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            <regLei>549300SRAF55EHI5J317</regLei>
            <regStreet1>100 FEDERAL STREET</regStreet1>
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                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292648"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>8728155.05</valUSD>
                <pctVal>2.366379900892</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
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                        <amtCurSold>8728155.05</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>8747727.62</amtCurPur>
                        <curPur>EUR</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-19572.57</unrealizedAppr>
                    </fwdDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292648"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>8728155.05</valUSD>
                <pctVal>2.366379900892</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
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                        <amtCurSold>8711091.17</amtCurSold>
                        <curSold>EUR</curSold>
                        <amtCurPur>8728155.05</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-17063.88</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>JP MORGANCHASE BANK</name>
                <lei>7H6GLXDRUGQFU57RNE97</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292650"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>875032.59</valUSD>
                <pctVal>0.23723908681</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>JP MORGANCHASE BANK</counterpartyName>
                            <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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                        <amtCurSold>875032.59</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>887912.92</amtCurPur>
                        <curPur>EUR</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-12880.33</unrealizedAppr>
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                </derivativeInfo>
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                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>CITIBANK N.A.</name>
                <lei>E57ODZWZ7FF32TWEFA76</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292656"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>3173082.4</valUSD>
                <pctVal>0.860287010511</pctVal>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>CITIBANK N.A.</counterpartyName>
                            <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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                        <amtCurSold>1515230.4</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>1523012.02</amtCurPur>
                        <curPur>EUR</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-7781.62</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
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            </invstOrSec>
            <invstOrSec>
                <name>JP MORGANCHASE BANK</name>
                <lei>7H6GLXDRUGQFU57RNE97</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292714"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>28526120.4</valUSD>
                <pctVal>7.734009945777</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>JP MORGANCHASE BANK</counterpartyName>
                            <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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                        <amtCurSold>28526120.4</amtCurSold>
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                        <amtCurPur>28881004.22</amtCurPur>
                        <curPur>CHF</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-354883.82</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>CITIBANK N.A.</name>
                <lei>E57ODZWZ7FF32TWEFA76</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292734"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>4844306.36</valUSD>
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                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>CITIBANK N.A.</counterpartyName>
                            <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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                        <amtCurSold>4844306.36</amtCurSold>
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                        <amtCurPur>4855405.21</amtCurPur>
                        <curPur>DKK</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-11098.85</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292754"/>
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                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>10512459.27</valUSD>
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                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
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                        <amtCurSold>10512459.27</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>10728376</amtCurPur>
                        <curPur>CHF</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-215916.73</unrealizedAppr>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292754"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>10512459.27</valUSD>
                <pctVal>2.850140972859</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
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                        <amtCurSold>10556530.57</amtCurSold>
                        <curSold>CHF</curSold>
                        <amtCurPur>10512459.27</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>44071.3</unrealizedAppr>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>BANK OF AMERICA N.A.</name>
                <lei>B4TYDEB6GKMZO031MB27</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292936"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>2987633.02</valUSD>
                <pctVal>0.810007921407</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BANK OF AMERICA N.A.</counterpartyName>
                            <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
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                        <amtCurSold>2824553.62</amtCurSold>
                        <curSold>GBP</curSold>
                        <amtCurPur>2987633.02</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-163079.4</unrealizedAppr>
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                <securityLending>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>HSBC BANK USA</name>
                <lei>1IE8VN30JCEQV1H4R804</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292956"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>1248524.42</valUSD>
