P930</lei>
        <title>Brack Capital Properties N.V EUR0.01</title>
        <cusip>N1589P106</cusip>
        <identifiers>
          <isin value="NL0009690619"/>
          <ticker value="BCNV"/>
        </identifiers>
        <balance>3232</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>331340.24</valUSD>
        <pctVal>0.0133172899</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>Grand City Properties S.A.</name>
        <lei>5299002QLUYKK2WBMB18</lei>
        <title>Grand City Properties S.A. EUR0.10</title>
        <cusip>L4459Y100</cusip>
        <identifiers>
          <isin value="LU0775917882"/>
          <ticker value="GYC"/>
        </identifiers>
        <balance>144749</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3471609.43</valUSD>
        <pctVal>0.1395315858</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>Summit Industrial Income REIT</name>
        <lei>N/A</lei>
        <title>Summit Industrial Income REIT TR UNIT NEW</title>
        <cusip>866120116</cusip>
        <identifiers>
          <isin value="CA8661201167"/>
          <ticker value="SMU.UN"/>
        </identifiers>
        <balance>78657</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>730509.74</valUSD>
        <pctVal>0.0293607863</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>Kimco Realty Corporation</name>
        <lei>549300EA7I6T15IBYS12</lei>
        <title>Kimco Realty Corporation COM</title>
        <cusip>49446R109</cusip>
        <identifiers>
          <isin value="US49446R1095"/>
          <ticker value="KIM"/>
        </identifiers>
        <balance>516566</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10698081.86</valUSD>
        <pctVal>0.4299793386</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>Liberty Property Trust</name>
        <lei>N/A</lei>
        <title>Liberty Property Trust SH BEN INT</title>
        <cusip>531172104</cusip>
        <identifiers>
          <isin value="US5311721048"/>
          <ticker value="LPT"/>
        </identifiers>
        <balance>191479</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11498313.95</valUSD>
        <pctVal>0.4621424188</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>Lar Espana Real Estate Socimi SA</name>
        <lei>9598002PHMH00MHN3741</lei>
        <title>Lar Espana Real Estate Socimi SA EUR2</title>
        <cusip>E7S5A1113</cusip>
        <identifiers>
          <isin value="ES0105015012"/>
          <ticker value="LRE"/>
        </identifiers>
        <balance>100966</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>805776.09</valUSD>
        <pctVal>0.0323859057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARETRUST REIT INC</name>
        <lei>5493001NVXE2B9GPLU96</lei>
        <title>CARETRUST REIT INC COM</title>
        <cusip>14174T107</cusip>
        <identifiers>
          <isin value="US14174T1079"/>
          <ticker value="CTRE"/>
        </identifiers>
        <balance>117282</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2419527.66</valUSD>
        <pctVal>0.0972461154</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>Brandywine Realty Trust</name>
        <lei>5UZ46ZCYUFYYAC0DS831</lei>
        <title>Brandywine Realty Trust SH BEN INT NEW</title>
        <cusip>105368203</cusip>
        <identifiers>
          <isin value="US1053682035"/>
          <ticker value="BDN"/>
        </identifiers>
        <balance>216613</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3411654.75</valUSD>
        <pctVal>0.1371218759</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>The Macerich Company</name>
        <lei>529900PSWCB5KI0JYU46</lei>
        <title>The Macerich Company COM</title>
        <cusip>554382101</cusip>
        <identifiers>
          <isin value="US5543821012"/>
          <ticker value="MAC"/>
        </identifiers>
        <balance>138729</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3734584.68</valUSD>
        <pctVal>0.1501011370</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>Dream Office Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Dream Office Real Estate Investment Trust TR UNIT SER A</title>
        <cusip>26153P104</cusip>
        <identifiers>
          <isin value="CA26153P1045"/>
          <ticker value="D.UN"/>
        </identifiers>
        <balance>32711</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>784177.3</valUSD>
        <pctVal>0.0315178030</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>China Vast Indl Urban Dev Co Ltd</name>
        <lei>254900XG0TSM9VRKC598</lei>
        <title>China Vast Indl Urban Dev Co Ltd HKD0.01</title>
        <cusip>G21630101</cusip>
        <identifiers>
          <isin value="KYG216301013"/>
          <ticker value="6166"/>
        </identifiers>
        <balance>396000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>157042.78</valUSD>
        <pctVal>0.0063118932</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>Hemfosa Fastigheter AB</name>
        <lei>549300PZRE1NF5Y4QZ03</lei>
        <title>Hemfosa Fastigheter AB NPV</title>
        <cusip>W3993K137</cusip>
        <identifiers>
          <isin value="SE0007126115"/>
          <ticker value="HEMF"/>
        </identifiers>
        <balance>207796</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>2688204</valUSD>
        <pctVal>0.1080448059</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>Sime Darby Property</name>
        <lei>N/A</lei>
        <title>Sime Darby Property MYR0.50</title>
        <cusip>Y7962J102</cusip>
        <identifiers>
          <isin value="MYL5288OO005"/>
          <ticker value="SIMEPROP"/>
        </identifiers>
        <balance>2742500</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>614162.23</valUSD>
        <pctVal>0.0246845250</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>Lexington Realty Trust</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>Lexington Realty Trust COM</title>
        <cusip>529043101</cusip>
        <identifiers>
          <isin value="US5290431015"/>
          <ticker value="LXP"/>
        </identifiers>
        <balance>258939</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2749932.18</valUSD>
        <pctVal>0.1105257966</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>Weingarten Realty Investors</name>
        <lei>549300JMKTJNB8GWHU88</lei>
        <title>Weingarten Realty Investors SH BEN INT</title>
        <cusip>948741103</cusip>
        <identifiers>
          <isin value="US9487411038"/>
          <ticker value="WRI"/>
        </identifiers>
        <balance>149791</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4679470.84</valUSD>
        <pctVal>0.1880781810</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>Parque Arauco Sa</name>
        <lei>N/A</lei>
        <title>Parque Arauco Sa NPV</title>
        <cusip>P76328106</cusip>
        <identifiers>
          <isin value="CLP763281068"/>
          <ticker value="PARAUCO"/>
        </identifiers>
        <balance>728288</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="751.95"/>
        <valUSD>1795115.74</valUSD>
        <pctVal>0.0721496329</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>Xenia Hotels &amp; Resorts Inc</name>
        <lei>54930075IWIPHF5IQL62</lei>
        <title>Xenia Hotels &amp; Resorts Inc COM</title>
        <cusip>984017103</cusip>
        <identifiers>
          <isin value="US9840171030"/>
          <ticker value="XHR"/>
        </identifiers>
        <balance>138426</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2991385.86</valUSD>
        <pctVal>0.1202303488</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>Community Healthcare Tr Inc</name>
        <lei>549300FATSRCMKOV9536</lei>
        <title>Community Healthcare Tr Inc COM</title>
        <cusip>20369C106</cusip>
        <identifiers>
          <isin value="US20369C1062"/>
          <ticker value="CHCT"/>
        </identifiers>
        <balance>22669</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>971593.34</valUSD>
        <pctVal>0.0390504641</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>Primary Health Properties PLC</name>
        <lei>213800Y5CJHXOATK7X11</lei>
        <title>Primary Health Properties PLC ORD GBP0.125</title>
        <cusip>G7240B186</cusip>
        <identifiers>
          <isin value="GB00BYRJ5J14"/>
          <ticker value="PHP"/>
        </identifiers>
        <balance>1394571</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>2954218.08</valUSD>
        <pctVal>0.1187364943</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>Manulife Us Reit</name>
        <lei>254900OMIOIPNIC1T502</lei>
        <title>Manulife Us Reit NPV UNITS</title>
        <cusip>Y5817J103</cusip>
        <identifiers>
          <isin value="SG1CI1000004"/>
          <ticker value="BTOU"/>
        </identifiers>
        <balance>1728403</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1729002.76</valUSD>
        <pctVal>0.0694924074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LTC Properties Inc</name>
        <lei>549300NRZP8IJG2KY677</lei>
        <title>LTC Properties Inc COM</title>
        <cusip>502175102</cusip>
        <identifiers>
          <isin value="US5021751020"/>
          <ticker value="LTC"/>
        </identifiers>
        <balance>48998</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2193640.46</valUSD>
        <pctVal>0.0881672141</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>Acadia Realty Trust</name>
        <lei>N/A</lei>
        <title>Acadia Realty Trust COM SH BEN INT</title>
        <cusip>004239109</cusip>
        <identifiers>
          <isin value="US0042391096"/>
          <ticker value="AKR"/>
        </identifiers>
        <balance>103961</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2695708.73</valUSD>
        <pctVal>0.1083464374</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>Realty Income Corporation</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corporation COM</title>
        <cusip>756109104</cusip>
        <identifiers>
          <isin value="US7561091049"/>
          <ticker value="O"/>
        </identifiers>
        <balance>389263</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28661434.69</valUSD>
        <pctVal>1.1519658283</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>Alexanders Inc</name>
        <lei>549300TZM28P04U5R635</lei>
        <title>Alexanders Inc COM</title>
        <cusip>014752109</cusip>
        <identifiers>
          <isin value="US0147521092"/>
          <ticker value="ALX"/>
        </identifiers>
        <balance>2849</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>941167.15</valUSD>
        <pctVal>0.0378275689</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>Eshraq Investments PJSC</name>
        <lei>N/A</lei>
        <title>Eshraq Investments PJSC AED1 (PARTLY PAID)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AEE000901018"/>
          <ticker value="ESHRAQ"/>
        </identifiers>
        <balance>1369341</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>120412.98</valUSD>
