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        <fairValLevel>2</fairValLevel>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HENKEL AG &amp; CO. KGAA</name>
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        <cusip>D3207M110</cusip>
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          <ticker value="HENOF"/>
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        <assetCat>EP</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENDESA SA - EMPRESA NACIONAL ELECTRICIDAD</name>
        <lei>549300LHK07F2CHV4X31</lei>
        <title>ENDESA SA - EMPRESA NACIONAL ELECTRICIDAD EUR1.2</title>
        <cusip>E41222113</cusip>
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          <ticker value="ELEZF"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE LUFTHANSA AG</name>
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        <title>DEUTSCHE LUFTHANSA AG ORD NPV (REGD)(VINK)</title>
        <cusip>D1908N106</cusip>
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          <ticker value="DLAKF"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG</name>
        <lei>529900MUF4C20K50JS49</lei>
        <title>MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG NPV(REGD)</title>
        <cusip>D55535104</cusip>
        <identifiers>
          <isin value="DE0008430026"/>
          <ticker value="MURGF"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>SOCIETE BIC SA</name>
        <lei>969500UR00DF63I0VH67</lei>
        <title>SOCIETE BIC SA EUR3.82</title>
        <cusip>F10080103</cusip>
        <identifiers>
          <isin value="FR0000120966"/>
          <ticker value="BICEF"/>
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        <balance>27900</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SECURITAS AB</name>
        <lei>635400TTYKE8EIWDS617</lei>
        <title>SECURITAS AB SER'B'NPV</title>
        <cusip>W7912C118</cusip>
        <identifiers>
          <isin value="SE0000163594"/>
          <ticker value="SCTBF"/>
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        <pctVal>0.1782925586</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CARREFOUR SA</name>
        <lei>549300B8P6MUJ1YWTS08</lei>
        <title>CARREFOUR SA EUR2.50</title>
        <cusip>F13923119</cusip>
        <identifiers>
          <isin value="FR0000120172"/>
          <ticker value="CRERF"/>
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        <balance>154700</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>REPSOL SA</name>
        <lei>BSYCX13Y0NOTV14V9N85</lei>
        <title>REPSOL SA EUR1</title>
        <cusip>E8471S130</cusip>
        <identifiers>
          <isin value="ES0173516115"/>
          <ticker value="REPYF"/>
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        <balance>283500</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>WOLTERS KLUWER NV</name>
        <lei>724500TEM53I0U077B74</lei>
        <title>WOLTERS KLUWER NV EUR0.12</title>
        <cusip>N9643A197</cusip>
        <identifiers>
          <isin value="NL0000395903"/>
          <ticker value="WKL"/>
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        <balance>36619</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
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        <pctVal>0.1488453653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>DEUTSCHE BANK AG ORD NPV(REGD)</title>
        <cusip>D18190898</cusip>
        <identifiers>
          <isin value="DE0005140008"/>
          <ticker value="DB"/>
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        <balance>316400</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BEKAERT SA/NV</name>
        <lei>5493008SR6XZECH6BN71</lei>
        <title>BEKAERT SA/NV NPV</title>
        <cusip>B6346B111</cusip>
        <identifiers>
          <isin value="BE0974258874"/>
          <ticker value="BEKSF"/>
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        <balance>54300</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INFINEON TECHNOLOGIES AG</name>
        <lei>TSI2PJM6EPETEQ4X1U25</lei>
        <title>INFINEON TECHNOLOGIES AG ORD NPV (REGD)</title>
        <cusip>D35415104</cusip>
        <identifiers>
          <isin value="DE0006231004"/>
          <ticker value="IFNNF"/>
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        <balance>68251</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>TELEFONAKTIEBOLAGET LM ERICSSON</name>
        <lei>549300W9JLPW15XIFM52</lei>
        <title>TELEFONAKTIEBOLAGET LM ERICSSON SER'B'NPV</title>
        <cusip>W26049119</cusip>
        <identifiers>
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          <ticker value="ERIXF"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHOCOLADEFABRIKEN LINDT &amp; SPRUENGLI AG</name>
        <lei>529900JYJNNOKKAGK736</lei>
        <title>CHOCOLADEFABRIKEN LINDT &amp; SPRUENGLI AG CHF10 (PTG CERT)</title>
        <cusip>H49983184</cusip>
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          <ticker value="LDSVF"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOCIETE GENERALE SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCIETE GENERALE SA EUR1.25</title>
        <cusip>F8591M517</cusip>
        <identifiers>
          <isin value="FR0000130809"/>
          <ticker value="SCGLF"/>
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        <balance>99100</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TELEVISION FRANCAISE 1 SA</name>
        <lei>969500WQFC6OAQYG7E65</lei>
        <title>TELEVISION FRANCAISE 1 SA EUR0.20</title>
        <cusip>F91255103</cusip>
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          <ticker value="TVFCF"/>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMADA CO LTD</name>
        <lei>529900QF5O6TQGCPDX85</lei>
        <title>AMADA CO LTD NPV</title>
        <cusip>J01218106</cusip>
        <identifiers>
          <isin value="JP3122800000"/>
          <ticker value="AMDWF"/>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>BANK LEUMI LE - ISRAEL BM</name>
        <lei>7JDSZWRGUQY2DSTWCR57</lei>
        <title>BANK LEUMI LE - ISRAEL BM ILS1</title>
        <cusip>M16043107</cusip>
        <identifiers>
          <isin value="IL0006046119"/>
          <ticker value="BLMIF"/>
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        <currencyConditional curCd="ILS" exchangeRt="0.336038"/>
        <valUSD>3759605.4</valUSD>
        <pctVal>0.2363410001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BHP GROUP LTD</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP GROUP LTD NPV</title>
        <cusip>Q1498M100</cusip>
        <identifiers>
          <isin value="AU000000BHP4"/>
          <ticker value="BHPLF"/>
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        <balance>167700</balance>
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        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>6988536.69</valUSD>
        <pctVal>0.4393221029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAMSUNG FIRE &amp; MARINE INSURANCE COMPANY LTD</name>
        <lei>988400JMBDK47EW0Z936</lei>
        <title>SAMSUNG FIRE &amp; MARINE INSURANCE COMPANY LTD KRW500</title>
        <cusip>Y7473H108</cusip>
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          <ticker value="SZVZF"/>
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        <balance>14020</balance>
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        <currencyConditional curCd="KRW" exchangeRt="0.000645"/>
        <valUSD>5657505.78</valUSD>
        <pctVal>0.3556491790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HARVEY NORMAN HOLDINGS LTD</name>
        <lei>529900ONRWOF42PYKU59</lei>
        <title>HARVEY NORMAN HOLDINGS LTD NPV</title>
        <cusip>Q4525E117</cusip>
        <identifiers>
          <isin value="AU000000HVN7"/>
          <ticker value="HNORF"/>
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        <balance>279000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>931706.19</valUSD>
        <pctVal>0.0585700757</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>KOSE HOLDINGS CORP</name>
        <lei>353800NX4GGAVDHHY664</lei>
        <title>KOSE HOLDINGS CORP NPV</title>
        <cusip>J3622S100</cusip>
        <identifiers>
          <isin value="JP3283650004"/>
          <ticker value="KOSCF"/>
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        <balance>1200</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>37206.09</valUSD>
        <pctVal>0.0023388956</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>
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      </invstOrSec>
      <invstOrSec>
        <name>JARDINE CYCLE &amp; CARRIAGE LTD</name>
        <lei>254900WEP6OCEXFWML09</lei>
        <title>JARDINE CYCLE &amp; CARRIAGE LTD NPV</title>
        <cusip>Y43703100</cusip>
        <identifiers>
          <isin value="SG1B51001017"/>
          <ticker value="JCYCF"/>
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        <balance>185000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="0.772947"/>
        <valUSD>3853868.64</valUSD>
        <pctVal>0.2422666933</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>
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      </invstOrSec>
      <invstOrSec>
        <name>SUBARU CORP</name>
        <lei>549300N244BVAEE6HH86</lei>
        <title>SUBARU CORP NPV</title>
        <cusip>J7676H100</cusip>
        <identifiers>
          <isin value="JP3814800003"/>
          <ticker value="FUJHF"/>
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        <balance>129400</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1893160.69</valUSD>
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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>RESONA HOLDINGS INC</name>
        <lei>52990067JE75XZCYYT81</lei>
        <title>RESONA HOLDINGS INC NPV</title>
        <cusip>J6448E106</cusip>
        <identifiers>
          <isin value="JP3500610005"/>
          <ticker value="RSNHF"/>
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        <balance>1230900</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
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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>ICL GROUP LTD</name>
        <lei>529900FQVQD88SHIGM04</lei>
        <title>ICL GROUP LTD ILS1</title>
        <cusip>M53213100</cusip>
        <identifiers>
          <isin value="IL0002810146"/>
          <ticker value="ICL"/>
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        <balance>242600</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="0.336038"/>
        <valUSD>1216868</valUSD>
        <pctVal>0.0764962727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KAMIGUMI CO LTD</name>
        <lei>3538004KUWA3850MUC05</lei>
        <title>KAMIGUMI CO LTD NPV</title>
        <cusip>J29438165</cusip>
        <identifiers>
          <isin value="JP3219000001"/>
          <ticker value="KMGIF"/>
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        <balance>56700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1779166.41</valUSD>
        <pctVal>0.1118441761</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>KANEKA CORP</name>
        <lei>529900FWWCF6RY313R16</lei>
        <title>KANEKA CORP NPV</title>
        <cusip>J2975N106</cusip>
        <identifiers>
          <isin value="JP3215800008"/>
          <ticker value="KANKF"/>
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        <balance>75800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
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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>MABUCHI MOTOR CO LTD</name>
        <lei>N/A</lei>
        <title>MABUCHI MOTOR CO LTD NPV</title>
        <cusip>J39186101</cusip>
        <identifiers>
          <isin value="JP3870000001"/>
          <ticker value="MBUMF"/>
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        <balance>306400</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
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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>CREDIT SAISON COMPANY LTD</name>
        <lei>529900SV58ZWTGRH3A66</lei>
        <title>CREDIT SAISON COMPANY LTD NPV</title>
        <cusip>J7007M109</cusip>
        <identifiers>
          <isin value="JP3271400008"/>
          <ticker value="CSASF"/>
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        <balance>157000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4294070.18</valUSD>
        <pctVal>0.2699391911</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>SOJITZ CORP</name>
        <lei>5493004SE33MRLPB1W98</lei>
        <title>SOJITZ CORP NPV</title>
        <cusip>J7608R119</cusip>
        <identifiers>
          <isin value="JP3663900003"/>
          <ticker value="SZHFF"/>
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        <balance>68400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2194270.69</valUSD>
        <pctVal>0.1379389787</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>SEIKO EPSON CORP</name>
        <lei>549300NIOFQDR749W206</lei>
        <title>SEIKO EPSON CORP NPV</title>
        <cusip>J7030F105</cusip>
        <identifiers>
          <isin value="JP3414750004"/>
          <ticker value="SEKEF"/>
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        <balance>214800</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3595316.72</valUSD>
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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>NITORI HOLDINGS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>NITORI HOLDINGS COMPANY LTD NPV</title>
        <cusip>J58214131</cusip>
        <identifiers>
          <isin value="JP3756100008"/>
          <ticker value="NCLTF"/>
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        <balance>206000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3052575.85</valUSD>
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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>NICE LTD</name>
        <lei>254900YTY4EF5Z4W0A51</lei>
        <title>NICE LTD ILS1</title>
        <cusip>M7494X101</cusip>
        <identifiers>
          <isin value="IL0002730112"/>
          <ticker value="NCSYF"/>
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        <balance>27900</balance>
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        <currencyConditional curCd="ILS" exchangeRt="0.336038"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>OLYMPUS CORP</name>
        <lei>5299000Y52IFDI1I2A21</lei>
        <title>OLYMPUS CORP NPV</title>
        <cusip>J61240107</cusip>
        <identifiers>
          <isin value="JP3201200007"/>
          <ticker value="OCPNF"/>
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        <balance>234400</balance>
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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>ORIX CORP</name>
        <lei>35380016EMHNBOVYE123</lei>
        <title>ORIX CORP NPV</title>
        <cusip>J61933123</cusip>
        <identifiers>
          <isin value="JP3200450009"/>
          <ticker value="ORXCF"/>
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        <balance>103800</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QANTAS AIRWAYS LTD</name>
        <lei>YLXNW6TI6QSK1H8H0N82</lei>
        <title>QANTAS AIRWAYS LTD NPV</title>
        <cusip>Q77974550</cusip>
        <identifiers>
          <isin value="AU000000QAN2"/>
          <ticker value="QUBSF"/>
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        <balance>700800</balance>
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        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>5148965.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QBE INSURANCE GROUP LTD</name>
        <lei>549300D2FBW76FPUSG65</lei>
        <title>QBE INSURANCE GROUP LTD NPV</title>
        <cusip>Q78063114</cusip>
        <identifiers>
          <isin value="AU000000QBE9"/>