                <pctVal>0.338500298899</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>HSBC BANK USA</counterpartyName>
                            <counterpartyLei>1IE8VN30JCEQV1H4R804</counterpartyLei>
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                        <amtCurSold>1248524.42</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>1235997.47</amtCurPur>
                        <curPur>GBP</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>12526.95</unrealizedAppr>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>HSBC BANK USA</name>
                <lei>1IE8VN30JCEQV1H4R804</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292956"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>1248524.42</valUSD>
                <pctVal>0.338500298899</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>HSBC BANK USA</counterpartyName>
                            <counterpartyLei>1IE8VN30JCEQV1H4R804</counterpartyLei>
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                        <amtCurSold>1238617.96</amtCurSold>
                        <curSold>GBP</curSold>
                        <amtCurPur>1248524.42</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-9906.46</unrealizedAppr>
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                <securityLending>
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                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NATWEST MARKETS PLC</name>
                <lei>RR3QWICWWIPCS8A4S074</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2293334"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>434550.69</valUSD>
                <pctVal>0.117815507727</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>NATWEST MARKETS PLC</counterpartyName>
                            <counterpartyLei>RR3QWICWWIPCS8A4S074</counterpartyLei>
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                        <amtCurSold>434550.69</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>434258.91</amtCurPur>
                        <curPur>GBP</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>291.78</unrealizedAppr>
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            </invstOrSec>
            <invstOrSec>
                <name>NATWEST MARKETS PLC</name>
                <lei>RR3QWICWWIPCS8A4S074</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2293334"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>434550.69</valUSD>
                <pctVal>0.117815507727</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>NATWEST MARKETS PLC</counterpartyName>
                            <counterpartyLei>RR3QWICWWIPCS8A4S074</counterpartyLei>
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                        <curSold>GBP</curSold>
                        <amtCurPur>434550.69</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-3464.08</unrealizedAppr>
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            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2293342"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>14806428.17</valUSD>
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                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
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                        <amtCurSold>9772185.17</amtCurSold>
                        <curSold>GBP</curSold>
                        <amtCurPur>10380170.99</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-607985.82</unrealizedAppr>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>GOLDMAN SACHS INTL FX</name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2293346"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>4603157.37</valUSD>
                <pctVal>1.248009346604</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>GOLDMAN SACHS INTL FX</counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
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                <pctVal>0.782299159681</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>GOLDMAN SACHS INTL FX</counterpartyName>
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                        <curSold>CAD</curSold>
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                        <curPur>USD</curPur>
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                        <unrealizedAppr>5167.03</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>STATE STREET B AND T CO</name>
                <lei>571474TGEMMWANRLN572</lei>
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                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2310364"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>2593514.75</valUSD>
                <pctVal>0.703154462989</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>STATE STREET B AND T CO</counterpartyName>
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                        <amtCurSold>2598110.04</amtCurSold>
                        <curSold>CAD</curSold>
                        <amtCurPur>2593514.75</amtCurPur>
                        <curPur>USD</curPur>
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                        <unrealizedAppr>4595.29</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>JP MORGANCHASE BANK</name>
                <lei>7H6GLXDRUGQFU57RNE97</lei>
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                <identifiers>
                    <other otherDesc="Internal ID" value="2310366"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>1549360.71</valUSD>
                <pctVal>0.420063120141</pctVal>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>JP MORGANCHASE BANK</counterpartyName>
                            <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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                        <amtCurSold>1549360.71</amtCurSold>
                        <curSold>USD</curSold>
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                        <curPur>CAD</curPur>
                        <settlementDt>2020-01-15</settlementDt>
                        <unrealizedAppr>4811.9</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
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                <identifiers>
                    <other otherDesc="Internal ID" value="2310374"/>
                </identifiers>
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                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>2551112.94</valUSD>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
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                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
