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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colonial SFL Socimi S.A.</name>
        <lei>95980020140005007414</lei>
        <title>Colonial SFL Socimi S.A.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0139140174"/>
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        <balance>5510.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
        <valUSD>34203.75000000</valUSD>
        <pctVal>0.619825424940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="34060.72000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Frasers Logistics &amp; Commercial Trust</name>
        <lei>25490039A7FZFHHURL81</lei>
        <title>Frasers Logistics &amp; Commercial Trust</title>
        <cusip>Y26465107</cusip>
        <identifiers>
          <isin value="SG1CI9000006"/>
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        <balance>55444.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.26900000"/>
        <valUSD>44176.90000000</valUSD>
        <pctVal>0.800554495195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Keppel REIT</name>
        <lei>549300ZD5HZLQCF55J25</lei>
        <title>Keppel REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1T22929874"/>
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        <balance>65525.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.26900000"/>
        <valUSD>50930.12000000</valUSD>
        <pctVal>0.922933399737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Neinor Homes, S.A.</name>
        <lei>959800FW4JL65YWSQ217</lei>
        <title>Neinor Homes, S.A.</title>
        <cusip>E7647E108</cusip>
        <identifiers>
          <isin value="ES0105251005"/>
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        <balance>803.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
        <valUSD>19203.09000000</valUSD>
        <pctVal>0.347990013358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JBG SMITH Properties</name>
        <lei>N/A</lei>
        <title>JBG SMITH Properties</title>
        <cusip>46590V100</cusip>
        <identifiers>
          <isin value="US46590V1008"/>
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        <balance>1225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20629.00000000</valUSD>
        <pctVal>0.373829731859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carmila S.A.</name>
        <lei>222100P6D3QKU33LZQ72</lei>
        <title>Carmila S.A.</title>
        <cusip>F1387K266</cusip>
        <identifiers>
          <isin value="FR0010828137"/>
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        <balance>1242.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
        <valUSD>24120.41000000</valUSD>
        <pctVal>0.437099539611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nesco Ltd.</name>
        <lei>98450089BC981FEO9C12</lei>
        <title>Nesco Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE317F01035"/>
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        <balance>422.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="91.98750000"/>
        <valUSD>5234.90000000</valUSD>
        <pctVal>0.094864572364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wereldhave N.V.</name>
        <lei>724500YRQCY3BD9RJZ92</lei>
        <title>Wereldhave N.V.</title>
        <cusip>N95060120</cusip>
        <identifiers>
          <isin value="NL0000289213"/>
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        <balance>738.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
        <valUSD>18350.70000000</valUSD>
        <pctVal>0.332543373912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fabege AB</name>
        <lei>549300JNPI46XNH0PM97</lei>
        <title>Fabege AB</title>
        <cusip>W7888D199</cusip>
        <identifiers>
          <isin value="SE0011166974"/>
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        <balance>3892.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="8.85225000"/>
        <valUSD>36174.25000000</valUSD>
        <pctVal>0.655533965665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1246.76000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>China Merchants Shekou Industrial Zone Holdings Co., Ltd.</name>
        <lei>300300T3ACALX7NIPW13</lei>
        <title>China Merchants Shekou Industrial Zone Holdings Co., Ltd., A Shares</title>
        <cusip>Y14907102</cusip>
        <identifiers>
          <isin value="CNE100002FC6"/>
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        <balance>10800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.94850000"/>
        <valUSD>16421.89000000</valUSD>
        <pctVal>0.297590321165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cromwell Property Group</name>
        <lei>N/A</lei>
        <title>Cromwell Property Group</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000CMW8"/>
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        <balance>31262.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42744950"/>
        <valUSD>8968.21000000</valUSD>
        <pctVal>0.162517986308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mitsubishi Estate Logistics REIT Investment Corp.</name>
        <lei>353800YYSGZU31ICQK38</lei>
        <title>Mitsubishi Estate Logistics REIT Investment Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3048480002"/>
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        <balance>28.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
        <valUSD>23883.93000000</valUSD>
        <pctVal>0.432814152293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hang Lung Group Ltd.</name>
        <lei>529900V2T2EPOQYH0981</lei>
        <title>Hang Lung Group Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0010000088"/>
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        <balance>16116.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.80970000"/>
        <valUSD>34714.97000000</valUSD>
