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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Trade</name>
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        <name>LCH Ltd.</name>
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        <name>MEDCO MAPLE TREE PTE LTD</name>
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        <name>Citibank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PERTAMINA GEOTHERMAL ENE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Royal Bank of Canada</name>
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        <name>KRAKATAU POSCO PT</name>
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        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HK GOVT INFRA BOND PROG</name>
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        <title>Hong Kong Government Infrastructure Bond Programme</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MGM CHINA HOLDINGS LTD</name>
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        <title>MGM China Holdings Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NICKEL INDUSTRIES LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>HDFC BANK LTD</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SAMMAAN CAPITAL LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MALAYSIA GOVERNMENT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ELECT GLOBAL INV LTD</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Indonesia Government International Bonds</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>Indonesia Government International Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FAR EAST HORIZON LTD</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Royal Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RAKUTEN GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TSETSENS MINING &amp; ENERGY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UPL CORP LTD</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>NEW METRO GLOBAL LTD</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CN PING AN INSUR OVERSEA</name>
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        <title>China Ping An Insurance Overseas Holdings Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>DOMINICAN REPUBLIC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MALAYSIA GOVERNMENT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SILK ROAD GROUP HOLDING</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Singapore Government Bonds</name>
        <lei>549300ZSV6VOGFH1ER70</lei>
        <title>Singapore Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="SGXPK17B11U8"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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        <name>NOTA DO TESOURO NACIONAL</name>
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        <title>Brazil Notas do Tesouro Nacional Serie F</title>
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        <invCountry>BR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>EQUINIX ASIA FIN CORP</name>
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        <title>Equinix Asia Financing Corp Pte Ltd</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>AUST &amp; NZ BANKING GROUP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GREENKO POWER II LTD</name>
        <lei>254900YYA4B6O2O4JM12</lei>
        <title>Greenko Power II Ltd</title>
        <cusip>000000000</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>NTT FINANCE CORP</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VEDANTA RESOURCES</name>
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        <title>Vedanta Resources Finance II PLC</title>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GLP PTE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRUDENTIAL FUNDING ASIA</name>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SMPHI SG HOLDINGS PTE</name>
        <lei>2549002L5A656JV9N907</lei>
        <title>Smphi SG Holdings Pte Ltd</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ZHONGSHENG GROUP</name>
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        <title>Zhongsheng Group Holdings Ltd</title>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MALAYSIA INVESTMNT ISSUE</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Investment Issue</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>AIA GROUP LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SOFTBANK CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MEX BONOS DESARR FIX RT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK NEGARA INDONESIA</name>
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        <title>Bank Negara Indonesia Persero Tbk PT</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Trade</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CS TREASURY MGMT SERVICE</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <title>India Government Bond</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MUANGTHAI CAPITAL PCL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SANTOS FINANCE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP Paribas SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Chartered Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SHRIRAM FINANCE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MTR CORP CI LTD</name>
        <lei>254900SEVE6JAZLGDW04</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF INDONESIA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIA CLEANTECH ENERGY</name>
        <lei>254900DGTS4HHR3Q6F66</lei>
        <title>India Cleantech Energy</title>
        <cusip>000000000</cusip>
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          <isin value="USV4606AAA17"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-10</maturityDt>
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        <name>EUROPEAN BK RECON &amp; DEV</name>
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        <cusip>000000000</cusip>
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          <isin value="XS2974126042"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HK GOVT INFRA BOND PROG</name>
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        <title>Hong Kong Government Infrastructure Bond Programme</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PERENTI FINANCE PTY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <title>Saudi Government International Bond</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <name>DP WORLD LTD UAE</name>
        <lei>549300M3U2DNF4QVSS04</lei>
        <title>DP World Ltd/United Arab Emirates</title>
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        <fairValLevel>2</fairValLevel>
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        <name>KHAZANAH CAPITAL LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VEDANTA RESOURCES</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Singapore Government Bonds</name>
        <lei>549300ZSV6VOGFH1ER70</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>INDONESIA GOVERNMENT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTL FINANCE CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHINA HONGQIAO GROUP LTD</name>
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        <title>China Hongqiao Group Ltd</title>
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          <isin value="XS2968971676"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-10</maturityDt>
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      <invstOrSec>
        <name>TENAGA NASIONAL BERHAD</name>
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        <title>Tenaga Nasional Bhd</title>
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          <isin value="USY85859AC38"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2096-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
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          <other otherDesc="Trade Identifier" value="26DNKBCRHMD"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>POWER FINANCE CORP LTD</name>