          <ticker value="QBEIF"/>
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        <balance>385700</balance>
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        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
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        <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>SANKYO CO LTD</name>
        <lei>3538009H2R9ZBZAOAK48</lei>
        <title>SANKYO CO LTD NPV</title>
        <cusip>J67844100</cusip>
        <identifiers>
          <isin value="JP3326410002"/>
          <ticker value="SKXJF"/>
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        <balance>215300</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
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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>SANTEN PHARMACEUTICAL COMPANY LTD</name>
        <lei>529900TPT3I7C17MIM03</lei>
        <title>SANTEN PHARMACEUTICAL COMPANY LTD NPV</title>
        <cusip>J68467109</cusip>
        <identifiers>
          <isin value="JP3336000009"/>
          <ticker value="SNPHF"/>
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        <balance>159100</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
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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>
      <invstOrSec>
        <name>SHIMADZU CORP</name>
        <lei>353800Y64Z08WEH8PH97</lei>
        <title>SHIMADZU CORP NPV</title>
        <cusip>J72165129</cusip>
        <identifiers>
          <isin value="JP3357200009"/>
          <ticker value="SHMZF"/>
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        <balance>188000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4794848.63</valUSD>
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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>SHIONOGI &amp; CO. LTD</name>
        <lei>35380049VXDTHZI3DY35</lei>
        <title>SHIONOGI &amp; CO. LTD NPV</title>
        <cusip>J74229105</cusip>
        <identifiers>
          <isin value="JP3347200002"/>
          <ticker value="SGIOF"/>
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        <balance>249600</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4264796.38</valUSD>
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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>STANLEY ELECTRIC CO LTD</name>
        <lei>N/A</lei>
        <title>STANLEY ELECTRIC CO LTD NPV</title>
        <cusip>J76637115</cusip>
        <identifiers>
          <isin value="JP3399400005"/>
          <ticker value="STAEF"/>
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        <balance>129100</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2801110.54</valUSD>
        <pctVal>0.1760869016</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>SUMITOMO CORP</name>
        <lei>V82KK8NH1P0JS71FJC05</lei>
        <title>SUMITOMO CORP NPV</title>
        <cusip>J77282119</cusip>
        <identifiers>
          <isin value="JP3404600003"/>
          <ticker value="SSUMF"/>
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        <balance>340000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3267970.66</valUSD>
        <pctVal>0.2054352443</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>SWIRE PACIFIC LTD</name>
        <lei>549300KZOZHII0DGF611</lei>
        <title>SWIRE PACIFIC LTD 'A' NPV</title>
        <cusip>Y83310105</cusip>
        <identifiers>
          <isin value="HK0019000162"/>
          <ticker value="SWRAF"/>
        </identifiers>
        <balance>395500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="0.127505"/>
        <valUSD>4131183.05</valUSD>
        <pctVal>0.2596995774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAISEI CORP</name>
        <lei>529900TF7XJKIOWMLQ79</lei>
        <title>TAISEI CORP NPV</title>
        <cusip>J79561148</cusip>
        <identifiers>
          <isin value="JP3443600006"/>
          <ticker value="TISCF"/>
        </identifiers>
        <balance>29300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2593707.43</valUSD>
        <pctVal>0.1630488689</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>TERUMO CORP</name>
        <lei>353800JX1R4582QVK932</lei>
        <title>TERUMO CORP NPV</title>
        <cusip>J83173104</cusip>
        <identifiers>
          <isin value="JP3546800008"/>
          <ticker value="TRUMF"/>
        </identifiers>
        <balance>441600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>6031171.16</valUSD>
        <pctVal>0.3791389978</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>TOYO SEIKAN GROUP HOLDINGS LTD</name>
        <lei>5299004VWXGQPXR05T33</lei>
        <title>TOYO SEIKAN GROUP HOLDINGS LTD NPV</title>
        <cusip>J92289107</cusip>
        <identifiers>
          <isin value="JP3613400005"/>
          <ticker value="TOSKF"/>
        </identifiers>
        <balance>134500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3396073.66</valUSD>
        <pctVal>0.2134882148</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>TOYOTA BOSHOKU CORP</name>
        <lei>529900KS87U6EY7PWG26</lei>
        <title>TOYOTA BOSHOKU CORP NPV</title>
        <cusip>J91214106</cusip>
        <identifiers>
          <isin value="JP3635400009"/>
          <ticker value="TDBOF"/>
        </identifiers>
        <balance>153500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2021495.72</valUSD>
        <pctVal>0.1270777832</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>TOYOTA MOTOR CORP</name>
        <lei>5493006W3QUS5LMH6R84</lei>
        <title>TOYOTA MOTOR CORP NPV</title>
        <cusip>J92676113</cusip>
        <identifiers>
          <isin value="JP3633400001"/>
          <ticker value="TOYOF"/>
        </identifiers>
        <balance>257900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4320471.73</valUSD>
        <pctVal>0.2715988783</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>UNICHARM CORP</name>
        <lei>353800UQ4BZIJTAQEG85</lei>
        <title>UNICHARM CORP NPV</title>
        <cusip>J94104114</cusip>
        <identifiers>
          <isin value="JP3951600000"/>
          <ticker value="UNCHF"/>
        </identifiers>
        <balance>734400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4255800.02</valUSD>
        <pctVal>0.2675334046</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="4243242.780000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ILUKA RESOURCES LTD</name>
        <lei>2549009N2Y1F4YNB0955</lei>
        <title>ILUKA RESOURCES LTD NPV</title>
        <cusip>Q4875J104</cusip>
        <identifiers>
          <isin value="AU000000ILU1"/>
          <ticker value="ILKAF"/>
        </identifiers>
        <balance>433601</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>2134803.5</valUSD>
        <pctVal>0.1342006781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTELLAS PHARMA INC</name>
        <lei>529900IB708DY2HBBB35</lei>
        <title>ASTELLAS PHARMA INC NPV</title>
        <cusip>J03393105</cusip>
        <identifiers>
          <isin value="JP3942400007"/>
          <ticker value="ALPMF"/>
        </identifiers>
        <balance>500700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>6697696.71</valUSD>
        <pctVal>0.4210389576</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>DEUTSCHE BOERSE AG</name>
        <lei>529900G3SW56SHYNPR95</lei>
        <title>DEUTSCHE BOERSE AG NPV(REGD)</title>
        <cusip>D1882G119</cusip>
        <identifiers>
          <isin value="DE0005810055"/>
          <ticker value="DBOEF"/>
        </identifiers>
        <balance>59917</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>16342298.72</valUSD>
        <pctVal>1.0273299487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXA SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
        <title>AXA SA EUR2.29</title>
        <cusip>F06106102</cusip>
        <identifiers>
          <isin value="FR0000120628"/>
          <ticker value="AXAHF"/>
        </identifiers>
        <balance>149400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>7486324.25</valUSD>
        <pctVal>0.4706146448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVARTIS AG</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>NOVARTIS AG CHF0.49 (REGD)</title>
        <cusip>H5820Q150</cusip>
        <identifiers>
          <isin value="CH0012005267"/>
          <ticker value="NVSEF"/>
        </identifiers>
        <balance>131800</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>20599340.26</valUSD>
        <pctVal>1.2949413993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADECCO GROUP SA/AG</name>
        <lei>NI14Y5UMU60O7JE9P611</lei>
        <title>ADECCO GROUP SA/AG CHF0.1 (REGD)</title>
        <cusip>H00392318</cusip>
        <identifiers>
          <isin value="CH0012138605"/>
          <ticker value="ADEN"/>
        </identifiers>
        <balance>106800</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>1970737.66</valUSD>
        <pctVal>0.1238869668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUINOR ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>EQUINOR ASA NOK2.50</title>
        <cusip>R2R90P103</cusip>
        <identifiers>
          <isin value="NO0010096985"/>
          <ticker value="STOHF"/>
        </identifiers>
        <balance>139300</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="0.101025"/>
        <valUSD>4392600.13</valUSD>
        <pctVal>0.2761331036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENI SPA</name>
        <lei>BUCRF72VH5RBN7X3VL35</lei>
        <title>ENI SPA NPV</title>
        <cusip>T3643A145</cusip>
        <identifiers>
          <isin value="IT0003132476"/>
          <ticker value="EIPAF"/>
        </identifiers>
        <balance>163700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3840661.5</valUSD>
        <pctVal>0.2414364496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PETROLEO BRASILEIRO SA</name>
        <lei>5493000J801JZRCMFE49</lei>
        <title>PETROLEO BRASILEIRO SA SPON ADR REP 2 PRF SHS</title>
        <cusip>71654V101</cusip>
        <identifiers>
          <isin value="US71654V1017"/>
          <ticker value="PBR/A"/>
        </identifiers>
        <balance>166845</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2442610.8</valUSD>
        <pctVal>0.1535504442</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ESSILORLUXOTTICA SA</name>
        <lei>549300M3VH1A3ER1TB49</lei>
        <title>ESSILORLUXOTTICA SA EUR0.18</title>
        <cusip>F31665106</cusip>
        <identifiers>
          <isin value="FR0000121667"/>
          <ticker value="ESLOF"/>
        </identifiers>
        <balance>22053</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>4140914.44</valUSD>
        <pctVal>0.2603113241</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CREDIT AGRICOLE SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>CREDIT AGRICOLE SA EUR3</title>
        <cusip>F22797108</cusip>
        <identifiers>
          <isin value="FR0000045072"/>
          <ticker value="CRARF"/>
        </identifiers>
        <balance>145900</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2934488.63</valUSD>
        <pctVal>0.1844714814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP PARIBAS SA EUR2</title>
        <cusip>F1058Q238</cusip>
        <identifiers>
          <isin value="FR0000131104"/>
          <ticker value="BNPQF"/>
        </identifiers>
        <balance>55600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>6493677.01</valUSD>
        <pctVal>0.4082136169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KLEPIERRE SA</name>
        <lei>969500PB4U31KEFHZ621</lei>
        <title>KLEPIERRE SA EUR1.40</title>
        <cusip>F5396X102</cusip>
        <identifiers>
          <isin value="FR0000121964"/>
          <ticker value="KLPEF"/>
        </identifiers>
        <balance>72500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3030022.17</valUSD>
        <pctVal>0.1904770298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD SPON ADS REP 5 ORD TWD10</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
          <ticker value="TSM"/>
        </identifiers>
        <balance>66901</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31949910.26</valUSD>
        <pctVal>2.0084750762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOYO SUISAN KAISHA LTD</name>
        <lei>N/A</lei>
        <title>TOYO SUISAN KAISHA LTD NPV</title>
        <cusip>892306101</cusip>
        <identifiers>
          <isin value="JP3613000003"/>
          <ticker value="TSUKF"/>
        </identifiers>
        <balance>139900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>8960343.74</valUSD>
        <pctVal>0.5632762950</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>WATERS CORP</name>
        <lei>5T547R1474YC9HOD8Q74</lei>
        <title>WATERS CORP COM</title>
        <cusip>941848103</cusip>
        <identifiers>
          <isin value="US9418481035"/>
          <ticker value="WAT"/>
        </identifiers>
        <balance>19984</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7494799.47</valUSD>
        <pctVal>0.4711474247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC ORD USD0.50</title>
        <cusip>G4634U169</cusip>
        <identifiers>
          <isin value="GB0005405286"/>
          <ticker value="HBCYF"/>
        </identifiers>
        <balance>447300</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>8456967</valUSD>
        <pctVal>0.5316323990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SKF AB</name>
        <lei>549300B6HWYEE57O8J84</lei>
        <title>SKF AB SER'B'NPV</title>
        <cusip>W84237143</cusip>
        <identifiers>
          <isin value="SE0000108227"/>
          <ticker value="SKUFF"/>
        </identifiers>
        <balance>49700</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>1276635.13</valUSD>
        <pctVal>0.0802534285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SWISS RE AG</name>
        <lei>529900PS9YW3YY29F326</lei>
        <title>SWISS RE AG USD0.12</title>
        <cusip>H8431B109</cusip>
        <identifiers>
          <isin value="CH0126881561"/>
          <ticker value="SSREF"/>
        </identifiers>
        <balance>46700</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>7422960.74</valUSD>
        <pctVal>0.4666314089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHECK POINT SOFTWARE TECHNOLOGIES LTD</name>
        <lei>2549003ZVBH73EPNS513</lei>
        <title>CHECK POINT SOFTWARE TECHNOLOGIES LTD ORD ILS0.01</title>
        <cusip>M22465104</cusip>
        <identifiers>
          <isin value="IL0010824113"/>
          <ticker value="CHKP"/>
        </identifiers>
        <balance>38751</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5093043.82</valUSD>
        <pctVal>0.3201652678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KONTRON AG</name>
        <lei>5299002PSXXMVHB26433</lei>
        <title>KONTRON AG NPV</title>
        <cusip>A7511S104</cusip>
        <identifiers>
          <isin value="AT0000A0E9W5"/>
          <ticker value="KTRNF"/>
        </identifiers>
        <balance>76800</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2042828.8</valUSD>
        <pctVal>0.1284188499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1785789.410000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAWAG GROUP AG</name>
        <lei>529900S9YO2JHTIIDG38</lei>
        <title>BAWAG GROUP AG NPV</title>
        <cusip>A0997C107</cusip>
        <identifiers>
          <isin value="AT0000BAWAG2"/>
          <ticker value="BWAGF"/>
        </identifiers>
        <balance>18900</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3789135.06</valUSD>
        <pctVal>0.2381973303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGILENT TECHNOLOGIES INC</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>AGILENT TECHNOLOGIES INC COM USD0.01</title>
        <cusip>00846U101</cusip>
        <identifiers>
          <isin value="US00846U1016"/>
          <ticker value="A"/>