        <pctVal>0.0048396614</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>PHYSICIANS REALTY TRUST</name>
        <lei>549300ITOVH0OY7PZC34</lei>
        <title>PHYSICIANS REALTY TRUST COM</title>
        <cusip>71943U104</cusip>
        <identifiers>
          <isin value="US71943U1043"/>
          <ticker value="DOC"/>
        </identifiers>
        <balance>226681</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4293338.14</valUSD>
        <pctVal>0.1725586622</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>China Fortune Land Development Co., Ltd.</name>
        <lei>N/A</lei>
        <title>China Fortune Land Development Co., Ltd. 'A'CNY1</title>
        <cusip>Y1507B104</cusip>
        <identifiers>
          <isin value="CNE000001GG8"/>
          <ticker value="CHFOTN"/>
        </identifiers>
        <balance>212200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>874868.89</valUSD>
        <pctVal>0.0351628966</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>LVGEM (China) Resl Estate Investment Company Limited</name>
        <lei>N/A</lei>
        <title>LVGEM (China) Resl Estate Investment Company Limited HKD0.01</title>
        <cusip>G5727E103</cusip>
        <identifiers>
          <isin value="KYG5727E1035"/>
          <ticker value="95"/>
        </identifiers>
        <balance>1220000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>436847.28</valUSD>
        <pctVal>0.0175578489</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>CA Immobilien Anlagen AG</name>
        <lei>5299003ICAPV07J0R180</lei>
        <title>CA Immobilien Anlagen AG NPV</title>
        <cusip>A1144Q155</cusip>
        <identifiers>
          <isin value="AT0000641352"/>
          <ticker value="CAI"/>
        </identifiers>
        <balance>78996</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3319300.54</valUSD>
        <pctVal>0.1334099579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Allreal Holding AG</name>
        <lei>5067006XH174LA44H658</lei>
        <title>Allreal Holding AG CHF1</title>
        <cusip>H0151D100</cusip>
        <identifiers>
          <isin value="CH0008837566"/>
          <ticker value="ALLN"/>
        </identifiers>
        <balance>17689</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".9678"/>
        <valUSD>3515919.35</valUSD>
        <pctVal>0.1413124985</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>Warehouses De Pauw</name>
        <lei>549300HWDYC5JXC85138</lei>
        <title>Warehouses De Pauw NPV</title>
        <cusip>B9774V120</cusip>
        <identifiers>
          <isin value="BE0003763779"/>
          <ticker value="WDP"/>
        </identifiers>
        <balance>21504</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3916626.59</valUSD>
        <pctVal>0.1574178000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nexity</name>
        <lei>969500JJ71T2DIPDVV84</lei>
        <title>Nexity EUR5</title>
        <cusip>F6527B126</cusip>
        <identifiers>
          <isin value="FR0010112524"/>
          <ticker value="NXI"/>
        </identifiers>
        <balance>51850</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>2606198.11</valUSD>
        <pctVal>0.1047488096</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>TAG Immobilien AG</name>
        <lei>529900TAE68USJNXLR59</lei>
        <title>TAG Immobilien AG NPV</title>
        <cusip>D8283Q174</cusip>
        <identifiers>
          <isin value="DE0008303504"/>
          <ticker value="TEG"/>
        </identifiers>
        <balance>162377</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>4035789.06</valUSD>
        <pctVal>0.1622072006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Blue Square Real</name>
        <lei>N/A</lei>
        <title>Blue Square Real ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010985658"/>
          <ticker value="BLSR"/>
        </identifiers>
        <balance>6158</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>435700.1</valUSD>
        <pctVal>0.0175117412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIC Asset AG</name>
        <lei>52990044JL2ZPWONU738</lei>
        <title>DIC Asset AG NPV (REG)</title>
        <cusip>D2837E191</cusip>
        <identifiers>
          <isin value="DE000A1X3XX4"/>
          <ticker value="DIC"/>
        </identifiers>
        <balance>51649</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>920315.91</valUSD>
        <pctVal>0.0369895119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Godrej Properties</name>
        <lei>335800KM3Y5NZWXOE183</lei>
        <title>Godrej Properties INR5</title>
        <cusip>Y2735G139</cusip>
        <identifiers>
          <isin value="INE484J01027"/>
          <ticker value="GODREJPROP"/>
        </identifiers>
        <balance>71569</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>993006.64</valUSD>
        <pctVal>0.0399111115</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>Platinum Group Public Company Limited</name>
        <lei>N/A</lei>
        <title>Platinum Group Public Company Limited THB1(NVDR)</title>
        <cusip>Y6987H125</cusip>
        <identifiers>
          <isin value="TH6329010R15"/>
          <ticker value="PLAT-R"/>
        </identifiers>
        <balance>1015800</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>138462.97</valUSD>
        <pctVal>0.0055651300</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>DoubleDragon Properties Corp</name>
        <lei>N/A</lei>
        <title>DoubleDragon Properties Corp PHP0.1</title>
        <cusip>Y2105Y108</cusip>
        <identifiers>
          <isin value="PHY2105Y1083"/>
          <ticker value="DD"/>
        </identifiers>
        <balance>800200</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>298725.49</valUSD>
        <pctVal>0.0120064316</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>SK D&amp;D CO LTD</name>
        <lei>988400MVYDOY6OP6CO22</lei>
        <title>SK D&amp;D CO LTD KRW1000</title>
        <cusip>Y80668109</cusip>
        <identifiers>
          <isin value="KR7210980009"/>
          <ticker value="A210980"/>
        </identifiers>
        <balance>8610</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1156.45"/>
        <valUSD>216314.05</valUSD>
        <pctVal>0.0086941354</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>FRASERS LOGISTICS &amp; IND TRUST</name>
        <lei>N/A</lei>
        <title>FRASERS LOGISTICS &amp; IND TRUST NPV UNITS (REIT)</title>
        <cusip>Y26465107</cusip>
        <identifiers>
          <isin value="SG1CI9000006"/>
          <ticker value="BUOU"/>
        </identifiers>
        <balance>2076800</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>1914937.11</valUSD>
        <pctVal>0.0769655161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldcrest Co Ltd</name>
        <lei>N/A</lei>
        <title>Goldcrest Co Ltd NPV</title>
        <cusip>J17451105</cusip>
        <identifiers>
          <isin value="JP3306800008"/>
          <ticker value="8871"/>
        </identifiers>
        <balance>19000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>362113.43</valUSD>
        <pctVal>0.0145541318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Real Estate Investment Corp</name>
        <lei>3538003YAIR3CBGJJ928</lei>
        <title>Japan Real Estate Investment Corp REIT</title>
        <cusip>J27523109</cusip>
        <identifiers>
          <isin value="JP3027680002"/>
          <ticker value="8952"/>
        </identifiers>
        <balance>1611</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>10687746.59</valUSD>
        <pctVal>0.4295639415</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>LPN Development</name>
        <lei>N/A</lei>
        <title>LPN Development THB1(NVDR)</title>
        <cusip>Y5347B125</cusip>
        <identifiers>
          <isin value="TH0456010R12"/>
          <ticker value="LPN-R"/>
        </identifiers>
        <balance>1508401</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>219946.35</valUSD>
        <pctVal>0.0088401255</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>Ascendas Real Estate Investment Trust</name>
        <lei>549300ILIBAEMQZK3L20</lei>
        <title>Ascendas Real Estate Investment Trust NPV(REAL ESTATE INVESTMENT TRUSTS)</title>
        <cusip>Y0205X103</cusip>
        <identifiers>
          <isin value="SG1M77906915"/>
          <ticker value="A17U"/>
        </identifiers>
        <balance>3541357</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>7823890.94</valUSD>
        <pctVal>0.3144593111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chip Eng Seng Corporation Ltd</name>
        <lei>2549005EKK86CG8L6E59</lei>
        <title>Chip Eng Seng Corporation Ltd NPV</title>
        <cusip>Y1565N107</cusip>
        <identifiers>
          <isin value="SG1H36875612"/>
          <ticker value="C29"/>
        </identifiers>
        <balance>416200</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>191895.56</valUSD>
        <pctVal>0.0077127028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Precinct Properties New Zealand Limited</name>
        <lei>N/A</lei>
        <title>Precinct Properties New Zealand Limited UNITS NPV</title>
        <cusip>Q7740Q104</cusip>
        <identifiers>
          <isin value="NZAPTE0001S3"/>
          <ticker value="PCT"/>
        </identifiers>
        <balance>1369583</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.4854426"/>
        <valUSD>1692227.99</valUSD>
        <pctVal>0.0680143489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Takara Leben Co Ltd</name>
        <lei>N/A</lei>
        <title>Takara Leben Co Ltd NPV</title>
        <cusip>J80744105</cusip>
        <identifiers>
          <isin value="JP3460800000"/>
          <ticker value="8897"/>
        </identifiers>
        <balance>94900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>440235.55</valUSD>
        <pctVal>0.0176940309</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>Asian property development public company limited</name>
        <lei>N/A</lei>
        <title>Asian property development public company limited THB1(NVDR)</title>
        <cusip>Y0209X125</cusip>
        <identifiers>
          <isin value="TH0308010R15"/>
          <ticker value="AP-R"/>
        </identifiers>
        <balance>2343004</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>576465.32</valUSD>
        <pctVal>0.0231694037</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>Kenedix Office Investement Corporation</name>
        <lei>353800FFT483NCIHFY42</lei>
        <title>Kenedix Office Investement Corporation N</title>
        <cusip>J32922106</cusip>
        <identifiers>
          <isin value="JP3046270009"/>
          <ticker value="8972"/>
        </identifiers>
        <balance>526</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4063829.66</valUSD>
        <pctVal>0.1633342138</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>SUN Frontier Fudos</name>
        <lei>N/A</lei>
        <title>SUN Frontier Fudos NPV</title>
        <cusip>J7808L102</cusip>
        <identifiers>
          <isin value="JP3336950005"/>
          <ticker value="8934"/>
        </identifiers>
