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        <lei>213800HROV6Y9MUU8375</lei>
        <title>JD SPORTS FASHION PLC ORD GBP0.0005</title>
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          <isin value="GB00BM8Q5M07"/>
          <ticker value="JD/"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NSK LTD</name>
        <lei>353800FVQK6SULSPBC69</lei>
        <title>NSK LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3720800006"/>
          <ticker value="6471"/>
          <other otherDesc="SEDOL" value="6641544"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JB HI-FI LTD</name>
        <lei>529900TPC8H040Y3ZQ65</lei>
        <title>JB HI-FI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000JBH7"/>
          <ticker value="JBH"/>
          <other otherDesc="SEDOL" value="6702623"/>
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        <balance>522291.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
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        <pctVal>0.420898054648</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>KONICA MINOLTA INC</name>
        <lei>549300SVK6KRUOL1A740</lei>
        <title>KONICA MINOLTA INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3300600008"/>
          <ticker value="4902"/>
          <other otherDesc="SEDOL" value="6496700"/>
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        <pctVal>0.354167998432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREND MICRO INC</name>
        <lei>3538005O5UJ5RNAGVE16</lei>
        <title>TREND MICRO INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3637300009"/>
          <ticker value="4704"/>
          <other otherDesc="SEDOL" value="6125286"/>
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        <balance>158000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>6366114.35000000</valUSD>
        <pctVal>0.089179733602</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>MIVNE REAL ESTATE (K.D.) LTD</name>
        <lei>N/A</lei>
        <title>MIVNE REAL ESTATE (K.D.) LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0002260193"/>
          <ticker value="MVNE"/>
          <other otherDesc="SEDOL" value="6416980"/>
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        <currencyConditional curCd="ILS" exchangeRt="3.05650000"/>
        <valUSD>12497259.86000000</valUSD>
        <pctVal>0.175067905443</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>COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS SA</name>
        <lei>9598000ANNAL42UJ7X28</lei>
        <title>COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS SA EUR0.2</title>
        <cusip>000000000</cusip>
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          <isin value="ES0105027009"/>
          <ticker value="LOG"/>
          <other otherDesc="SEDOL" value="BP3QYZ2"/>
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        <balance>305035.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
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        <pctVal>0.182296800512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KENEDIX OFFICE INVESTMENT CORP</name>
        <lei>353800FFT483NCIHFY42</lei>
        <title>KENEDIX OFFICE INVESTMENT CORP REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046270009"/>
          <ticker value="8972"/>
          <other otherDesc="SEDOL" value="B0C5Q59"/>
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        <balance>64443.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>62983634.31000000</valUSD>
        <pctVal>0.882306446326</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>DOWA HOLDINGS COMPANY LTD</name>
        <lei>353800ZSQZKFE140A689</lei>
        <title>DOWA HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3638600001"/>
          <ticker value="5714"/>
          <other otherDesc="SEDOL" value="6278306"/>
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        <balance>46900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>2392893.01000000</valUSD>
        <pctVal>0.033520849522</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>ZALANDO SE</name>
        <lei>529900YRFFGH5AXU4S86</lei>
        <title>ZALANDO SE NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000ZAL1111"/>
          <ticker value="ZAL"/>
          <other otherDesc="SEDOL" value="BQV0SV7"/>
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        <balance>504264.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
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        <pctVal>0.230393418524</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>
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      <invstOrSec>
        <name>SALZGITTER AG - STAHL UND TECHNOLOGIE</name>
        <lei>529900E12Z6HXIMHFA15</lei>
        <title>SALZGITTER AG - STAHL UND TECHNOLOGIE ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0006202005"/>
          <ticker value="SZG"/>
          <other otherDesc="SEDOL" value="5465358"/>
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        <balance>18480.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>1107152.59000000</valUSD>
        <pctVal>0.015509550662</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>
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      </invstOrSec>
      <invstOrSec>
        <name>TPG TELECOM LTD</name>
        <lei>9845008F2E58CD6F7984</lei>
        <title>TPG TELECOM LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000090128"/>
          <ticker value="TPG"/>
          <other otherDesc="SEDOL" value="BMB2257"/>
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        <balance>7048713.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
        <valUSD>17696326.22000000</valUSD>
        <pctVal>0.247899043477</pctVal>
        <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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      <invstOrSec>
        <name>METLEN ENERGY &amp; METALS PLC</name>
        <lei>213800ZSR3HVKMMPVG86</lei>
        <title>METLEN ENERGY &amp; METALS PLC ORD EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BTQGS779"/>
          <ticker value="MTLN"/>
          <other otherDesc="SEDOL" value="BTQGS77"/>
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        <balance>130386.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>6953107.84000000</valUSD>
        <pctVal>0.097402633818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUBER + SUHNER AG</name>
        <lei>5067007PRZ9OSX7A6787</lei>
        <title>HUBER + SUHNER AG CHF0.25 (REGD)</title>
        <cusip>000000000</cusip>
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          <isin value="CH0030380734"/>
          <ticker value="HUBN"/>
          <other otherDesc="SEDOL" value="7132832"/>
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        <balance>5524.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.80845000"/>
        <valUSD>1302096.49000000</valUSD>
        <pctVal>0.018240422920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INVINCIBLE INVESTMENT CORP</name>
        <lei>353800JY6M2692VAV685</lei>
        <title>INVINCIBLE INVESTMENT CORP REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046190009"/>
          <ticker value="8963"/>
          <other otherDesc="SEDOL" value="B00STP1"/>
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        <balance>42718.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <pctVal>0.229328239954</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>CKD CORP</name>
        <lei>N/A</lei>
        <title>CKD CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3346800000"/>
          <ticker value="6407"/>
          <other otherDesc="SEDOL" value="6160050"/>
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        <balance>26000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TBC BANK GROUP PLC</name>
        <lei>213800T6NS9N2WQ3B328</lei>
        <title>TBC BANK GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BYT18307"/>
          <ticker value="TBCG"/>
          <other otherDesc="SEDOL" value="BYT1830"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARISAWA MANUFACTURING COMPANY LTD</name>
        <lei>N/A</lei>
        <title>ARISAWA MANUFACTURING COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3126000003"/>
          <ticker value="5208"/>
          <other otherDesc="SEDOL" value="6049609"/>
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        <balance>20000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>NHK SPRING CO LTD</name>
        <lei>35380033IJ3XRDV8VH57</lei>
        <title>NHK SPRING CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3742600004"/>
          <ticker value="5991"/>
          <other otherDesc="SEDOL" value="6619648"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NIPPON ELECTRIC GLASS CO LTD</name>
        <lei>529900NCIGSAX4V03234</lei>
        <title>NIPPON ELECTRIC GLASS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3733400000"/>
          <ticker value="5214"/>
          <other otherDesc="SEDOL" value="6642666"/>
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        <balance>1498300.00000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FOX-WIZEL LTD</name>
        <lei>984500CD14C1DFBH7712</lei>
        <title>FOX-WIZEL LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010870223"/>
          <ticker value="FOX"/>
          <other otherDesc="SEDOL" value="6541741"/>
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        <balance>16593.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="3.05650000"/>
        <valUSD>1641113.66000000</valUSD>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZEN WATCH CO LTD</name>
        <lei>529900DUZBKERKGQ2628</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NOK CORP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CLAS OHLSON AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BIOMERIEUX SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FASTIGHETS AB BALDER</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NIB HOLDINGS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INFICON HOLDING AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ORICA LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MITSUBISHI KAKOKI KAISHA LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ISETAN MITSUKOSHI HOLDINGS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VOESTALPINE AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ZENKOKU HOSHO COMPANY LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DICKER DATA LTD</name>
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        <name>KYUSHU RAILWAY COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HAMAMATSU PHOTONICS KK</name>
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        <name>JAPAN ELEVATOR SERVICE HOLDINGS CO LTD</name>
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        <name>FRIEDRICH VORWERK GROUP SE</name>
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        <name>BUYSELL TECHNOLOGIES CO LTD</name>
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        <name>CREDIT SAISON COMPANY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JET2 PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SECURITAS AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SBI HOLDINGS INC</name>
        <lei>353800L6LMHYIPSMRQ17</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3436120004"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DE' LONGHI SPA</name>
        <lei>8156000E09A52C4F8A38</lei>
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          <isin value="IT0003115950"/>
          <ticker value="DLG"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MENORA MIVTACHIM HOLDINGS LTD</name>
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          <isin value="IL0005660183"/>
          <ticker value="MMHD"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SERVICE STREAM LTD</name>
        <lei>254900BGR8Y25CRN1892</lei>
        <title>SERVICE STREAM LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000SSM2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUNDRUG CO LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3336600006"/>
          <ticker value="9989"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALSOK CO LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3431900004"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMPLIFON SPA</name>
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          <isin value="IT0004056880"/>
          <ticker value="AMP"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KALMAR OYJ</name>
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          <isin value="FI4000571054"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ICG PLC</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TAKASHIMAYA CO LTD</name>
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          <isin value="JP3456000003"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENTAIN PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MELISRON LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EZAKI GLICO CO LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ORIENT CORP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>MABUCHI MOTOR CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FRONTLINE PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SANRIO CO LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GILAT SATELLITE NETWORKS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LANXESS AG</name>
        <lei>529900PTLRE72EMYIJ77</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HAZAMA ANDO CORP</name>
        <lei>353800YSSP5B2GMQ6E51</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SBM OFFSHORE NV</name>
        <lei>549300RDGCRYZ5QE6513</lei>
        <title>SBM OFFSHORE NV EUR0.25</title>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>NIPRO CORP</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3673600007"/>
          <ticker value="8086"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UACJ CORP</name>
        <lei>353800GO7FBE4RSRH831</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3826900007"/>
          <ticker value="5741"/>
          <other otherDesc="SEDOL" value="B0N9WZ2"/>
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        <balance>476700.00000000</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>
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      </invstOrSec>
      <invstOrSec>
        <name>YOKOWO COMPANY LTD</name>
        <lei>N/A</lei>
        <title>YOKOWO COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3954200006"/>
          <ticker value="6800"/>
          <other otherDesc="SEDOL" value="6986728"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KURARAY CO LTD</name>
        <lei>549300W9JPTOE739QZ31</lei>
        <title>KURARAY CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3269600007"/>
          <ticker value="3405"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BEZEQ THE ISRAEL TELECOMMUNICATION CORP LTD</name>
