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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BEIJING JINGKELONG CO LTD ORD CNY1 CL H</name>
        <lei>529900HFDAYN0TSR0V95</lei>
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        <payoffProfile>Long</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNI-PRESIDENT CHINA HOLDINGS LTD ORD HKD.01</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ORD TWD10</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHINA OVERSEAS LAND &amp; INVESTMENT LTD ORD HKD.10</name>
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          <isin value="HK0688002218"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNI-PRESIDENT ENTERPRISES CORP ORD TWD10</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SINOPHARM GROUP CO LTD ORD HKD 1 CL H</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LTD SPONSORED ADR</name>
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          <ticker value="BABA"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ANTA SPORTS PRODUCTS LTD ORD HKD.1</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PETROCHINA CO LTD ORD H HKD1</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CTRIP.COM INTERNATIONAL LTD SPONSORED ADR</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>INDUSTRIAL AND COMMERCIAL BANK OF CHINA LTD ORD HKD1 CL H</name>
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        <name>CSPC PHARMACEUTICAL GROUP LTD ORD HKD.1</name>
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        <name>POLY CULTURE GROUP CORP LTD ORD HKD1 CL H</name>
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        <name>DONGFENG MOTOR GROUP CO LTD ORD H HKD NPV</name>
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        <name>TRAVELSKY TECHNOLOGY LTD ORD H HKD1</name>
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        <name>TONG REN TANG TECHNOLOGIES CO LTD ORD HKD1 CL H</name>
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        <name>CHINA LIFE INSURANCE CO LTD ORD HKD1 CLASS H</name>
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        <name>AIA GROUP LTD ORD USD1 (HKE)</name>
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        <name>JIANGLING MOTORS CORP LTD ORD HKD1 CL B</name>
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        <name>COSCO SHIPPING Ports Ltd ORD HKD.1</name>
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        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>3271369.34000000</valUSD>
        <pctVal>0.481295441554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAOZUN INC SPONSORED ADR</name>
        <lei>549300IF0HZ7T4762633</lei>
        <title>BAOZUN INC SPONSORED ADR</title>
        <cusip>06684L103</cusip>
        <identifiers>
          <ticker value="BZUN"/>
          <other otherDesc="Internal Identifier" value="604728"/>
        </identifiers>
        <balance>228685.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9764849.50000000</valUSD>
        <pctVal>1.436639236772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XINCHEN CHINA POWER HOLDINGS LTD ORD HKD.01</name>
        <lei>529900OPZE8WLBH24074</lei>
        <title>XINCHEN CHINA POWER HOLDINGS LTD ORD HKD.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG9830E1098"/>
          <other otherDesc="Internal Identifier" value="562036"/>
        </identifiers>
        <balance>1900000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>75147.68000000</valUSD>
        <pctVal>0.011055992787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA PETROLEUM &amp; CHEMICAL CORP ORD H CNY1</name>
        <lei>529900A2OB24EZ5B3J19</lei>
        <title>CHINA PETROLEUM &amp; CHEMICAL CORP ORD H CNY1</title>
        <cusip>Y15010104</cusip>
        <identifiers>
          <ticker value="386"/>
          <other otherDesc="Internal Identifier" value="195797"/>
        </identifiers>
        <balance>22779000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>13543186.31000000</valUSD>
        <pctVal>1.992521527737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ORIENTAL EDUCATION &amp; TECH GROUP INC ADR USD NPV SPONS</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>NEW ORIENTAL EDUCATION &amp; TECH GROUP INC ADR USD NPV SPONS</title>
        <cusip>647581107</cusip>
        <identifiers>
          <ticker value="EDU"/>
          <other otherDesc="Internal Identifier" value="369670"/>
        </identifiers>
        <balance>79040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8754470.40000000</valUSD>
        <pctVal>1.287988685724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</name>
        <lei>N/A</lei>
        <title>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</title>
        <cusip>457756500</cusip>
        <identifiers>
          <ticker value="INFXX"/>