        <balance>34100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>408066.43</valUSD>
        <pctVal>0.0164010835</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>Mcubs Midcity Investment Corp</name>
        <lei>353800WZPKHG2SQS1P32</lei>
        <title>Mcubs Midcity Investment Corp REIT</title>
        <cusip>J4176C103</cusip>
        <identifiers>
          <isin value="JP3046450007"/>
          <ticker value="3227"/>
        </identifiers>
        <balance>1917</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2081936.28</valUSD>
        <pctVal>0.0836775785</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>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>1251402</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2310545.57</valUSD>
        <pctVal>0.0928658865</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>Daiwa House Industry Co</name>
        <lei>N/A</lei>
        <title>Daiwa House Industry Co NPV</title>
        <cusip>J11508124</cusip>
        <identifiers>
          <isin value="JP3505000004"/>
          <ticker value="1925"/>
        </identifiers>
        <balance>693500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>21485684.53</valUSD>
        <pctVal>0.8635567146</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>SIX Of October Dev</name>
        <lei>N/A</lei>
        <title>SIX Of October Dev EGP4</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EGS65851C015"/>
          <ticker value="OCDI"/>
        </identifiers>
        <balance>255318</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.05"/>
        <valUSD>210776.54</valUSD>
        <pctVal>0.0084715707</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>HEIWA REAL ESTATE CO.,LTD.</name>
        <lei>N/A</lei>
        <title>HEIWA REAL ESTATE CO.,LTD. NPV</title>
        <cusip>J19278100</cusip>
        <identifiers>
          <isin value="JP3834800009"/>
          <ticker value="8803"/>
        </identifiers>
        <balance>39400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1086494.66</valUSD>
        <pctVal>0.0436685998</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>Henderson Land Development Co Ltd</name>
        <lei>529900SYQB7IVR9QGN76</lei>
        <title>Henderson Land Development Co Ltd NPV</title>
        <cusip>Y31476107</cusip>
        <identifiers>
          <isin value="HK0012000102"/>
          <ticker value="12"/>
        </identifiers>
        <balance>1780555</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>8743893.03</valUSD>
        <pctVal>0.3514362099</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>Hongkong Land Hld</name>
        <lei>213800XCHYNRPAYGXW28</lei>
        <title>Hongkong Land Hld ORD USD0.10(BERMUDA REG)</title>
        <cusip>G4587L109</cusip>
        <identifiers>
          <isin value="BMG4587L1090"/>
          <ticker value="HKLB"/>
        </identifiers>
        <balance>1430718</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8233464.83</valUSD>
        <pctVal>0.3309209827</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>Hysan Development Co Ltd</name>
        <lei>5299007BABFLKIH9HL03</lei>
        <title>Hysan Development Co Ltd NPV</title>
        <cusip>Y38203124</cusip>
        <identifiers>
          <isin value="HK0014000126"/>
          <ticker value="14"/>
        </identifiers>
        <balance>774045</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>3045557.38</valUSD>
        <pctVal>0.1224076208</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>Suntec Real Estate Investment Trust</name>
        <lei>549300C46QFXSI2F4K13</lei>
        <title>Suntec Real Estate Investment Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y82954101</cusip>
        <identifiers>
          <isin value="SG1Q52922370"/>
          <ticker value="T82U"/>
        </identifiers>
        <balance>2410091</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>3298494.54</valUSD>
        <pctVal>0.1325737192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitsubishi Estate Co Ltd</name>
        <lei>353800KOFMRGOXSJ5Z65</lei>
        <title>Mitsubishi Estate Co Ltd NPV</title>
        <cusip>J43916113</cusip>
        <identifiers>
          <isin value="JP3899600005"/>
          <ticker value="8802"/>
        </identifiers>
        <balance>1447980</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>27681335.81</valUSD>
        <pctVal>1.1125735080</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>Zhuguang Hldg Gp</name>
        <lei>N/A</lei>
        <title>Zhuguang Hldg Gp ORD HKD0.10</title>
        <cusip>G9908J105</cusip>
        <identifiers>
          <isin value="BMG9908J1053"/>
          <ticker value="1176"/>
        </identifiers>
        <balance>1714000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>230013.68</valUSD>
        <pctVal>0.0092447535</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>Sumitomo Realty &amp; Devmt Co Ltd</name>
        <lei>N/A</lei>
        <title>Sumitomo Realty &amp; Devmt Co Ltd NPV</title>
        <cusip>J77841112</cusip>
        <identifiers>
          <isin value="JP3409000001"/>
          <ticker value="8830"/>
        </identifiers>
        <balance>408325</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>14241989.92</valUSD>
        <pctVal>0.5724167647</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>Sun Hung Kai Properties Ltd</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>Sun Hung Kai Properties Ltd NPV</title>
        <cusip>Y82594121</cusip>
        <identifiers>
          <isin value="HK0016000132"/>
          <ticker value="16"/>
        </identifiers>
        <balance>1950925</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>29925682.55</valUSD>
        <pctVal>1.2027787185</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>Aventus Group</name>
        <lei>N/A</lei>
        <title>Aventus Group UNITS</title>
        <cusip>Q1R25C105</cusip>
        <identifiers>
          <isin value="AU000000AVN2"/>
          <ticker value="AVN"/>
        </identifiers>
        <balance>358870</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>716933.09</valUSD>
        <pctVal>0.0288151110</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>Medinet Nasr Housi</name>
        <lei>2138003LPSILN3GWTH80</lei>
        <title>Medinet Nasr Housi EGP1</title>
        <cusip>M7074M103</cusip>
        <identifiers>
          <isin value="EGS65571C019"/>
          <ticker value="MNHD"/>
        </identifiers>
        <balance>852344</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.05"/>
        <valUSD>255970.26</valUSD>
        <pctVal>0.0102880053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</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>2192000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>10294791.17</valUSD>
        <pctVal>0.4137702026</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>Swire Properties Limited</name>
        <lei>5299001L12PHYVQ92465</lei>
        <title>Swire Properties Limited NPV</title>
        <cusip>Y83191109</cusip>
        <identifiers>
          <isin value="HK0000063609"/>
          <ticker value="1972"/>
        </identifiers>
        <balance>1435200</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>4769170.12</valUSD>
        <pctVal>0.1916833915</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>PT Pakuwon Jati Tbk</name>
        <lei>254900GUXQAQB065PM73</lei>
        <title>PT Pakuwon Jati Tbk IDR25</title>
        <cusip>Y712CA107</cusip>
        <identifiers>
          <isin value="ID1000122500"/>
          <ticker value="PWON"/>
        </identifiers>
        <balance>21164140</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>866879.2</valUSD>
        <pctVal>0.0348417735</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>Mapletree North Asia Commercial Treasury Company (HKSAR) Limited</name>
        <lei>5493006BB2S52YF6CU81</lei>
        <title>Mapletree North Asia Commercial Treasury Company (HKSAR) Limited NPV</title>
        <cusip>Y5759X102</cusip>
        <identifiers>
          <isin value="SG2F55990442"/>
          <ticker value="RW0U"/>
        </identifiers>
        <balance>2735800</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>2361832.06</valUSD>
        <pctVal>0.0949272029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SmartCentres Real Estate Investment Trust</name>
        <lei>549300HKEP2IYWZ14H97</lei>
        <title>SmartCentres Real Estate Investment Trust VAR VTG UNIT</title>
        <cusip>83179X108</cusip>
        <identifiers>
          <isin value="CA83179X1087"/>
          <ticker value="SRU.UN"/>
        </identifiers>
        <balance>88564</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>2128591.46</valUSD>
        <pctVal>0.0855527524</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>Industrial &amp; Infrastructure Fund Investment Corporation</name>
        <lei>353800WCHFY04YKYCI19</lei>
        <title>Industrial &amp; Infrastructure Fund Investment Corporation REIT</title>
        <cusip>J24393118</cusip>
        <identifiers>
          <isin value="JP3046500009"/>
          <ticker value="3249"/>
        </identifiers>
        <balance>1979</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>3019549.76</valUSD>
        <pctVal>0.1213623176</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>Lippo Malls Indonesia Retail Trust</name>
        <lei>5493003TYHRXE6MX7954</lei>
        <title>Lippo Malls Indonesia Retail Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>Y5309Y113</cusip>
        <identifiers>
          <isin value="SG1W27938677"/>
          <ticker value="D5IU"/>
        </identifiers>
        <balance>2233000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>373531.57</valUSD>
        <pctVal>0.0150130518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dexus</name>
        <lei>N/A</lei>
        <title>Dexus NPV (STAPLED)</title>
        <cusip>Q3190P134</cusip>
        <identifiers>
          <isin value="AU000000DXS1"/>
          <ticker value="DXS"/>
        </identifiers>
        <balance>1343874</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>11058250.79</valUSD>
        <pctVal>0.4444553167</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>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>10113700</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>863435.65</valUSD>
        <pctVal>0.0347033697</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>Advance Residence Investment Corp</name>
        <lei>N/A</lei>
        <title>Advance Residence Investment Corp REIT</title>
        <cusip>J00184101</cusip>
        <identifiers>
          <isin value="JP3047160001"/>
          <ticker value="3269"/>
        </identifiers>
        <balance>1571</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4980022.95</valUSD>
        <pctVal>0.2001580285</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>Asian property development public company limited</name>
        <lei>N/A</lei>
        <title>Asian property development public company limited THB1(ALIEN MARKET)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0308010Y16"/>