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        <title>BEZEQ THE ISRAEL TELECOMMUNICATION CORP LTD ILS1</title>
        <cusip>000000000</cusip>
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          <isin value="IL0002300114"/>
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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>
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      <invstOrSec>
        <name>MIGDAL INSURANCE &amp; FINANCIAL HOLDINGS LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="IL0010811656"/>
          <ticker value="MGDL"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COWELL E HOLDINGS INC</name>
        <lei>N/A</lei>
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          <isin value="KYG248141163"/>
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        <currencyConditional curCd="HKD" exchangeRt="7.84240000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WAYPOINT REIT LTD</name>
        <lei>5493003CS5K82RREKA54</lei>
        <title>WAYPOINT REIT LTD NPV (STAPLED)</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000088064"/>
          <ticker value="WPR"/>
          <other otherDesc="SEDOL" value="BLBQ285"/>
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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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      <invstOrSec>
        <name>SANKYU INC</name>
        <lei>529900QWTXZZEM1T5G75</lei>
        <title>SANKYU INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3326000001"/>
          <ticker value="9065"/>
          <other otherDesc="SEDOL" value="6775380"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AZIMUT HOLDING SPA</name>
        <lei>81560025690EF8540635</lei>
        <title>AZIMUT HOLDING SPA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="IT0003261697"/>
          <ticker value="AZM"/>
          <other otherDesc="SEDOL" value="B019M65"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TECHNOLOGY ONE LTD</name>
        <lei>875500YEWBJIM91P9N12</lei>
        <title>TECHNOLOGY ONE LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000TNE8"/>
          <ticker value="TNE"/>
          <other otherDesc="SEDOL" value="6302410"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NIPPON SHOKUBAI CO LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3715200006"/>
          <ticker value="4114"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DAISHI HOKUETSU FINANCIAL GROUP INC</name>
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          <isin value="JP3483850008"/>
          <ticker value="7327"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHIKOKU ELECTRIC POWER COMPANY INC</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3350800003"/>
          <ticker value="9507"/>
          <other otherDesc="SEDOL" value="6804347"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FUKUYAMA TRANSPORTING CO LTD</name>
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          <isin value="JP3806800003"/>
          <ticker value="9075"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KANEKA CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HULIC COMPANY LTD</name>
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        <title>HULIC COMPANY LTD NPV</title>
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          <isin value="JP3360800001"/>
          <ticker value="3003"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SHAPIR ENGINEERING AND INDUSTRY LTD</name>
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          <isin value="IL0011338758"/>
          <ticker value="SPEN"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SSAB AB</name>
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          <ticker value="SSABA"/>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>KUSURI NO AOKI HOLDINGS CO LTD</name>
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        <title>KUSURI NO AOKI HOLDINGS CO LTD NPV</title>
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          <isin value="JP3266190002"/>
          <ticker value="3549"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FURUYA METAL COMPANY LTD</name>
        <lei>N/A</lei>
        <title>FURUYA METAL COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3828850002"/>
          <ticker value="7826"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>G CITY LTD</name>
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          <isin value="IL0001260111"/>
          <ticker value="GCT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NISHI-NIPPON FINANCIAL HOLDINGS INC</name>
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          <isin value="JP3658850007"/>
          <ticker value="7189"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AUMOVIO SE</name>
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          <isin value="DE000AUM0V10"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRW HOLDINGS LTD</name>
        <lei>5493003S2MORCH0HEL95</lei>
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        <cusip>000000000</cusip>
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          <isin value="AU000000NWH5"/>
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          <other otherDesc="SEDOL" value="B23XW70"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHARMING GROUP NV</name>
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          <isin value="NL0010391025"/>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TECAN GROUP AG</name>
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          <isin value="CH0012100191"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KAWASAKI KISEN KAISHA LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3223800008"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KYUSHU FINANCIAL GROUP INC</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3246500007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BURBERRY GROUP PLC</name>
        <lei>213800PE1KEFCNFR1R50</lei>
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          <isin value="GB0031743007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHARMA MAR SA</name>
        <lei>959800QWKZ45ZQC2AV58</lei>
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        <cusip>000000000</cusip>
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          <isin value="ES0169501022"/>
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          <other otherDesc="SEDOL" value="BMW2GT8"/>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TEL AVIV STOCK EXCHANGE LTD (THE)</name>
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          <isin value="IL0011590291"/>
          <ticker value="TASE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KIKKOMAN CORP</name>
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          <isin value="JP3240400006"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FUSO CHEMICAL COMPANY LTD</name>
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          <isin value="JP3822600007"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SUMITOMO OSAKA CEMENT COMPANY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LANCASHIRE HOLDINGS LTD</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BURCKHARDT COMPRESSION HOLDING AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PIRELLI &amp; C. SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MEITEC GROUP HOLDINGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>YANGZIJIANG FINANCIAL HOLDING LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MIRVAC GROUP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TGS ASA</name>
        <lei>549300NUPLAXPB0WYH90</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Osaka Exchange,Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>APERAM SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QUALITAU LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ENERGIXS-RENEWABLE ENERGIES LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AURIZON HOLDINGS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MITSUBISHI HC CAPITAL INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SUNTEC REAL ESTATE INVESTMENT TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LUK FOOK HOLDINGS (INTERNATIONAL) LTD</name>
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        <name>POLAR CAPITAL HOLDINGS PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>STOREBRAND ASA</name>
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        <name>NAYAX LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOOMIS AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UBE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THK CO LTD</name>
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          <isin value="JP3539250005"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KONINKLIJKE HEIJMANS NV</name>
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          <isin value="NL0009269109"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HARVEY NORMAN HOLDINGS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ELIS SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RAKUTEN GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEINOR HOMES SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ULVAC INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SUMITOMO CHEMICAL COMPANY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>YAMAICHI ELECTRONICS CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NOJIMA CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NISHIMATSU CONSTRUCTION COMPANY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TSUGAMI CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OCADO GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NACHI-FUJIKOSHI CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ALTEN SA</name>
        <lei>969500Y7G9TY7Y24GN07</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FATTAL HOLDINGS (1998) LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WATCHES OF SWITZERLAND GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GECINA SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KERRY PROPERTIES LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOKYO SEIMITSU CO LTD</name>
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          <isin value="JP3580200008"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RINGKJOBING LANDBOBANK A/S</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INCHCAPE PLC</name>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NIKKON HOLDINGS CO LTD</name>
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        <title>NIKKON HOLDINGS CO LTD NPV</title>
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          <isin value="JP3709600005"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J SAINSBURY PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEIKO ELECTRONICS COMPANY LTD</name>
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          <isin value="JP3915350007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VENTURE CORP LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TV ASAHI HOLDINGS CORP</name>
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          <isin value="JP3429000007"/>
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        <fairValLevel>2</fairValLevel>
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        <name>KYUSHU ELECTRIC POWER COMPANY INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>R&amp;S GROUP HOLDING AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FUJI CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERTEK GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HISCOX LTD</name>
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        <name>NICHICON CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NIKON CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CREDIT CORP GROUP LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KYOTO FINANCIAL GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HITACHI CONSTRUCTION MACHINERY CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CODAN LTD</name>
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        <title>CODAN LTD NPV</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MITSUBISHI MATERIALS CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ELMOS SEMICONDUCTOR SE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KOITO MANUFACTURING CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIRPORT CITY LTD</name>
        <lei>N/A</lei>
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          <isin value="IL0010958358"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JGC HOLDINGS CORP</name>
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          <isin value="JP3667600005"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONO PHARMACEUTICAL CO LTD</name>
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          <isin value="JP3197600004"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VALLOUREC SA</name>
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          <isin value="FR0013506730"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NIPPON TELEVISION HOLDINGS INC</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3732200005"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEAZLEY PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>USHIO INC</name>
        <lei>N/A</lei>
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          <isin value="JP3156400008"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK OF NAGOYA LTD (THE)</name>
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          <isin value="JP3648800005"/>
          <ticker value="8522"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NORITSU KOKI CO LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3759500006"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KINDEN CORP</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3263000006"/>
          <ticker value="1944"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NAMURA SHIPBUILDING CO LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3651400008"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HAKUHODO DY HOLDINGS INC</name>
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          <isin value="JP3766550002"/>
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        <fairValLevel>2</fairValLevel>
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        <name>AOZORA BANK LTD</name>
        <lei>X0XUGKC9FD2CYUQNC010</lei>
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          <isin value="JP3711200000"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CHIBA BANK LTD (THE)</name>
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        <title>CHIBA BANK LTD (THE) NPV</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GEA GROUP AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BETSSON AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RICOH COMPANY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>YAMANASHI CHUO BANK LTD (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SANSAN INC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ORORA LTD</name>