        <pctVal>0.629089530593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Unibail-Rodamco-Westfield</name>
        <lei>969500SHQITWXSIS7N89</lei>
        <title>Unibail-Rodamco-Westfield</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013326246"/>
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        <balance>2393.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
        <valUSD>265542.05000000</valUSD>
        <pctVal>4.812037100631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MIRAI Corp.</name>
        <lei>353800HQCYM7P10R9D93</lei>
        <title>MIRAI Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3048370005"/>
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        <balance>38.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
        <valUSD>12315.36000000</valUSD>
        <pctVal>0.223173577320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lighthouse Properties PLC</name>
        <lei>549300UG27SWRF0X2U62</lei>
        <title>Lighthouse Properties PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MU0461N00015"/>
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        <balance>22952.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.03750000"/>
        <valUSD>12304.69000000</valUSD>
        <pctVal>0.222980220239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MT</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eurocommercial Properties N.V.</name>
        <lei>724500SFK53FPNM68L95</lei>
        <title>Eurocommercial Properties N.V.</title>
        <cusip>N31068195</cusip>
        <identifiers>
          <isin value="NL0015000K93"/>
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        <balance>867.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
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        <pctVal>0.465154981672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morguard Corp.</name>
        <lei>894500JC9OPGOKN1CA34</lei>
        <title>Morguard Corp.</title>
        <cusip>617577101</cusip>
        <identifiers>
          <isin value="CA6175771014"/>
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        <balance>53.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.35415000"/>
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        <pctVal>0.021830141377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Swiss Prime Site AG</name>
        <lei>506700XI9H64OPR34158</lei>
        <title>Swiss Prime Site AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0008038389"/>
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        <balance>1577.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.77005000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Embassy Office Parks REIT</name>
        <lei>335800O555A557E43Z08</lei>
        <title>Embassy Office Parks REIT</title>
        <cusip>Y2R9YR104</cusip>
        <identifiers>
          <isin value="INE041025011"/>
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        <balance>16715.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="91.98750000"/>
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        <pctVal>1.430645785814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citycon OYJ</name>
        <lei>549300P8N0P6KDGTJ206</lei>
        <title>Citycon OYJ</title>
        <cusip>X1422T280</cusip>
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          <isin value="FI4000369947"/>
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        <balance>1660.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
        <valUSD>7511.98000000</valUSD>
        <pctVal>0.136128822004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kilroy Realty Corp.</name>
        <lei>549300CXXI18B214UN80</lei>
        <title>Kilroy Realty Corp.</title>
        <cusip>49427F108</cusip>
        <identifiers>
          <isin value="US49427F1084"/>
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        <balance>2203.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75959.44000000</valUSD>
        <pctVal>1.376503809559</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>
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      </invstOrSec>
      <invstOrSec>
        <name>ORIX JREIT Inc.</name>
        <lei>353800WVNTBIU65TA247</lei>
        <title>ORIX JREIT Inc.</title>
        <cusip>J8996L102</cusip>
        <identifiers>
          <isin value="JP3040880001"/>
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        <balance>103.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
        <valUSD>69204.86000000</valUSD>
        <pctVal>1.254100259691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United Urban Investment Corp.</name>
        <lei>353800GYZWBD7BDCN841</lei>
        <title>United Urban Investment Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3045540006"/>
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        <balance>61.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Frontier Real Estate Investment Corp.</name>
        <lei>N/A</lei>
        <title>Frontier Real Estate Investment Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3046200006"/>
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        <balance>48.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NTT UD REIT Investment Corp.</name>
        <lei>N/A</lei>
        <title>NTT UD REIT Investment Corp.</title>
        <cusip>J7446X104</cusip>
        <identifiers>
          <isin value="JP3041770003"/>
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        <balance>28.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <pctVal>0.469399414257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global One Real Estate Investment Corp.</name>
        <lei>N/A</lei>
        <title>Global One Real Estate Investment Corp.</title>
        <cusip>J1727U103</cusip>
        <identifiers>
          <isin value="JP3044520009"/>
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        <balance>19.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cousins Properties Inc.</name>