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                        <amtCurSold>2551112.94</amtCurSold>
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                        <curPur>CAD</curPur>
                        <settlementDt>2020-01-15</settlementDt>
                        <unrealizedAppr>-9241.29</unrealizedAppr>
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                </derivativeInfo>
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            </invstOrSec>
            <invstOrSec>
                <name>CITIBANK N.A.</name>
                <lei>E57ODZWZ7FF32TWEFA76</lei>
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                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2310376"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>5905224.32</valUSD>
                <pctVal>1.601026111596</pctVal>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>CITIBANK N.A.</counterpartyName>
                            <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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                        <amtCurSold>5915360.73</amtCurSold>
                        <curSold>CAD</curSold>
                        <amtCurPur>5905224.32</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2020-01-15</settlementDt>
                        <unrealizedAppr>10136.41</unrealizedAppr>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>UBS AG</name>
                <lei>BFM8T61CT2L1QCEMIK50</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2320678"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>1071707.23</valUSD>
                <pctVal>0.290561571625</pctVal>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>UBS AG</counterpartyName>
                            <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
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                        <amtCurSold>1076245.7</amtCurSold>
                        <curSold>JPY</curSold>
                        <amtCurPur>1071707.23</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2020-02-19</settlementDt>
                        <unrealizedAppr>4538.47</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>JP MORGANCHASE BANK</name>
                <lei>7H6GLXDRUGQFU57RNE97</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2321664"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>4300908.23</valUSD>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
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                            <counterpartyName>JP MORGANCHASE BANK</counterpartyName>
                            <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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                        <amtCurSold>4300908.23</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>4336136.93</amtCurPur>
                        <curPur>SGD</curPur>
                        <settlementDt>2020-02-19</settlementDt>
                        <unrealizedAppr>-35228.7</unrealizedAppr>
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                <securityLending>
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            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
                <lei>N/A</lei>
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                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2321675"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>57081.27</valUSD>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
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                        <amtCurSold>57081.27</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>57058.45</amtCurPur>
                        <curPur>HKD</curPur>
                        <settlementDt>2020-02-19</settlementDt>
                        <unrealizedAppr>22.82</unrealizedAppr>
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                <securityLending>
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            </invstOrSec>
            <invstOrSec>
                <name>HSBC BANK USA</name>
                <lei>1IE8VN30JCEQV1H4R804</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2321701"/>
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                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>865886.86</valUSD>
                <pctVal>0.234759493869</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>HSBC BANK USA</counterpartyName>
                            <counterpartyLei>1IE8VN30JCEQV1H4R804</counterpartyLei>
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                        <amtCurSold>864122.6</amtCurSold>
                        <curSold>CNY</curSold>
                        <amtCurPur>865886.86</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2020-02-19</settlementDt>
                        <unrealizedAppr>-1764.26</unrealizedAppr>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>JP MORGANCHASE BANK</name>
                <lei>7H6GLXDRUGQFU57RNE97</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2322074"/>
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                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>10819104.7</valUSD>
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                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>JP MORGANCHASE BANK</counterpartyName>
                            <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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                        <amtCurSold>10819104.7</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>11010961.45</amtCurPur>
                        <curPur>KRW</curPur>
                        <settlementDt>2020-02-19</settlementDt>
                        <unrealizedAppr>-191856.75</unrealizedAppr>
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                <securityLending>
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            </invstOrSec>
            <invstOrSec>
                <name>BANK OF AMERICA N.A.</name>
                <lei>B4TYDEB6GKMZO031MB27</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2322394"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>47612.02</valUSD>
                <pctVal>0.01290858452</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BANK OF AMERICA N.A.</counterpartyName>
                            <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
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                        <amtCurSold>47612.02</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>47879.56</amtCurPur>
                        <curPur>JPY</curPur>
                        <settlementDt>2020-02-19</settlementDt>
                        <unrealizedAppr>-267.54</unrealizedAppr>