        </identifiers>
        <balance>68742</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9130999.92</valUSD>
        <pctVal>0.5740042965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLICIS GROUPE SA</name>
        <lei>2138004KW8BV57III342</lei>
        <title>PUBLICIS GROUPE SA EUR0.40</title>
        <cusip>F7607Z165</cusip>
        <identifiers>
          <isin value="FR0000130577"/>
          <ticker value="PGPEF"/>
        </identifiers>
        <balance>31100</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3073381.25</valUSD>
        <pctVal>0.1932027223</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="3130272.350000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>DANSKE BANK A/S DKK10</title>
        <cusip>K22272114</cusip>
        <identifiers>
          <isin value="DK0010274414"/>
          <ticker value="DNSKF"/>
        </identifiers>
        <balance>110400</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>5917725.76</valUSD>
        <pctVal>0.3720074517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA EUR0.50(REGD)</title>
        <cusip>E19790109</cusip>
        <identifiers>
          <isin value="ES0113900J37"/>
          <ticker value="SAN"/>
        </identifiers>
        <balance>716600.01</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>9946270.63</valUSD>
        <pctVal>0.6252548599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DBS GROUP HOLDINGS LTD</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS GROUP HOLDINGS LTD NPV</title>
        <cusip>Y20246107</cusip>
        <identifiers>
          <isin value="SG1L01001701"/>
          <ticker value="DBSDF"/>
        </identifiers>
        <balance>61970</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="0.772947"/>
        <valUSD>3137838.56</valUSD>
        <pctVal>0.1972547181</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>NGK CORP</name>
        <lei>353800701BNCL25VYY16</lei>
        <title>NGK CORP NPV</title>
        <cusip>J49076110</cusip>
        <identifiers>
          <isin value="JP3695200000"/>
          <ticker value="NGKIF"/>
        </identifiers>
        <balance>70800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3336745.95</valUSD>
        <pctVal>0.2097586823</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>NTT INC</name>
        <lei>353800VHQU5VIXVUA841</lei>
        <title>NTT INC NPV</title>
        <cusip>J59396101</cusip>
        <identifiers>
          <isin value="JP3735400008"/>
          <ticker value="NPPXF"/>
        </identifiers>
        <balance>1726600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1535860.69</valUSD>
        <pctVal>0.0965491888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA HOLDINGS INC</name>
        <lei>549300B3CEAHYG7K8164</lei>
        <title>NOMURA HOLDINGS INC NPV</title>
        <cusip>J58646100</cusip>
        <identifiers>
          <isin value="JP3762600009"/>
          <ticker value="NRSCF"/>
        </identifiers>
        <balance>603500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>5298689.03</valUSD>
        <pctVal>0.3330927933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIPPON YUSEN KABUSHIKI KAISHA</name>
        <lei>353800YPW4XM0ZN5I149</lei>
        <title>NIPPON YUSEN KABUSHIKI KAISHA NPV</title>
        <cusip>J56515232</cusip>
        <identifiers>
          <isin value="JP3753000003"/>
          <ticker value="NYUKF"/>
        </identifiers>
        <balance>87900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2843071.31</valUSD>
        <pctVal>0.1787246919</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>ONO PHARMACEUTICAL CO LTD</name>
        <lei>529900G26L4NG4GFJZ86</lei>
        <title>ONO PHARMACEUTICAL CO LTD NPV</title>
        <cusip>J61546115</cusip>
        <identifiers>
          <isin value="JP3197600004"/>
          <ticker value="OPHLF"/>
        </identifiers>
        <balance>184900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2717930.55</valUSD>
        <pctVal>0.1708579374</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>ELECTRIC POWER DEVELOPMENT CO LTD</name>
        <lei>549300KMHPUAQI8VEH90</lei>
        <title>ELECTRIC POWER DEVELOPMENT CO LTD NPV</title>
        <cusip>J12915104</cusip>
        <identifiers>
          <isin value="JP3551200003"/>
          <ticker value="EPWDF"/>
        </identifiers>
        <balance>204800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4627756.17</valUSD>
        <pctVal>0.2909157757</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>RELX PLC</name>
        <lei>549300WSX3VBUFFJOO66</lei>
        <title>RELX PLC ORD GBP0.1444</title>
        <cusip>G7493L105</cusip>
        <identifiers>
          <isin value="GB00B2B0DG97"/>
          <ticker value="RLXXF"/>
        </identifiers>
        <balance>224328</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>7086868.9</valUSD>
        <pctVal>0.4455035848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WHEATON PRECIOUS METALS CORP</name>
        <lei>549300XSFG5ZCGVYD886</lei>
        <title>WHEATON PRECIOUS METALS CORP COM NPV</title>
        <cusip>962879102</cusip>
        <identifiers>
          <isin value="CA9628791027"/>
          <ticker value="WPM"/>
        </identifiers>
        <balance>124774</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="0.705094"/>
        <valUSD>14035920.35</valUSD>
        <pctVal>0.8823435173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIMLER TRUCK HOLDING AG</name>
        <lei>529900PW78JIYOUBSR24</lei>
        <title>DAIMLER TRUCK HOLDING AG NPV</title>
        <cusip>D1T3RZ100</cusip>
        <identifiers>
          <isin value="DE000DTR0CK8"/>
          <ticker value="DTGHF"/>
        </identifiers>
        <balance>95500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>4605859.63</valUSD>
        <pctVal>0.2895392881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GSK PLC</name>
        <lei>5493000HZTVUYLO1D793</lei>
        <title>GSK PLC ORD GBP0.3125</title>
        <cusip>G3910J179</cusip>
        <identifiers>
          <isin value="GB00BN7SWP63"/>
          <ticker value="GLAXF"/>
        </identifiers>
        <balance>444400</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>11663875.38</valUSD>
        <pctVal>0.7332290702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WILLIS TOWERS WATSON PLC</name>
        <lei>549300WHC56FF48KL350</lei>
        <title>WILLIS TOWERS WATSON PLC COM USD0.000304635</title>
        <cusip>G96629103</cusip>
        <identifiers>
          <isin value="IE00BDB6Q211"/>
          <ticker value="WTW"/>
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        <balance>34708</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9071629.94</valUSD>
        <pctVal>0.5702721068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMI PLC</name>
        <lei>2138002W9Q21PF751R30</lei>
        <title>IMI PLC ORD GBP0.28571428</title>
        <cusip>G47152114</cusip>
        <identifiers>
          <isin value="GB00BGLP8L22"/>
          <ticker value="IMIAF"/>
        </identifiers>
        <balance>262631</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>10339197.45</valUSD>
        <pctVal>0.6499555153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL BANK OF GREECE SA</name>
        <lei>5UMCZOEYKCVFAW8ZLO05</lei>
        <title>NATIONAL BANK OF GREECE SA EUR1.00 (POST CONS)</title>
        <cusip>X56533189</cusip>
        <identifiers>
          <isin value="GRS003003035"/>
          <ticker value="NBGIF"/>
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        <balance>216521</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3740721.19</valUSD>
        <pctVal>0.2351538773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FERROTEC CORP</name>
        <lei>3538005N4KWZD4R07U97</lei>
        <title>FERROTEC CORP NPV</title>
        <cusip>J1347N109</cusip>
        <identifiers>
          <isin value="JP3802720007"/>
          <ticker value="FRRZF"/>
        </identifiers>
        <balance>24100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1441051.38</valUSD>
        <pctVal>0.0905891678</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>TENARIS SA</name>
        <lei>549300Y7C05BKC4HZB40</lei>
        <title>TENARIS SA USD1</title>
        <cusip>L90272136</cusip>
        <identifiers>
          <isin value="LU2598331598"/>
          <ticker value="TNRSF"/>
        </identifiers>
        <balance>309881</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>8578201.12</valUSD>
        <pctVal>0.5392535694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUROCOMMERCIAL PROPERTIES NV</name>
        <lei>724500SFK53FPNM68L95</lei>
        <title>EUROCOMMERCIAL PROPERTIES NV EUR10(STK DIV 22/06/2026)</title>
        <cusip>N31068252</cusip>
        <identifiers>
          <isin value="NL00150745E7"/>
          <ticker value="2660110D"/>
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        <balance>82400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASR NEDERLAND NV</name>
        <lei>7245000G0HS48PZWUD53</lei>
        <title>ASR NEDERLAND NV EUR0.16</title>
        <cusip>N0709G103</cusip>
        <identifiers>
          <isin value="NL0011872643"/>
          <ticker value="ASRRF"/>
        </identifiers>
        <balance>41800</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3156761.5</valUSD>
        <pctVal>0.1984442755</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>NCC AB</name>
        <lei>213800WRGLW3CY4MHW53</lei>
        <title>NCC AB SER'B'NPV</title>
        <cusip>W5691F104</cusip>
        <identifiers>
          <isin value="SE0000117970"/>
          <ticker value="NCCBF"/>
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        <balance>98000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>1928928.34</valUSD>
        <pctVal>0.1212586972</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>
      <invstOrSec>
        <name>SUPER RETAIL GROUP LTD</name>
        <lei>9845001C5140A8CK7D81</lei>
        <title>SUPER RETAIL GROUP LTD NPV</title>
        <cusip>Q88009107</cusip>
        <identifiers>
          <isin value="AU000000SUL0"/>
          <ticker value="SSGRF"/>
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        <balance>202900</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>1853496.08</valUSD>
        <pctVal>0.1165167805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VENTIA SERVICES GROUP LTD</name>
        <lei>N/A</lei>
        <title>VENTIA SERVICES GROUP LTD NPV</title>
        <cusip>Q9394Q109</cusip>
        <identifiers>
          <isin value="AU0000184459"/>
          <ticker value="VNTSF"/>
        </identifiers>
        <balance>532600</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>2284726.63</valUSD>
        <pctVal>0.1436253327</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>HELIA GROUP LTD</name>
        <lei>529900RUQ2G0JXJOF423</lei>
        <title>HELIA GROUP LTD NPV</title>
        <cusip>Q3983N155</cusip>
        <identifiers>
          <isin value="AU0000251498"/>
          <ticker value="HLIGF"/>
        </identifiers>
        <balance>898600</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>3445625.5</valUSD>
        <pctVal>0.2166032043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J SAINSBURY PLC</name>
        <lei>213800VGZAAJIKJ9Y484</lei>
        <title>J SAINSBURY PLC ORD GBP0.28571428</title>
        <cusip>G77732173</cusip>
        <identifiers>
          <isin value="GB00B019KW72"/>
          <ticker value="JSNSF"/>
        </identifiers>
        <balance>688900</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>2922514.46</valUSD>
        <pctVal>0.1837187462</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>AL SYDBANK A/S</name>
        <lei>GP5DT10VX1QRQUKVBK64</lei>
        <title>AL SYDBANK A/S DKK10</title>
        <cusip>K9419V113</cusip>
        <identifiers>
          <isin value="DK0010311471"/>
          <ticker value="SYANF"/>
        </identifiers>
        <balance>26800</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>2365063.75</valUSD>
        <pctVal>0.1486755849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HEINEKEN HOLDING NV</name>
        <lei>724500M1WJLFM9TYBS04</lei>
        <title>HEINEKEN HOLDING NV EUR1.60</title>
        <cusip>N39338194</cusip>
        <identifiers>
          <isin value="NL0000008977"/>
          <ticker value="HKHHF"/>
        </identifiers>
        <balance>46000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3502891.35</valUSD>
        <pctVal>0.2202031215</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>MITSUBISHI CHEMICAL GROUP CORP</name>
        <lei>353800YNKX4RQUGAR072</lei>
        <title>MITSUBISHI CHEMICAL GROUP CORP NPV</title>
        <cusip>J44046100</cusip>
        <identifiers>
          <isin value="JP3897700005"/>
          <ticker value="MTLHF"/>
        </identifiers>
        <balance>347200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2436282.5</valUSD>
        <pctVal>0.1531526267</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>SCHINDLER HOLDING AG</name>
        <lei>5299007DRLI319H7Q933</lei>
        <title>SCHINDLER HOLDING AG CHF0.10 (PTG CERT)</title>
        <cusip>H7258G209</cusip>
        <identifiers>
          <isin value="CH0024638196"/>
          <ticker value="SHLAF"/>
        </identifiers>
        <balance>10547</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>3496294.9</valUSD>
        <pctVal>0.2197884473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</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>
      <invstOrSec>
        <name>LEGRAND SA</name>
        <lei>969500XXRPGD7HCAFA90</lei>
        <title>LEGRAND SA EUR4</title>
        <cusip>F56196185</cusip>
        <identifiers>
          <isin value="FR0010307819"/>
          <ticker value="LGRVF"/>
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        <balance>121078</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>20515907.93</valUSD>
        <pctVal>1.2896965722</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>HUSQVARNA AB</name>
        <lei>549300GYQIIJ3UXB7655</lei>
        <title>HUSQVARNA AB SER'B'NPV</title>
        <cusip>W4235G116</cusip>
        <identifiers>
          <isin value="SE0001662230"/>
          <ticker value="HUSQF"/>
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        <balance>348100</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>1352410.78</valUSD>
        <pctVal>0.0850169319</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>
      <invstOrSec>
        <name>EIFFAGE SA</name>
        <lei>969500OQXKE5WDM9M994</lei>
        <title>EIFFAGE SA EUR4</title>
        <cusip>F2924U106</cusip>
        <identifiers>
          <isin value="FR0000130452"/>
          <ticker value="EFGSF"/>
        </identifiers>
        <balance>12400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1829057.38</valUSD>
        <pctVal>0.1149804845</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>TOTALENERGIES SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TOTALENERGIES SE EUR2.5</title>
        <cusip>F92124100</cusip>
        <identifiers>
          <isin value="FR0000120271"/>
          <ticker value="TTE"/>
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        <balance>422294</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>32653983.51</valUSD>
        <pctVal>2.0527354063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXPERIAN PLC</name>
        <lei>635400RXXHHYT1JTSZ26</lei>
        <title>EXPERIAN PLC ORD USD0.10</title>
        <cusip>G32655105</cusip>
        <identifiers>
          <isin value="GB00B19NLV48"/>
          <ticker value="EXPGF"/>
        </identifiers>
        <balance>260369</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>8771947.95</valUSD>
        <pctVal>0.5514331240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYMRISE AG</name>
        <lei>529900D82I6R9601CF26</lei>
        <title>SYMRISE AG NPV (BR)</title>
        <cusip>D827A1108</cusip>