        <lei>549300WFEQJK35VDF789</lei>
        <title>ORORA LTD NPV</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ELEKTA AB</name>
        <lei>54930044O54BK617EP80</lei>
        <title>ELEKTA AB SER'B'NPV</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEIJI HOLDINGS COMPANY LTD</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NORDNET AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DIC CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HEXATRONIC GROUP AB</name>
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          <isin value="SE0018040677"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HYAKUGO BANK LTD (THE)</name>
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          <isin value="JP3793800008"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KOBE BUSSAN COMPANY LTD</name>
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          <isin value="JP3291200008"/>
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        <fairValLevel>2</fairValLevel>
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        <name>NISSUI CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SINGAPORE EXCHANGE LIMITED</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OSG CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HELLOFRESH SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VIRIDIEN SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OMRON CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GAMES WORKSHOP GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TOHO BANK LTD (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TAIHEIYO CEMENT CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TOYODA GOSEI COMPANY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ISRAEL CORP LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DETERRA ROYALTIES LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CRANSWICK PLC</name>
        <lei>549300LDZLPU51XOSK43</lei>
        <title>CRANSWICK PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002318888"/>
          <ticker value="CWK"/>
          <other otherDesc="SEDOL" value="0231888"/>
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        <balance>10870.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LASALLE LOGIPORT REIT</name>
        <lei>353800II3DI1RPKBB314</lei>
        <title>LASALLE LOGIPORT REIT REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3048180008"/>
          <ticker value="3466"/>
          <other otherDesc="SEDOL" value="BDD1L29"/>
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        <balance>7256.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>6941002.34000000</valUSD>
        <pctVal>0.097233053882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DRAX GROUP PLC</name>
        <lei>549300YPSNTXR4ZHSR98</lei>
        <title>DRAX GROUP PLC ORD GBP0.1155172</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1VNSX38"/>
          <ticker value="DRX"/>
          <other otherDesc="SEDOL" value="B1VNSX3"/>
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        <balance>604511.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEUREN PHARMACEUTICALS LTD</name>
        <lei>984500E48D0FDEE7CE63</lei>
        <title>NEUREN PHARMACEUTICALS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="NZNEUE0001S8"/>
          <ticker value="NEU"/>
          <other otherDesc="SEDOL" value="B04LVF0"/>
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        <balance>33432.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MONADELPHOUS GROUP LTD</name>
        <lei>5299007YT51BCWZTYW93</lei>
        <title>MONADELPHOUS GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MND5"/>
          <ticker value="MND"/>
          <other otherDesc="SEDOL" value="6600471"/>
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        <balance>567300.00000000</balance>
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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>
      <invstOrSec>
        <name>THYSSENKRUPP AG</name>
        <lei>549300UDG16DOYUPR330</lei>
        <title>THYSSENKRUPP AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007500001"/>
          <ticker value="TKA"/>
          <other otherDesc="SEDOL" value="5636927"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
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        <pctVal>0.054377110093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CRODA INTERNATIONAL PLC</name>
        <lei>2138004WCNBFJEEOXV26</lei>
        <title>CRODA INTERNATIONAL PLC ORD GBP0.10609756</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BJFFLV09"/>
          <ticker value="CRDA"/>
          <other otherDesc="SEDOL" value="BJFFLV0"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUB24 LTD</name>
        <lei>529900O2RAS904TFIR32</lei>
        <title>HUB24 LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000HUB4"/>
          <ticker value="HUB"/>
          <other otherDesc="SEDOL" value="BD4T5X1"/>
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        <balance>185808.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
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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>EURAZEO SE</name>
        <lei>969500C656AA39O94N60</lei>
        <title>EURAZEO SE NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000121121"/>
          <ticker value="RF"/>
          <other otherDesc="SEDOL" value="7042395"/>
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        <balance>28989.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TAIKISHA LTD</name>
        <lei>3538005OOQOUE7DBWV52</lei>
        <title>TAIKISHA LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3441200007"/>
          <ticker value="1979"/>
          <other otherDesc="SEDOL" value="6869959"/>
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        <balance>237000.00000000</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>
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      <invstOrSec>
        <name>HIROGIN HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>HIROGIN HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3796150005"/>
          <ticker value="7337"/>
          <other otherDesc="SEDOL" value="BJK6DZ6"/>
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        <balance>489800.00000000</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>
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      <invstOrSec>
        <name>TORAY INDUSTRIES INC</name>
        <lei>35380099TCYR5FHT0A11</lei>
        <title>TORAY INDUSTRIES INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3621000003"/>
          <ticker value="3402"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VALEO SE</name>
        <lei>5493006IH2N2WMIBB742</lei>
        <title>VALEO SE EUR1</title>
        <cusip>000000000</cusip>
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          <other otherDesc="SEDOL" value="BDC5ST8"/>
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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>TOPPAN HOLDINGS INC</name>
        <lei>3538003H9W4KIDODQY20</lei>
        <title>TOPPAN HOLDINGS INC NPV</title>
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          <isin value="JP3629000005"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHIMAMURA CO LTD</name>
        <lei>N/A</lei>
        <title>SHIMAMURA CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3358200008"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NORWEGIAN AIR SHUTTLE ASA</name>
        <lei>549300IEUH2FEM2Y6B51</lei>
        <title>NORWEGIAN AIR SHUTTLE ASA NOK0.10</title>
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        <assetCat>EC</assetCat>
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        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NS UNITED KAIUN KAISHA LTD</name>
        <lei>353800MK2Y7X2PZGXN23</lei>
        <title>NS UNITED KAIUN KAISHA LTD NPV</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PARAGON BANKING GROUP PLC</name>
        <lei>213800S1TDKIB1IUTS72</lei>
        <title>PARAGON BANKING GROUP PLC ORD GBP1</title>
        <cusip>000000000</cusip>
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          <ticker value="PAG"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>COMET HOLDING AG</name>
        <lei>506700PGOL747J76WC96</lei>
        <title>COMET HOLDING AG CHF1 (REGD)</title>
        <cusip>000000000</cusip>
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          <ticker value="COTN"/>
          <other otherDesc="SEDOL" value="BD376K0"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>B&amp;M EUROPEAN VALUE RETAIL PLC</name>
        <lei>213800UK7ZRLY2K1X530</lei>
        <title>B&amp;M EUROPEAN VALUE RETAIL PLC ORD GBP0.1</title>
        <cusip>000000000</cusip>
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          <isin value="JE00BVSYJW51"/>
          <ticker value="BME"/>
          <other otherDesc="SEDOL" value="BVSYJW5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AUTOTRADER GP PLC</name>
        <lei>213800QLK9BZILB1DI86</lei>
        <title>AUTOTRADER GP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BVYVFW23"/>
          <ticker value="AUTO"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NISSAN CHEMICAL CORP</name>
        <lei>3538002E4L1CUGJFFU25</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3670800006"/>
          <ticker value="4021"/>
          <other otherDesc="SEDOL" value="6641588"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>EFG INTERNATIONAL AG</name>
        <lei>506700PR1R98BSF81139</lei>
        <title>EFG INTERNATIONAL AG CHF0.50 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0022268228"/>
          <ticker value="EFGN"/>
          <other otherDesc="SEDOL" value="B0LF188"/>
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        <balance>633345.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.80845000"/>
        <valUSD>12601090.72000000</valUSD>
        <pctVal>0.176522420384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REGIS RESOURCES LTD</name>
        <lei>213800XH9YUXBLYBD749</lei>
        <title>REGIS RESOURCES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000RRL8"/>
          <ticker value="RRL"/>
          <other otherDesc="SEDOL" value="6476542"/>
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        <balance>7215806.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
        <valUSD>30921211.90000000</valUSD>
        <pctVal>0.433159897590</pctVal>
        <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>
      <invstOrSec>
        <name>RENISHAW PLC</name>
        <lei>21380048ADXM6Z67CT18</lei>
        <title>RENISHAW PLC ORD GBP0.20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0007323586"/>
          <ticker value="RSW"/>
          <other otherDesc="SEDOL" value="0732358"/>
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        <balance>5996.00000000</balance>
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        <valUSD>399853.47000000</valUSD>
        <pctVal>0.005601348636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SWCC CORP</name>
        <lei>353800A7RNYOC4KL4T49</lei>
        <title>SWCC CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3368400002"/>
          <ticker value="5805"/>
          <other otherDesc="SEDOL" value="6805481"/>
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        <balance>172200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <pctVal>0.166282745932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AVOLTA AG</name>
        <lei>549300X53WDBVW7TIF57</lei>
        <title>AVOLTA AG CHF5 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0023405456"/>
          <ticker value="AVOL"/>
          <other otherDesc="SEDOL" value="B0R80X9"/>
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        <balance>785622.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.80845000"/>
        <valUSD>47164274.77000000</valUSD>
        <pctVal>0.660700896697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COVIVIO SA</name>
        <lei>969500P8M3W2XX376054</lei>
        <title>COVIVIO SA EUR3</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000064578"/>
          <ticker value="COV"/>
          <other otherDesc="SEDOL" value="7745638"/>
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        <balance>102323.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>6246526.29000000</valUSD>
        <pctVal>0.087504483874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONOGATARI CORP (THE)</name>
        <lei>N/A</lei>
        <title>MONOGATARI CORP (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3922930007"/>
          <ticker value="3097"/>
          <other otherDesc="SEDOL" value="B2PWSL1"/>
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        <balance>12900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>COATS GROUP PLC</name>
        <lei>2138003SPYWGAITNFY17</lei>
        <title>COATS GROUP PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B4YZN328"/>
          <ticker value="COA"/>
          <other otherDesc="SEDOL" value="B4YZN32"/>
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        <balance>939057.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
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        <pctVal>0.014255723640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHAFTESBURY CAPITAL PLC</name>
        <lei>549300TTXXZ1SHUI0D54</lei>
        <title>SHAFTESBURY CAPITAL PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B62G9D36"/>
          <ticker value="SHC"/>
          <other otherDesc="SEDOL" value="B62G9D3"/>
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        <balance>407923.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KEPPEL DC REIT</name>
        <lei>N/A</lei>
        <title>KEPPEL DC REIT NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1AF6000009"/>
          <ticker value="KDCREIT"/>
          <other otherDesc="SEDOL" value="BT9Q186"/>
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        <balance>7049500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUBSEA 7 SA</name>
        <lei>222100AIF0CBCY80AH62</lei>
        <title>SUBSEA 7 SA COM USD2</title>
        <cusip>000000000</cusip>
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          <isin value="LU0075646355"/>
          <ticker value="SUBC"/>
          <other otherDesc="SEDOL" value="5258246"/>
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        <balance>793307.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.47750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SILTRONIC AG</name>
        <lei>5299003NKV26NNGHHR90</lei>
        <title>SILTRONIC AG NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000WAF3001"/>
          <ticker value="WAF"/>
          <other otherDesc="SEDOL" value="BYY5978"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
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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>
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      <invstOrSec>
        <name>CAPRICORN METALS LTD</name>