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            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC WHOLESALE, LONDON </name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2322414"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>7744001.89</valUSD>
                <pctVal>2.099556013841</pctVal>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC WHOLESALE, LONDON </counterpartyName>
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                        <amtCurPur>7744001.89</amtCurPur>
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            <invstOrSec>
                <name>STATE STREET B AND T CO</name>
                <lei>571474TGEMMWANRLN572</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2322796"/>
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                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>8121877.06</valUSD>
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                <assetCat>DFE</assetCat>
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                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
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                            <counterpartyName>STATE STREET B AND T CO</counterpartyName>
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                        <curPur>JPY</curPur>
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            <invstOrSec>
                <name>GOLDMAN SACHS INTL FX</name>
                <lei>N/A</lei>
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                    <other otherDesc="Internal ID" value="2323254"/>
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                <units>NC</units>
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                <invCountry>US</invCountry>
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                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
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                            <counterpartyName>GOLDMAN SACHS INTL FX</counterpartyName>
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            <invstOrSec>
                <name>HSBC BANK USA</name>
                <lei>1IE8VN30JCEQV1H4R804</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2292634"/>
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                <units>NC</units>
                <curCd>N/A</curCd>
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                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
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                            <counterpartyName>HSBC BANK USA</counterpartyName>
                            <counterpartyLei>1IE8VN30JCEQV1H4R804</counterpartyLei>
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                        <amtCurSold>2080532.56</amtCurSold>
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                        <amtCurPur>2094034.72</amtCurPur>
                        <curPur>EUR</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-13502.16</unrealizedAppr>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GOLDMAN SACHS INTL FX</name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2291794"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>2470342.86</valUSD>
                <pctVal>0.669760064839</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>GOLDMAN SACHS INTL FX</counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
                        </counterparties>
                        <amtCurSold>2488547.22</amtCurSold>
                        <curSold>EUR</curSold>
                        <amtCurPur>2470342.86</amtCurPur>
                        <curPur>USD</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>18204.36</unrealizedAppr>
                    </fwdDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GOLDMAN SACHS INTL FX</name>
                <lei>N/A</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2291794"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>2470342.86</valUSD>
                <pctVal>0.669760064839</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>GOLDMAN SACHS INTL FX</counterpartyName>
                            <counterpartyLei>N/A</counterpartyLei>
                        </counterparties>
                        <amtCurSold>2470342.86</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>2475028.37</amtCurPur>
                        <curPur>EUR</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-4685.51</unrealizedAppr>
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                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK OF AMERICA N.A.</name>
                <lei>B4TYDEB6GKMZO031MB27</lei>
                <title>CURRENCY FORWARDS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2290395"/>
                </identifiers>
                <balance>1</balance>
                <units>NC</units>
                <curCd>N/A</curCd>
                <valUSD>2262201.37</valUSD>
                <pctVal>0.613328684364</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DFE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <fwdDeriv derivCat="FWD">
                        <counterparties>
                            <counterpartyName>BANK OF AMERICA N.A.</counterpartyName>
                            <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
                        </counterparties>
                        <amtCurSold>2262201.37</amtCurSold>
                        <curSold>USD</curSold>
                        <amtCurPur>2267649.37</amtCurPur>
                        <curPur>EUR</curPur>
                        <settlementDt>2019-12-18</settlementDt>
                        <unrealizedAppr>-5448</unrealizedAppr>
                    </fwdDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LSL PROPERTY SERVICES PLC</name>
                <lei>213800T4VM5VR3C7S706</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B1G5HX72"/>
                </identifiers>
                <balance>714058</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>2216378.35</valUSD>
                <pctVal>0.600905134037</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>COMPUGROUP MEDICAL SE</name>
                <lei>529900CUXZGOCJZR7O57</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="DE0005437305"/>
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                <balance>149126</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>10195248.05</valUSD>
                <pctVal>2.764138575899</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>DE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AIR CANADA</name>
                <lei>4B4HI3CGXMBDC0G6BM51</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CA0089118776"/>
                </identifiers>