        <identifiers>
          <isin value="DE000SYM9999"/>
          <ticker value="SYIEF"/>
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        <balance>136751</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>13717429.44</valUSD>
        <pctVal>0.8623221448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOLVO AB</name>
        <lei>549300HGV012CNC8JD22</lei>
        <title>VOLVO AB SER'B'NPV</title>
        <cusip>928856301</cusip>
        <identifiers>
          <isin value="SE0000115446"/>
          <ticker value="VOLVF"/>
        </identifiers>
        <balance>247600</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>8422303.94</valUSD>
        <pctVal>0.5294533665</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="7207503.290000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SVENSKA CELLULOSA AB SCA</name>
        <lei>549300FW5JDRV1IJ0M67</lei>
        <title>SVENSKA CELLULOSA AB SCA SER'B'NPV</title>
        <cusip>W90152120</cusip>
        <identifiers>
          <isin value="SE0000112724"/>
          <ticker value="SVCBF"/>
        </identifiers>
        <balance>432383</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>4422007.57</valUSD>
        <pctVal>0.2779817508</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="162538.860000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAIXABANK SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CAIXABANK SA EUR1</title>
        <cusip>E2427M123</cusip>
        <identifiers>
          <isin value="ES0140609019"/>
          <ticker value="CIXPF"/>
        </identifiers>
        <balance>935758</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>13257930.96</valUSD>
        <pctVal>0.8334365787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMADEUS IT GROUP SA</name>
        <lei>9598004A3FTY3TEHHN09</lei>
        <title>AMADEUS IT GROUP SA EUR0.01</title>
        <cusip>E04648114</cusip>
        <identifiers>
          <isin value="ES0109067019"/>
          <ticker value="AMADF"/>
        </identifiers>
        <balance>119323</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>6980520.9</valUSD>
        <pctVal>0.4388182043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLENCORE PLC</name>
        <lei>2138002658CPO9NBH955</lei>
        <title>GLENCORE PLC ORD USD0.01</title>
        <cusip>G39420107</cusip>
        <identifiers>
          <isin value="JE00B4T3BW64"/>
          <ticker value="GLCNF"/>
        </identifiers>
        <balance>1901202</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>12960717.89</valUSD>
        <pctVal>0.8147528003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KBC ANCORA SA</name>
        <lei>549300I4XZ0RR3ZOSZ55</lei>
        <title>KBC ANCORA SA NPV</title>
        <cusip>B5341G109</cusip>
        <identifiers>
          <isin value="BE0003867844"/>
          <ticker value="ACVBF"/>
        </identifiers>
        <balance>24400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2293514.81</valUSD>
        <pctVal>0.1441777863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIICHI LIFE GROUP INC</name>
        <lei>549300ZUFXI7JXZVTZ25</lei>
        <title>DAIICHI LIFE GROUP INC NPV</title>
        <cusip>J09748112</cusip>
        <identifiers>
          <isin value="JP3476480003"/>
          <ticker value="DCNSF"/>
        </identifiers>
        <balance>306000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3341136.98</valUSD>
        <pctVal>0.2100347167</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>NOVONESIS A/S</name>
        <lei>529900T6WNZXD2R3JW38</lei>
        <title>NOVONESIS A/S SER'B'DKK2</title>
        <cusip>K7317J133</cusip>
        <identifiers>
          <isin value="DK0060336014"/>
          <ticker value="NVZMF"/>
        </identifiers>
        <balance>20987</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>1324670.74</valUSD>
        <pctVal>0.0832731029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AEGON LTD</name>
        <lei>O4QK7KMMK83ITNTHUG69</lei>
        <title>AEGON LTD EUR0.12</title>
        <cusip>G0112X105</cusip>
        <identifiers>
          <isin value="BMG0112X1056"/>
          <ticker value="AEGOF"/>
        </identifiers>
        <balance>604700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>5146217.32</valUSD>
        <pctVal>0.3235079266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HISCOX LTD</name>
        <lei>5493007JXOLJ0QCY2D70</lei>
        <title>HISCOX LTD ORD GBP0.065 (DI)</title>
        <cusip>G4593F138</cusip>
        <identifiers>
          <isin value="BMG4593F1389"/>
          <ticker value="HCXLF"/>
        </identifiers>
        <balance>200881</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>4919539.17</valUSD>
        <pctVal>0.3092582023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRANCO-NEVADA CORP</name>
        <lei>98450064C1B5D3E94864</lei>
        <title>FRANCO-NEVADA CORP COM NPV</title>
        <cusip>351858105</cusip>
        <identifiers>
          <isin value="CA3518581051"/>
          <ticker value="FNV"/>
        </identifiers>
        <balance>110197</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="0.705094"/>
        <valUSD>22993547.3</valUSD>
        <pctVal>1.4454490260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TECK RESOURCES LTD</name>
        <lei>T8KI5SQ2JRWHL7XY0E11</lei>
        <title>TECK RESOURCES LTD CLASS'B'SUB-VTG COM NPV</title>
        <cusip>878742204</cusip>
        <identifiers>
          <isin value="CA8787422044"/>
          <ticker value="TECK"/>
          <other otherDesc="In-House" value="2879327"/>
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        <balance>95580</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="0.705094"/>
        <valUSD>5692679.38</valUSD>
        <pctVal>0.3578603057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVOLTA AG</name>
        <lei>549300X53WDBVW7TIF57</lei>
        <title>AVOLTA AG CHF5 (REGD)</title>
        <cusip>H2082J107</cusip>
        <identifiers>
          <isin value="CH0023405456"/>
          <ticker value="DFRYF"/>
        </identifiers>
        <balance>60300</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>4028463.08</valUSD>
        <pctVal>0.2532422666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA HBC AG</name>
        <lei>549300EFP3TNG7JGVE49</lei>
        <title>COCA-COLA HBC AG ORD CHF6.70(CDI)</title>
        <cusip>H1512E100</cusip>
        <identifiers>
          <isin value="CH0198251305"/>
          <ticker value="CCHBF"/>
        </identifiers>
        <balance>23300</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>1518216.41</valUSD>
        <pctVal>0.0954400120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPAGNIE FINANCIERE RICHEMONT SA</name>
        <lei>549300YIPGJ6UX2QPS51</lei>
        <title>COMPAGNIE FINANCIERE RICHEMONT SA CHF1 (REGD)</title>
        <cusip>H25662182</cusip>
        <identifiers>
          <isin value="CH0210483332"/>
          <ticker value="CFRHF"/>
        </identifiers>
        <balance>28912</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>6673710.29</valUSD>
        <pctVal>0.4195310933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS GROUP AG USD0.10 (REGD)</title>
        <cusip>H42097107</cusip>
        <identifiers>
          <isin value="CH0244767585"/>
          <ticker value="UBS"/>
        </identifiers>
        <balance>519450</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>25744529.86</valUSD>
        <pctVal>1.6183847201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIKA AG</name>
        <lei>549300R3N69ECGYPU434</lei>
        <title>SIKA AG CHF0.01 (REG)</title>
        <cusip>H7631K273</cusip>
        <identifiers>
          <isin value="CH0418792922"/>
          <ticker value="SKFOF"/>
        </identifiers>
        <balance>28437</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>5864165.28</valUSD>
        <pctVal>0.3686404660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALCON AG</name>
        <lei>549300LDT5AP8S0NBM78</lei>
        <title>ALCON AG CHF0.04</title>
        <cusip>H01301128</cusip>
        <identifiers>
          <isin value="CH0432492467"/>
          <ticker value="ALC"/>
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        <balance>78054</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>5263175.85</valUSD>
        <pctVal>0.3308603195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANDOZ GROUP AG</name>
        <lei>5493000JWK6XWFEUD320</lei>
        <title>SANDOZ GROUP AG CHF0.05</title>
        <cusip>H7140B103</cusip>
        <identifiers>
          <isin value="CH1243598427"/>
          <ticker value="SDZXF"/>
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        <balance>147970</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>13369676.86</valUSD>
        <pctVal>0.8404612887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROCHE HOLDING AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>ROCHE HOLDING AG CHF0.001</title>
        <cusip>H69293266</cusip>
        <identifiers>
          <isin value="CH1499059983"/>
          <ticker value="RHHVF"/>
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        <balance>52036</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>21391290</valUSD>
        <pctVal>1.3447259308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOUYGUES SA</name>
        <lei>969500MOCLNQFNZN0D63</lei>
        <title>BOUYGUES SA EUR1</title>
        <cusip>F11487125</cusip>
        <identifiers>
          <isin value="FR0000120503"/>
          <ticker value="BOUYF"/>
        </identifiers>
        <balance>88500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>4942155.88</valUSD>
        <pctVal>0.3106799621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AURUBIS AG</name>
        <lei>5299005SHIN9ZK7GW242</lei>
        <title>AURUBIS AG NPV</title>
        <cusip>D10004105</cusip>
        <identifiers>
          <isin value="DE0006766504"/>
          <ticker value="AIAGF"/>
        </identifiers>
        <balance>24160</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>5007696.24</valUSD>
        <pctVal>0.3148000419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4038554.480000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JENOPTIK AG</name>
        <lei>529900P34GDHGXK6VB37</lei>
        <title>JENOPTIK AG NPV</title>
        <cusip>D3S19K104</cusip>
        <identifiers>
          <isin value="DE000A2NB601"/>
          <ticker value="JNPKF"/>
        </identifiers>
        <balance>63600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3429205</valUSD>
        <pctVal>0.2155709583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARLSBERG A/S</name>
        <lei>5299001O0WJQYB5GYZ19</lei>
        <title>CARLSBERG A/S SER'B'DKK20</title>
        <cusip>K36628137</cusip>
        <identifiers>
          <isin value="DK0010181759"/>
          <ticker value="CABJF"/>
        </identifiers>
        <balance>14020</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>1834650</valUSD>
        <pctVal>0.1153320547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KERRY GROUP PLC</name>
        <lei>635400TLVVBNXLFHWC59</lei>
        <title>KERRY GROUP PLC 'A'ORD EUR0.125</title>
        <cusip>G52416107</cusip>
        <identifiers>
          <isin value="IE0004906560"/>
          <ticker value="KRYAF"/>
        </identifiers>
        <balance>58911</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>5403924.04</valUSD>
        <pctVal>0.3397082076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIXT SE</name>
        <lei>5299004ZME6CSBR7WP07</lei>
        <title>SIXT SE ORD NPV</title>
        <cusip>D69899116</cusip>
        <identifiers>
          <isin value="DE0007231326"/>
          <ticker value="SIXGF"/>
        </identifiers>
        <balance>20900</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1523174.36</valUSD>
        <pctVal>0.0957516849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRATON SE</name>
        <lei>529900UIMQRKPFN6SV80</lei>
        <title>TRATON SE NPV (NEW)</title>
        <cusip>D8T4KC101</cusip>
        <identifiers>
          <isin value="DE000TRAT0N7"/>
          <ticker value="TRATF"/>
        </identifiers>
        <balance>84000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3189149.94</valUSD>
        <pctVal>0.2004803180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3019263.480000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OMV AG</name>
        <lei>549300V62YJ9HTLRI486</lei>
        <title>OMV AG NPV</title>
        <cusip>A51460110</cusip>
        <identifiers>
          <isin value="AT0000743059"/>
          <ticker value="OMVJF"/>
        </identifiers>
        <balance>39600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2488517.76</valUSD>
        <pctVal>0.1564363047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PERNOD RICARD SA</name>
        <lei>52990097YFPX9J0H5D87</lei>
        <title>PERNOD RICARD SA EUR1.55</title>
        <cusip>F72027109</cusip>
        <identifiers>
          <isin value="FR0000120693"/>
          <ticker value="PDRDF"/>
        </identifiers>
        <balance>67187</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>4883657.42</valUSD>
        <pctVal>0.3070025590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCHNEIDER ELECTRIC SE</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>SCHNEIDER ELECTRIC SE EUR4.00</title>
        <cusip>F86921107</cusip>
        <identifiers>
          <isin value="FR0000121972"/>
          <ticker value="SBGSF"/>
        </identifiers>
        <balance>70639</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>23114820.89</valUSD>
        <pctVal>1.4530726776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE ORD NPV</title>
        <cusip>D66992104</cusip>
        <identifiers>
          <isin value="DE0007164600"/>
          <ticker value="SAPGF"/>
        </identifiers>
        <balance>63163</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>9736429.85</valUSD>
        <pctVal>0.6120635872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SWEDBANK AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>SWEDBANK AB SER'A'NPV</title>
        <cusip>W94232100</cusip>
        <identifiers>
          <isin value="SE0000242455"/>
          <ticker value="SWDBF"/>
        </identifiers>
        <balance>150500</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>5622056.48</valUSD>
        <pctVal>0.3534207209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEIERSDORF AG</name>
        <lei>L47NHHI0Z9X22DV46U41</lei>
        <title>BEIERSDORF AG NPV</title>
        <cusip>D08792109</cusip>
        <identifiers>
          <isin value="DE0005200000"/>
          <ticker value="BDRFF"/>
        </identifiers>
        <balance>46721</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>4023766.5</valUSD>
        <pctVal>0.2529470243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3606421.870000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEAMVIEWER SE</name>
        <lei>3912000FZ0R0KEK9JS42</lei>
        <title>TEAMVIEWER SE NPV</title>
        <cusip>D8T895100</cusip>
        <identifiers>
          <isin value="DE000A2YN900"/>
          <ticker value="TMVWF"/>
        </identifiers>
        <balance>161000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>905548.13</valUSD>
        <pctVal>0.0569256951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="87158.250000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KRONES AG</name>
        <lei>529900NY2GSZWWUBW049</lei>
        <title>KRONES AG ORD NPV</title>
        <cusip>D47441171</cusip>
        <identifiers>
          <isin value="DE0006335003"/>
          <ticker value="KRNNF"/>
        </identifiers>
        <balance>13800</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1772307.63</valUSD>
        <pctVal>0.1114130110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUGO BOSS AG</name>
        <lei>529900LFVU534EBRXD13</lei>
        <title>HUGO BOSS AG NPV (REGD)</title>