          <ticker value="AP-F"/>
        </identifiers>
        <balance>441405</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>109784.83</valUSD>
        <pctVal>0.0044124927</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>Poly Developments And Holdings Group</name>
        <lei>N/A</lei>
        <title>Poly Developments And Holdings Group 'A'CNY1</title>
        <cusip>Y6987R107</cusip>
        <identifiers>
          <isin value="CNE000001ND1"/>
          <ticker value="POLYRE"/>
        </identifiers>
        <balance>883500</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>2052761.14</valUSD>
        <pctVal>0.0825049657</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>Pp Properti Tbk, PT</name>
        <lei>N/A</lei>
        <title>Pp Properti Tbk, PT IDR25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ID1000133903"/>
          <ticker value="PPRO"/>
        </identifiers>
        <balance>18363800</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>89773.79</valUSD>
        <pctVal>0.0036082052</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>Washington Prime Group Inc</name>
        <lei>549300RWGA2GV6YQYT67</lei>
        <title>Washington Prime Group Inc COM</title>
        <cusip>93964W108</cusip>
        <identifiers>
          <isin value="US93964W1080"/>
          <ticker value="WPG"/>
        </identifiers>
        <balance>230098</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>837556.72</valUSD>
        <pctVal>0.0336632388</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>Sabra Health Care REIT, Inc.</name>
        <lei>549300E3BC7GU7TAZ621</lei>
        <title>Sabra Health Care REIT, Inc. COM</title>
        <cusip>78573L106</cusip>
        <identifiers>
          <isin value="US78573L1061"/>
          <ticker value="SBRA"/>
        </identifiers>
        <balance>232290</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4957068.6</valUSD>
        <pctVal>0.1992354429</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>W. P. Carey Inc</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>W. P. Carey Inc COM</title>
        <cusip>92936U109</cusip>
        <identifiers>
          <isin value="US92936U1097"/>
          <ticker value="WPC"/>
        </identifiers>
        <balance>209034</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16731081.36</valUSD>
        <pctVal>0.6724588007</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>Guorui Properties Limited</name>
        <lei>213800RH1GJT3SVZ7176</lei>
        <title>Guorui Properties Limited HKD0.001</title>
        <cusip>G39407104</cusip>
        <identifiers>
          <isin value="KYG394071040"/>
          <ticker value="2329"/>
        </identifiers>
        <balance>1315000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>275832.85</valUSD>
        <pctVal>0.0110863263</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>Hersha Hospitality Trust</name>
        <lei>549300DNC58BIN1VO064</lei>
        <title>Hersha Hospitality Trust PR SHS BEN INT</title>
        <cusip>427825500</cusip>
        <identifiers>
          <isin value="US4278255009"/>
          <ticker value="HT"/>
        </identifiers>
        <balance>46698</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>679455.9</valUSD>
        <pctVal>0.0273088206</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>Regional Reit Limited</name>
        <lei>549300D8G4NKLRIKBX73</lei>
        <title>Regional Reit Limited ORD NPV</title>
        <cusip>G7418M105</cusip>
        <identifiers>
          <isin value="GG00BYV2ZQ34"/>
          <ticker value="RGL"/>
        </identifiers>
        <balance>466611</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>699678.93</valUSD>
        <pctVal>0.0281216285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Resilient REIT Limited</name>
        <lei>N/A</lei>
        <title>Resilient REIT Limited NPV</title>
        <cusip>S6990F105</cusip>
        <identifiers>
          <isin value="ZAE000209557"/>
          <ticker value="RES"/>
        </identifiers>
        <balance>345240</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>1676537.14</valUSD>
        <pctVal>0.0673836993</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>KILLAM APARTMENT REIT</name>
        <lei>N/A</lei>
        <title>KILLAM APARTMENT REIT TR UNIT</title>
        <cusip>49410M102</cusip>
        <identifiers>
          <isin value="CA49410M1023"/>
          <ticker value="KMP.UN"/>
        </identifiers>
        <balance>53737</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>783780.97</valUSD>
        <pctVal>0.0315018737</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>Singha Estate Public Company Limited</name>
        <lei>N/A</lei>
        <title>Singha Estate Public Company Limited THB1.00(NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0940010R15"/>
          <ticker value="S-R"/>
        </identifiers>
        <balance>3550100</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>307710.36</valUSD>
        <pctVal>0.0123675532</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>Pruksa Holding Public Company Limited</name>
        <lei>N/A</lei>
        <title>Pruksa Holding Public Company Limited NPV</title>
        <cusip>Y711DL112</cusip>
        <identifiers>
          <isin value="TH7595010R10"/>
          <ticker value="PSH-R"/>
        </identifiers>
        <balance>620300</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>305943.77</valUSD>
        <pctVal>0.0122965501</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 Logistics Property Holdings Co Ltd</name>
        <lei>254900GWJDRQ9Q9VZ809</lei>
        <title>China Logistics Property Holdings Co Ltd USD0.0000625</title>
        <cusip>G21209104</cusip>
        <identifiers>
          <isin value="KYG212091048"/>
          <ticker value="1589"/>
        </identifiers>
        <balance>959000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>373085.46</valUSD>
        <pctVal>0.0149951217</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>STD Life Inv Prop</name>
        <lei>549300HHFBWZRKC7RW84</lei>
        <title>STD Life Inv Prop ORD GBP0.01</title>
        <cusip>G73787114</cusip>
        <identifiers>
          <isin value="GB0033875286"/>
          <ticker value="SLI"/>
        </identifiers>
        <balance>487606</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>587932.19</valUSD>
        <pctVal>0.0236302823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Helical plc</name>
        <lei>2138003SBD2Z7WV2MP70</lei>
        <title>Helical plc ORD GBP0.01</title>
        <cusip>G43904195</cusip>
        <identifiers>
          <isin value="GB00B0FYMT95"/>
          <ticker value="HLCL"/>
        </identifiers>
        <balance>128574</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>809462.71</valUSD>
        <pctVal>0.0325340790</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>Hansteen Hldgs</name>
        <lei>2138007274QQL9KBWY58</lei>
        <title>Hansteen Hldgs ORD GBP0.10</title>
        <cusip>G4383U105</cusip>
        <identifiers>
          <isin value="GB00B0PPFY88"/>
          <ticker value="HSTN"/>
        </identifiers>
        <balance>508676</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>782731.15</valUSD>
        <pctVal>0.0314596791</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>LSR Group PJSC</name>
        <lei>25340067LEEMJ79K8X43</lei>
        <title>LSR Group PJSC GDR EACH REPR 0.20 ORD 'REGS'</title>
        <cusip>50218G206</cusip>
        <identifiers>
          <isin value="US50218G2066"/>
          <ticker value="LSRG"/>
        </identifiers>
        <balance>240757</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>597574.14</valUSD>
        <pctVal>0.0240178134</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>Oberoi Realty Ltd</name>
        <lei>N/A</lei>
        <title>Oberoi Realty Ltd INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE093I01010"/>
          <ticker value="OBEROIRLTY"/>
        </identifiers>
        <balance>64363</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="71.37815"/>
        <valUSD>479445.32</valUSD>
        <pctVal>0.0192699574</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>NorthWest Healthcare Properties REIT</name>
        <lei>N/A</lei>
        <title>NorthWest Healthcare Properties REIT TR UNIT</title>
        <cusip>667495105</cusip>
        <identifiers>
          <isin value="CA6674951059"/>
          <ticker value="NWH.UN"/>
        </identifiers>
        <balance>75745</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>695882.21</valUSD>
        <pctVal>0.0279690300</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>Ascendas Hospitality Trust</name>
        <lei>549300TOZ3IG3PEEOF40</lei>
        <title>Ascendas Hospitality Trust STAPLED UNIT(A-HRIET&amp;A-HBT)</title>
        <cusip>Y02074105</cusip>
        <identifiers>
          <isin value="SG2F05983695"/>
          <ticker value="Q1P"/>
        </identifiers>
        <balance>845700</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>704252.2</valUSD>
        <pctVal>0.0283054382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shopping Centres Australasia Property Group RE Limited</name>
        <lei>549300MS6NZV0B7K7D28</lei>
        <title>Shopping Centres Australasia Property Group RE Limited NPV (STAPLED)</title>
        <cusip>Q8501T105</cusip>
        <identifiers>
          <isin value="AU000000SCP9"/>
          <ticker value="SCP"/>
        </identifiers>
        <balance>1150483</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>2159523.59</valUSD>
        <pctVal>0.0867959824</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>FRP Holdings Inc</name>
        <lei>N/A</lei>
        <title>FRP Holdings Inc COM</title>
        <cusip>30292L107</cusip>
        <identifiers>
          <isin value="US30292L1070"/>
          <ticker value="FRPH"/>
        </identifiers>
        <balance>8321</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>414469.01</valUSD>
        <pctVal>0.0166584172</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>China Merchants Shekou Industrial Zone Holdings Co,.Ltd.</name>
        <lei>N/A</lei>
        <title>China Merchants Shekou Industrial Zone Holdings Co,.Ltd. A CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100002FC6"/>
          <ticker value="001979"/>
        </identifiers>
        <balance>590200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>1684387.54</valUSD>
        <pctVal>0.0676992240</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>Consus Real Estate Ag</name>
        <lei>9676007H44QN6VYEBV03</lei>
        <title>Consus Real Estate Ag NPV</title>
        <cusip>D1S9TZ106</cusip>
        <identifiers>
          <isin value="DE000A2DA414"/>
          <ticker value="CC1"/>
        </identifiers>
        <balance>53754</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>439568.5</valUSD>
        <pctVal>0.0176672207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIFI Holdings Group Co Ltd</name>
        <lei>549300WGKSV867C0JF48</lei>