        <lei>529900CRG304NUYMOV23</lei>
        <title>CAPRICORN METALS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CMM9"/>
          <ticker value="CMM"/>
          <other otherDesc="SEDOL" value="BDD98W2"/>
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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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      <invstOrSec>
        <name>KS HOLDINGS CORP</name>
        <lei>3538003LJ09YLR6NHG27</lei>
        <title>KS HOLDINGS CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3277150003"/>
          <ticker value="8282"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IDEMITSU KOSAN CO LTD</name>
        <lei>549300P0R46FF6DUA630</lei>
        <title>IDEMITSU KOSAN CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3142500002"/>
          <ticker value="5019"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KYORITSU MAINTENANCE CO LTD</name>
        <lei>353800IO2MFHL1NA0986</lei>
        <title>KYORITSU MAINTENANCE CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3253900009"/>
          <ticker value="9616"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARKS AND SPENCER GROUP PLC</name>
        <lei>213800EJP14A79ZG1X44</lei>
        <title>MARKS AND SPENCER GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <isin value="GB0031274896"/>
          <ticker value="MKS"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LION FINANCE GROUP PLC</name>
        <lei>213800XKDG12NQG8VC53</lei>
        <title>LION FINANCE GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <ticker value="BGEO"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TRI CHEMICAL LABORATORIES INC</name>
        <lei>353800S3OPTEAPIHHJ16</lei>
        <title>TRI CHEMICAL LABORATORIES INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3636000006"/>
          <ticker value="4369"/>
          <other otherDesc="SEDOL" value="B1Z8XW8"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>IMPRO PRECISION INDUSTRIES LTD</name>
        <lei>2549009NAG20HWV31U35</lei>
        <title>IMPRO PRECISION INDUSTRIES LTD HKD0.1</title>
        <cusip>000000000</cusip>
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          <ticker value="1286"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>AEM HOLDINGS LTD</name>
        <lei>N/A</lei>
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          <isin value="SG1BA1000003"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RAITO KOGYO CO LTD</name>
        <lei>N/A</lei>
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          <isin value="JP3965800000"/>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PARTNER COMMUNICATIONS COMPANY LTD</name>
        <lei>529900P1P6RZ1NC37U33</lei>
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          <isin value="IL0010834849"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE LUFTHANSA AG</name>
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        <cusip>000000000</cusip>
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          <isin value="DE0008232125"/>
          <ticker value="LHA"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WACKER CHEMIE AG</name>
        <lei>0NURKC5Q3CJYZPPK5046</lei>
        <title>WACKER CHEMIE AG NPV(BR)</title>
        <cusip>000000000</cusip>
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          <isin value="DE000WCH8881"/>
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          <other otherDesc="SEDOL" value="B11Y568"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>77 BANK LTD (THE)</name>
        <lei>549300U6CT3EHB9XS980</lei>
        <title>77 BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3352000008"/>
          <ticker value="8341"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SENIOR PLC</name>
        <lei>5493002HQHWN5JQHKQ51</lei>
        <title>SENIOR PLC GBP0.10</title>
        <cusip>000000000</cusip>
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          <isin value="GB0007958233"/>
          <ticker value="SNR"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAWAI GROUP HOLDINGS CO LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3323040000"/>
          <ticker value="4887"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEIKO EPSON CORP</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3414750004"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BROTHER INDUSTRIES LTD</name>
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        <title>BROTHER INDUSTRIES LTD NPV</title>
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          <isin value="JP3830000000"/>
          <ticker value="6448"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHEMOMETEC A/S</name>
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        <title>CHEMOMETEC A/S DKK1</title>
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          <isin value="DK0060055861"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASAHI DIAMOND INDUSTRIAL CO LTD</name>
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          <isin value="JP3114400009"/>
          <ticker value="6140"/>
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        <fairValLevel>2</fairValLevel>
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        <name>BIG SHOPPING CENTERS LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="IL0010972607"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>NICE LTD</name>
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        <title>NICE LTD SPONSORED ADR</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>DYNO NOBEL LTD</name>
        <lei>254900UW2F3BKV6Z9V18</lei>
        <title>DYNO NOBEL LTD NPV</title>
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          <ticker value="DNL"/>
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        <fairValLevel>2</fairValLevel>
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        <name>HEXPOL AB</name>
        <lei>549300MN30TBRLYN3465</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GAZTRANSPORT ET TECHNIGAZ SA</name>
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          <ticker value="GTT"/>
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        <fairValLevel>2</fairValLevel>
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        <name>RESOLUTE MINING LTD</name>
        <lei>254900MP8JONT590XY28</lei>
        <title>RESOLUTE MINING LTD NPV</title>
        <cusip>000000000</cusip>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ALPS ALPINE CO LTD</name>
        <lei>529900PWNU4ASLY9VI90</lei>
        <title>ALPS ALPINE CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <ticker value="6770"/>
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        <fairValLevel>2</fairValLevel>
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        <name>PIGEON CORP</name>
        <lei>2549006T3HT0TI9IRV62</lei>
        <title>PIGEON CORP NPV</title>
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          <ticker value="7956"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SOFTCAT PLC</name>
        <lei>213800N42YZLR9GLVC42</lei>
        <title>SOFTCAT PLC ORD GBP0.0005</title>
        <cusip>000000000</cusip>
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          <ticker value="SCT"/>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>TRIAL HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>TRIAL HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
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          <ticker value="141A"/>
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        <fairValLevel>2</fairValLevel>
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        <name>O.Y. NOFAR ENERGY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RESORTTRUST INC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ARKEMA SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RS GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TOYOBO CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NIPPON LIGHT METAL HOLDINGS CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VISCOFAN INDUSTRIA NAVARRA DE ENVOLTURA CELULOSICAS SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STRAUSS GROUP LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHUGIN FINANCIAL GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KELLER GROUP PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>KBC ANCORA SA</name>
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        <name>GN STORE NORD A/S</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MITSUBISHI GAS CHEMICAL CO INC</name>
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        <name>NORION BANK AB</name>
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        <name>GREGGS PLC</name>
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        <name>DAI NIPPON PRINTING CO LTD</name>
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        <name>TEAMVIEWER SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IG GROUP HOLDINGS PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EDION CORP</name>
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        <payoffProfile>Long</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIRSTGROUP PLC</name>
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          <isin value="GB0003452173"/>
          <ticker value="FGP"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CAMTEK LTD</name>
        <lei>5493000H80W07HCKGS43</lei>
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          <isin value="IL0010952641"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MAKITA CORP</name>
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          <isin value="JP3862400003"/>
          <ticker value="6586"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REGION RE LTD</name>
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          <isin value="AU0000253502"/>
          <ticker value="RGN"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ZEON CORP</name>
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          <isin value="JP3725400000"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ISRAEL CANADA TR LTD</name>
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          <isin value="IL0004340191"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAMSONITE GROUP SA</name>
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          <isin value="LU0633102719"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SWECO AB</name>
        <lei>549300Q4Y55VICYV6U90</lei>
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          <isin value="SE0014960373"/>
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          <other otherDesc="SEDOL" value="BLN9XH8"/>
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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>
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      <invstOrSec>
        <name>EASYJET PLC</name>
        <lei>2138001S47XKWIB7TH90</lei>
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        <cusip>000000000</cusip>
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          <isin value="GB00B7KR2P84"/>
          <ticker value="EZJ"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>AAC TECHNOLOGIES HOLDINGS INC</name>
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          <isin value="KYG2953R1149"/>
          <ticker value="2018"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>AROUNDTOWN SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CLARIANT AG</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMITHS GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ICE FUTURES EUROPE</name>
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        <title>FTSE 100 - Stnd Index Future - ICEU</title>
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        <fairValLevel>1</fairValLevel>
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        <name>MYCRONIC AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SMARTGROUP CORP LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Trust</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SOPRA STERIA GROUP SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QINETIQ GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FIRST PACIFIC COMPANY LTD</name>
        <lei>254900VS1MDQSDM9DE09</lei>
        <title>FIRST PACIFIC COMPANY LTD USD0.01</title>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRITAX BIG BOX REIT PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAGE GROUP PLC (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SANTEN PHARMACEUTICAL COMPANY LTD</name>
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          <isin value="JP3336000009"/>
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        <fairValLevel>2</fairValLevel>
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        <name>EXEO GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SENSHU IKEDA HOLDINGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JAPAN POST INSURANCE CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SHENG SIONG GROUP LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEMETSCHEK SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AMG CRITICAL MATERIALS NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SSAB AB</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MATSUI SECURITIES COMPANY LTD</name>
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        <name>ADECCO GROUP SA/AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.FRONT RETAILING COMPANY LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLEX PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DORAL GROUP RENEWABLE ENERGY RESOURCES LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SHIGA BANK LTD (THE)</name>
        <lei>3538002NUIQ8JFEJNS94</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3347600003"/>
          <ticker value="8366"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUMITOMO HEAVY INDUSTRIES LTD</name>
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        <title>SUMITOMO HEAVY INDUSTRIES LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3405400007"/>
          <ticker value="6302"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMP LTD</name>
        <lei>5299000D93LTLU0UJR35</lei>
        <title>AMP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000AMP6"/>
          <ticker value="AMP"/>
          <other otherDesc="SEDOL" value="6709958"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GRANGES AB</name>
        <lei>5493006UG44TYSIXOB13</lei>
        <title>GRANGES AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0006288015"/>
          <ticker value="GRNG"/>
          <other otherDesc="SEDOL" value="BRJ3BP0"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HACHIJUNI NAGANO BANK LTD</name>
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        <title>HACHIJUNI NAGANO BANK LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3769000005"/>
          <ticker value="8359"/>
          <other otherDesc="SEDOL" value="6400626"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FOOD AND LIFE COMPANIES LTD</name>