        <cusip>D34902102</cusip>
        <identifiers>
          <isin value="DE000A1PHFF7"/>
          <ticker value="BOSS"/>
        </identifiers>
        <balance>44000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1890274.87</valUSD>
        <pctVal>0.1188288146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1897037.190000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>COMMERZBANK AG</name>
        <lei>851WYGNLUQLFZBSYGB56</lei>
        <title>COMMERZBANK AG NPV</title>
        <cusip>D172W1279</cusip>
        <identifiers>
          <isin value="DE000CBK1001"/>
          <ticker value="CRZBF"/>
        </identifiers>
        <balance>133900</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>5703407.13</valUSD>
        <pctVal>0.3585346869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5624376.760000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>A2A SPA</name>
        <lei>81560076E3944316DB24</lei>
        <title>A2A SPA EUR0.52</title>
        <cusip>T0579B105</cusip>
        <identifiers>
          <isin value="IT0001233417"/>
          <ticker value="AEMMF"/>
        </identifiers>
        <balance>1171400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3021225.69</valUSD>
        <pctVal>0.1899240545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANOFI SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI SA EUR2</title>
        <cusip>F5548N101</cusip>
        <identifiers>
          <isin value="FR0000120578"/>
          <ticker value="SNYNF"/>
        </identifiers>
        <balance>123600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>10568212.32</valUSD>
        <pctVal>0.6643521335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BMW - BAYERISCHE MOTOREN WERKE AG</name>
        <lei>YEH5ZCD6E441RHVHD759</lei>
        <title>BMW - BAYERISCHE MOTOREN WERKE AG EUR1</title>
        <cusip>D12096109</cusip>
        <identifiers>
          <isin value="DE0005190003"/>
          <ticker value="BAMXF"/>
        </identifiers>
        <balance>52500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3446545.23</valUSD>
        <pctVal>0.2166610215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLRUYT GROUP NV</name>
        <lei>5493000O0NZ1BCXO8K39</lei>
        <title>COLRUYT GROUP NV NPV</title>
        <cusip>B26882231</cusip>
        <identifiers>
          <isin value="BE0974256852"/>
          <ticker value="CUYTF"/>
        </identifiers>
        <balance>43400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1783567.96</valUSD>
        <pctVal>0.1121208719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOKIA OYJ (NOKIA CORP)</name>
        <lei>549300A0JPRWG1KI7U06</lei>
        <title>NOKIA OYJ (NOKIA CORP) NPV</title>
        <cusip>X61873133</cusip>
        <identifiers>
          <isin value="FI0009000681"/>
          <ticker value="NOKBF"/>
        </identifiers>
        <balance>199100</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2655233.97</valUSD>
        <pctVal>0.1669166269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SONAE SGPS SA</name>
        <lei>549300847SOBT7HY7R50</lei>
        <title>SONAE SGPS SA EUR1</title>
        <cusip>X8252W176</cusip>
        <identifiers>
          <isin value="PTSON0AM0001"/>
          <ticker value="SOSSF"/>
        </identifiers>
        <balance>1244700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2866301.52</valUSD>
        <pctVal>0.1801850183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI HC CAPITAL INC</name>
        <lei>353800MZ3QX9RLMH7B09</lei>
        <title>MITSUBISHI HC CAPITAL INC NPV</title>
        <cusip>J4706D100</cusip>
        <identifiers>
          <isin value="JP3499800005"/>
          <ticker value="MIUFF"/>
        </identifiers>
        <balance>301900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2452346.89</valUSD>
        <pctVal>0.1541624864</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>HIROSE ELECTRIC CO LTD</name>
        <lei>N/A</lei>
        <title>HIROSE ELECTRIC CO LTD NPV</title>
        <cusip>J19782101</cusip>
        <identifiers>
          <isin value="JP3799000009"/>
          <ticker value="HRSEF"/>
        </identifiers>
        <balance>5751</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1032728.59</valUSD>
        <pctVal>0.0649206717</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>COLOPLAST A/S</name>
        <lei>529900NN7SOJ5QG82X67</lei>
        <title>COLOPLAST A/S SER'B'DKK1</title>
        <cusip>K16018192</cusip>
        <identifiers>
          <isin value="DK0060448595"/>
          <ticker value="CLPBF"/>
        </identifiers>
        <balance>109169</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>6217652.63</valUSD>
        <pctVal>0.3908618284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DFDS A/S</name>
        <lei>549300JZVW1Y1UZ5UK38</lei>
        <title>DFDS A/S DKK20</title>
        <cusip>K29758164</cusip>
        <identifiers>
          <isin value="DK0060655629"/>
          <ticker value="DFDDF"/>
        </identifiers>
        <balance>25700</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>441075.17</valUSD>
        <pctVal>0.0277274170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCANDINAVIAN TOBACCO GROUP A/S</name>
        <lei>5299003KG4JS99TRML67</lei>
        <title>SCANDINAVIAN TOBACCO GROUP A/S DKK1</title>
        <cusip>K8553U105</cusip>
        <identifiers>
          <isin value="DK0060696300"/>
          <ticker value="SNDVF"/>
        </identifiers>
        <balance>124000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>1261837.38</valUSD>
        <pctVal>0.0793231939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVO NORDISK A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
        <title>NOVO NORDISK A/S SER'B'DKK0.1</title>
        <cusip>K72807140</cusip>
        <identifiers>
          <isin value="DK0062498333"/>
          <ticker value="NONOF"/>
        </identifiers>
        <balance>113800</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="0.152867"/>
        <valUSD>5465467.63</valUSD>
        <pctVal>0.3435770375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KANSAI PAINT CO LTD</name>
        <lei>549300ERRV6FTKH9NN70</lei>
        <title>KANSAI PAINT CO LTD NPV</title>
        <cusip>J30255129</cusip>
        <identifiers>
          <isin value="JP3229400001"/>
          <ticker value="KSANF"/>
        </identifiers>
        <balance>191300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3129896.52</valUSD>
        <pctVal>0.1967554557</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>SUMITOMO MITSUI FINANCIAL GROUP INC</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FINANCIAL GROUP INC NPV</title>
        <cusip>J7771X109</cusip>
        <identifiers>
          <isin value="JP3890350006"/>
          <ticker value="SMFNF"/>
        </identifiers>
        <balance>83100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3257442</valUSD>
        <pctVal>0.2047733786</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>UNICAJA BANCO SA</name>
        <lei>5493007SJLLCTM6J6M37</lei>
        <title>UNICAJA BANCO SA EUR0.25</title>
        <cusip>E92589105</cusip>
        <identifiers>
          <isin value="ES0180907000"/>
          <ticker value="UNJCF"/>
        </identifiers>
        <balance>1278200</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>4555994.38</valUSD>
        <pctVal>0.2864045966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS SA</name>
        <lei>9598000ANNAL42UJ7X28</lei>
        <title>COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS SA EUR0.2</title>
        <cusip>E0304S106</cusip>
        <identifiers>
          <isin value="ES0105027009"/>
          <ticker value="CDNIF"/>
        </identifiers>
        <balance>77300</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2981984.58</valUSD>
        <pctVal>0.1874572310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOPRA STERIA GROUP SA</name>
        <lei>96950020QIOHAAK9V551</lei>
        <title>SOPRA STERIA GROUP SA EUR1.00</title>
        <cusip>F20906115</cusip>
        <identifiers>
          <isin value="FR0000050809"/>
          <ticker value="SOP"/>
        </identifiers>
        <balance>11000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1757859</valUSD>
        <pctVal>0.1105047232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DASSAULT SYSTEMES SE</name>
        <lei>96950065LBWY0APQIM86</lei>
        <title>DASSAULT SYSTEMES SE EUR0.10</title>
        <cusip>F24571451</cusip>
        <identifiers>
          <isin value="FR0014003TT8"/>
          <ticker value="DASTF"/>
        </identifiers>
        <balance>321145</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>6550456.18</valUSD>
        <pctVal>0.4117829399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IPSEN SA</name>
        <lei>549300M6SGDPB4Z94P11</lei>
        <title>IPSEN SA EUR1</title>
        <cusip>F5362H107</cusip>
        <identifiers>
          <isin value="FR0010259150"/>
          <ticker value="IPSEF"/>
        </identifiers>
        <balance>16600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3199125.97</valUSD>
        <pctVal>0.2011074436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RUBIS SCA</name>
        <lei>969500MGFIKUGLTC9742</lei>
        <title>RUBIS SCA EUR1.25</title>
        <cusip>F7686C152</cusip>
        <identifiers>
          <isin value="FR0013269123"/>
          <ticker value="RUBSF"/>
        </identifiers>
        <balance>74500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2614575.97</valUSD>
        <pctVal>0.1643607330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORDEA BANK ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>NORDEA BANK ABP NPV</title>
        <cusip>X5S8VL105</cusip>
        <identifiers>
          <isin value="FI4000297767"/>
          <ticker value="NBNKF"/>
        </identifiers>
        <balance>157500</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2988853.25</valUSD>
        <pctVal>0.1878890179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN SCA</name>
        <lei>549300SOSI58J6VIW052</lei>
        <title>COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN SCA EUR0.50 (POST SUBDIVISION)</title>
        <cusip>F61824870</cusip>
        <identifiers>
          <isin value="FR001400AJ45"/>
          <ticker value="MGDDF"/>
        </identifiers>
        <balance>67700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2615261.5</valUSD>
        <pctVal>0.1644038277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YUE YUEN INDUSTRIAL (HOLDINGS) LTD</name>
        <lei>254900YUFIBANZ1XU687</lei>
        <title>YUE YUEN INDUSTRIAL (HOLDINGS) LTD HKD0.25</title>
        <cusip>G98803144</cusip>
        <identifiers>
          <isin value="BMG988031446"/>
          <ticker value="YUEIF"/>
        </identifiers>
        <balance>1030400</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="0.127505"/>
        <valUSD>1612341.71</valUSD>
        <pctVal>0.1013570340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1609382.600000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUI CHEMICALS INC</name>
        <lei>353800H2UB5ZEZRZQC02</lei>
        <title>MITSUI CHEMICALS INC NPV</title>
        <cusip>J4466L136</cusip>
        <identifiers>
          <isin value="JP3888300005"/>
          <ticker value="MITUF"/>
        </identifiers>
        <balance>150200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1990835.25</valUSD>
        <pctVal>0.1251503666</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>NISSIN FOOD HOLDINGS COMPANY LTD</name>
        <lei>529900YMZMNSHC1W6V41</lei>
        <title>NISSIN FOOD HOLDINGS COMPANY LTD NPV</title>
        <cusip>J58063124</cusip>
        <identifiers>
          <isin value="JP3675600005"/>
          <ticker value="NFPDF"/>
        </identifiers>
        <balance>149800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2564694.51</valUSD>
        <pctVal>0.1612250225</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1860746.600000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>NITTO DENKO CORP</name>
        <lei>3538009GX5P09USH2J25</lei>
        <title>NITTO DENKO CORP NPV</title>
        <cusip>J58472119</cusip>
        <identifiers>
          <isin value="JP3684000007"/>
          <ticker value="NDEKF"/>
        </identifiers>
        <balance>224000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4406927.62</valUSD>
        <pctVal>0.2770337762</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>SAMSUNG ELECTRONICS CO LTD</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>SAMSUNG ELECTRONICS CO LTD KRW100</title>
        <cusip>Y74718100</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
          <ticker value="SSNLF"/>
        </identifiers>
        <balance>1729</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="0.000645"/>
        <valUSD>383660.47</valUSD>
        <pctVal>0.0241181426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHIMANO INC</name>
        <lei>529900L32YT3P9DECR10</lei>
        <title>SHIMANO INC NPV</title>
        <cusip>J72262108</cusip>
        <identifiers>
          <isin value="JP3358000002"/>
          <ticker value="SHMDF"/>
        </identifiers>
        <balance>46600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4970373.68</valUSD>
        <pctVal>0.3124538246</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>AIRTEL AFRICA PLC</name>
        <lei>254900ZNZDQL6OWQH623</lei>
        <title>AIRTEL AFRICA PLC ORD USD0.5</title>
        <cusip>G01415101</cusip>
        <identifiers>
          <isin value="GB00BKDRYJ47"/>
          <ticker value="AAFRF"/>
        </identifiers>
        <balance>506200</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>2199257.67</valUSD>
        <pctVal>0.1382524765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CRH PLC</name>
        <lei>549300MIDJNNTH068E74</lei>
        <title>CRH PLC ORD EUR 0.32</title>
        <cusip>G25508105</cusip>
        <identifiers>
          <isin value="IE0001827041"/>
          <ticker value="CRH"/>
        </identifiers>
        <balance>86019</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9204033</valUSD>
        <pctVal>0.5785953929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEVA PHARMACEUTICAL INDUSTRIES LTD</name>
        <lei>549300BAFGM4RC74ZJ94</lei>
        <title>TEVA PHARMACEUTICAL INDUSTRIES LTD ILS0.10</title>
        <cusip>M8769Q102</cusip>
        <identifiers>
          <isin value="IL0006290147"/>
          <ticker value="TEVJF"/>
        </identifiers>
        <balance>88617</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="0.336038"/>
        <valUSD>2988799.79</valUSD>
        <pctVal>0.1878856572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPAGNIE DE SAINT-GOBAIN SA</name>
        <lei>NFONVGN05Z0FMN5PEC35</lei>
        <title>COMPAGNIE DE SAINT-GOBAIN SA EUR4</title>
        <cusip>F80343100</cusip>
        <identifiers>
          <isin value="FR0000125007"/>
          <ticker value="CODGF"/>
        </identifiers>
        <balance>97336</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>8826629.86</valUSD>
        <pctVal>0.5548706064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RECKITT BENCKISER GROUP PLC</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>RECKITT BENCKISER GROUP PLC ORD GBP0.1041666666666667</title>
        <cusip>G7S0C8107</cusip>
        <identifiers>
          <isin value="GB00BSZBP530"/>
          <ticker value="RBGPF"/>
        </identifiers>
        <balance>68684</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>4472736.75</valUSD>
        <pctVal>0.2811707517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED LABORATORIES INTERNATIONAL HOLDINGS LTD (THE)</name>
        <lei>2549007JL3XIH77JXN70</lei>
        <title>UNITED LABORATORIES INTERNATIONAL HOLDINGS LTD (THE) HKD0.01</title>
        <cusip>G8813K108</cusip>
        <identifiers>
          <isin value="KYG8813K1085"/>