        <lei>3358003Q6D9LIJJZ1614</lei>
        <title>Power Finance Corp Ltd</title>
        <cusip>73928RAA4</cusip>
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          <isin value="US73928RAA41"/>
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        <curCd>USD</curCd>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MUANGTHAI CAPITAL PCL</name>
        <lei>254900ZI1FO2W9132C98</lei>
        <title>Muangthai Capital PCL</title>
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          <isin value="US624923AA66"/>
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        <balance>1650000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>TH</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.55000000</annualizedRt>
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      <invstOrSec>
        <name>Petroliam Nasional Bhd.</name>
        <lei>5493003RZQYJM7QGNE15</lei>
        <title>Petroliam Nasional Bhd.</title>
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          <isin value="USY68851AK32"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELEKOM SRBJIA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sri Lanka Government International Bonds</name>
        <lei>254900IG6Y30I2QE2R92</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Trade</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Petronas Capital Ltd.</name>
        <lei>549300G7YFX3540OYR85</lei>
        <title>Petronas Capital Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PAKISTAN INVESTMENT BOND</name>
        <lei>529900LOP29R5WKHOD86</lei>
        <title>Pakistan Investment Bond</title>
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        <invCountry>PK</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Royal Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NOTA DO TESOURO NACIONAL</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>10 RENEW POWER SUBSIDIAR</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Export-Import Bank of India</name>
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        <title>Export-Import Bank of India</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TONGYANGLIFEINSURANCECO</name>
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        <title>Tongyang Life Insurance Co Ltd</title>
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          <isin value="XS3045733840"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="MYBMX1700033"/>
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        <balance>10000000.00000000</balance>
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        <invCountry>MY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="26DLKBBBCBH"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HK GOVT INFRA BOND PROG</name>
        <lei>549300DSMAD69T7GGN13</lei>
        <title>Hong Kong Government Infrastructure Bond Programme</title>
        <cusip>000000000</cusip>
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          <isin value="HK0001167730"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-24</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>PURCHASED USD / SOLD PHP</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bond</title>
        <cusip>000000000</cusip>
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        <balance>17000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
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        <fairValLevel>2</fairValLevel>
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        <name>OVERSEA-CHINESE BANKING</name>
        <lei>5493007O3QFXCPOGWK22</lei>
        <title>Oversea-Chinese Banking Corp Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>IIFL FINANCE LTD</name>
        <lei>335800CZ46UJRS34JR78</lei>
        <title>IIFL Finance Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PHILIPPINE GOVERNMENT</name>
        <lei>529900RAHBALMYIJ3T08</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>INDONESIA GOVERNMENT</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>Indonesia Treasury Bond</title>
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        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LCH Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HOUSING &amp;DEVELOPMENT BRD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WOORI BANK</name>
        <lei>549300VUVMRL6RE7R376</lei>
        <title>Woori Bank</title>
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        <fairValLevel>2</fairValLevel>
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        <name>LAOS GOVERNMENT INTL BON</name>
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        <title>Laos Government International Bond</title>
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        <fairValLevel>2</fairValLevel>
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        <name>WYNN MACAU LTD</name>
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        <title>Wynn Macau Ltd</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>THAIOIL TRSRY CENTER</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DEVELOPMENT BANK OF KAZA</name>
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        <title>Development Bank of Kazakhstan JSC</title>
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        <name>SAMMAAN CAPITAL LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GEORGIA GLOBAL UTILITIES</name>
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        <title>Georgia Global Utilities JSC</title>
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        <name>ABU DHABI COMMERCIAL BNK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LGENERGYSOLUTION</name>
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        <name>Philippines Government International Bonds</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>Philippines Government International Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <name>FIRST ABU DHABI BANK PJS</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Trade</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>EXPORT-IMPORT BANK KOREA</name>
        <lei>549300APVP4R32PI3Y06</lei>
        <title>Export-Import Bank of Korea</title>
        <cusip>302154DW6</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THAILAND GOVERNMENT BOND</name>
        <lei>254900PHJ6MSKT6C7026</lei>
        <title>Thailand Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="TH062303P607"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BANK OF GEORGIA JSC</name>
        <lei>549300RPLD8RXL49Z691</lei>
        <title>Bank of Georgia JSC</title>
        <cusip>062269AA3</cusip>
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          <isin value="US062269AA38"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2609403.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>STANDARD CHARTERED PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>853254DH0</cusip>
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          <isin value="US853254DH03"/>
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        <balance>4400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4491801.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AIRPORT AUTHORITY HK</name>
        <lei>254900748HGC4RBR4O84</lei>
        <title>Airport Authority</title>
        <cusip>00946AAN4</cusip>
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          <isin value="US00946AAN46"/>
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        <curCd>USD</curCd>
        <valUSD>2228381.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
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      <invstOrSec>
        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bond</title>
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          <isin value="MYBMI2300024"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FAR EAST HORIZON LTD</name>