                <balance>103700</balance>
                <units>NS</units>
                <currencyConditional curCd="CAD" exchangeRt=".752841978"/>
                <valUSD>3907389.14</valUSD>
                <pctVal>1.0593724645</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>MINERAL RESOURCES LTD</name>
                <lei>5299007V1ACKFFX2P066</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AU000000MIN4"/>
                </identifiers>
                <balance>567045</balance>
                <units>NS</units>
                <currencyConditional curCd="AUD" exchangeRt=".676400064"/>
                <valUSD>5956520.23</valUSD>
                <pctVal>1.61493347343</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AU</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DIASORIN SPA</name>
                <lei>8156002878BDF0EE4348</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="IT0003492391"/>
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                <balance>47888</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
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                <pctVal>1.735210460551</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IT</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AURELIUS EQUITY OPPORTUNITIES SE  AND  CO KGAA</name>
                <lei>3912001SWR0QKOSUHR50</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="DE000A0JK2A8"/>
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                <balance>109972</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>4517110.02</valUSD>
                <pctVal>1.224680164389</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>DE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <loanByFundCondition isLoanByFund="Y" loanVal="4065278"/>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MEGACABLE HOLDINGS SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MX01ME090003"/>
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                <balance>1717234</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".051092093"/>
                <valUSD>6056490.64</valUSD>
                <pctVal>1.642037479666</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>SARANA MENARA NUSANTARA TBK PT</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000128804"/>
                </identifiers>
                <balance>106628300</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000070897"/>
                <valUSD>5518515.35</valUSD>
                <pctVal>1.496181464719</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PALTAC CORPORATION</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3782200004"/>
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                <balance>174200</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>8628806.43</valUSD>
                <pctVal>2.339444474539</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MARWYN MATERIALS LTD</name>
                <lei>213800ZQKCIVCPN9H229</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JE00B2419D89"/>
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                <balance>10210868</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>9191175.73</valUSD>
                <pctVal>2.491914200475</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>VIEWORKS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7100120005"/>
                </identifiers>
                <balance>122384</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000846633"/>
                <valUSD>2911561.11</valUSD>
                <pctVal>0.789383283346</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CLINIGEN GROUP PLC</name>
                <lei>213800OBIKGI2JYYS227</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B89J2419"/>
                </identifiers>
                <balance>324494</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>3655308.14</valUSD>
                <pctVal>0.991028191469</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>I-SENS INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7099190001"/>
                </identifiers>
                <balance>53245</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000846633"/>
                <valUSD>1158528.98</valUSD>
                <pctVal>0.31410070939</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>OPEN HOUSE CO LTD</name>
                <lei>529900WQOGPBIJEHW865</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3173540000"/>
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                <balance>293100</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>7845822.52</valUSD>
                <pctVal>2.127161652255</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>DALATA HOTEL GROUP PLC</name>
                <lei>635400L2CWET7ONOBJ04</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="IE00BJMZDW83"/>
                </identifiers>
                <balance>1417116</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>8462668.51</valUSD>
                <pctVal>2.29440111401</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>APPLUS SERVICES SA</name>
                <lei>213800M9XCA6NR98E873</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ES0105022000"/>
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                <balance>572695</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>6909397.08</valUSD>
                <pctVal>1.873277718341</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ES</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>EURONEXT</name>
                <lei>724500QJ4QSZ3H9QU415</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="NL0006294274"/>
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                <balance>148272</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>11198742.19</valUSD>
                <pctVal>3.036206194995</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>NL</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>TECHNOPRO HOLDINGS INC</name>
                <lei>3538001DJ8I5PJQNHU53</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3545240008"/>
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                <balance>109500</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>7285322.61</valUSD>
                <pctVal>1.975198755872</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>METAWATER CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3921260000"/>
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                <balance>79300</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>2891674.28</valUSD>
                <pctVal>0.783991560292</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TCI CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0008436007"/>
                </identifiers>