        <title>CIFI Holdings Group Co Ltd HKD0.10</title>
        <cusip>G2140A107</cusip>
        <identifiers>
          <isin value="KYG2140A1076"/>
          <ticker value="884"/>
        </identifiers>
        <balance>3391256</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2869714.25</valUSD>
        <pctVal>0.1153401003</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>American Homes 4 Rent</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>American Homes 4 Rent CL A</title>
        <cusip>02665T306</cusip>
        <identifiers>
          <isin value="US02665T3068"/>
          <ticker value="AMH"/>
        </identifiers>
        <balance>330092</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8651711.32</valUSD>
        <pctVal>0.3477312251</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>Hulic Reit, Inc.</name>
        <lei>N/A</lei>
        <title>Hulic Reit, Inc. REIT</title>
        <cusip>J2359T109</cusip>
        <identifiers>
          <isin value="JP3047660000"/>
          <ticker value="3295"/>
        </identifiers>
        <balance>1382</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2508069.77</valUSD>
        <pctVal>0.1008048167</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>Healthcare Trust Of America Inc</name>
        <lei>549300L0I14L7I0VLX84</lei>
        <title>Healthcare Trust Of America Inc CL A NEW</title>
        <cusip>42225P501</cusip>
        <identifiers>
          <isin value="US42225P5017"/>
          <ticker value="HTA"/>
        </identifiers>
        <balance>251210</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7606638.8</valUSD>
        <pctVal>0.3057274718</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>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc. COM</title>
        <cusip>29444U700</cusip>
        <identifiers>
          <isin value="US29444U7000"/>
          <ticker value="EQIX"/>
        </identifiers>
        <balance>103810</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60593897</valUSD>
        <pctVal>2.4354014203</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>Boston Properties, Inc.</name>
        <lei>549300OF70FSEUQBT254</lei>
        <title>Boston Properties, Inc. COM</title>
        <cusip>101121101</cusip>
        <identifiers>
          <isin value="US1011211018"/>
          <ticker value="BXP"/>
        </identifiers>
        <balance>189135</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26074151.1</valUSD>
        <pctVal>1.0479772348</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>Omega Healthcare Investors, Inc.</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>Omega Healthcare Investors, Inc. COM</title>
        <cusip>681936100</cusip>
        <identifiers>
          <isin value="US6819361006"/>
          <ticker value="OHI"/>
        </identifiers>
        <balance>267203</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11316047.05</valUSD>
        <pctVal>0.4548167129</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>Morguard Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Morguard Real Estate Investment Trust UNIT</title>
        <cusip>617914106</cusip>
        <identifiers>
          <isin value="CA6179141065"/>
          <ticker value="MRT.UN"/>
        </identifiers>
        <balance>28542</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>259143.03</valUSD>
        <pctVal>0.0104155259</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>Camden Property Trust</name>
        <lei>5493002MYX22OHYJBD89</lei>
        <title>Camden Property Trust SH BEN INT</title>
        <cusip>133131102</cusip>
        <identifiers>
          <isin value="US1331311027"/>
          <ticker value="CPT"/>
        </identifiers>
        <balance>118356</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12557571.6</valUSD>
        <pctVal>0.5047163035</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>RioCan Real Estate Investment Trust</name>
        <lei>549300S8HVUSEU3JBY60</lei>
        <title>RioCan Real Estate Investment Trust UNIT</title>
        <cusip>766910103</cusip>
        <identifiers>
          <isin value="CA7669101031"/>
          <ticker value="REI.UN"/>
        </identifiers>
        <balance>184037</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>3792561.03</valUSD>
        <pctVal>0.1524313335</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>Duke Realty Corp</name>
        <lei>N/A</lei>
        <title>Duke Realty Corp COM NEW</title>
        <cusip>264411505</cusip>
        <identifiers>
          <isin value="US2644115055"/>
          <ticker value="DRE"/>
        </identifiers>
        <balance>441981</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15323481.27</valUSD>
        <pctVal>0.6158842705</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>Equity Residential Properties Trust</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>Equity Residential Properties Trust SH BEN INT</title>
        <cusip>29476L107</cusip>
        <identifiers>
          <isin value="US29476L1070"/>
          <ticker value="EQR"/>
        </identifiers>
        <balance>453676</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36711461.92</valUSD>
        <pctVal>1.4755140522</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>First Industrial Realty Trust, Inc.</name>
        <lei>N/A</lei>
        <title>First Industrial Realty Trust, Inc. COM</title>
        <cusip>32054K103</cusip>
        <identifiers>
          <isin value="US32054K1034"/>
          <ticker value="FR"/>
        </identifiers>
        <balance>154638</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6419023.38</valUSD>
        <pctVal>0.2579946072</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>Washington Real Estate Investment Trust</name>
        <lei>549300DI34BGS8LVKW95</lei>
        <title>Washington Real Estate Investment Trust SH BEN INT</title>
        <cusip>939653101</cusip>
        <identifiers>
          <isin value="US9396531017"/>
          <ticker value="WRE"/>
        </identifiers>
        <balance>98382</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2870786.76</valUSD>
        <pctVal>0.1153832069</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>Mid-America Apartment Communities, Inc.</name>
        <lei>549300FQZKFR5YNSHZ21</lei>
        <title>Mid-America Apartment Communities, Inc. COM</title>
        <cusip>59522J103</cusip>
        <identifiers>
          <isin value="US59522J1034"/>
          <ticker value="MAA"/>
        </identifiers>
        <balance>139450</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18387877</valUSD>
        <pctVal>0.7390490458</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>National Health Investors, Inc.</name>
        <lei>549300ZPKZIG6DKDEC02</lei>
        <title>National Health Investors, Inc. COM</title>
        <cusip>63633D104</cusip>
        <identifiers>
          <isin value="US63633D1046"/>
          <ticker value="NHI"/>
        </identifiers>
        <balance>53216</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4336039.68</valUSD>
        <pctVal>0.1742749306</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>Corporate Office Properties Trust</name>
        <lei>YY1J47X6LF9TYY8JY420</lei>
        <title>Corporate Office Properties Trust SH BEN INT</title>
        <cusip>22002T108</cusip>
        <identifiers>
          <isin value="US22002T1088"/>
          <ticker value="OFC"/>
        </identifiers>
        <balance>137333</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4034843.54</valUSD>
        <pctVal>0.1621691981</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>Public Storage</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage COM</title>
        <cusip>74460D109</cusip>
        <identifiers>
          <isin value="US74460D1090"/>
          <ticker value="PSA"/>
        </identifiers>
        <balance>192308</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40953911.68</valUSD>
        <pctVal>1.6460273989</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>Taubman Centers, Inc.</name>
        <lei>N/A</lei>
        <title>Taubman Centers, Inc. COM</title>
        <cusip>876664103</cusip>
        <identifiers>
          <isin value="US8766641034"/>
          <ticker value="TCO"/>
        </identifiers>
        <balance>75309</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2341356.81</valUSD>
        <pctVal>0.0941042577</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>Tanger Factory Outlet Centers, Inc.</name>
        <lei>UKEW8YSXE4Y581KYOL30</lei>
        <title>Tanger Factory Outlet Centers, Inc. COM</title>
        <cusip>875465106</cusip>
        <identifiers>
          <isin value="US8754651060"/>
          <ticker value="SKT"/>
        </identifiers>
        <balance>115060</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1694833.8</valUSD>
        <pctVal>0.0681190821</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>Kennedy-Wilson Holdings Inc</name>
        <lei>549300MOI1T78144X610</lei>
        <title>Kennedy-Wilson Holdings Inc COM</title>
        <cusip>489398107</cusip>
        <identifiers>
          <isin value="US4893981070"/>
          <ticker value="KW"/>
        </identifiers>
        <balance>157845</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3519943.5</valUSD>
        <pctVal>0.1414742379</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>CSI Properties Ltd</name>
        <lei>N/A</lei>
        <title>CSI Properties Ltd HKD0.008</title>
        <cusip>G2581C109</cusip>
        <identifiers>
          <isin value="BMG2581C1091"/>
          <ticker value="497"/>
        </identifiers>
        <balance>5540000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>199384.63</valUSD>
        <pctVal>0.0080137049</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>Londonmetric Property Plc</name>
        <lei>213800OCERWWPQDURL87</lei>
        <title>Londonmetric Property Plc ORD GBP0.10</title>
        <cusip>G5689W109</cusip>
        <identifiers>
          <isin value="GB00B4WFW713"/>
          <ticker value="LMP"/>
        </identifiers>
        <balance>980014</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>3083524.23</valUSD>
        <pctVal>0.1239335917</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>Sph Reit</name>
        <lei>549300147IMZFE7VYR26</lei>
        <title>Sph Reit UNITS</title>
        <cusip>Y8123J106</cusip>
        <identifiers>
          <isin value="SG2G02994595"/>
          <ticker value="SK6U"/>
        </identifiers>
        <balance>973200</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>774300.79</valUSD>
        <pctVal>0.0311208445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Summit R/Est Hldgs</name>
        <lei>254900R2MAR4ZEW3DO03</lei>
        <title>Summit R/Est Hldgs ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010816861"/>
          <ticker value="SMT"/>
        </identifiers>
        <balance>44235</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>590654.03</valUSD>