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          <isin value="XS2800583606"/>
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        <curCd>USD</curCd>
        <valUSD>4838104.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-16</maturityDt>
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      <invstOrSec>
        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="CND100099MP2"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>NBN CO LTD</name>
        <lei>2549007CRZ2NT7S96A24</lei>
        <title>NBN Co Ltd</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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        <name>PERUSAHAAN LISTRIK NEGAR</name>
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        <title>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
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          <isin value="MYBMO1700040"/>
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        <fairValLevel>2</fairValLevel>
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        <name>PETRONAS CAPITAL LTD</name>
        <lei>549300G7YFX3540OYR85</lei>
        <title>Petronas Capital Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <name>Citibank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PENGERANG LNG TWO</name>
        <lei>N/A</lei>
        <title>Pengerang LNG Two Sdn Bhd</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>LCH Ltd.</name>
        <lei>F226TOH6YD6XJB17KS62</lei>
        <title>Long: B23589021 IRS USD R V 00MSOFR SL_2723589021_RECEIVE CCPOIS / Short: B23589021 IRS USD P F  3.39600 SL_2723589021_PAY CCPOIS</title>
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        <pctVal>0.044535687341</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Ltd.</counterpartyName>
              <counterpartyLei>F226TOH6YD6XJB17KS62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
                <identifiers>
                  <other otherDesc="N/A" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 day USD SOFR" floatingRtSpread="0.00000000" pmntAmt="833222.05000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="1" resetDt="Month" resetDtUnit="12"/>
              </rtResetTenors>
            </floatingRecDesc>
            <fixedPmntDesc amount="-728159.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.40000000"/>
            <terminationDt>2029-08-23</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-187.59000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>31000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>288861.76000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MONG DUONG FIN HLDGS BV</name>
        <lei>549300995KGQFMWSV879</lei>
        <title>Mong Duong Finance Holdings BV</title>
        <cusip>60935DAA3</cusip>
        <identifiers>
          <isin value="US60935DAA37"/>
        </identifiers>
        <balance>1158761.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1143316.42000000</valUSD>
        <pctVal>0.176387040841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDONESIA GOVERNMENT</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>Indonesia Treasury Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IDG000020801"/>
        </identifiers>
        <balance>125000000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="IDR" exchangeRt="17310.00000000"/>
        <valUSD>7264179.16000000</valUSD>
        <pctVal>1.120693312683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Korea Exchange (Futures Market)</name>
        <lei>N/A</lei>
        <title>KOREA 3YR BND FUT JUN26</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG01Z2KVZC9"/>
        </identifiers>
        <balance>665.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="KRW" exchangeRt="1483.20000000"/>
        <valUSD>-194887.32000000</valUSD>
        <pctVal>-0.03006656518</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Korea Exchange (Futures Market)</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>KFE 3 Year Treasury Bond Futures</indexName>
                <indexIdentifier>KEM6 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-16</expDate>
            <notionalAmt>69136506880.00000000</notionalAmt>
            <curCd>KRW</curCd>
            <unrealizedAppr>-194887.32000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GROUP HOLDING</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd</title>
        <cusip>01609WBQ4</cusip>
        <identifiers>
          <isin value="US01609WBQ42"/>
        </identifiers>
        <balance>2350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2338268.75000000</valUSD>
        <pctVal>0.360740297515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYBMO1900020"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MYR" exchangeRt="3.97150000"/>
        <valUSD>5136882.99000000</valUSD>
        <pctVal>0.792501160575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.89000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GROUP HOLDING</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd</title>
        <cusip>01609WAR3</cusip>
        <identifiers>
          <isin value="US01609WAR34"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2442117.60000000</valUSD>
        <pctVal>0.376761751441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613BF4</cusip>
        <identifiers>
          <isin value="US902613BF40"/>
        </identifiers>
        <balance>2700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2921737.50000000</valUSD>
        <pctVal>0.450755908623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTPAC BANKING CORP</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>Westpac Banking Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU3CB0304376"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.38898500"/>
        <valUSD>4545664.64000000</valUSD>
        <pctVal>0.701289967048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DRB-HICOM BHD</name>
        <lei>254900F9ZZ1T9SD7VI95</lei>
        <title>DRB-Hicom Bhd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYBVN1902854"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MYR" exchangeRt="3.97150000"/>
        <valUSD>1313266.47000000</valUSD>
        <pctVal>0.202606367255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STANDARD CHARTERED PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USG84228FL77"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3139950.57000000</valUSD>
        <pctVal>0.484421092658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.77000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="The maturities in CNH 'Chinese Yuan Offshore' were factored into CNY 'Chinese Yuan Onshore'. These two markets differ according to regulations or market participants, and thus each market has its own exchange rate. This does not mean there are two different currencies in circulation, namely, an onshore RMH 'CNY' and an offshore RMB 'CNH'. CNY is the currency code for RMB assigned by the 'ISO International Organization for Standardization'." noteItem="B.3.b"/>
      <explntrNote note="Please see notes to financial statements or N-PORT part F for a glossary of swap paid and received terms." noteItem="C.11.a"/>
      <explntrNote note="The maturities in CNH 'Chinese Yuan Offshore' were factored into CNY 'Chinese Yuan Onshore'. These two markets differ according to regulations or market participants, and thus each market has its own exchange rate. This does not mean there are two different currencies in circulation, namely, an onshore RMH 'CNY' and an offshore RMB 'CNH'. CNY is the currency code for RMB assigned by the 'ISO International Organization for Standardization'." noteItem="B.3.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-27</ncom:dateSigned>
      <ncom:nameOfApplicant>ABRDN ASIA-PACIFIC INCOME FUND, INC.</ncom:nameOfApplicant>
      <ncom:signature>Sharon Ferrari</ncom:signature>
      <ncom:signerName>Sharon Ferrari</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