        <lei>529900CWF7GCVZKS5M87</lei>
        <title>FOOD AND LIFE COMPANIES LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3397150008"/>
          <ticker value="3563"/>
          <other otherDesc="SEDOL" value="BF1HPT8"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLATEXDEGIRO SE</name>
        <lei>529900IRBZTADXJB6757</lei>
        <title>FLATEXDEGIRO SE NPV (REG)</title>
        <cusip>000000000</cusip>
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          <isin value="DE000FTG1111"/>
          <ticker value="FTK"/>
          <other otherDesc="SEDOL" value="BYVQYG8"/>
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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>
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      <invstOrSec>
        <name>SANYO DENKI CO LTD</name>
        <lei>N/A</lei>
        <title>SANYO DENKI CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3340800006"/>
          <ticker value="6516"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RANDSTAD NV</name>
        <lei>7245009EAAUUQJ0U4T57</lei>
        <title>RANDSTAD NV EUR0.10</title>
        <cusip>000000000</cusip>
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          <isin value="NL0000379121"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PANDORA A/S</name>
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          <other otherDesc="SEDOL" value="B44XTX8"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VEND MARKETPLACES ASA</name>
        <lei>5967007LIEEXZXHT0O36</lei>
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        <cusip>000000000</cusip>
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          <isin value="NO0010736879"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>YOKOHAMA FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3305990008"/>
          <ticker value="7186"/>
          <other otherDesc="SEDOL" value="BD97JW7"/>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CEMBRA MONEY BANK AG</name>
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        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>VICINITY CENTRES RE LTD</name>
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        <title>VICINITY CENTRES RE LTD NPV (STAPLED SECURITY)</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000VCX7"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TRELLEBORG AB</name>
        <lei>213800XY16PAWG2PAD14</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PRIMARY HEALTH PROPERTIES PLC</name>
        <lei>213800Y5CJHXOATK7X11</lei>
        <title>PRIMARY HEALTH PROPERTIES PLC ORD GBP0.125</title>
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          <ticker value="PHP"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MERLIN PROPERTIES SOCIMI SA</name>
        <lei>959800L8KD863DP30X04</lei>
        <title>MERLIN PROPERTIES SOCIMI SA EUR1</title>
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        <fairValLevel>2</fairValLevel>
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        <name>HUHTAMAKI OYJ</name>
        <lei>5493007050SJVMXN6L29</lei>
        <title>HUHTAMAKI OYJ SER'I'NPV</title>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FORVIA SE</name>
        <lei>969500F0VMZLK2IULV85</lei>
        <title>FORVIA SE EUR7</title>
        <cusip>000000000</cusip>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHARTER HALL RETAIL REIT</name>
        <lei>N/A</lei>
        <title>CHARTER HALL RETAIL REIT UNITS NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CQR9"/>
          <ticker value="CQR"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOHOKU ELECTRIC POWER COMPANY INC</name>
        <lei>353800KTF7EYIIYHY088</lei>
        <title>TOHOKU ELECTRIC POWER COMPANY INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3605400005"/>
          <ticker value="9506"/>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CASIO COMPUTER CO LTD</name>
        <lei>353800JRMIABSXKHV344</lei>
        <title>CASIO COMPUTER CO LTD NPV</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VSTECS HOLDINGS LTD</name>
        <lei>N/A</lei>
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          <isin value="KYG9400C1116"/>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TARGET HEALTHCARE REIT PLC</name>
        <lei>213800RXPY9WULUSBC04</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ORACLE CORP (JAPAN)</name>
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          <isin value="JP3689500001"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UT GROUP CO LTD</name>
        <lei>N/A</lei>
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          <isin value="JP3949500007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MITSUBISHI CHEMICAL GROUP CORP</name>
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        <title>MITSUBISHI CHEMICAL GROUP CORP NPV</title>
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          <isin value="JP3897700005"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WESTGOLD RESOURCES LTD</name>
        <lei>2549003AMX9BL7CKBQ74</lei>
        <title>WESTGOLD RESOURCES LTD NPV</title>
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          <isin value="AU000000WGX6"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OLYMPUS CORP</name>
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          <isin value="JP3201200007"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOYO SEIKAN GROUP HOLDINGS LTD</name>
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        <title>TOYO SEIKAN GROUP HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3613400005"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HYAKUJUSHI BANK LTD (THE)</name>
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        <title>HYAKUJUSHI BANK LTD (THE) NPV</title>
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          <isin value="JP3794200000"/>
          <ticker value="8386"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASMPT LTD</name>
        <lei>529900PYFA1HFYKPT360</lei>
        <title>ASMPT LTD HKD0.10</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>PLUS500 LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ACOM COMPANY LTD</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>MATSUDA SANGYO CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AEDIFICA SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ELCO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INDUTRADE AB</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NCC AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HOLMEN AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TAMURA CORP</name>
        <lei>353800W98D8AI066OC02</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>DIPLOMA PLC</name>
        <lei>2138008OGI7VYG8FGR19</lei>
        <title>DIPLOMA PLC ORD GBP0.05</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RORZE CORP</name>
        <lei>529900ORJHC47686AS71</lei>
        <title>RORZE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3982200002"/>
          <ticker value="6323"/>
          <other otherDesc="SEDOL" value="6096650"/>
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        <balance>12900.00000000</balance>
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        <pctVal>0.004352035575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UOL GROUP LTD</name>
        <lei>254900O9PRCWTMR86R25</lei>
        <title>UOL GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1S83002349"/>
          <ticker value="UOL"/>
          <other otherDesc="SEDOL" value="6916844"/>
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        <balance>1620800.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.28245000"/>
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        <pctVal>0.175199091714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEGA OR HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>MEGA OR HOLDINGS LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011044885"/>
          <ticker value="MGOR"/>
          <other otherDesc="SEDOL" value="B2N78D0"/>
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        <balance>20302.00000000</balance>
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        <pctVal>0.046191852407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SEKISUI HOUSE REIT INC</name>
        <lei>N/A</lei>
        <title>SEKISUI HOUSE REIT INC REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047820000"/>
          <ticker value="3309"/>
          <other otherDesc="SEDOL" value="BSKRKL7"/>
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        <balance>2750.00000000</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>
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      </invstOrSec>
      <invstOrSec>
        <name>KONINKLIJKE BAM GROEP NV</name>
        <lei>724500V38C5KTDY5BS93</lei>
        <title>KONINKLIJKE BAM GROEP NV EUR0.10</title>
        <cusip>000000000</cusip>
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          <isin value="NL0000337319"/>
          <ticker value="BAMNB"/>
          <other otherDesc="SEDOL" value="B12W5Y9"/>
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        <pctVal>0.430599955128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FUJI OIL CO LTD</name>
        <lei>N/A</lei>
        <title>FUJI OIL CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3816400000"/>
          <ticker value="2607"/>
          <other otherDesc="SEDOL" value="6356848"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUPERLOOP LTD</name>
        <lei>529900A6RVCX545NWC88</lei>
        <title>SUPERLOOP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SLC8"/>
          <ticker value="SLC"/>
          <other otherDesc="SEDOL" value="BYPC6V1"/>
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        <balance>1786505.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
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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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TIMEE INC</name>
        <lei>N/A</lei>
        <title>TIMEE INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3449040009"/>
          <ticker value="215A"/>
          <other otherDesc="SEDOL" value="BLGSM64"/>
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        <balance>50300.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>YAMAGUCHI FINANCIAL GROUP INC</name>
        <lei>353800898JPV95YSY548</lei>
        <title>YAMAGUCHI FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3935300008"/>
          <ticker value="8418"/>
          <other otherDesc="SEDOL" value="B1DGKS9"/>
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        <balance>870100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>
      <invstOrSec>
        <name>TURPAZ INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>TURPAZ INDUSTRIES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011756116"/>
          <ticker value="TRPZ"/>
          <other otherDesc="SEDOL" value="BKPH801"/>
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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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AIR FRANCE - KLM SA</name>
        <lei>969500AQW31GYO8JZD66</lei>
        <title>AIR FRANCE - KLM SA EUR1 (POST CONSOLIDATION)</title>
        <cusip>000000000</cusip>
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          <isin value="FR001400J770"/>
          <ticker value="AF"/>
          <other otherDesc="SEDOL" value="BMV2C79"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T &amp; D HOLDINGS INC</name>
        <lei>3538008ARJ1MACEWA242</lei>
        <title>T &amp; D HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3539220008"/>
          <ticker value="8795"/>
          <other otherDesc="SEDOL" value="6744294"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JENOPTIK AG</name>
        <lei>529900P34GDHGXK6VB37</lei>
        <title>JENOPTIK AG NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A2NB601"/>
          <ticker value="JEN"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REPLY SPA</name>
        <lei>815600DAEFB0388F3521</lei>
        <title>REPLY SPA EUR0.13(POST SUBD)</title>
        <cusip>000000000</cusip>
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          <ticker value="REY"/>
          <other otherDesc="SEDOL" value="BZ1DZ96"/>
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        <balance>75022.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BACHEM HOLDING AG</name>
        <lei>506700S81111XI7TG884</lei>
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        <cusip>000000000</cusip>
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          <isin value="CH1176493729"/>
          <ticker value="BANB"/>
          <other otherDesc="SEDOL" value="BMXVKB4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WPP PLC</name>
        <lei>549300LSGBXPYHXGDT93</lei>
        <title>WPP PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
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          <isin value="JE00B8KF9B49"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KENON HOLDINGS LTD</name>
        <lei>254900N5LVBX92GMVN72</lei>
        <title>KENON HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG9999012629"/>
          <ticker value="KEN"/>
          <other otherDesc="SEDOL" value="BV8WW64"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AKER SOLUTIONS ASA</name>
        <lei>5967007LIEEXZXG42836</lei>
        <title>AKER SOLUTIONS ASA NOK1.08</title>
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          <ticker value="AKSO"/>
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        <assetCat>EC</assetCat>
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        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CURRYS PLC</name>
        <lei>2138001E12GWLLDQQF16</lei>
        <title>CURRYS PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
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          <ticker value="CURY"/>
          <other otherDesc="SEDOL" value="B4Y7R14"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROYAL UNIBREW A/S</name>
        <lei>529900D69KFL8IAP8Q63</lei>
        <title>ROYAL UNIBREW A/S DKK2</title>
        <cusip>000000000</cusip>
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          <isin value="DK0060634707"/>
          <ticker value="RBREW"/>
          <other otherDesc="SEDOL" value="BX8ZX20"/>
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        <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>TOSOH CORP</name>
        <lei>529900YSLFVJF2MDBX02</lei>
        <title>TOSOH CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3595200001"/>
          <ticker value="4042"/>
          <other otherDesc="SEDOL" value="6900289"/>
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        <valUSD>36995610.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENUSPLUS GROUP LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOKYO CENTURY CORP</name>