        <lei>5493007XPYD5EJABN062</lei>
        <title>Cousins Properties Inc.</title>
        <cusip>222795502</cusip>
        <identifiers>
          <isin value="US2227955026"/>
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        <balance>3293.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83115.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Logistics Fund, Inc.</name>
        <lei>3538004KZWISCQO70151</lei>
        <title>Japan Logistics Fund, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3046230003"/>
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        <balance>49.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Daiwa Office Investment Corp.</name>
        <lei>N/A</lei>
        <title>Daiwa Office Investment Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3046310003"/>
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        <balance>11.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <pctVal>0.476451601878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Covivio S.A.</name>
        <lei>969500P8M3W2XX376054</lei>
        <title>Covivio S.A.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000064578"/>
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        <balance>1095.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
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        <pctVal>1.272295940309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Frasers Centrepoint Trust</name>
        <lei>5493002RGQ266FKERZ83</lei>
        <title>Frasers Centrepoint Trust</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1T60930966"/>
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        <balance>25744.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.26900000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Japan Excellent, Inc.</name>
        <lei>35380015J62221TE0D86</lei>
        <title>Japan Excellent, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3046420000"/>
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        <balance>21.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mori Hills Reit Investment Corp.</name>
        <lei>N/A</lei>
        <title>Mori Hills Reit Investment Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3046470005"/>
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        <balance>28.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Henderson Land Development Co. Ltd.</name>
        <lei>529900SYQB7IVR9QGN76</lei>
        <title>Henderson Land Development Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0012000102"/>
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        <balance>28483.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.80970000"/>
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        <pctVal>2.053703916454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FastPartner AB</name>
        <lei>549300BG6SL5QQ7LQW56</lei>
        <title>FastPartner AB, Class A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0013512506"/>
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        <balance>911.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="8.85225000"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Capital REIT</name>
        <lei>54930042UG2WCIIAQZ39</lei>
        <title>First Capital REIT</title>
        <cusip>31890B103</cusip>
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          <isin value="CA31890B1031"/>
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        <balance>2054.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.35415000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Centuria Office REIT</name>
        <lei>984500D9D1RFE9AF4796</lei>
        <title>Centuria Office REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000077893"/>
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        <balance>7711.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42744950"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Invesco Government &amp; Agency Portfolio</name>
        <lei>5493007T1J7WZ5QI1A47</lei>
        <title>Invesco Government &amp; Agency Portfolio, Institutional Class</title>
        <cusip>825252885</cusip>
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          <isin value="US8252528851"/>
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        <balance>1527.57000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1527.57000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CapitaLand India Trust</name>
        <lei>N/A</lei>
        <title>CapitaLand India Trust</title>
        <cusip>N/A</cusip>
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          <isin value="SG1V35936920"/>
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        <balance>18494.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Invesco Private Government Fund</name>
        <lei>N/A</lei>
        <title>Invesco Private Government Fund</title>
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        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cre Logistics Reit, Inc.</name>
        <lei>N/A</lei>
        <title>Cre Logistics Reit, Inc.</title>
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          <isin value="JP3048680007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sosila Logistics Reit, Inc.</name>
        <lei>N/A</lei>
        <title>Sosila Logistics Reit, Inc.</title>
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          <isin value="JP3048960003"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Lendlease Global Commercial REIT</name>
        <lei>2549002B9UHG224VCA80</lei>
        <title>Lendlease Global Commercial REIT</title>
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        <identifiers>
          <isin value="SGXC61949712"/>
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        <balance>43480.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Invesco Private Prime Fund</name>
        <lei>N/A</lei>
        <title>Invesco Private Prime Fund</title>