          <other otherDesc="Internal Identifier" value="170875"/>
        </identifiers>
        <balance>34090117.16000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34090117.16000000</valUSD>
        <pctVal>5.015458753175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MOBILE LTD ORD HKD NPV</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>CHINA MOBILE LTD ORD HKD NPV</title>
        <cusip>Y14965100</cusip>
        <identifiers>
          <ticker value="941"/>
          <other otherDesc="Internal Identifier" value="49551"/>
        </identifiers>
        <balance>1264500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>10462346.42000000</valUSD>
        <pctVal>1.539257453550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA RESOURCES LAND LTD ORD HKD.1</name>
        <lei>5299001HL0TU7X15HK51</lei>
        <title>CHINA RESOURCES LAND LTD ORD HKD.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG2108Y1052"/>
          <other otherDesc="Internal Identifier" value="42612"/>
        </identifiers>
        <balance>1634000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>6848377.75000000</valUSD>
        <pctVal>1.007557585387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COSCO SHIPPING ENERGY TRANSPORTATION CO LTD ORD HKD1 CL H</name>
        <lei>529900IGB8FVHRCR1W95</lei>
        <title>COSCO SHIPPING ENERGY TRANSPORTATION CO LTD ORD HKD1 CL H</title>
        <cusip>Y1503Y108</cusip>
        <identifiers>
          <ticker value="1138"/>
          <other otherDesc="Internal Identifier" value="28793"/>
        </identifiers>
        <balance>4680000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>2071932.53000000</valUSD>
        <pctVal>0.304830050738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAIDU INC ADR CLASS A</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC ADR CLASS A</title>
        <cusip>056752108</cusip>
        <identifiers>
          <ticker value="BIDU"/>
          <other otherDesc="Internal Identifier" value="344219"/>
        </identifiers>
        <balance>40792.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4191785.92000000</valUSD>
        <pctVal>0.616710388093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHONGQING CHANGAN AUTOMOBILE CO LTD ORD B HKD1</name>
        <lei>N/A</lei>
        <title>CHONGQING CHANGAN AUTOMOBILE CO LTD ORD B HKD1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE000000N14"/>
          <other otherDesc="Internal Identifier" value="316847"/>
        </identifiers>
        <balance>1734309.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>767814.37000000</valUSD>
        <pctVal>0.112963569023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</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 ORD HKD1</name>
        <lei>5299006GJZSGP78B8S35</lei>
        <title>CK Asset Holdings Ltd ORD HKD1</title>
        <cusip>G2103F101</cusip>
        <identifiers>
          <ticker value="1113"/>
          <other otherDesc="Internal Identifier" value="603522"/>
        </identifiers>
        <balance>974000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>6598629.73000000</valUSD>
        <pctVal>0.970813772301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINKO INTERNATIONAL CO LTD ORD TWD10</name>
        <lei>N/A</lei>
        <title>GINKO INTERNATIONAL CO LTD ORD TWD10</title>
        <cusip>G39010106</cusip>
        <identifiers>
          <ticker value="8406"/>
          <other otherDesc="Internal Identifier" value="524647"/>
        </identifiers>
        <balance>631000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.04600000"/>
        <valUSD>3577143.59000000</valUSD>
        <pctVal>0.526282031992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNOOC LTD ORD HKD NPV</name>
        <lei>549300XIVJCBIGMRUD48</lei>
        <title>CNOOC LTD ORD HKD NPV</title>
        <cusip>Y1662W117</cusip>
        <identifiers>
          <ticker value="883"/>
          <other otherDesc="Internal Identifier" value="202855"/>
        </identifiers>
        <balance>4628800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>7063173.55000000</valUSD>
        <pctVal>1.039159104097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NINE DRAGONS PAPER HOLDINGS LTD ORD HKD.1</name>
        <lei>529900TBMYEYJ2LEV906</lei>
        <title>NINE DRAGONS PAPER HOLDINGS LTD ORD HKD.1</title>
        <cusip>G65318100</cusip>
        <identifiers>
          <ticker value="2689"/>
          <other otherDesc="Internal Identifier" value="364707"/>
        </identifiers>
        <balance>9453301.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84080000"/>
        <valUSD>7960268.26000000</valUSD>
        <pctVal>1.171142854536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2019-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