                <balance>139990</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032775602"/>
                <valUSD>1445300.8</valUSD>
                <pctVal>0.391850367491</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SOLASTO CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3436250009"/>
                </identifiers>
                <balance>401500</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>4806845.18</valUSD>
                <pctVal>1.303233244081</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK OF IRELAND GROUP PLC</name>
                <lei>635400C8EK6DRI12LJ39</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="IE00BD1RP616"/>
                </identifiers>
                <balance>526643</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>2645963.2</valUSD>
                <pctVal>0.717374301798</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LIBERTY LATIN AMERICA LTD</name>
                <lei>213800YWQHEAX7CAVO83</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G9001E128</cusip>
                <identifiers>
                    <isin value="BMG9001E1286"/>
                </identifiers>
                <balance>332900</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>5972226</valUSD>
                <pctVal>1.619191626297</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>MPC CONTAINER SHIPS AS</name>
                <lei>213800MXS7CXYJ2Q1805</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="NO0010791353"/>
                </identifiers>
                <balance>299870</balance>
                <units>NS</units>
                <currencyConditional curCd="NOK" exchangeRt=".10845046"/>
                <valUSD>621151.85</valUSD>
                <pctVal>0.168406867754</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>NO</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ASHTEAD GROUP PLC</name>
                <lei>2138007UTBN8X9K1A235</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB0000536739"/>
                </identifiers>
                <balance>274597</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>8345700.94</valUSD>
                <pctVal>2.262688832879</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MINEBEA MITSUMI INC</name>
                <lei>353800CCB0CZ75YZ4010</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3906000009"/>
                </identifiers>
                <balance>440390</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>8548605.01</valUSD>
                <pctVal>2.317700242542</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TREND MICRO INC/JAPAN</name>
                <lei>3538005O5UJ5RNAGVE16</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3637300009"/>
                </identifiers>
                <balance>116600</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>6297806.62</valUSD>
                <pctVal>1.707463137387</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>FAIRFAX FINANCIAL HOLDINGS LTD</name>
                <lei>GLS7OQD0WOEDI8YAP031</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CA3039011026"/>
                </identifiers>
                <balance>15300</balance>
                <units>NS</units>
                <currencyConditional curCd="CAD" exchangeRt=".752841978"/>
                <valUSD>6911204.55</valUSD>
                <pctVal>1.873767760126</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>BRICKWORKS LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AU000000BKW4"/>
                </identifiers>
                <balance>769905</balance>
                <units>NS</units>
                <currencyConditional curCd="AUD" exchangeRt=".676400064"/>
                <valUSD>9816397.46</valUSD>
                <pctVal>2.661424495262</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AU</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BERKELEY GROUP HOLDINGS PLC</name>
                <lei>2138009OQSSLVVHQAL78</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B02L3W35"/>
                </identifiers>
                <balance>153968</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>9131953.4</valUSD>
                <pctVal>2.475857825377</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CAIRN ENERGY PLC</name>
                <lei>213800ZJEUQ8ZOC9AL24</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B74CDH82"/>
                </identifiers>
                <balance>2231633</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>5192220.25</valUSD>
                <pctVal>1.407716243607</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SCHRODERS PLC</name>
                <lei>2138001YYBULX5SZ2H24</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB0002405495"/>
                </identifiers>
                <balance>131243</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>5599608.09</valUSD>
                <pctVal>1.51816735165</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DART GROUP PLC</name>
                <lei>I72RQ3PNLDPW8R7JIJ56</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B1722W11"/>
                </identifiers>
                <balance>263009</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>5041014.9</valUSD>
                <pctVal>1.366721405741</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DOMINO'S PIZZA GROUP PLC</name>
                <lei>213800Q6ZKHAOV48JL75</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00BYN59130"/>
                </identifiers>
                <balance>2511924</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.293299673"/>
                <valUSD>10064381.17</valUSD>
                <pctVal>2.728657909853</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CI FINANCIAL CORP</name>
                <lei>549300M9W7JJQSVCEM78</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CA1254911003"/>
                </identifiers>
                <balance>267300</balance>
                <units>NS</units>
                <currencyConditional curCd="CAD" exchangeRt=".752841978"/>
                <valUSD>4209829.1</valUSD>
                <pctVal>1.141370073213</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>COGECO COMMUNICATIONS INC</name>
                <lei>549300XHH6LJM6IAXV57</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CA19239C1068"/>
                </identifiers>
                <balance>119700</balance>
                <units>NS</units>
                <currencyConditional curCd="CAD" exchangeRt=".752841978"/>
                <valUSD>10338915.15</valUSD>
                <pctVal>2.803089641263</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>HOME CAPITAL GROUP INC</name>
                <lei>529900BYMJZJJLBC8L85</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CA4369131079"/>