        <cusip>N/A</cusip>
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          <other otherDesc="CADIS_ID" value="2487474"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="469813.90190000" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>Mindspace Business Parks REIT</name>
        <lei>335800KNDFQZVN5X6W64</lei>
        <title>Mindspace Business Parks REIT</title>
        <cusip>Y60386102</cusip>
        <identifiers>
          <isin value="INE0CCU25019"/>
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        <balance>4179.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="91.98750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Brookfield India Real Estate Trust</name>
        <lei>335800MCXUOZ6TVFEQ25</lei>
        <title>Brookfield India Real Estate Trust</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE0FDU25010"/>
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        <balance>8774.00000000</balance>
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        <pctVal>0.610434830774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Piedmont Realty Trust, Inc.</name>
        <lei>N/A</lei>
        <title>Piedmont Realty Trust, Inc., Class A</title>
        <cusip>720190206</cusip>
        <identifiers>
          <isin value="US7201902068"/>
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        <balance>2471.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20805.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SL Green Realty Corp.</name>
        <lei>549300VQZPJU97H3GT17</lei>
        <title>SL Green Realty Corp.</title>
        <cusip>78440X887</cusip>
        <identifiers>
          <isin value="US78440X8873"/>
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        <balance>1393.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62378.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="61420.66000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Mercialys</name>
        <lei>969500081CGAXB7YS433</lei>
        <title>Mercialys</title>
        <cusip>F61573105</cusip>
        <identifiers>
          <isin value="FR0010241638"/>
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        <balance>1837.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
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        <pctVal>0.420365363083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEPI Rockcastle N.V.</name>
        <lei>549300FMWM53K9ULYT15</lei>
        <title>NEPI Rockcastle N.V.</title>
        <cusip>N6S06Q108</cusip>
        <identifiers>
          <isin value="NL0015000RT3"/>
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        <balance>11876.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.03750000"/>
        <valUSD>108934.31000000</valUSD>
        <pctVal>1.974060007640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>American Assets Trust, Inc.</name>
        <lei>N/A</lei>
        <title>American Assets Trust, Inc.</title>
        <cusip>024013104</cusip>
        <identifiers>
          <isin value="US0240131047"/>
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        <balance>973.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17572.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Abacus Group</name>
        <lei>2138009R3Y4TK4IZDW59</lei>
        <title>Abacus Group</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000291882"/>
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        <balance>8926.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42744950"/>
        <valUSD>7219.14000000</valUSD>
        <pctVal>0.130822103371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nexus Select Trust</name>
        <lei>3358005ZHLYHK1WZGL78</lei>
        <title>Nexus Select Trust</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE0NDH25011"/>
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        <balance>16337.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="91.98750000"/>
        <valUSD>27417.27000000</valUSD>
        <pctVal>0.496843797199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALLOS S.A.</name>
        <lei>N/A</lei>
        <title>ALLOS S.A.</title>
        <cusip>P0R6A1107</cusip>
        <identifiers>
          <isin value="BRALOSACNOR5"/>
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        <balance>6868.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.23555000"/>
        <valUSD>40534.65000000</valUSD>
        <pctVal>0.734551230816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mapletree Pan Asia Commercial Trust</name>
        <lei>549300BF18K4IC5LZ208</lei>
        <title>Mapletree Pan Asia Commercial Trust</title>
        <cusip>Y5759T101</cusip>
        <identifiers>
          <isin value="SG2D18969584"/>
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        <balance>46191.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.26900000"/>
        <valUSD>53103.74000000</valUSD>
        <pctVal>0.962322792425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fortune REIT</name>
        <lei>N/A</lei>
        <title>Fortune REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1O33912138"/>
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        <balance>30564.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.80970000"/>
        <valUSD>19870.44000000</valUSD>
        <pctVal>0.360083438709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Max Estates Ltd.</name>
        <lei>335800SK4H661DYB9B13</lei>
        <title>Max Estates Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE03EI01018"/>
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        <balance>1121.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="91.98750000"/>
        <valUSD>4697.06000000</valUSD>
        <pctVal>0.085118070693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Berkeley Group Holdings PLC (The)</name>
        <lei>2138009OQSSLVVHQAL78</lei>
        <title>Berkeley Group Holdings PLC (The)</title>
        <cusip>G1191G153</cusip>