        <pctVal>0.0237396790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</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>6761722</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>3655922.85</valUSD>
        <pctVal>0.1469395458</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>SERITAGE GROWTH PROPERTIES</name>
        <lei>5493003CJFC2MM82WB25</lei>
        <title>SERITAGE GROWTH PROPERTIES CL A</title>
        <cusip>81752R100</cusip>
        <identifiers>
          <isin value="US81752R1005"/>
          <ticker value="SRG"/>
        </identifiers>
        <balance>43118</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1728169.44</valUSD>
        <pctVal>0.0694589145</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>Ck Asset Holdings Ltd</name>
        <lei>5299006GJZSGP78B8S35</lei>
        <title>Ck Asset Holdings Ltd HKD1</title>
        <cusip>G2177B101</cusip>
        <identifiers>
          <isin value="KYG2177B1014"/>
          <ticker value="1113"/>
        </identifiers>
        <balance>3166500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>22948715.83</valUSD>
        <pctVal>0.9223591466</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>Corepoint Lodging Inc.</name>
        <lei>549300VM1I60JN1Z8171</lei>
        <title>Corepoint Lodging Inc. COM</title>
        <cusip>21872L104</cusip>
        <identifiers>
          <isin value="US21872L1044"/>
          <ticker value="CPLG"/>
        </identifiers>
        <balance>49035</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>523693.8</valUSD>
        <pctVal>0.0210484007</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>PS Business Pks</name>
        <lei>N/A</lei>
        <title>PS Business Pks COM</title>
        <cusip>69360J107</cusip>
        <identifiers>
          <isin value="US69360J1079"/>
          <ticker value="PSB"/>
        </identifiers>
        <balance>25170</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4149777.9</valUSD>
        <pctVal>0.1667886618</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>Ashford Hospitality Trust Inc</name>
        <lei>N/A</lei>
        <title>Ashford Hospitality Trust Inc COM SHS</title>
        <cusip>044103109</cusip>
        <identifiers>
          <isin value="US0441031095"/>
          <ticker value="AHT"/>
        </identifiers>
        <balance>116950</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>326290.5</valUSD>
        <pctVal>0.0131143298</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>Greenland Hong Kong Holdings Ltd</name>
        <lei>549300SQS5QFUUV6IS14</lei>
        <title>Greenland Hong Kong Holdings Ltd HKD0.5</title>
        <cusip>G4587S104</cusip>
        <identifiers>
          <isin value="KYG4587S1049"/>
          <ticker value="337"/>
        </identifiers>
        <balance>989000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>429630.64</valUSD>
        <pctVal>0.0172677963</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 Merchants Land Limited</name>
        <lei>549300PI8IF6UEHMVV14</lei>
        <title>China Merchants Land Limited HKD0.01</title>
        <cusip>G210AW106</cusip>
        <identifiers>
          <isin value="KYG210AW1064"/>
          <ticker value="978"/>
        </identifiers>
        <balance>1486000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>232995.46</valUSD>
        <pctVal>0.0093645978</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>Rlj Lodging Tr</name>
        <lei>549300RX5I8Z6I6LDZ74</lei>
        <title>Rlj Lodging Tr COM</title>
        <cusip>74965L101</cusip>
        <identifiers>
          <isin value="US74965L1017"/>
          <ticker value="RLJ"/>
        </identifiers>
        <balance>211519</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3748116.68</valUSD>
        <pctVal>0.1506450177</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>Interrent Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Interrent Real Estate Investment Trust TR UNIT NEW</title>
        <cusip>46071W205</cusip>
        <identifiers>
          <isin value="CA46071W2058"/>
          <ticker value="IIP.UN"/>
        </identifiers>
        <balance>70415</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>848092.56</valUSD>
        <pctVal>0.0340866973</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>Custodian Reit Plc</name>
        <lei>2138001BOD1J5XK1CX76</lei>
        <title>Custodian Reit Plc ORD GBP0.01</title>
        <cusip>G26043102</cusip>
        <identifiers>
          <isin value="GB00BJFLFT45"/>
          <ticker value="CREI"/>
        </identifiers>
        <balance>459886</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>695324.57</valUSD>
        <pctVal>0.0279466172</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>Dream Industrial Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Dream Industrial Real Estate Investment Trust TR UNIT</title>
        <cusip>26153W109</cusip>
        <identifiers>
          <isin value="CA26153W1095"/>
          <ticker value="DIR.UN"/>
        </identifiers>
        <balance>82347</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>833267.55</valUSD>
        <pctVal>0.0334908477</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>Iron Mountain Incorporated</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain Incorporated COM</title>
        <cusip>46284V101</cusip>
        <identifiers>
          <isin value="US46284V1017"/>
          <ticker value="IRM"/>
        </identifiers>
        <balance>351564</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11204344.68</valUSD>
        <pctVal>0.4503271501</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>FOUR CORNERS PPTY TR INC</name>
        <lei>549300SVTPZPBDVNER42</lei>
        <title>FOUR CORNERS PPTY TR INC COM</title>
        <cusip>35086T109</cusip>
        <identifiers>
          <isin value="US35086T1097"/>
          <ticker value="FCPT"/>
        </identifiers>
        <balance>84190</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2373316.1</valUSD>
        <pctVal>0.0953887716</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>Carmila</name>
        <lei>222100P6D3QKU33LZQ72</lei>
        <title>Carmila EUR6</title>
        <cusip>F1625D132</cusip>
        <identifiers>
          <isin value="FR0010828137"/>
          <ticker value="CARM"/>
        </identifiers>
        <balance>58942</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>1326664.57</valUSD>
        <pctVal>0.0533215544</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>Retail Estates</name>
        <lei>5493007CO5W5OBFG7L21</lei>
        <title>Retail Estates NPV</title>
        <cusip>B7081U108</cusip>
        <identifiers>
          <isin value="BE0003720340"/>
          <ticker value="RET"/>
        </identifiers>
        <balance>10465</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>985226.31</valUSD>
        <pctVal>0.0395984030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Retail Properties, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>National Retail Properties, Inc. COM</title>
        <cusip>637417106</cusip>
        <identifiers>
          <isin value="US6374171063"/>
          <ticker value="NNN"/>
        </identifiers>
        <balance>200138</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10731399.56</valUSD>
        <pctVal>0.4313184499</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>Aedifica SA</name>
        <lei>529900DTKNXL0AXQFN28</lei>
        <title>Aedifica SA NPV</title>
        <cusip>B0130A108</cusip>
        <identifiers>
          <isin value="BE0003851681"/>
          <ticker value="AED"/>
        </identifiers>
        <balance>30148</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>3834620.54</valUSD>
        <pctVal>0.1541217973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Piedmont Office Realty Trust, Inc.</name>
        <lei>N/A</lei>
        <title>Piedmont Office Realty Trust, Inc. COM CL A</title>
        <cusip>720190206</cusip>
        <identifiers>
          <isin value="US7201902068"/>
          <ticker value="PDM"/>
        </identifiers>
        <balance>154342</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3432566.08</valUSD>
        <pctVal>0.1379623480</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>Eco World Development Group Berhad</name>
        <lei>N/A</lei>
        <title>Eco World Development Group Berhad NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYL8206OO004"/>
          <ticker value="ECOWLD"/>
        </identifiers>
        <balance>1077900</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>196467.18</valUSD>
        <pctVal>0.0078964462</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>Hyprop Investments</name>
        <lei>N/A</lei>
        <title>Hyprop Investments NPV</title>
        <cusip>S3723H102</cusip>
        <identifiers>
          <isin value="ZAE000190724"/>
          <ticker value="HYP"/>
        </identifiers>
        <balance>316678</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.006"/>
        <valUSD>1267169.33</valUSD>
        <pctVal>0.0509303105</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>Kiwi Property Group Limited</name>
        <lei>N/A</lei>
        <title>Kiwi Property Group Limited NPV</title>
        <cusip>Q5349C104</cusip>
        <identifiers>
          <isin value="NZKPGE0001S9"/>
          <ticker value="KPG"/>
        </identifiers>
        <balance>1775033</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.4854426"/>
        <valUSD>1864703.42</valUSD>
        <pctVal>0.0749465141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Klovern AB (publ)</name>
        <lei>549300D4GJAZR1EMIA07</lei>
        <title>Klovern AB (publ) SER'B'NPV</title>
        <cusip>W5177M144</cusip>
        <identifiers>
          <isin value="SE0006593919"/>
          <ticker value="KLOV B"/>
        </identifiers>
        <balance>571296</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.36635"/>
        <valUSD>1402155.81</valUSD>
        <pctVal>0.0563557127</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>Urban Edge Properties</name>
        <lei>N/A</lei>
        <title>Urban Edge Properties COM</title>
        <cusip>91704F104</cusip>
        <identifiers>
          <isin value="US91704F1049"/>
          <ticker value="UE"/>
        </identifiers>
        <balance>148751</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2853044.18</valUSD>
        <pctVal>0.1146700937</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>NEXPOINT RESIDENTIAL TRUST INC</name>
        <lei>549300U2J6XVYBF87166</lei>
        <title>NEXPOINT RESIDENTIAL TRUST INC COM</title>
        <cusip>65341D102</cusip>
        <identifiers>
          <isin value="US65341D1028"/>
          <ticker value="NXRT"/>
        </identifiers>
        <balance>23600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1062000</valUSD>
        <pctVal>0.0426841058</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>Property and Building Corp.</name>
        <lei>N/A</lei>
        <title>Property and Building Corp. ORD ILS1</title>
        <cusip>M8175G102</cusip>
        <identifiers>
          <isin value="IL0006990175"/>
          <ticker value="PTBL"/>