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          <isin value="JP3424950008"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NITTO BOSEKI CO LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3684400009"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ZEALAND PHARMA A/S</name>
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        <cusip>000000000</cusip>
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          <isin value="DK0060257814"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OITA BANK LTD (THE)</name>
        <lei>35380074A4QB6YEFB933</lei>
        <title>OITA BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3175200009"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WAREHOUSE DE PAUW NV</name>
        <lei>549300HWDYC5JXC85138</lei>
        <title>WAREHOUSE DE PAUW NV NPV</title>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARRATT REDROW PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EL AL ISRAEL AIRLINES LTD</name>
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        <title>EL AL ISRAEL AIRLINES LTD ILS1</title>
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          <isin value="IL0010878242"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JOHNSON ELECTRIC HOLDINGS LTD</name>
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          <isin value="BMG5150J1577"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BET SHEMESH ENGINES HOLDINGS (1997) LTD</name>
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          <isin value="IL0010815616"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AICHI FINANCIAL GROUP INC</name>
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          <isin value="JP3104790005"/>
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        <fairValLevel>2</fairValLevel>
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        <name>COSMO ENERGY HOLDINGS CO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SINCH AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CONVATEC GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ITV PLC</name>
        <lei>ZLECI7ED2QMWFGYCXZ59</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BILFINGER SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MELEXIS NV</name>
        <lei>549300QRPSGOJRPUFO80</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NEXT VISION STABILIZED SYS LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AMOT INVESTMENTS LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HKFE Clearing Corporation Limited</name>
        <lei>213800WPJUJBAVXI5162</lei>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ELSIGHT LTD</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SURUGA BANK LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TORM PLC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>QIAGEN NV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BUNZL PLC</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>EDENRED SA</name>
        <lei>9695006LOD5B2D7Y0N70</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIRST RESOURCES LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>VAN LANSCHOT KEMPEN NV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEITAV INVESTMENTS HOUSE LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DAIDO STEEL COMPANY LTD</name>
        <lei>353800WZKGRNG0T2FR92</lei>
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          <isin value="JP3491000000"/>
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        <fairValLevel>2</fairValLevel>
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        <name>NANTO BANK LTD (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DAITO TRUST CONSTRUCTION CO LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SUMITOMO PHARMA CO LTD</name>
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        <name>FIRST INTERNATIONAL BANK OF ISRAEL LTD (THE)</name>
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        <name>G CITY LTD</name>
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        <name>NTN CORP</name>
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        <name>OKAMURA CORP</name>
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        <name>MUSASHINO BANK LTD (THE)</name>
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        <name>UNICHARM CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TECHNOGYM SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TISI INC</name>
        <lei>35380064HYEZXBQHDF07</lei>
        <title>TISI INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3104890003"/>
          <ticker value="3626"/>
          <other otherDesc="SEDOL" value="B2Q4CR0"/>
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        <balance>100600.00000000</balance>
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        <pctVal>0.033786018582</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>NABTESCO CORP</name>
        <lei>529900DVHQXYRTGW7739</lei>
        <title>NABTESCO CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3651210001"/>
          <ticker value="6268"/>
          <other otherDesc="SEDOL" value="6687571"/>
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        <balance>990400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>28467025.33000000</valUSD>
        <pctVal>0.398780417033</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>ZIP CO LTD</name>
        <lei>254900RM95URFC15G140</lei>
        <title>ZIP CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000218307"/>
          <ticker value="ZIP"/>
          <other otherDesc="SEDOL" value="BPP1Y77"/>
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        <balance>2884749.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
        <valUSD>5164660.44000000</valUSD>
        <pctVal>0.072349162591</pctVal>
        <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>
      <invstOrSec>
        <name>NIPPON THOMPSON COMPANY LTD</name>
        <lei>353800F1TL8X5AMTY686</lei>
        <title>NIPPON THOMPSON COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3739400004"/>
          <ticker value="6480"/>
          <other otherDesc="SEDOL" value="6643562"/>
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        <balance>84800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <pctVal>0.012963458407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AYALON INSURANCE CO LTD</name>
        <lei>N/A</lei>
        <title>AYALON INSURANCE CO LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0002090152"/>
          <ticker value="AYAL"/>
          <other otherDesc="SEDOL" value="6051897"/>
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        <balance>9729.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.05650000"/>
        <valUSD>448358.50000000</valUSD>
        <pctVal>0.006280831507</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>SUPERMARKET INCOME REIT PLC</name>
        <lei>2138007FOINJKAM7L537</lei>
        <title>SUPERMARKET INCOME REIT PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BF345X11"/>
          <ticker value="SUPR"/>
          <other otherDesc="SEDOL" value="BF345X1"/>
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        <balance>1224524.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
        <valUSD>1418478.44000000</valUSD>
        <pctVal>0.019870759845</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>NICHIAS CORP</name>
        <lei>N/A</lei>
        <title>NICHIAS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3660400007"/>
          <ticker value="5393"/>
          <other otherDesc="SEDOL" value="6641146"/>
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        <balance>68000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>
      <invstOrSec>
        <name>SANDFIRE RESOURCES LTD</name>
        <lei>213800ZW52P23FVH1V47</lei>
        <title>SANDFIRE RESOURCES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SFR8"/>
          <ticker value="SFR"/>
          <other otherDesc="SEDOL" value="6739739"/>
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        <balance>4131704.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
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        <pctVal>0.766166162528</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>MITSUI-SOKO HOLDING CO LTD</name>
        <lei>N/A</lei>
        <title>MITSUI-SOKO HOLDING CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3891200002"/>
          <ticker value="9302"/>
          <other otherDesc="SEDOL" value="6597647"/>
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        <balance>30800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>NORTH PACIFIC BANK LTD</name>
        <lei>549300A1ZLTL4KX3DZ92</lei>
        <title>NORTH PACIFIC BANK LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3843400007"/>
          <ticker value="8524"/>
          <other otherDesc="SEDOL" value="B7VKZP7"/>
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        <balance>668100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>
      <invstOrSec>
        <name>MEDIBANK PRIVATE LTD</name>
        <lei>BDYVSUPTML83OLINBJ17</lei>
        <title>MEDIBANK PRIVATE LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MPL3"/>
          <ticker value="MPL"/>
          <other otherDesc="SEDOL" value="BRTNNQ5"/>
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        <balance>527362.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
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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>COCA-COLA BOTTLERS JAPAN HOLDINGS INC</name>
        <lei>353800XN1G90665VTQ16</lei>
        <title>COCA-COLA BOTTLERS JAPAN HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3293200006"/>
          <ticker value="2579"/>
          <other otherDesc="SEDOL" value="6163286"/>
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        <balance>101400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>TRAINLINE PLC</name>
        <lei>213800HO26VXTFJ4MO71</lei>
        <title>TRAINLINE PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BKDTK925"/>
          <ticker value="TRN"/>
          <other otherDesc="SEDOL" value="BKDTK92"/>
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        <balance>3314359.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JYSKE BANK A/S</name>
        <lei>3M5E1GQGKL17HI6CPN30</lei>
        <title>JYSKE BANK A/S DKK10</title>
        <cusip>000000000</cusip>
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          <isin value="DK0010307958"/>
          <ticker value="JYSK"/>
          <other otherDesc="SEDOL" value="B0386J1"/>
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        <balance>82849.00000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.48200000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JTEKT CORP</name>
        <lei>353800SK6NPOZVCBOI04</lei>
        <title>JTEKT CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3292200007"/>
          <ticker value="6473"/>
          <other otherDesc="SEDOL" value="6497082"/>
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        <balance>874300.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FUJITA KANKO INC</name>
        <lei>N/A</lei>
        <title>FUJITA KANKO INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3816800001"/>
          <ticker value="9722"/>
          <other otherDesc="SEDOL" value="6356923"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOTO LTD</name>
        <lei>N/A</lei>
        <title>TOTO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3596200000"/>
          <ticker value="5332"/>
          <other otherDesc="SEDOL" value="6897466"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAPAN HOTEL REIT INVESTMENT CORP</name>
        <lei>353800L8KG849FP1JI68</lei>
        <title>JAPAN HOTEL REIT INVESTMENT CORP REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046400002"/>
          <ticker value="8985"/>
          <other otherDesc="SEDOL" value="B1530B1"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>YH DIMRI BUILDING &amp; DEVELOPMENT LTD</name>
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        <cusip>000000000</cusip>
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          <ticker value="DIMRI"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHALLENGER LTD</name>
        <lei>529900ACCCAOHJ2V3169</lei>
        <title>CHALLENGER LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CGF5"/>
          <ticker value="CGF"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMPOL LTD</name>
        <lei>5493009TD1CGVRZ27U11</lei>
        <title>AMPOL LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000088338"/>
          <ticker value="ALD"/>
          <other otherDesc="SEDOL" value="BM91201"/>
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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>
      <invstOrSec>
        <name>STANLEY ELECTRIC CO LTD</name>
        <lei>N/A</lei>
        <title>STANLEY ELECTRIC CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3399400005"/>
          <ticker value="6923"/>
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        <pctVal>0.239014965722</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>TOBU RAILWAY CO LTD</name>
        <lei>N/A</lei>
        <title>TOBU RAILWAY CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3597800006"/>
          <ticker value="9001"/>
          <other otherDesc="SEDOL" value="6895169"/>
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        <balance>141800.00000000</balance>
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        <valUSD>2750567.44000000</valUSD>
        <pctVal>0.038531332939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KANTO DENKA KOGYO CO LTD</name>
        <lei>N/A</lei>
        <title>KANTO DENKA KOGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3232600001"/>
          <ticker value="4047"/>
          <other otherDesc="SEDOL" value="6483627"/>
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        <balance>121600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>1983848.77000000</valUSD>
        <pctVal>0.027790751954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIXTRON SE</name>
        <lei>5299004UJ4D51M25LD67</lei>
        <title>AIXTRON SE ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A0WMPJ6"/>
          <ticker value="AIXA"/>
          <other otherDesc="SEDOL" value="5468346"/>
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        <balance>828940.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
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        <pctVal>0.489817221910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GETINGE AB</name>
        <lei>5493003PZ4F570G3W735</lei>
        <title>GETINGE AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000202624"/>
          <ticker value="GETIB"/>
          <other otherDesc="SEDOL" value="7698356"/>
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        <balance>1197625.00000000</balance>
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        <pctVal>0.418171020860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROHTO PHARMACEUTICAL CO LTD</name>