        <identifiers>
          <isin value="GB00BP0RGD03"/>
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        <balance>1878.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72872950"/>
        <valUSD>106407.34000000</valUSD>
        <pctVal>1.928267360516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fibra Uno Administracion, S.A. de C.V.</name>
        <lei>N/A</lei>
        <title>Fibra Uno Administracion, S.A. de C.V.</title>
        <cusip>P3515D163</cusip>
        <identifiers>
          <isin value="MXCFFU000001"/>
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        <balance>55924.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.34700000"/>
        <valUSD>87624.05000000</valUSD>
        <pctVal>1.587884779482</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="90588.83000000"/>
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      <invstOrSec>
        <name>Activia Properties Inc.</name>
        <lei>353800RPGYN3ML8CXV54</lei>
        <title>Activia Properties Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3047490002"/>
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        <balance>39.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
        <valUSD>36541.48000000</valUSD>
        <pctVal>0.662188747401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atrium Ljungberg AB</name>
        <lei>5493001NNP6HM67OVU09</lei>
        <title>Atrium Ljungberg AB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0024320832"/>
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        <balance>5142.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="8.85225000"/>
        <valUSD>19596.98000000</valUSD>
        <pctVal>0.355127915975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Beazer Homes USA, Inc.</name>
        <lei>549300DUPYT2T0F60I45</lei>
        <title>Beazer Homes USA, Inc.</title>
        <cusip>07556Q881</cusip>
        <identifiers>
          <isin value="US07556Q8814"/>
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        <balance>562.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12122.34000000</valUSD>
        <pctVal>0.219675753148</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Glp J-Reit</name>
        <lei>353800E27V9KA51K2I90</lei>
        <title>Glp J-Reit</title>
        <cusip>J17305103</cusip>
        <identifiers>
          <isin value="JP3047510007"/>
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        <balance>89.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
        <valUSD>82078.00000000</valUSD>
        <pctVal>1.487381682658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hudson Pacific Properties, Inc.</name>
        <lei>529900EURZA5HRSXQ389</lei>
        <title>Hudson Pacific Properties, Inc.</title>
        <cusip>444097406</cusip>
        <identifiers>
          <isin value="US4440974065"/>
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        <balance>1075.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9266.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="417.36000000"/>
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      <invstOrSec>
        <name>Douglas Emmett, Inc.</name>
        <lei>N/A</lei>
        <title>Douglas Emmett, Inc.</title>
        <cusip>25960P109</cusip>
        <identifiers>
          <isin value="US25960P1093"/>
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        <balance>3273.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34562.88000000</valUSD>
        <pctVal>0.626333422012</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="34376.40000000"/>
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      <invstOrSec>
        <name>Nippon Prologis Reit, Inc.</name>
        <lei>353800PHBMSDLAFURY41</lei>
        <title>Nippon Prologis Reit, Inc.</title>
        <cusip>J5528H104</cusip>
        <identifiers>
          <isin value="JP3047550003"/>
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        <balance>131.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
        <valUSD>76689.26000000</valUSD>
        <pctVal>1.389729288977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Crest Nicholson Holdings PLC</name>
        <lei>213800ROIFXRRRKVQD25</lei>
        <title>Crest Nicholson Holdings PLC</title>
        <cusip>G25425102</cusip>
        <identifiers>
          <isin value="GB00B8VZXT93"/>
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        <balance>4601.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.72872950"/>
        <valUSD>9650.22000000</valUSD>
        <pctVal>0.174877073778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RioCan REIT</name>
        <lei>549300S8HVUSEU3JBY60</lei>
        <title>RioCan REIT</title>
        <cusip>766910103</cusip>
        <identifiers>
          <isin value="CA7669101031"/>
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        <balance>2850.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.35415000"/>
        <valUSD>41061.55000000</valUSD>
        <pctVal>0.744099482584</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="23981.94000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BXP, Inc.</name>
        <lei>549300OF70FSEUQBT254</lei>
        <title>BXP, Inc.</title>
        <cusip>101121101</cusip>
        <identifiers>
          <isin value="US1011211018"/>
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        <balance>2957.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>191229.19000000</valUSD>
        <pctVal>3.465371894974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Brandywine Realty Trust</name>
        <lei>5UZ46ZCYUFYYAC0DS831</lei>
        <title>Brandywine Realty Trust</title>
        <cusip>105368203</cusip>
        <identifiers>
          <isin value="US1053682035"/>
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        <balance>3450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9763.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Hang Lung Properties Ltd.</name>
        <lei>529900CIVTNMXQT59E61</lei>