        </identifiers>
        <balance>2580</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.4533"/>
        <valUSD>274884.29</valUSD>
        <pctVal>0.0110482016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</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>9045581</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.645"/>
        <valUSD>8112098.3</valUSD>
        <pctVal>0.3260429961</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>Summarecon Agung</name>
        <lei>N/A</lei>
        <title>Summarecon Agung IDR100</title>
        <cusip>Y8198G144</cusip>
        <identifiers>
          <isin value="ID1000092406"/>
          <ticker value="SMRA"/>
        </identifiers>
        <balance>10179100</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="13882.5"/>
        <valUSD>736276.71</valUSD>
        <pctVal>0.0295925734</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>Premier Investment Corporation</name>
        <lei>N/A</lei>
        <title>Premier Investment Corporation REIT</title>
        <cusip>J7446X104</cusip>
        <identifiers>
          <isin value="JP3041770003"/>
          <ticker value="8956"/>
        </identifiers>
        <balance>1618</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>2289351.3</valUSD>
        <pctVal>0.0920140424</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>Univentures</name>
        <lei>N/A</lei>
        <title>Univentures THB1(NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0136010R10"/>
          <ticker value="UV-R"/>
        </identifiers>
        <balance>727400</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>156383.9</valUSD>
        <pctVal>0.0062854114</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>Beijing North Star Corp. Limited</name>
        <lei>N/A</lei>
        <title>Beijing North Star Corp. Limited 'H'SHS CNY1</title>
        <cusip>Y0770G105</cusip>
        <identifiers>
          <isin value="CNE100000262"/>
          <ticker value="588"/>
        </identifiers>
        <balance>838000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>274360.87</valUSD>
        <pctVal>0.0110271642</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>Capitaland Commercial Trust</name>
        <lei>5493006N1HMMKB2HAT92</lei>
        <title>Capitaland Commercial Trust NPV(REAL ESTATE INVESTMENT TRUSTS UNITS)</title>
        <cusip>Y1091N100</cusip>
        <identifiers>
          <isin value="SG1P32918333"/>
          <ticker value="C61U"/>
        </identifiers>
        <balance>3311971</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>4903641.37</valUSD>
        <pctVal>0.1970880856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Katitas Co Ltd</name>
        <lei>N/A</lei>
        <title>Katitas Co Ltd NPV</title>
        <cusip>J30978100</cusip>
        <identifiers>
          <isin value="JP3932950003"/>
          <ticker value="8919"/>
        </identifiers>
        <balance>29100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>1285907.24</valUSD>
        <pctVal>0.0516834281</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>Invincible Investment Corporation</name>
        <lei>353800JY6M2692VAV685</lei>
        <title>Invincible Investment Corporation REIT</title>
        <cusip>J2442V103</cusip>
        <identifiers>
          <isin value="JP3046190009"/>
          <ticker value="8963"/>
        </identifiers>
        <balance>7471</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>4255951.31</valUSD>
        <pctVal>0.1710560036</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>Yanlord Land Group Limited</name>
        <lei>N/A</lei>
        <title>Yanlord Land Group Limited NPV</title>
        <cusip>Y9729A101</cusip>
        <identifiers>
          <isin value="SG1T57930854"/>
          <ticker value="Z25"/>
        </identifiers>
        <balance>694000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>624636.82</valUSD>
        <pctVal>0.0251055217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</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>1417369</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>5504127.21</valUSD>
        <pctVal>0.2212229265</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>Nippon Accommodations Fund Inc.</name>
        <lei>N/A</lei>
        <title>Nippon Accommodations Fund Inc. REIT</title>
        <cusip>J52066107</cusip>
        <identifiers>
          <isin value="JP3046440008"/>
          <ticker value="3226"/>
        </identifiers>
        <balance>535</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>3380677.04</valUSD>
        <pctVal>0.1358768139</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>Huaku Development</name>
        <lei>N/A</lei>
        <title>Huaku Development TWD10</title>
        <cusip>Y3742X107</cusip>
        <identifiers>
          <isin value="TW0002548005"/>
          <ticker value="2548"/>
        </identifiers>
        <balance>296000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>914515.26</valUSD>
        <pctVal>0.0367563711</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>Central Pattana Public Company Limited</name>
        <lei>N/A</lei>
        <title>Central Pattana Public Company Limited THB0.5(NVDR)</title>
        <cusip>Y1242U128</cusip>
        <identifiers>
          <isin value="TH0481010R10"/>
          <ticker value="CPN-R"/>
        </identifiers>
        <balance>1947398</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>4025786.23</valUSD>
        <pctVal>0.1618051650</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>Starts Proceed Investment Corporation</name>
        <lei>N/A</lei>
        <title>Starts Proceed Investment Corporation REIT</title>
        <cusip>J76703107</cusip>
        <identifiers>
          <isin value="JP3046340000"/>
          <ticker value="8979"/>
        </identifiers>
        <balance>257</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>478904.28</valUSD>
        <pctVal>0.0192482118</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>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>1016000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.977"/>
        <valUSD>1569895.1</valUSD>
        <pctVal>0.0630975221</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 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>4698542</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>18350373.88</valUSD>
        <pctVal>0.7375417133</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 Resources Land Limited</name>
        <lei>5299001HL0TU7X15HK51</lei>
        <title>China Resources Land Limited ORD HKD0.10</title>
        <cusip>G2108Y105</cusip>
        <identifiers>
          <isin value="KYG2108Y1052"/>
          <ticker value="1109"/>
        </identifiers>
        <balance>3396155</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>16921903.66</valUSD>
        <pctVal>0.6801283668</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>City Developments Ltd</name>
        <lei>254900BPLPJS0RJ72373</lei>
        <title>City Developments Ltd NPV</title>
        <cusip>V23130111</cusip>
        <identifiers>
          <isin value="SG1R89002252"/>
          <ticker value="C09"/>
        </identifiers>
        <balance>559700</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>4564367.28</valUSD>
        <pctVal>0.1834519169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Wharf (Holdings) Limited</name>
        <lei>254900JCV4TBBPX9IW91</lei>
        <title>The Wharf (Holdings) Limited NPV</title>
        <cusip>Y8800U127</cusip>
        <identifiers>
          <isin value="HK0004000045"/>
          <ticker value="4"/>
        </identifiers>
        <balance>1315317</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>3346296.26</valUSD>
        <pctVal>0.1344949750</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>K. Wah International Holdings Ltd.</name>
        <lei>529900ZOP51K5LHLPK04</lei>
        <title>K. Wah International Holdings Ltd. HKD0.10</title>
        <cusip>G5321P116</cusip>
        <identifiers>
          <isin value="BMG5321P1169"/>
          <ticker value="173"/>
        </identifiers>
        <balance>1566802</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>875535.02</valUSD>
        <pctVal>0.0351896699</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>Mitsui Fudosan Co Ltd</name>
        <lei>353800ND4ZKNZDYKMF33</lei>
        <title>Mitsui Fudosan Co Ltd NPV</title>
        <cusip>J4509L101</cusip>
        <identifiers>
          <isin value="JP3893200000"/>
          <ticker value="8801"/>
        </identifiers>
        <balance>1092562</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.655"/>
        <valUSD>26684659.72</valUSD>
        <pctVal>1.0725149132</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>MAH Sing Group Bhd</name>
        <lei>N/A</lei>
        <title>MAH Sing Group Bhd NPV</title>
        <cusip>Y5418R108</cusip>
        <identifiers>
          <isin value="MYL8583OO006"/>
          <ticker value="MAHSING"/>
        </identifiers>
        <balance>1290100</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>222671.43</valUSD>
        <pctVal>0.0089496524</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>Road King Infrastructure Limited</name>
        <lei>N/A</lei>
        <title>Road King Infrastructure Limited HKD0.10</title>
        <cusip>G76058109</cusip>
        <identifiers>
          <isin value="BMG760581097"/>
          <ticker value="1098"/>
        </identifiers>
        <balance>260000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>504223.69</valUSD>
        <pctVal>0.0202658543</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>Goodman Prop Trust</name>
        <lei>N/A</lei>
        <title>Goodman Prop Trust NPV</title>
        <cusip>Q4232A119</cusip>
        <identifiers>
          <isin value="NZCPTE0001S9"/>
          <ticker value="GMT"/>
        </identifiers>
        <balance>1275142</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.4854426"/>
        <valUSD>1907479.11</valUSD>
        <pctVal>0.0766657628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guocoland Limited</name>
        <lei>N/A</lei>
        <title>Guocoland Limited NPV</title>
        <cusip>Y29599100</cusip>
        <identifiers>
          <isin value="SG1R95002270"/>
          <ticker value="F17"/>
        </identifiers>
        <balance>351000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34495"/>
        <valUSD>511570.73</valUSD>
        <pctVal>0.0205611480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai Lujiazui Finance&amp;Trade Zone Development Co.,Ltd.</name>
        <lei>N/A</lei>
        <title>Shanghai Lujiazui Finance&amp;Trade Zone Development Co.,Ltd. 'B'SHS CNYU1</title>
        <cusip>Y7686Q119</cusip>
        <identifiers>
          <isin value="CNE000000HH6"/>
          <ticker value="SLUJY"/>
        </identifiers>
        <balance>1373051</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1328097.48</valUSD>
        <pctVal>0.0533791462</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>SP Setia</name>
        <lei>N/A</lei>