        <lei>353800Q1CW5OS81OUM12</lei>
        <title>ROHTO PHARMACEUTICAL CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3982400008"/>
          <ticker value="4527"/>
          <other otherDesc="SEDOL" value="6747367"/>
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        <balance>395500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMBEA AB</name>
        <lei>549300AEVNZRHYI5HV24</lei>
        <title>AMBEA AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0009663826"/>
          <ticker value="AMBEA"/>
          <other otherDesc="SEDOL" value="BYXPJQ8"/>
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        <balance>62251.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.52220000"/>
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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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DOF GROUP ASA</name>
        <lei>213800GIV9N2A714T434</lei>
        <title>DOF GROUP ASA 8.125% SNR NTS USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0012851874"/>
          <ticker value="DOFG"/>
          <other otherDesc="SEDOL" value="BQWSKZ8"/>
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        <balance>1303709.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.47750000"/>
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        <pctVal>0.239909782682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TP ICAP GROUP PLC</name>
        <lei>2138006YAA7IRVKKGE63</lei>
        <title>TP ICAP GROUP PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00BMDZN391"/>
          <ticker value="TCAP"/>
          <other otherDesc="SEDOL" value="BMDZN39"/>
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        <balance>6943525.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
        <valUSD>32069467.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRS REIT PLC (THE)</name>
        <lei>21380037Q91HU97WZX58</lei>
        <title>PRS REIT PLC (THE) ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BF01NH51"/>
          <ticker value="PRSR"/>
          <other otherDesc="SEDOL" value="BF01NH5"/>
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        <balance>1680616.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
        <valUSD>0.03000000</valUSD>
        <pctVal>0.000000000420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARTER HALL GROUP</name>
        <lei>N/A</lei>
        <title>CHARTER HALL GROUP NPV (STAPLED)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CHC0"/>
          <ticker value="CHC"/>
          <other otherDesc="SEDOL" value="B15F6S6"/>
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        <balance>3130536.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
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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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YAMAHA CORP</name>
        <lei>529900S5TENP3IJS7S02</lei>
        <title>YAMAHA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3942600002"/>
          <ticker value="7951"/>
          <other otherDesc="SEDOL" value="6642387"/>
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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>VUSIONGROUP SA</name>
        <lei>969500U51BYOMEW9M549</lei>
        <title>VUSIONGROUP SA EUR2</title>
        <cusip>000000000</cusip>
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          <isin value="FR0010282822"/>
          <ticker value="VU"/>
          <other otherDesc="SEDOL" value="B0XMRC3"/>
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        <balance>14938.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEINO HOLDINGS COMPANY LTD</name>
        <lei>3538001D12EPCPYTTF24</lei>
        <title>SEINO HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3415400005"/>
          <ticker value="9076"/>
          <other otherDesc="SEDOL" value="6793423"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PSP SWISS PROPERTY AG</name>
        <lei>50670042Y437P8X44F56</lei>
        <title>PSP SWISS PROPERTY AG CHF0.10 (REGD)</title>
        <cusip>000000000</cusip>
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          <isin value="CH0018294154"/>
          <ticker value="PSPN"/>
          <other otherDesc="SEDOL" value="B012877"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AAK AB</name>
        <lei>549300GK4LGIDDWJWL07</lei>
        <title>AAK AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0011337708"/>
          <ticker value="AAK"/>
          <other otherDesc="SEDOL" value="BF2FPV3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SPIE SA</name>
        <lei>969500TJNS5GSFWJ8X85</lei>
        <title>SPIE SA EUR0.47</title>
        <cusip>000000000</cusip>
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          <isin value="FR0012757854"/>
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          <other otherDesc="SEDOL" value="BYZFYS3"/>
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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>TSUMURA &amp; COMPANY</name>
        <lei>3538005RS3M1OVJLC663</lei>
        <title>TSUMURA &amp; COMPANY NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3535800001"/>
          <ticker value="4540"/>
          <other otherDesc="SEDOL" value="6906919"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAVARIAN NORDIC A/S</name>
        <lei>2138006JCDVYIN6INP51</lei>
        <title>BAVARIAN NORDIC A/S DKK10</title>
        <cusip>000000000</cusip>
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          <isin value="DK0015998017"/>
          <ticker value="BAVA"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ST. JAMES'S PLACE PLC</name>
        <lei>213800M993ICXOMBCP87</lei>
        <title>ST. JAMES'S PLACE PLC ORD GBP0.15</title>
        <cusip>000000000</cusip>
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          <isin value="GB0007669376"/>
          <ticker value="STJ"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AJ BELL PLC</name>
        <lei>213800VNKA7DPWXWJJ36</lei>
        <title>AJ BELL PLC ORD GBP0.000125</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BFZNLB60"/>
          <ticker value="AJB"/>
          <other otherDesc="SEDOL" value="BFZNLB6"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OUTOKUMPU OYJ</name>
        <lei>5493009YRUJJDCFF0R80</lei>
        <title>OUTOKUMPU OYJ SER'A'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FI0009002422"/>
          <ticker value="OUT1V"/>
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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>
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      </invstOrSec>
      <invstOrSec>
        <name>ALONY HETZ PROPERTIES &amp; INVESTMENTS LTD</name>
        <lei>213800PNXOBRJDRRDC27</lei>
        <title>ALONY HETZ PROPERTIES &amp; INVESTMENTS LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0003900136"/>
          <ticker value="ALHE"/>
          <other otherDesc="SEDOL" value="6013154"/>
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        <balance>447254.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.05650000"/>
        <valUSD>4644769.01000000</valUSD>
        <pctVal>0.065066261801</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>GEORG FISCHER AG</name>
        <lei>529900CMRQYW4U1W2456</lei>
        <title>GEORG FISCHER AG CHF0.05 (REGD) (POST SPLIT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1169151003"/>
          <ticker value="GF"/>
          <other otherDesc="SEDOL" value="BM8J5G3"/>
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        <balance>349609.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.80845000"/>
        <valUSD>22417117.19000000</valUSD>
        <pctVal>0.314030259153</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>
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      </invstOrSec>
      <invstOrSec>
        <name>BIG YELLOW GROUP PLC</name>
        <lei>213800W7Q4V2ZI8LIW31</lei>
        <title>BIG YELLOW GROUP PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002869419"/>
          <ticker value="BYG"/>
          <other otherDesc="SEDOL" value="0286941"/>
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        <balance>580866.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
        <valUSD>6954335.48000000</valUSD>
        <pctVal>0.097419831217</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>FUCHS SE</name>
        <lei>529900SNF9E1P5ZO4P98</lei>
        <title>FUCHS SE NON VTG PRF NPV (REG)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A3E5D64"/>
          <ticker value="FPE3"/>
          <other otherDesc="SEDOL" value="BNHRG84"/>
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        <balance>234429.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>10865984.64000000</valUSD>
        <pctVal>0.152216181212</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>
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      </invstOrSec>
      <invstOrSec>
        <name>QANTAS AIRWAYS LTD</name>
        <lei>YLXNW6TI6QSK1H8H0N82</lei>
        <title>QANTAS AIRWAYS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000QAN2"/>
          <ticker value="QAN"/>
          <other otherDesc="SEDOL" value="6710347"/>
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        <balance>1217682.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
        <valUSD>8473870.12000000</valUSD>
        <pctVal>0.118706237169</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>OIL RAFINERIES LTD</name>
        <lei>213800CWUC7NV7VR3D03</lei>
        <title>OIL RAFINERIES LTD COM STK ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0025902482"/>
          <ticker value="ORL"/>
          <other otherDesc="SEDOL" value="B1S0581"/>
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        <balance>1167851.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.05650000"/>
        <valUSD>744306.81000000</valUSD>
        <pctVal>0.010426624371</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>
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      </invstOrSec>
      <invstOrSec>
        <name>NKT A/S</name>
        <lei>529900197LKWCEQ0NL18</lei>
        <title>NKT A/S DKK20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0010287663"/>
          <ticker value="NKT"/>
          <other otherDesc="SEDOL" value="7106354"/>
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        <balance>170180.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.48200000"/>
        <valUSD>23227445.03000000</valUSD>
        <pctVal>0.325381739338</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>EUREX Clearing Aktiengesellschaft</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO STOXX 50 Index Futures(FESX) Index Fut</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000C757930"/>
          <ticker value="FESX U26-EUX"/>
          <other otherDesc="FIGI" value="BBG01JFBR1B2"/>
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        <balance>753.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>776455.55000000</valUSD>
        <pctVal>0.010876980100</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>EUREX Clearing Aktiengesellschaft</counterpartyName>
              <counterpartyLei>529900LN3S50JPU47S06</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>DEUTSCHE BORSE AKTIENGESELLSCHAFT</issuerName>
                <issueTitle>EURO STOXX 50</issueTitle>
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                  <cusip value="000000000"/>
                  <ticker value="SX5E"/>
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            <expDate>2026-09-18</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>776455.55000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRITISH LAND COMPANY PLC (THE)</name>
        <lei>RV5B68J2GV3QGMRPW209</lei>
        <title>BRITISH LAND COMPANY PLC (THE) ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0001367019"/>
          <ticker value="BLND"/>
          <other otherDesc="SEDOL" value="0136701"/>
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        <balance>396067.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
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        <pctVal>0.033176831641</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>H. LUNDBECK A/S</name>
        <lei>5493006R4KC2OI5D3470</lei>
        <title>H. LUNDBECK A/S SER'B'DKK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0061804770"/>
          <ticker value="HLUNB"/>
          <other otherDesc="SEDOL" value="BMGTJT6"/>
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        <balance>160867.00000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.48200000"/>
        <valUSD>1029201.58000000</valUSD>
        <pctVal>0.014417573684</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>
        <name>PENTA-OCEAN CONSTRUCTION CO LTD</name>
        <lei>529900QN42Q9UIW3AS17</lei>
        <title>PENTA-OCEAN CONSTRUCTION CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3309000002"/>
          <ticker value="1893"/>
          <other otherDesc="SEDOL" value="6680804"/>
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        <balance>218500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <pctVal>0.028490262922</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>OKASAN SECURITIES GROUP INC</name>
        <lei>N/A</lei>
        <title>OKASAN SECURITIES GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3190800007"/>
          <ticker value="8609"/>
          <other otherDesc="SEDOL" value="6657949"/>
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        <balance>1671000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AUSTRIA TECHNOLOGIE &amp; SYSTEMTECHNIK AG</name>
        <lei>529900EVOKN4LCCD9321</lei>
        <title>AUSTRIA TECHNOLOGIE &amp; SYSTEMTECHNIK AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000969985"/>
          <ticker value="ATS"/>
          <other otherDesc="SEDOL" value="B2RK5K1"/>
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        <balance>171880.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
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        <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>
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      <invstOrSec>
        <name>MITSUI HIGH-TEC INC</name>
        <lei>N/A</lei>
        <title>MITSUI HIGH-TEC INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3892400007"/>
          <ticker value="6966"/>
          <other otherDesc="SEDOL" value="6597432"/>
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        <balance>207800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRESENIUS MEDICAL CARE AG</name>
        <lei>549300CP8NY40UP89Q40</lei>
        <title>FRESENIUS MEDICAL CARE AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005785802"/>
          <ticker value="FME"/>
          <other otherDesc="SEDOL" value="5129074"/>
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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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEXTEER AUTOMOTIVE GROUP LTD</name>