        <title>Hang Lung Properties Ltd.</title>
        <cusip>Y30166105</cusip>
        <identifiers>
          <isin value="HK0101000591"/>
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        <balance>34900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.80970000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hysan Development Co. Ltd.</name>
        <lei>5299007BABFLKIH9HL03</lei>
        <title>Hysan Development Co. Ltd.</title>
        <cusip>Y38203124</cusip>
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          <isin value="HK0014000126"/>
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        <balance>12000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.80970000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Klepierre</name>
        <lei>969500PB4U31KEFHZ621</lei>
        <title>Klepierre</title>
        <cusip>F5396X102</cusip>
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          <isin value="FR0000121964"/>
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        <balance>4227.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KB Home</name>
        <lei>549300LGUCWQURMWLG09</lei>
        <title>KB Home</title>
        <cusip>48666K109</cusip>
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          <isin value="US48666K1097"/>
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        <balance>1270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73075.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vornado Realty Trust</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust</title>
        <cusip>929042109</cusip>
        <identifiers>
          <isin value="US9290421091"/>
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        <balance>3202.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>102079.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Metropolitan Fund Investment Corp.</name>
        <lei>353800QDHNIP60E1LQ93</lei>
        <title>Japan Metropolitan Fund Investment Corp.</title>
        <cusip>J27544105</cusip>
        <identifiers>
          <isin value="JP3039710003"/>
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        <balance>141.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CapitaLand Ascendas REIT</name>
        <lei>549300ILIBAEMQZK3L20</lei>
        <title>CapitaLand Ascendas REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1M77906915"/>
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        <balance>76933.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.26900000"/>
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        <pctVal>3.127524883094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nippon Building Fund Inc.</name>
        <lei>52990053R8NL2MB32172</lei>
        <title>Nippon Building Fund Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3027670003"/>
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        <balance>153.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <pctVal>2.580160522874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CapitaLand Integrated Commercial Trust</name>
        <lei>54930031292WUTXF0L29</lei>
        <title>CapitaLand Integrated Commercial Trust</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1M51904654"/>
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        <balance>119646.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.26900000"/>
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        <pctVal>4.080483720052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Growthpoint Properties Australia Ltd.</name>
        <lei>529900VCPJ9IEDF4TJ03</lei>
        <title>Growthpoint Properties Australia Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000GOZ8"/>
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        <balance>5252.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42744950"/>
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        <pctVal>0.152453451198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Isetan Mitsukoshi Holdings Ltd.</name>
        <lei>529900SY5RZO92EFG035</lei>
        <title>Isetan Mitsukoshi Holdings Ltd.</title>
        <cusip>J25038100</cusip>
        <identifiers>
          <isin value="JP3894900004"/>
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        <balance>6341.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <pctVal>1.850100177905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Empire State Realty Trust, Inc.</name>
        <lei>549300VOKY1DUEQSB456</lei>
        <title>Empire State Realty Trust, Inc., Class A</title>
        <cusip>292104106</cusip>
        <identifiers>
          <isin value="US2921041065"/>
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        <balance>2844.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18855.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Aeon Reit Investment Corp.</name>
        <lei>353800P59F8MJB4FE788</lei>
        <title>Aeon Reit Investment Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3047650001"/>
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        <balance>31.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Yuexiu REIT</name>
        <lei>N/A</lei>
        <title>Yuexiu REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0405033157"/>
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        <balance>46253.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.80970000"/>
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        <pctVal>0.091174840836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hulic Reit, Inc.</name>
        <lei>N/A</lei>
        <title>Hulic Reit, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3047660000"/>
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        <balance>25.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Japan Prime Realty Investment Corp.</name>
        <lei>353800NJOQJAY1ODEX72</lei>
        <title>Japan Prime Realty Investment Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3040890000"/>