        <title>SP Setia NPV</title>
        <cusip>Y8132G101</cusip>
        <identifiers>
          <isin value="MYL8664OO004"/>
          <ticker value="SPSETIA"/>
        </identifiers>
        <balance>1902269</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.0905"/>
        <valUSD>744863.9</valUSD>
        <pctVal>0.0299377114</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>Siam Future Development Public Company Limited</name>
        <lei>N/A</lei>
        <title>Siam Future Development Public Company Limited THB1 (NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0699010R17"/>
          <ticker value="SF-R"/>
        </identifiers>
        <balance>1399032</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="29.95375"/>
        <valUSD>247319.43</valUSD>
        <pctVal>0.0099403095</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>Gemdale Properties &amp; Inv Corp Ltd</name>
        <lei>N/A</lei>
        <title>Gemdale Properties &amp; Inv Corp Ltd HKD0.1</title>
        <cusip>G3911S103</cusip>
        <identifiers>
          <isin value="BMG3911S1035"/>
          <ticker value="535"/>
        </identifiers>
        <balance>5650000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>747631.33</valUSD>
        <pctVal>0.0300489405</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>COLUMBIA PROPERTY TRUST INC</name>
        <lei>549300J5GYF2C9BGCC39</lei>
        <title>COLUMBIA PROPERTY TRUST INC COM NEW</title>
        <cusip>198287203</cusip>
        <identifiers>
          <isin value="US1982872038"/>
          <ticker value="CXP"/>
        </identifiers>
        <balance>144127</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3013695.57</valUSD>
        <pctVal>0.1211270249</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>INDEPENDENCE REALTY TRUST INC</name>
        <lei>N/A</lei>
        <title>INDEPENDENCE REALTY TRUST INC COM</title>
        <cusip>45378A106</cusip>
        <identifiers>
          <isin value="US45378A1060"/>
          <ticker value="IRT"/>
        </identifiers>
        <balance>111044</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1563499.52</valUSD>
        <pctVal>0.0628404698</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>Qts Realty Trust Inc</name>
        <lei>5493006PA4CJK4OG2J54</lei>
        <title>Qts Realty Trust Inc COM CL A</title>
        <cusip>74736A103</cusip>
        <identifiers>
          <isin value="US74736A1034"/>
          <ticker value="QTS"/>
        </identifiers>
        <balance>67809</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3679994.43</valUSD>
        <pctVal>0.1479070353</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>Tritax Big Box REIT Plc</name>
        <lei>213800L6X88MIYPVR714</lei>
        <title>Tritax Big Box REIT Plc ORD GBP0.01</title>
        <cusip>G9101W101</cusip>
        <identifiers>
          <isin value="GB00BG49KP99"/>
          <ticker value="BBOX"/>
        </identifiers>
        <balance>2093662</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>4132321.3</valUSD>
        <pctVal>0.1660870428</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>BANCO ACTINVER SA</name>
        <lei>549300JMTSVQ6LKX5222</lei>
        <title>BANCO ACTINVER SA CBFI (PROLOGIS PROPERTY MEXICO SA DE CV)</title>
        <cusip>P4559M101</cusip>
        <identifiers>
          <isin value="MXCFFI170008"/>
          <ticker value="FIBRAPL 14"/>
        </identifiers>
        <balance>424100</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="18.9075"/>
        <valUSD>942070.61</valUSD>
        <pctVal>0.0378638809</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>Scentre Group Limited</name>
        <lei>529900TUCASM3W86E831</lei>
        <title>Scentre Group Limited NPV STAPLED UNIT</title>
        <cusip>Q8351E109</cusip>
        <identifiers>
          <isin value="AU000000SCG8"/>
          <ticker value="SCG"/>
        </identifiers>
        <balance>6511333</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>17529926.94</valUSD>
        <pctVal>0.7045661540</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>China Vanke Co., Ltd.</name>
        <lei>529900E66UJ2DWY7KW55</lei>
        <title>China Vanke Co., Ltd. 'A'CNY1</title>
        <cusip>Y77421116</cusip>
        <identifiers>
          <isin value="CNE0000000T2"/>
          <ticker value="000002"/>
        </identifiers>
        <balance>720240</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>3328501.45</valUSD>
        <pctVal>0.1337797626</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>Innovative Industrial Propertes Inc</name>
        <lei>5493008BQ0545EZXRR30</lei>
        <title>Innovative Industrial Propertes Inc COM</title>
        <cusip>45781V101</cusip>
        <identifiers>
          <isin value="US45781V1017"/>
          <ticker value="IIPR"/>
        </identifiers>
        <balance>13869</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1052241.03</valUSD>
        <pctVal>0.0422918714</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>Aedas Homes Sa</name>
        <lei>9598005H67MP8U20RW81</lei>
        <title>Aedas Homes Sa EUR1</title>
        <cusip>E01587109</cusip>
        <identifiers>
          <isin value="ES0105287009"/>
          <ticker value="AEDAS"/>
        </identifiers>
        <balance>26095</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>628797.79</valUSD>
        <pctVal>0.0252727602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Great Portland Estates plc</name>
        <lei>213800JMEDD2Q4N1MC42</lei>
        <title>Great Portland Estates plc ORD GBP0.15263157894</title>
        <cusip>G40712211</cusip>
        <identifiers>
          <isin value="GB00BF5H9P87"/>
          <ticker value="GPOR"/>
        </identifiers>
        <balance>290140</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>3309186.5</valUSD>
        <pctVal>0.1330034525</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>GCP Student Living PLC</name>
        <lei>2138004J4ID66FK38H25</lei>
        <title>GCP Student Living PLC ORD GBP0.01</title>
        <cusip>G37745109</cusip>
        <identifiers>
          <isin value="GB00B8460Z43"/>
          <ticker value="DIGS"/>
        </identifiers>
        <balance>508092</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7549448"/>
        <valUSD>1333836.39</valUSD>
        <pctVal>0.0536098056</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>Gemdale Corp</name>
        <lei>N/A</lei>
        <title>Gemdale Corp 'A'CNY1</title>
        <cusip>Y2685G105</cusip>
        <identifiers>
          <isin value="CNE000001790"/>
          <ticker value="GEMDAL"/>
        </identifiers>
        <balance>318800</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.9657"/>
        <valUSD>663821.61</valUSD>
        <pctVal>0.0266804443</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>Metrovacesa</name>
        <lei>959800ZQW44V5U3SEZ73</lei>
        <title>Metrovacesa EUR7.2</title>
        <cusip>E7409N346</cusip>
        <identifiers>
          <isin value="ES0105122024"/>
          <ticker value="MVC"/>
        </identifiers>
        <balance>53667</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8915039"/>
        <valUSD>528199.26</valUSD>
        <pctVal>0.0212294850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Empire State Realty Trust Inc</name>
        <lei>549300VOKY1DUEQSB456</lei>
        <title>Empire State Realty Trust Inc CL A</title>
        <cusip>292104106</cusip>
        <identifiers>
          <isin value="US2921041065"/>
          <ticker value="ESRT"/>
        </identifiers>
        <balance>185783</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2593530.68</valUSD>
        <pctVal>0.1042396778</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>Logan Property Holdings Co. Ltd.</name>
        <lei>549300NJ0E6Q0S1VOG90</lei>
        <title>Logan Property Holdings Co. Ltd. HKD0.1</title>
        <cusip>G55555109</cusip>
        <identifiers>
          <isin value="KYG555551095"/>
          <ticker value="3380"/>
        </identifiers>
        <balance>1688000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7923"/>
        <valUSD>2839631.51</valUSD>
        <pctVal>0.1141310091</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>Vicinity Centres Re Ltd</name>
        <lei>549300S7GOEVR0EGFN47</lei>
        <title>Vicinity Centres Re Ltd NPV (STAPLED SECURITY)</title>
        <cusip>Q9395F102</cusip>
        <identifiers>
          <isin value="AU000000VCX7"/>
          <ticker value="VCX"/>
        </identifiers>
        <balance>3931591</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4250089"/>
        <valUSD>6882638.7</valUSD>
        <pctVal>0.2766283222</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>Northview Apt Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Northview Apt Real Estate Investment Trust TR UNIT</title>
        <cusip>667185102</cusip>
        <identifiers>
          <isin value="CA6671851021"/>
          <ticker value="NVU.UN"/>
        </identifiers>
        <balance>34635</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.29855"/>
        <valUSD>790559.78</valUSD>
        <pctVal>0.0317743289</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>CITIBANK LONDON</name>
        <lei>31OGKFG0Y1795OV0AK56</lei>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>MAR 20 EMINI S&amp;P MAR 20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="ESH0"/>
          <other otherDesc="NT_ID" value="9J31Y1U"/>
        </identifiers>
        <balance>160</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>25848800</valUSD>
        <pctVal>1.0389198805</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>Chicago Mercantile Exchange</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Standard and Poor's 500 Index</indexName>
                <indexIdentifier>SPX</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-03-20</expDate>
            <notionalAmt>25848800</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>356806.19</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <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>118</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6609180</valUSD>
        <pctVal>0.2656374182</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>6609180</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>134619.73</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>MAR 20 IMMEMINI MAR 20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="FAH0"/>
          <other otherDesc="NT_ID" value="9K1BYTU"/>
        </identifiers>
        <balance>27</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5574960</valUSD>
        <pctVal>0.2240698515</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>Chicago Mercantile Exchange</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Mid Cap</indexName>
                <indexIdentifier>MID</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-03-20</expDate>
            <notionalAmt>5574960</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>64348.81</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>