          <ticker value="ULIHF"/>
        </identifiers>
        <balance>1268000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="0.127505"/>
        <valUSD>1365871.35</valUSD>
        <pctVal>0.0858631070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YARA INTERNATIONAL ASA</name>
        <lei>213800WKOUWXWFJ5Z514</lei>
        <title>YARA INTERNATIONAL ASA NOK1.7</title>
        <cusip>R9900C106</cusip>
        <identifiers>
          <isin value="NO0010208051"/>
          <ticker value="YRAIF"/>
        </identifiers>
        <balance>58600</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="0.101025"/>
        <valUSD>2577101.27</valUSD>
        <pctVal>0.1620049517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANDRITZ AG</name>
        <lei>549300VZKC61IR5U8G96</lei>
        <title>ANDRITZ AG NPV (BR)</title>
        <cusip>A11123105</cusip>
        <identifiers>
          <isin value="AT0000730007"/>
          <ticker value="ADRZF"/>
        </identifiers>
        <balance>30400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2627659</valUSD>
        <pctVal>0.1651831748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TESCO PLC</name>
        <lei>2138002P5RNKC5W2JZ46</lei>
        <title>TESCO PLC ORD GBP0.0633333</title>
        <cusip>G8T67X102</cusip>
        <identifiers>
          <isin value="GB00BLGZ9862"/>
          <ticker value="TSCDF"/>
        </identifiers>
        <balance>800900</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>4881315.96</valUSD>
        <pctVal>0.3068553672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIKMA PHARMACEUTICALS PLC</name>
        <lei>549300BNS685UXH4JI75</lei>
        <title>HIKMA PHARMACEUTICALS PLC ORD GBP0.10</title>
        <cusip>G4576K104</cusip>
        <identifiers>
          <isin value="GB00B0LCW083"/>
          <ticker value="HKMPF"/>
        </identifiers>
        <balance>125700</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>2530881.5</valUSD>
        <pctVal>0.1590994270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW HOPE CORP LTD</name>
        <lei>254900DHRUGXZSLSNZ83</lei>
        <title>NEW HOPE CORP LTD NPV</title>
        <cusip>Q66635105</cusip>
        <identifiers>
          <isin value="AU000000NHC7"/>
          <ticker value="NHPEF"/>
        </identifiers>
        <balance>692100</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>2558790.01</valUSD>
        <pctVal>0.1608538465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2388221.140000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LONDON STOCK EXCHANGE GROUP PLC</name>
        <lei>213800QAUUUP6I445N30</lei>
        <title>LONDON STOCK EXCHANGE GROUP PLC ORD GBP0.06918604</title>
        <cusip>G5689U103</cusip>
        <identifiers>
          <isin value="GB00B0SWJX34"/>
          <ticker value="LDNXF"/>
        </identifiers>
        <balance>101611</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>10983067.08</valUSD>
        <pctVal>0.6904312504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QINETIQ GROUP PLC</name>
        <lei>213800S8OBDOZMCMUW34</lei>
        <title>QINETIQ GROUP PLC ORD GBP0.01</title>
        <cusip>G7303P106</cusip>
        <identifiers>
          <isin value="GB00B0WMWD03"/>
          <ticker value="QNTQF"/>
        </identifiers>
        <balance>227900</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>1276981.2</valUSD>
        <pctVal>0.0802751836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DRAX GROUP PLC</name>
        <lei>549300YPSNTXR4ZHSR98</lei>
        <title>DRAX GROUP PLC ORD GBP0.1155172</title>
        <cusip>G2904K127</cusip>
        <identifiers>
          <isin value="GB00B1VNSX38"/>
          <ticker value="DRXGF"/>
        </identifiers>
        <balance>421000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>4235744</valUSD>
        <pctVal>0.2662726181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GROUP PLC ORD USD0.2095238</title>
        <cusip>G93882192</cusip>
        <identifiers>
          <isin value="GB00BH4HKS39"/>
          <ticker value="VODPF"/>
        </identifiers>
        <balance>4809700</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>6364678.55</valUSD>
        <pctVal>0.4001043550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PETS AT HOME GROUP PLC</name>
        <lei>2138003Y9ULD24PD3J93</lei>
        <title>PETS AT HOME GROUP PLC ORD GBP0.01</title>
        <cusip>G7041J107</cusip>
        <identifiers>
          <isin value="GB00BJ62K685"/>
          <ticker value="PAHGF"/>
        </identifiers>
        <balance>626700</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>1474955.89</valUSD>
        <pctVal>0.0927205153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NATWEST GROUP PLC ORD GBP1.0769</title>
        <cusip>G6422B147</cusip>
        <identifiers>
          <isin value="GB00BM8PJY71"/>
          <ticker value="RBSPF"/>
        </identifiers>
        <balance>2865037</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>25273439.02</valUSD>
        <pctVal>1.5887704206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHELL PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>SHELL PLC ORD EUR0.07</title>
        <cusip>G80827101</cusip>
        <identifiers>
          <isin value="GB00BP6MXD84"/>
          <ticker value="RYDAF"/>
        </identifiers>
        <balance>286500</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>11130086.38</valUSD>
        <pctVal>0.6996733609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANGLO AMERICAN PLC</name>
        <lei>549300S9XF92D1X8ME43</lei>
        <title>ANGLO AMERICAN PLC ORD USD0.623855311355311</title>
        <cusip>G03764142</cusip>
        <identifiers>
          <isin value="GB00BTK05J60"/>
          <ticker value="AAUKF"/>
        </identifiers>
        <balance>83096</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>4074973.35</valUSD>
        <pctVal>0.2561660532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPUTACENTER PLC</name>
        <lei>549300XSXUZ1I19DB105</lei>
        <title>COMPUTACENTER PLC ORD GBP0.075555</title>
        <cusip>G23356150</cusip>
        <identifiers>
          <isin value="GB00BV9FP302"/>
          <ticker value="CUUCF"/>
        </identifiers>
        <balance>75200</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>4261290.07</valUSD>
        <pctVal>0.2678785270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORSK HYDRO ASA</name>
        <lei>549300N1SDN71ZZ8BO45</lei>
        <title>NORSK HYDRO ASA NOK1.098</title>
        <cusip>R61115102</cusip>
        <identifiers>
          <isin value="NO0005052605"/>
          <ticker value="NHYKF"/>
        </identifiers>
        <balance>302000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="0.101025"/>
        <valUSD>2732732.66</valUSD>
        <pctVal>0.1717884461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AKER BP ASA</name>
        <lei>549300NFTY73920OYK69</lei>
        <title>AKER BP ASA NOK1</title>
        <cusip>R0139K100</cusip>
        <identifiers>
          <isin value="NO0010345853"/>
          <ticker value="AKRBF"/>
        </identifiers>
        <balance>276434</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="0.101025"/>
        <valUSD>8433894.9</valUSD>
        <pctVal>0.5301820119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPIRAX GROUP PLC</name>
        <lei>213800WFVZQMHOZP2W17</lei>
        <title>SPIRAX GROUP PLC ORD GBP0.269230769</title>
        <cusip>G83561129</cusip>
        <identifiers>
          <isin value="GB00BWFGQN14"/>
          <ticker value="SPXSF"/>
        </identifiers>
        <balance>35418</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>3210908.95</valUSD>
        <pctVal>0.2018481600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VONTOBEL HOLDING AG</name>
        <lei>529900G69W5VR3DDPW23</lei>
        <title>VONTOBEL HOLDING AG CHF1 (REGD)</title>
        <cusip>H92070210</cusip>
        <identifiers>
          <isin value="CH0012335540"/>
          <ticker value="VONHF"/>
        </identifiers>
        <balance>31000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>2814530.95</valUSD>
        <pctVal>0.1769305522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF IRELAND GROUP PLC</name>
        <lei>635400C8EK6DRI12LJ39</lei>
        <title>BANK OF IRELAND GROUP PLC ORD EUR1.00</title>
        <cusip>G0756R109</cusip>
        <identifiers>
          <isin value="IE00BD1RP616"/>
          <ticker value="BKRIF"/>
        </identifiers>
        <balance>585161</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>11658103.56</valUSD>
        <pctVal>0.7328662349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIB GROUP PLC</name>
        <lei>635400AKJBGNS5WNQL34</lei>
        <title>AIB GROUP PLC ORD EUR0.625</title>
        <cusip>G0R4HJ106</cusip>
        <identifiers>
          <isin value="IE00BF0L3536"/>
          <ticker value="AIBRF"/>
        </identifiers>
        <balance>1073837</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>12620210.53</valUSD>
        <pctVal>0.7933474022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RYANAIR HOLDINGS PLC</name>
        <lei>635400BR2ROC1FVEBQ56</lei>
        <title>RYANAIR HOLDINGS PLC ORD EUR0.006</title>
        <cusip>G7727C186</cusip>
        <identifiers>
          <isin value="IE00BYTBXV33"/>
          <ticker value="RYAOF"/>
        </identifiers>
        <balance>99600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3113358.5</valUSD>
        <pctVal>0.1957158220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLUS500 LTD</name>
        <lei>549300X8NGW9C5OJZU13</lei>
        <title>PLUS500 LTD ORD ILS0.01 (DI)</title>
        <cusip>M7S2CK109</cusip>
        <identifiers>
          <isin value="IL0011284465"/>
          <ticker value="PLSQF"/>
        </identifiers>
        <balance>39900</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>2531955.61</valUSD>
        <pctVal>0.1591669490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JULIUS BAER GROUP AG</name>
        <lei>5299007MF0604ZGJER92</lei>
        <title>JULIUS BAER GROUP AG CHF0.02 (REGD)</title>
        <cusip>H4414N103</cusip>
        <identifiers>
          <isin value="CH0102484968"/>
          <ticker value="JBARF"/>
        </identifiers>
        <balance>108265</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="1.237624"/>
        <valUSD>9354090.81</valUSD>
        <pctVal>0.5880285140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOMPO HOLDINGS INC</name>
        <lei>353800CWW4SRGEYEB512</lei>
        <title>SOMPO HOLDINGS INC NPV</title>
        <cusip>J7621A101</cusip>
        <identifiers>
          <isin value="JP3165000005"/>
          <ticker value="NHOLF"/>
        </identifiers>
        <balance>170700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>6484942.1</valUSD>
        <pctVal>0.4076645121</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>EXEDY CORP</name>
        <lei>35380047PHY08BBD5M18</lei>
        <title>EXEDY CORP NPV</title>
        <cusip>J1326T101</cusip>
        <identifiers>
          <isin value="JP3161160001"/>
          <ticker value="EXDYF"/>
        </identifiers>
        <balance>57000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2042969.8</valUSD>
        <pctVal>0.1284277136</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>MEGMILK SNOW BRAND COMPANY LTD</name>
        <lei>N/A</lei>
        <title>MEGMILK SNOW BRAND COMPANY LTD NPV</title>
        <cusip>J41966102</cusip>
        <identifiers>
          <isin value="JP3947800003"/>
          <ticker value="MMSBF"/>
        </identifiers>
        <balance>133000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2969942.49</valUSD>
        <pctVal>0.1867002261</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>BILFINGER SE</name>
        <lei>529900H0HULEN2BZ4604</lei>
        <title>BILFINGER SE NPV</title>
        <cusip>D11648108</cusip>
        <identifiers>
          <isin value="DE0005909006"/>
          <ticker value="BFLBF"/>
        </identifiers>
        <balance>12400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1139849</valUSD>
        <pctVal>0.0716546084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA</name>
        <lei>959800TZHQRUSH1ESL13</lei>
        <title>INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA ORD EUR0.10 (CDI)</title>
        <cusip>E67674106</cusip>
        <identifiers>
          <isin value="ES0177542018"/>
          <ticker value="BABWF"/>
        </identifiers>
        <balance>584800</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.142596"/>
        <valUSD>3187633.69</valUSD>
        <pctVal>0.2003850016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REXEL SA</name>
        <lei>969500N6AVPA51648T62</lei>
        <title>REXEL SA EUR5</title>
        <cusip>F7782J366</cusip>
        <identifiers>
          <isin value="FR0010451203"/>
          <ticker value="RXLSF"/>
        </identifiers>
        <balance>65700</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2878341.76</valUSD>
        <pctVal>0.1809419068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HALEON PLC</name>
        <lei>549300PSB3WWEODCUP19</lei>
        <title>HALEON PLC ORD GBP0.01</title>
        <cusip>G4232K100</cusip>
        <identifiers>
          <isin value="GB00BMX86B70"/>
          <ticker value="HLNCF"/>
        </identifiers>
        <balance>3048433</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>14043624.58</valUSD>
        <pctVal>0.8828278302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITIE GROUP PLC</name>
        <lei>213800MTCLTKEHWZMJ03</lei>
        <title>MITIE GROUP PLC ORD GBP0.025</title>
        <cusip>G6164F157</cusip>
        <identifiers>
          <isin value="GB0004657408"/>
          <ticker value="MITFF"/>
        </identifiers>
        <balance>1062500</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>2104169.75</valUSD>
        <pctVal>0.1322749411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAX GLOBAL TECHNOLOGY LTD</name>
        <lei>5299008CRGPD1WZXCD36</lei>
        <title>PAX GLOBAL TECHNOLOGY LTD HKD0.10</title>
        <cusip>G6955J103</cusip>
        <identifiers>
          <isin value="BMG6955J1036"/>
          <ticker value="PXGYF"/>
        </identifiers>
        <balance>2174000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="0.127505"/>
        <valUSD>932421.59</valUSD>
        <pctVal>0.0586150480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIPPON SHINYAKU CO LTD</name>
        <lei>N/A</lei>
        <title>NIPPON SHINYAKU CO LTD NPV</title>
        <cusip>J55784102</cusip>
        <identifiers>
          <isin value="JP3717600005"/>
          <ticker value="NPNKF"/>
        </identifiers>
        <balance>80400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1990885</valUSD>
        <pctVal>0.1251534940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIPPON SODA CO LTD</name>
        <lei>N/A</lei>
        <title>NIPPON SODA CO LTD NPV</title>
        <cusip>J55870109</cusip>
        <identifiers>
          <isin value="JP3726200003"/>
          <ticker value="NSDFF"/>
        </identifiers>
        <balance>95400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2087285.85</valUSD>
        <pctVal>0.1312135644</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>CRODA INTERNATIONAL PLC</name>
        <lei>2138004WCNBFJEEOXV26</lei>
        <title>CRODA INTERNATIONAL PLC ORD GBP0.10609756</title>
        <cusip>G25536155</cusip>
        <identifiers>
          <isin value="GB00BJFFLV09"/>
          <ticker value="COIHF"/>
        </identifiers>
        <balance>41021</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>1644640.2</valUSD>
        <pctVal>0.1033874219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON MATTHEY PLC</name>
        <lei>2138001AVBSD1HSC6Z10</lei>
        <title>JOHNSON MATTHEY PLC ORD GBP1.109245</title>
        <cusip>G51604166</cusip>
        <identifiers>
          <isin value="GB00BZ4BQC70"/>