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        <balance>66.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Platzer Fastigheter Holding AB</name>
        <lei>5493009KPII4BZE70820</lei>
        <title>Platzer Fastigheter Holding AB, Class B</title>
        <cusip>W7S644112</cusip>
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          <isin value="SE0004977692"/>
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        <balance>1198.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="8.85225000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Highwoods Properties, Inc.</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
        <title>Highwoods Properties, Inc.</title>
        <cusip>431284108</cusip>
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          <isin value="US4312841087"/>
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        <balance>2103.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54362.55000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Merlin Properties SOCIMI S.A.</name>
        <lei>959800L8KD863DP30X04</lei>
        <title>Merlin Properties SOCIMI S.A.</title>
        <cusip>E7390Z100</cusip>
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          <isin value="ES0105025003"/>
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        <balance>7752.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fukuoka REIT Corp.</name>
        <lei>N/A</lei>
        <title>Fukuoka REIT Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3046240002"/>
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        <balance>14.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Redefine Properties Ltd.</name>
        <lei>37890061EC026A7DA532</lei>
        <title>Redefine Properties Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000190252"/>
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        <balance>133819.00000000</balance>
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        <currencyConditional curCd="ZAR" exchangeRt="16.03750000"/>
        <valUSD>51710.06000000</valUSD>
        <pctVal>0.937067131913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tritax Big Box REIT PLC</name>
        <lei>213800L6X88MIYPVR714</lei>
        <title>Tritax Big Box REIT PLC</title>
        <cusip>G9101W101</cusip>
        <identifiers>
          <isin value="GB00BG49KP99"/>
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        <balance>43779.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.72872950"/>
        <valUSD>99658.58000000</valUSD>
        <pctVal>1.805969278147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Prologis Property Mexico, S.A. de C.V.</name>
        <lei>N/A</lei>
        <title>Prologis Property Mexico, S.A. de C.V.</title>
        <cusip>P4559M101</cusip>
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          <isin value="MXCFFI170008"/>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Gecina</name>
        <lei>9695003E4MMA10IBTR26</lei>
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          <isin value="FR0010040865"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.84058300"/>
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        <pctVal>1.508486961499</pctVal>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Mahindra Lifespace Developers Ltd.</name>
        <lei>335800C4GAEGPH1E9B03</lei>
        <title>Mahindra Lifespace Developers Ltd.</title>
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        <identifiers>
          <isin value="INE813A01018"/>
        </identifiers>
        <balance>2130.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="91.98750000"/>
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        <pctVal>0.154235525745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Daiwa House REIT Investment Corp.</name>
        <lei>3538001FWU534P8JMO05</lei>
        <title>Daiwa House REIT Investment Corp.</title>
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          <isin value="JP3046390005"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sekisui House Reit, Inc.</name>
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        <title>Sekisui House Reit, Inc.</title>
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        <identifiers>
          <isin value="JP3047820000"/>
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        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
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        <pctVal>0.854073089669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Meritage Homes Corp.</name>
        <lei>52990044W9UMFJO2FB97</lei>
        <title>Meritage Homes Corp.</title>
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          <isin value="US59001A1025"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97035.96000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SmartCentres REIT</name>
        <lei>549300HKEP2IYWZ14H97</lei>
        <title>SmartCentres REIT</title>
        <cusip>83179X108</cusip>
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          <isin value="CA83179X1087"/>
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        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.35415000"/>
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        <pctVal>0.509327379810</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="10098.99000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nomura Real Estate Master Fund, Inc.</name>
        <lei>353800TNNZOQ1CPZE086</lei>
        <title>Nomura Real Estate Master Fund, Inc.</title>
        <cusip>J589D3119</cusip>
        <identifiers>
          <isin value="JP3048110005"/>
        </identifiers>
        <balance>78.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="154.26000000"/>
        <valUSD>84554.19000000</valUSD>
        <pctVal>1.532254116791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-03-02</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