                </identifiers>
                <balance>165300</balance>
                <units>NS</units>
                <currencyConditional curCd="CAD" exchangeRt=".752841978"/>
                <valUSD>4292100.43</valUSD>
                <pctVal>1.163675499802</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>HELLENIC EXCHANGES - ATHENS STOCK EXCHANGE SA</name>
                <lei>549300GSRN07MNENPL97</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GRS395363005"/>
                </identifiers>
                <balance>222676</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>1127357.27</valUSD>
                <pctVal>0.305649426433</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>FOMENTO DE CONSTRUCCIONES Y CONTRATAS SA</name>
                <lei>95980020140005178328</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ES0122060314"/>
                </identifiers>
                <balance>141782</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
                <valUSD>1712120.37</valUSD>
                <pctVal>0.464190565849</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ES</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AMANO CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3124400007"/>
                </identifiers>
                <balance>196500</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>5881351.67</valUSD>
                <pctVal>1.59455375188</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNIVERSAL ENTERTAINMENT CORP</name>
                <lei>353800BBJTHSMSQ31V91</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3126130008"/>
                </identifiers>
                <balance>110300</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>3981767.5</valUSD>
                <pctVal>1.0795379468</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CTCI CORP</name>
                <lei>54930026E4DTBSJUWH86</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y18229107</cusip>
                <identifiers>
                    <isin value="TW0009933002"/>
                </identifiers>
                <balance>3897000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032775602"/>
                <valUSD>4808903.49</valUSD>
                <pctVal>1.303791293678</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DAIHO CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>J09177106</cusip>
                <identifiers>
                    <isin value="JP3498600000"/>
                </identifiers>
                <balance>240800</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
                <valUSD>6408422.59</valUSD>
                <pctVal>1.737453370904</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DAISEKI CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3485600005"/>
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                <balance>106000</balance>
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                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ELITE MATERIAL CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y2290G102</cusip>
                <identifiers>
                    <isin value="TW0002383007"/>
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                <balance>1470000</balance>
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                <currencyConditional curCd="TWD" exchangeRt=".032775602"/>
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                <pctVal>1.593638655843</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>KYUDENKO CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3247050002"/>
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                <balance>177700</balance>
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                <currencyConditional curCd="JPY" exchangeRt=".009139097"/>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>MELCO INTERNATIONAL DEVELOPMENT LTD</name>
                <lei>5299005YLKSGQRHYMI33</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="HK0200030994"/>
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                <balance>2933000</balance>
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                <currencyConditional curCd="HKD" exchangeRt=".127743287"/>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>SANWA SHUTTER</name>
                <lei>5299003X6BCA4ROO5A70</lei>
                <title>ORDINARY SHARES</title>
                <cusip>J68596121</cusip>
                <identifiers>
                    <isin value="JP3344400001"/>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>CHINA TRADITIONAL CHINESE MEDICINE HOLDINGS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y1507S107</cusip>
                <identifiers>
                    <isin value="HK0000056256"/>
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                <balance>3602000</balance>
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                <currencyConditional curCd="HKD" exchangeRt=".127743287"/>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>EURAZEO SE</name>
                <lei>969500C656AA39O94N60</lei>
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                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="FR0000121121"/>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>FR</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>MOTOR OIL HELLAS CORINTH REFINERIES SA</name>
                <lei>213800U3Y9UL7Y4QVM11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GRS426003000"/>
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                <assetCat>EC</assetCat>
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                <invCountry>GR</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>MODEC INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>J4636K109</cusip>
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                    <isin value="JP3888250002"/>
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                <balance>168300</balance>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>ADMIRAL GROUP PLC</name>
                <lei>213800FGVM7Z9EJB2685</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B02J6398"/>
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                <balance>266078</balance>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>NEXITY SA</name>
                <lei>969500JJ71T2DIPDVV84</lei>
                <title>ORDINARY SHARES</title>
                <cusip>F6527B126</cusip>
                <identifiers>
                    <isin value="FR0010112524"/>
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                <balance>176550</balance>