          <ticker value="JMPLF"/>
        </identifiers>
        <balance>76000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>1907519.5</valUSD>
        <pctVal>0.1199128680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIRELLI &amp; C. SPA</name>
        <lei>815600A0C9AFC1F2A709</lei>
        <title>PIRELLI &amp; C. SPA NPV</title>
        <cusip>T76434264</cusip>
        <identifiers>
          <isin value="IT0005278236"/>
          <ticker value="PLLIF"/>
        </identifiers>
        <balance>603400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>4569796.6</valUSD>
        <pctVal>0.2872722490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EZAKI GLICO CO LTD</name>
        <lei>3538001RG4BHKDFV6G61</lei>
        <title>EZAKI GLICO CO LTD NPV</title>
        <cusip>J13314109</cusip>
        <identifiers>
          <isin value="JP3161200005"/>
          <ticker value="EZKGF"/>
        </identifiers>
        <balance>68500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2250565.85</valUSD>
        <pctVal>0.1414778752</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1198156.670000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO FORESTRY COMPANY LTD</name>
        <lei>549300FIIRGO6D5FWR19</lei>
        <title>SUMITOMO FORESTRY COMPANY LTD NPV</title>
        <cusip>J77454122</cusip>
        <identifiers>
          <isin value="JP3409800004"/>
          <ticker value="SMFRF"/>
        </identifiers>
        <balance>230700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1925988.25</valUSD>
        <pctVal>0.1210738736</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1923975.670000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOKUYAMA CORP</name>
        <lei>529900MHGZKHNMNCQB62</lei>
        <title>TOKUYAMA CORP NPV</title>
        <cusip>J86506110</cusip>
        <identifiers>
          <isin value="JP3625000009"/>
          <ticker value="TKYMF"/>
        </identifiers>
        <balance>150100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4560788.5</valUSD>
        <pctVal>0.2867059706</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>MEBUKI FINANCIAL GROUP INC</name>
        <lei>353800K1RXV3E3JAE812</lei>
        <title>MEBUKI FINANCIAL GROUP INC NPV</title>
        <cusip>J4248A101</cusip>
        <identifiers>
          <isin value="JP3117700009"/>
          <ticker value="MEBUF"/>
        </identifiers>
        <balance>363200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3188584.81</valUSD>
        <pctVal>0.2004447921</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>ALPS ALPINE CO LTD</name>
        <lei>529900PWNU4ASLY9VI90</lei>
        <title>ALPS ALPINE CO LTD NPV</title>
        <cusip>J01176114</cusip>
        <identifiers>
          <isin value="JP3126400005"/>
          <ticker value="APELF"/>
        </identifiers>
        <balance>194400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2467042.79</valUSD>
        <pctVal>0.1550863184</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>KOHNAN SHOJI COMPANY LTD</name>
        <lei>353800Z44MNXZ33L2N11</lei>
        <title>KOHNAN SHOJI COMPANY LTD NPV</title>
        <cusip>J3479K101</cusip>
        <identifiers>
          <isin value="JP3283750002"/>
          <ticker value="KHJCF"/>
        </identifiers>
        <balance>73400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1902858.67</valUSD>
        <pctVal>0.1196198731</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>SANKYU INC</name>
        <lei>529900QWTXZZEM1T5G75</lei>
        <title>SANKYU INC NPV</title>
        <cusip>J68037100</cusip>
        <identifiers>
          <isin value="JP3326000001"/>
          <ticker value="SNKUF"/>
        </identifiers>
        <balance>32200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1716109.91</valUSD>
        <pctVal>0.1078802399</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="53.270000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKEUCHI MANUFACTURING CO LTD</name>
        <lei>N/A</lei>
        <title>TAKEUCHI MANUFACTURING CO LTD NPV</title>
        <cusip>J8135G105</cusip>
        <identifiers>
          <isin value="JP3462660006"/>
          <ticker value="TKUGF"/>
        </identifiers>
        <balance>72400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3180776.17</valUSD>
        <pctVal>0.1999539156</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>LION CORP</name>
        <lei>529900MPGS2GM7VPG855</lei>
        <title>LION CORP NPV</title>
        <cusip>J38933107</cusip>
        <identifiers>
          <isin value="JP3965400009"/>
          <ticker value="LIOPF"/>
        </identifiers>
        <balance>56000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>590861.13</valUSD>
        <pctVal>0.0371434487</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>M3 INC</name>
        <lei>3538001UOKRWIODYM055</lei>
        <title>M3 INC NPV</title>
        <cusip>J4697J108</cusip>
        <identifiers>
          <isin value="JP3435750009"/>
          <ticker value="2413"/>
        </identifiers>
        <balance>360300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4015902.88</valUSD>
        <pctVal>0.2524526917</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>DAIWABO HOLDINGS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>DAIWABO HOLDINGS COMPANY LTD NPV</title>
        <cusip>J1R29Q108</cusip>
        <identifiers>
          <isin value="JP3505400006"/>
          <ticker value="3107"/>
        </identifiers>
        <balance>111800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2382244.31</valUSD>
        <pctVal>0.1497556107</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>ROHTO PHARMACEUTICAL CO LTD</name>
        <lei>353800Q1CW5OS81OUM12</lei>
        <title>ROHTO PHARMACEUTICAL CO LTD NPV</title>
        <cusip>J65371106</cusip>
        <identifiers>
          <isin value="JP3982400008"/>
          <ticker value="RPHCF"/>
        </identifiers>
        <balance>319700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4691203.33</valUSD>
        <pctVal>0.2949042701</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>AERCAP HOLDINGS NV</name>
        <lei>549300SZYINBBLJQU475</lei>
        <title>AERCAP HOLDINGS NV EUR0.01</title>
        <cusip>N00985106</cusip>
        <identifiers>
          <isin value="NL0000687663"/>
          <ticker value="AER"/>
        </identifiers>
        <balance>29000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4227620.06</valUSD>
        <pctVal>0.2657619209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOLKSWAGEN AG</name>
        <lei>529900NNUPAGGOMPXZ31</lei>
        <title>VOLKSWAGEN AG NON VTG PRF NPV</title>
        <cusip>D94523103</cusip>
        <identifiers>
          <isin value="DE0007664039"/>
          <ticker value="VLKPF"/>
        </identifiers>
        <balance>28400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2278277.72</valUSD>
        <pctVal>0.1432199333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO BILBAO VIZCAYA ARGENTARIA SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>BANCO BILBAO VIZCAYA ARGENTARIA SA EUR0.49</title>
        <cusip>E11805103</cusip>
        <identifiers>
          <isin value="ES0113211835"/>
          <ticker value="BBVXF"/>
        </identifiers>
        <balance>281800</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>7094799.75</valUSD>
        <pctVal>0.4460021438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO BANK NV DR EACH REP SHS</title>
        <cusip>N0162C102</cusip>
        <identifiers>
          <isin value="NL0011540547"/>
          <ticker value="ABMRF"/>
        </identifiers>
        <balance>168200</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>7153830.25</valUSD>
        <pctVal>0.4497129926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELEKTA AB</name>
        <lei>54930044O54BK617EP80</lei>
        <title>ELEKTA AB SER'B'NPV</title>
        <cusip>W2479G107</cusip>
        <identifiers>
          <isin value="SE0000163628"/>
          <ticker value="EKTAF"/>
          <other otherDesc="In-House" value="B0M42T2"/>
        </identifiers>
        <balance>142700</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>727654.83</valUSD>
        <pctVal>0.0457427448</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="424202.090000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BPER BANCA SPA</name>
        <lei>N747OI7JINV7RUUH6190</lei>
        <title>BPER BANCA SPA NPV</title>
        <cusip>T1325T119</cusip>
        <identifiers>
          <isin value="IT0000066123"/>
          <ticker value="BPERF"/>
        </identifiers>
        <balance>190445</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2992091.14</valUSD>
        <pctVal>0.1880925621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ GROUP AG</name>
        <lei>529900R27DL06UVNT076</lei>
        <title>MERCEDES-BENZ GROUP AG ORD NPV(REGD)</title>
        <cusip>D1668R123</cusip>
        <identifiers>
          <isin value="DE0007100000"/>
          <ticker value="MBGAF"/>
        </identifiers>
        <balance>72400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3641613.04</valUSD>
        <pctVal>0.2289236173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROTHER INDUSTRIES LTD</name>
        <lei>549300O5FACQ67KI6R92</lei>
        <title>BROTHER INDUSTRIES LTD NPV</title>
        <cusip>114813108</cusip>
        <identifiers>
          <isin value="JP3830000000"/>
          <ticker value="BRTHF"/>
        </identifiers>
        <balance>162500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3696668.52</valUSD>
        <pctVal>0.2323845835</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>CANON INC</name>
        <lei>529900JH1GSC035SSP77</lei>
        <title>CANON INC NPV</title>
        <cusip>J05124144</cusip>
        <identifiers>
          <isin value="JP3242800005"/>
          <ticker value="CAJFF"/>
        </identifiers>
        <balance>113500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2906778.63</valUSD>
        <pctVal>0.1827295408</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="2906600.510000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHIBA BANK LTD (THE)</name>
        <lei>FGJPAKKCTZVSKZXNBS63</lei>
        <title>CHIBA BANK LTD (THE) NPV</title>
        <cusip>J05670104</cusip>
        <identifiers>
          <isin value="JP3511800009"/>
          <ticker value="8331"/>
        </identifiers>
        <balance>466100</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>7140192.36</valUSD>
        <pctVal>0.4488556706</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>RIO TINTO LTD</name>
        <lei>529900X2VMAQT2PE0V24</lei>
        <title>RIO TINTO LTD NPV</title>
        <cusip>Q81437107</cusip>
        <identifiers>
          <isin value="AU000000RIO1"/>
          <ticker value="RTNTF"/>
        </identifiers>
        <balance>86000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>10347477.07</valUSD>
        <pctVal>0.6504759991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KDDI CORP</name>
        <lei>5299003FU7V4I45FU310</lei>
        <title>KDDI CORP NPV</title>
        <cusip>J31843105</cusip>
        <identifiers>
          <isin value="JP3496400007"/>
          <ticker value="KDDIF"/>
        </identifiers>
        <balance>264200</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4437955.17</valUSD>
        <pctVal>0.2789842687</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>TSUBAKIMOTO CHAIN COMPANY</name>
        <lei>N/A</lei>
        <title>TSUBAKIMOTO CHAIN COMPANY NPV</title>
        <cusip>J93020105</cusip>
        <identifiers>
          <isin value="JP3535400000"/>
          <ticker value="TSKMF"/>
        </identifiers>
        <balance>205600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3263479.63</valUSD>
        <pctVal>0.2051529236</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>NAGASE &amp; CO. LTD</name>
        <lei>353800VMIQIB0LSK1Q36</lei>
        <title>NAGASE &amp; CO. LTD NPV</title>
        <cusip>J47270103</cusip>
        <identifiers>
          <isin value="JP3647800006"/>
          <ticker value="NGSCF"/>
        </identifiers>
        <balance>406800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2942899.97</valUSD>
        <pctVal>0.1850002455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIPPON KAYAKU CO LTD</name>
        <lei>N/A</lei>
        <title>NIPPON KAYAKU CO LTD NPV</title>
        <cusip>J54236112</cusip>
        <identifiers>
          <isin value="JP3694400007"/>
          <ticker value="NPKYF"/>
        </identifiers>
        <balance>152300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1876657.25</valUSD>
        <pctVal>0.1179727668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN AIRLINES CO LTD</name>
        <lei>3538002MH5L1QZZ93477</lei>
        <title>JAPAN AIRLINES CO LTD NPV</title>
        <cusip>J25979121</cusip>
        <identifiers>
          <isin value="JP3705200008"/>
          <ticker value="JPNRF"/>
        </identifiers>
        <balance>164000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2865799.31</valUSD>
        <pctVal>0.1801534477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIWA HOUSE INDUSTRY CO LTD</name>
        <lei>353800K9WXR9XRZJZI46</lei>
        <title>DAIWA HOUSE INDUSTRY CO LTD NPV</title>
        <cusip>J11508124</cusip>
        <identifiers>
          <isin value="JP3505000004"/>
          <ticker value="DWAHF"/>
        </identifiers>
        <balance>84500</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2289673.07</valUSD>
        <pctVal>0.1439362820</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>HONDA MOTOR CO LTD</name>
        <lei>549300P7ZYCQJ36CCS16</lei>
        <title>HONDA MOTOR CO LTD NPV</title>
        <cusip>J22302111</cusip>
        <identifiers>
          <isin value="JP3854600008"/>
          <ticker value="HNDAF"/>
        </identifiers>
        <balance>495900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4466950.78</valUSD>
        <pctVal>0.2808070269</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>ISUZU MOTORS LTD</name>
        <lei>529900C0QSXVCC7AR494</lei>
        <title>ISUZU MOTORS LTD NPV</title>
        <cusip>J24994113</cusip>
        <identifiers>
          <isin value="JP3137200006"/>
          <ticker value="ISUZF"/>
        </identifiers>
        <balance>227300</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3026772.25</valUSD>
        <pctVal>0.1902727293</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>KEYENCE CORP</name>
        <lei>529900M7PQBS7A89DZ11</lei>
        <title>KEYENCE CORP NPV</title>
        <cusip>J32491102</cusip>
        <identifiers>
          <isin value="JP3236200006"/>
          <ticker value="KYCCF"/>
        </identifiers>
        <balance>15800</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>7986700.88</valUSD>
        <pctVal>0.5020699441</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>KIRIN HOLDINGS COMPANY LTD</name>
        <lei>353800GBVL72LLMTYM96</lei>
        <title>KIRIN HOLDINGS COMPANY LTD NPV</title>
        <cusip>497350108</cusip>
        <identifiers>
          <isin value="JP3258000003"/>
          <ticker value="KNBWF"/>
        </identifiers>
        <balance>208600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>3597555.25</valUSD>
        <pctVal>0.2261540016</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="3219470.400000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOBE STEEL LTD</name>
        <lei>549300ZDCYYUPHEE5K87</lei>
        <title>KOBE STEEL LTD NPV</title>
        <cusip>J34555250</cusip>
        <identifiers>
          <isin value="JP3289800009"/>
          <ticker value="KBSTF"/>
        </identifiers>
        <balance>183000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2122689.49</valUSD>
        <pctVal>0.1334391521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN POST HOLDINGS CO LTD</name>
        <lei>5299003D9N4JBS256X18</lei>