        <lei>529900O9GGNBKMJ9UO48</lei>
        <title>NEXTEER AUTOMOTIVE GROUP LTD HKD0.1</title>
        <cusip>000000000</cusip>
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          <isin value="KYG6501M1050"/>
          <ticker value="1316"/>
          <other otherDesc="SEDOL" value="BBPD5F0"/>
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        <currencyConditional curCd="HKD" exchangeRt="7.84240000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASAHI INTECC COMPANY LTD</name>
        <lei>353800J3AV2SCNIO8L39</lei>
        <title>ASAHI INTECC COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3110650003"/>
          <ticker value="7747"/>
          <other otherDesc="SEDOL" value="B019MQ5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BIOARCTIC AB</name>
        <lei>549300Y0OI2WVUNHLC33</lei>
        <title>BIOARCTIC AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0010323311"/>
          <ticker value="BIOAB"/>
          <other otherDesc="SEDOL" value="BDVP4H9"/>
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        <balance>27051.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.52220000"/>
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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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KONECRANES OYJ</name>
        <lei>549300EF0CDEQZBMA096</lei>
        <title>KONECRANES OYJ NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI0009005870"/>
          <ticker value="KCR"/>
          <other otherDesc="SEDOL" value="B11WFP1"/>
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        <balance>84790.00000000</balance>
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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>
        <name>OJI HOLDINGS CORP</name>
        <lei>529900LVC9GIIYUGE243</lei>
        <title>OJI HOLDINGS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3174410005"/>
          <ticker value="3861"/>
          <other otherDesc="SEDOL" value="6657701"/>
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        <balance>314100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>1727171.70000000</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>
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      </invstOrSec>
      <invstOrSec>
        <name>AMADA CO LTD</name>
        <lei>529900QF5O6TQGCPDX85</lei>
        <title>AMADA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3122800000"/>
          <ticker value="6113"/>
          <other otherDesc="SEDOL" value="6022105"/>
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        <balance>191900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <pctVal>0.046119751341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIAL AND INFRASTRUCTURE FUND INVESTMENT CORP</name>
        <lei>353800WCHFY04YKYCI19</lei>
        <title>INDUSTRIAL AND INFRASTRUCTURE FUND INVESTMENT CORP REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046500009"/>
          <ticker value="3249"/>
          <other otherDesc="SEDOL" value="B24HH65"/>
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        <balance>1855.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <pctVal>0.022992604386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ITOKI CORP</name>
        <lei>N/A</lei>
        <title>ITOKI CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3142700008"/>
          <ticker value="7972"/>
          <other otherDesc="SEDOL" value="6468000"/>
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        <balance>16800.00000000</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>
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      </invstOrSec>
      <invstOrSec>
        <name>UMICORE SA</name>
        <lei>529900F3AIQECS8ZSV61</lei>
        <title>UMICORE SA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0974320526"/>
          <ticker value="UMI"/>
          <other otherDesc="SEDOL" value="BF44466"/>
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        <pctVal>0.494104724933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WINGARC1ST INC</name>
        <lei>N/A</lei>
        <title>WINGARC1ST INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3154360006"/>
          <ticker value="4432"/>
          <other otherDesc="SEDOL" value="BHHDV30"/>
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        <balance>56600.00000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DELEK GROUP LTD</name>
        <lei>213800CYKA4XE2HZZB09</lei>
        <title>DELEK GROUP LTD ILS0.1(POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010841281"/>
          <ticker value="DLEKG"/>
          <other otherDesc="SEDOL" value="6219640"/>
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        <balance>222430.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="3.05650000"/>
        <valUSD>5872222.59000000</valUSD>
        <pctVal>0.082261049273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PERSOL HOLDINGS CO LTD</name>
        <lei>3538000H6OI725NB2008</lei>
        <title>PERSOL HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3547670004"/>
          <ticker value="2181"/>
          <other otherDesc="SEDOL" value="B3CY709"/>
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        <balance>353100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>585448.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MELROSE INDUSTRIES PLC</name>
        <lei>213800RGNXXZY2M7TR85</lei>
        <title>MELROSE INDUSTRIES PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BNGDN821"/>
          <ticker value="MRO"/>
          <other otherDesc="SEDOL" value="BNGDN82"/>
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        <balance>1453977.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MANDATUM OYJ</name>
        <lei>743700OAJK6L28Y2NN56</lei>
        <title>MANDATUM OYJ NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000552526"/>
          <ticker value="MANTA"/>
          <other otherDesc="SEDOL" value="BRX9C06"/>
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        <balance>3337251.00000000</balance>
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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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOSIDEN CORP</name>
        <lei>353800IQGIGW1XT2JX97</lei>
        <title>HOSIDEN CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3845800006"/>
          <ticker value="6804"/>
          <other otherDesc="SEDOL" value="6439813"/>
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        <balance>56500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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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>
      <invstOrSec>
        <name>WHITBREAD PLC</name>
        <lei>21380099VMZKRMN3EX36</lei>
        <title>WHITBREAD PLC ORD GBP0.76797385</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1KJJ408"/>
          <ticker value="WTB"/>
          <other otherDesc="SEDOL" value="B1KJJ40"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.74197700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VZ HOLDING AG</name>
        <lei>529900JMJUZCFUVQ0Q82</lei>
        <title>VZ HOLDING AG CHF0.05 (REGD)</title>
        <cusip>000000000</cusip>
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          <isin value="CH0528751586"/>
          <ticker value="VZN"/>
          <other otherDesc="SEDOL" value="BMFJ180"/>
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        <balance>8464.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SCOUT24 SE</name>
        <lei>5493007EIKM2ENQS7U66</lei>
        <title>SCOUT24 SE NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A12DM80"/>
          <ticker value="G24"/>
          <other otherDesc="SEDOL" value="BYT9340"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DOMETIC GROUP AB</name>
        <lei>549300STIPMK5VSA7Y59</lei>
        <title>DOMETIC GROUP AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0007691613"/>
          <ticker value="DOM"/>
          <other otherDesc="SEDOL" value="BYSXJB2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NAGOYA RAILROAD CO LTD</name>
        <lei>353800P62OOYUY3I8T51</lei>
        <title>NAGOYA RAILROAD CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3649800004"/>
          <ticker value="9048"/>
          <other otherDesc="SEDOL" value="6619864"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>C. UYEMURA &amp; COMPANY LTD</name>
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          <isin value="JP3155350006"/>
          <ticker value="4966"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HIROSE ELECTRIC CO LTD</name>
        <lei>N/A</lei>
        <title>HIROSE ELECTRIC CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3799000009"/>
          <ticker value="6806"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCA GENERALI SPA</name>
        <lei>815600903231FA2E7698</lei>
        <title>BANCA GENERALI SPA EUR1</title>
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          <isin value="IT0001031084"/>
          <ticker value="BGN"/>
          <other otherDesc="SEDOL" value="B1HKSV6"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LION CORP</name>
        <lei>529900MPGS2GM7VPG855</lei>
        <title>LION CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3965400009"/>
          <ticker value="4912"/>
          <other otherDesc="SEDOL" value="6518808"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METAPLANET INC</name>
        <lei>3538006DGBY53D3UEV95</lei>
        <title>METAPLANET INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3481200008"/>
          <ticker value="3350"/>
          <other otherDesc="SEDOL" value="B03BJ91"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAGERCRANTZ GROUP AB</name>
        <lei>5493002L6I4YHANEYR87</lei>
        <title>LAGERCRANTZ GROUP AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0014990966"/>
          <ticker value="LAGRB"/>
          <other otherDesc="SEDOL" value="BMWX9N6"/>
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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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGK CORP</name>
        <lei>353800701BNCL25VYY16</lei>
        <title>NGK CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3695200000"/>
          <ticker value="5333"/>
          <other otherDesc="SEDOL" value="6619507"/>
        </identifiers>
        <balance>2015300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>68952285.32000000</valUSD>
        <pctVal>0.965918313436</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>DEXERIALS CORP</name>
        <lei>N/A</lei>
        <title>DEXERIALS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3548770001"/>
          <ticker value="4980"/>
          <other otherDesc="SEDOL" value="BYP97J7"/>
        </identifiers>
        <balance>1091300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>22028823.02000000</valUSD>
        <pctVal>0.308590839008</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>BREMBO NV</name>
        <lei>549300BLWVJN2BAT0A44</lei>
        <title>BREMBO NV EUR0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015001KT6"/>
          <ticker value="BRE"/>
          <other otherDesc="SEDOL" value="BSMM753"/>
        </identifiers>
        <balance>295440.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>3617665.72000000</valUSD>
        <pctVal>0.050678082018</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>SCOR SE</name>
        <lei>96950056ULJ4JI7V3752</lei>
        <title>SCOR SE EUR7.876972</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010411983"/>
          <ticker value="SCR"/>
          <other otherDesc="SEDOL" value="B1LB9P6"/>
        </identifiers>
        <balance>427889.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>16927791.33000000</valUSD>
        <pctVal>0.237133019968</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>COLONIAL SFL SOCIMI SA</name>
        <lei>95980020140005007414</lei>
        <title>COLONIAL SFL SOCIMI SA EUR2.5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0139140174"/>
          <ticker value="COL"/>
          <other otherDesc="SEDOL" value="BD0PJ08"/>
        </identifiers>
        <balance>723023.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>4628016.03000000</valUSD>
        <pctVal>0.064831577626</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>MERCIALYS SA</name>
        <lei>969500081CGAXB7YS433</lei>
        <title>MERCIALYS SA EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010241638"/>
          <ticker value="MERY"/>
          <other otherDesc="SEDOL" value="B0LMF87"/>
        </identifiers>
        <balance>209733.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718950"/>
        <valUSD>2907321.55000000</valUSD>
        <pctVal>0.040727223400</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>TOYO ENGINEERING CORP</name>
        <lei>353800SPB3B3BM0FO630</lei>
        <title>TOYO ENGINEERING CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3607800004"/>
          <ticker value="6330"/>
          <other otherDesc="SEDOL" value="6899718"/>
        </identifiers>
        <balance>362000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>4343491.47000000</valUSD>
        <pctVal>0.060845814401</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="2809639.72000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIMS LTD</name>
        <lei>5493002YM7ZHVDMFC916</lei>
        <title>SIMS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SGM7"/>
          <ticker value="SGM"/>
          <other otherDesc="SEDOL" value="B0LCW75"/>
        </identifiers>
        <balance>90785.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42116100"/>
        <valUSD>1621565.59000000</valUSD>
        <pctVal>0.022715706847</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>JVC KENWOOD CORP</name>
        <lei>529900GGYCEJXM5Y6961</lei>
        <title>JVC KENWOOD CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3386410009"/>
          <ticker value="6632"/>
          <other otherDesc="SEDOL" value="B3CY5L6"/>
        </identifiers>
        <balance>1294900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
        <valUSD>9101571.97000000</valUSD>
        <pctVal>0.127499400579</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>ARYT INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>ARYT INDUSTRIES LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0005870147"/>
          <ticker value="ARYT"/>
          <other otherDesc="SEDOL" value="6049740"/>
        </identifiers>
        <balance>166780.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.05650000"/>
        <valUSD>1376692.10000000</valUSD>
        <pctVal>0.019285395765</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-09-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs Trust</ncom:nameOfApplicant>
      <ncom:signature>Allison Frachiolla</ncom:signature>
      <ncom:signerName>Allison Frachiolla</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