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                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>FR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>SINO-AMERICAN SILICON PRODUCTS INC</name>
                <lei>529900DMZ4STK7NEXO95</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y8022X107</cusip>
                <identifiers>
                    <isin value="TW0005483002"/>
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                <balance>2428000</balance>
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                <currencyConditional curCd="TWD" exchangeRt=".032775602"/>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>CTS EVENTIM AG  AND  CO KGAA</name>
                <lei>529900FDHSN08UBJII80</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="DE0005470306"/>
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                <balance>136407</balance>
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                <currencyConditional curCd="EUR" exchangeRt="1.10179968"/>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>DE</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>AFREN PLC</name>
                <lei>213800B4XZJ3ZDM7CL47</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B0672758"/>
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                <balance>4060504</balance>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
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                <fairValLevel>3</fairValLevel>
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            <invstOrSec>
                <name>RIGHTMOVE PLC</name>
                <lei>2138001JXGCFKBXYB828</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00BGDT3G23"/>
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                <balance>919860</balance>
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                <assetCat>EC</assetCat>
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                <invCountry>GB</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>CONSTELLATION SOFTWARE INC/CANADA</name>
                <lei>549300B6PYHMCTDWQV29</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CA21037X1006"/>
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                <balance>6515</balance>
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                <currencyConditional curCd="CAD" exchangeRt=".752841978"/>
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                <assetCat>EC</assetCat>
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                <invCountry>CA</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>KOBE BUSSAN CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3291200008"/>
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                <assetCat>EC</assetCat>
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                <invCountry>JP</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                <name>State Street Institutional U.S. Government Money Market Fund, Premier Class</name>
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                <issuerCat>RF</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                <name>PUTNAM CASH COLLATERAL POOL LLC</name>
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                <cusip>N/A</cusip>
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                    <other otherDesc="Internal ID" value="1181681"/>
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                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>2</fairValLevel>
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                <name>PUTNAM SHORT TERM INVESTMENT FUND</name>
                <lei>5493003MK0Q7JP8CPP42</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74676P664</cusip>
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                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
                <title>U.S. T BILLS</title>
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                <invCountry>US</invCountry>
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                <fairValLevel>2</fairValLevel>
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            <invstOrSec>
                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
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                <valUSD>240726.78</valUSD>
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                <invCountry>US</invCountry>
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                <fairValLevel>2</fairValLevel>
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                    <maturityDt>2020-04-02</maturityDt>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
                <title>U.S. T BILLS</title>
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                    <isin value="US912796TK58"/>
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                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>276783.29</valUSD>
                <pctVal>0.075041564982</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>UST</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2020-03-12</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
                </debtSec>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
                <title>U.S. T BILLS</title>
                <cusip>912796SR1</cusip>
                <identifiers>
                    <isin value="US912796SR11"/>
                </identifiers>
                <balance>682000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>676954.47</valUSD>
                <pctVal>0.183536090096</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>UST</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2020-05-21</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
                </debtSec>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
                <title>U.S. T BILLS</title>
                <cusip>912796TG4</cusip>
                <identifiers>
                    <isin value="US912796TG47"/>
                </identifiers>
                <balance>167000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>166421.99</valUSD>
                <pctVal>0.045120377668</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>UST</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2020-02-20</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
                </debtSec>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
        </invstOrSecs>
        <signature>
            <ncom:dateSigned>2020-01-27</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Investments Inc</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>NPORT</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
    <documents>XXXX</documents>
</edgarSubmission>