        <title>JAPAN POST HOLDINGS CO LTD NPV</title>
        <cusip>J2800D109</cusip>
        <identifiers>
          <isin value="JP3752900005"/>
          <ticker value="JPHLF"/>
        </identifiers>
        <balance>356600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4793119.13</valUSD>
        <pctVal>0.3013110282</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>HANWA CO LTD</name>
        <lei>8EUP1TJYZFX3T1E5AJ33</lei>
        <title>HANWA CO LTD NPV</title>
        <cusip>J18774166</cusip>
        <identifiers>
          <isin value="JP3777800008"/>
          <ticker value="HNWAF"/>
        </identifiers>
        <balance>254600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>2672473.56</valUSD>
        <pctVal>0.1680003635</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>KOMATSU LTD</name>
        <lei>5493004LQ0B4T7QPQV17</lei>
        <title>KOMATSU LTD NPV</title>
        <cusip>J35759125</cusip>
        <identifiers>
          <isin value="JP3304200003"/>
          <ticker value="KMTUF"/>
        </identifiers>
        <balance>49600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1936755.23</valUSD>
        <pctVal>0.1217507209</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>MITSUBISHI ELECTRIC CORP</name>
        <lei>549300TRXM9Y6561AX39</lei>
        <title>MITSUBISHI ELECTRIC CORP NPV</title>
        <cusip>J43873116</cusip>
        <identifiers>
          <isin value="JP3902400005"/>
          <ticker value="MIELF"/>
        </identifiers>
        <balance>313600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>11501126.67</valUSD>
        <pctVal>0.7229981580</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>YOKOHAMA RUBBER CO LTD (THE)</name>
        <lei>52990036XNWY2FMYWB76</lei>
        <title>YOKOHAMA RUBBER CO LTD (THE) NPV</title>
        <cusip>J97536171</cusip>
        <identifiers>
          <isin value="JP3955800002"/>
          <ticker value="YORUF"/>
        </identifiers>
        <balance>106600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>4808322.5</valUSD>
        <pctVal>0.3022667614</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="3750204.310000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARCS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>ARCS COMPANY LTD NPV</title>
        <cusip>J0195H107</cusip>
        <identifiers>
          <isin value="JP3968600001"/>
          <ticker value="9948"/>
        </identifiers>
        <balance>52700</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00615"/>
        <valUSD>1102077.96</valUSD>
        <pctVal>0.0692801982</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>CK HUTCHISON HOLDINGS LTD</name>
        <lei>254900Z8HM1VEPOQ2G79</lei>
        <title>CK HUTCHISON HOLDINGS LTD HKD1</title>
        <cusip>G21765105</cusip>
        <identifiers>
          <isin value="KYG217651051"/>
          <ticker value="CKHUF"/>
        </identifiers>
        <balance>357000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="0.127505"/>
        <valUSD>3025802.36</valUSD>
        <pctVal>0.1902117589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINGBOARD HOLDINGS LTD</name>
        <lei>529900G89MY26MMSDR76</lei>
        <title>KINGBOARD HOLDINGS LTD HKD0.10</title>
        <cusip>G52562140</cusip>
        <identifiers>
          <isin value="KYG525621408"/>
          <ticker value="KBDCF"/>
        </identifiers>
        <balance>1035500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="0.127505"/>
        <valUSD>15688650.51</valUSD>
        <pctVal>0.9862395003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WH GROUP LTD</name>
        <lei>254900A4AYEDRWYSE928</lei>
        <title>WH GROUP LTD USD0.0001</title>
        <cusip>G96007102</cusip>
        <identifiers>
          <isin value="KYG960071028"/>
          <ticker value="WHGRF"/>
        </identifiers>
        <balance>5235500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="0.127505"/>
        <valUSD>5551282.13</valUSD>
        <pctVal>0.3489716155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARCELORMITTAL SA</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ARCELORMITTAL SA NPV</title>
        <cusip>L0302D210</cusip>
        <identifiers>
          <isin value="LU1598757687"/>
          <ticker value="AMSYF"/>
        </identifiers>
        <balance>170096</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>10255570.86</valUSD>
        <pctVal>0.6446984764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURONEXT NV</name>
        <lei>724500QJ4QSZ3H9QU415</lei>
        <title>EURONEXT NV EUR1.60</title>
        <cusip>N3113K397</cusip>
        <identifiers>
          <isin value="NL0006294274"/>
          <ticker value="EUXTF"/>
        </identifiers>
        <balance>75699</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>12108103.47</valUSD>
        <pctVal>0.7611546900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROSUS NV</name>
        <lei>635400Z5LQ5F9OLVT688</lei>
        <title>PROSUS NV EUR0.05 (N SHARES)</title>
        <cusip>N7163R103</cusip>
        <identifiers>
          <isin value="NL0013654783"/>
          <ticker value="PROSF"/>
        </identifiers>
        <balance>51600</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2242198.26</valUSD>
        <pctVal>0.1409518614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED OVERSEAS BANK LTD</name>
        <lei>IO66REGK3RCBAMA8HR66</lei>
        <title>UNITED OVERSEAS BANK LTD NPV</title>
        <cusip>Y9T10P105</cusip>
        <identifiers>
          <isin value="SG1M31001969"/>
          <ticker value="UOVEF"/>
        </identifiers>
        <balance>91000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="0.772947"/>
        <valUSD>2802329.88</valUSD>
        <pctVal>0.1761635533</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>RYANAIR HOLDINGS PLC</name>
        <lei>635400BR2ROC1FVEBQ56</lei>
        <title>RYANAIR HOLDINGS PLC ADS EACH REPR 5 ORD EUR0.01</title>
        <cusip>783513203</cusip>
        <identifiers>
          <isin value="US7835132033"/>
          <ticker value="RYAAY"/>
        </identifiers>
        <balance>134714</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8722731.53</valUSD>
        <pctVal>0.5483392201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SIGNIFY NV</name>
        <lei>549300072P3J1X8NZO35</lei>
        <title>SIGNIFY NV EUR0.01</title>
        <cusip>N8063K107</cusip>
        <identifiers>
          <isin value="NL0011821392"/>
          <ticker value="SFFYF"/>
        </identifiers>
        <balance>92300</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1762626.63</valUSD>
        <pctVal>0.1108044319</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="286775.620000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ASML HOLDING NV</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
        <title>ASML HOLDING NV EUR0.09</title>
        <cusip>N07059202</cusip>
        <identifiers>
          <isin value="NL0010273215"/>
          <ticker value="ASMLF"/>
        </identifiers>
        <balance>4503</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>8916700.91</valUSD>
        <pctVal>0.5605327650</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>NN GROUP NV</name>
        <lei>724500OHYNDT9OY6Q215</lei>
        <title>NN GROUP NV EUR0.12</title>
        <cusip>N64038107</cusip>
        <identifiers>
          <isin value="NL0010773842"/>
          <ticker value="NNGPF"/>
        </identifiers>
        <balance>77200</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>6768014.8</valUSD>
        <pctVal>0.4254593810</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>KONINKLIJKE AHOLD DELHAIZE NV</name>
        <lei>724500C9GNBV20UYRX36</lei>
        <title>KONINKLIJKE AHOLD DELHAIZE NV EUR0.01</title>
        <cusip>N0074E105</cusip>
        <identifiers>
          <isin value="NL0011794037"/>
          <ticker value="AHODF"/>
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        <balance>149200</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>6004140.81</valUSD>
        <pctVal>0.3774397822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ING GROEP NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV EUR0.01</title>
        <cusip>N4578E595</cusip>
        <identifiers>
          <isin value="NL0011821202"/>
          <ticker value="INGVF"/>
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        <balance>196800</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>6209671</valUSD>
        <pctVal>0.3903600772</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>EUROCOMMERCIAL PROPERTIES NV</name>
        <lei>724500SFK53FPNM68L95</lei>
        <title>EUROCOMMERCIAL PROPERTIES NV EUR10.00</title>
        <cusip>N31068195</cusip>
        <identifiers>
          <isin value="NL0015000K93"/>
          <ticker value="ECMPF"/>
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        <balance>82400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>2569422.16</valUSD>
        <pctVal>0.1615222180</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>AGNICO EAGLE MINES LTD</name>
        <lei>254900BFJ2DOHPMEXN45</lei>
        <title>AGNICO EAGLE MINES LTD COM NPV</title>
        <cusip>008474108</cusip>
        <identifiers>
          <isin value="CA0084741085"/>
          <ticker value="AEM"/>
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        <balance>71982.89</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="0.705094"/>
        <valUSD>11184311.47</valUSD>
        <pctVal>0.7030821260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IG GROUP HOLDINGS PLC</name>
        <lei>2138003A5Q1M7ANOUD76</lei>
        <title>IG GROUP HOLDINGS PLC ORD GBP0.00005</title>
        <cusip>G4753Q106</cusip>
        <identifiers>
          <isin value="GB00B06QFB75"/>
          <ticker value="IGGRF"/>
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        <balance>122377</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="1.326453"/>
        <valUSD>2949488.79</valUSD>
        <pctVal>0.1854144401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHERN STAR RESOURCES LTD</name>
        <lei>254900XFXCRYYZAX6M78</lei>
        <title>NORTHERN STAR RESOURCES LTD NPV</title>
        <cusip>Q6951U101</cusip>
        <identifiers>
          <isin value="AU000000NST8"/>
          <ticker value="NESRF"/>
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        <balance>470109</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>6224073.47</valUSD>
        <pctVal>0.3912654632</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>PERENTI LTD</name>
        <lei>25490044GUNE4S2E6K11</lei>
        <title>PERENTI LTD NPV</title>
        <cusip>Q73992101</cusip>
        <identifiers>
          <isin value="AU0000061897"/>
          <ticker value="AUSDF"/>
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        <balance>1120000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>1757775.63</valUSD>
        <pctVal>0.1104994823</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>KONINKLIJKE HEIJMANS NV</name>
        <lei>724500OUE3PCA809DZ79</lei>
        <title>KONINKLIJKE HEIJMANS NV CVA EUR0.30</title>
        <cusip>N3928R264</cusip>
        <identifiers>
          <isin value="NL0009269109"/>
          <ticker value="HJMNF"/>
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        <balance>38400</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>5011012.5</valUSD>
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        <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>DNB BANK ASA</name>
        <lei>549300GKFG0RYRRQ1414</lei>
        <title>DNB BANK ASA NOK12.50</title>
        <cusip>R1R15X100</cusip>
        <identifiers>
          <isin value="NO0010161896"/>
          <ticker value="DNBBF"/>
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        <balance>90200</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="0.101025"/>
        <valUSD>2685457.25</valUSD>
        <pctVal>0.1688165604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PERSEUS MINING LTD</name>
        <lei>54930054ZDGKBCW3SM26</lei>
        <title>PERSEUS MINING LTD NPV</title>
        <cusip>Q74174105</cusip>
        <identifiers>
          <isin value="AU000000PRU3"/>
          <ticker value="PMNXF"/>
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        <balance>1197900</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="0.692348"/>
        <valUSD>4047490.61</valUSD>
        <pctVal>0.2544383989</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>ASSA ABLOY AB</name>
        <lei>549300YECS8HKCIMMB67</lei>
        <title>ASSA ABLOY AB SER'B'NPV</title>
        <cusip>W0817X204</cusip>
        <identifiers>
          <isin value="SE0007100581"/>
          <ticker value="ASAZF"/>
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        <balance>302877</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>10700905.76</valUSD>
        <pctVal>0.6726936739</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>BOLIDEN AB</name>
        <lei>21380059QU7IM1ONDJ56</lei>
        <title>BOLIDEN AB NPV</title>
        <cusip>W17218210</cusip>
        <identifiers>
          <isin value="SE0020050417"/>
          <ticker value="BLIDF"/>
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        <balance>81088</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>4581757.98</valUSD>
        <pctVal>0.2880241801</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>ESSITY AB</name>
        <lei>549300G8E6YUVJ1DA153</lei>
        <title>ESSITY AB SER'B'NPV</title>
        <cusip>W3R06F100</cusip>
        <identifiers>
          <isin value="SE0009922164"/>
          <ticker value="ETTYF"/>
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        <balance>101600</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>2876679.69</valUSD>
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        <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="286390.380000000000"/>
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      <invstOrSec>
        <name>OVS SPA</name>
        <lei>8156001A772766DCAA71</lei>
        <title>OVS SPA NPV</title>
        <cusip>T7S3C5103</cusip>
        <identifiers>
          <isin value="IT0005043507"/>
          <ticker value="OVS"/>
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        <balance>472528</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>3267091.53</valUSD>
        <pctVal>0.2053799794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BETSSON AB</name>
        <lei>549300W61XW8OFGBG077</lei>
        <title>BETSSON AB NPV B</title>
        <cusip>W1556V193</cusip>
        <identifiers>
          <isin value="SE0022726485"/>
          <ticker value="BTSBF"/>
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        <balance>204400</balance>
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        <currencyConditional curCd="SEK" exchangeRt="0.103132"/>
        <valUSD>1787544.63</valUSD>
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        <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>
      <invstOrSec>
        <name>KALMAR OYJ</name>
        <lei>636700Z25ZQXLMZ3CY73</lei>
        <title>KALMAR OYJ SER'B'NPV</title>
        <cusip>X4S8SE108</cusip>
        <identifiers>
          <isin value="FI4000571054"/>
          <ticker value="KMROF"/>
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        <balance>41900</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.142596"/>
        <valUSD>1841010.93</valUSD>
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        <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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-19</ncom:dateSigned>
      <ncom:nameOfApplicant>EMPOWER FUNDS, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/Kelly New</ncom:signature>
      <ncom:signerName>Kelly New</ncom:signerName>
      <ncom:title>Treasurer, Empower Funds, Inc.</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
