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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haier Smart Home Co., Ltd.</name>
        <lei>3003002BYTNGNJTWSH07</lei>
        <title>HAIER SMART HOME CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000048K8"/>
        </identifiers>
        <balance>845460.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>2436670.58000000</valUSD>
        <pctVal>1.879240632070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED</name>
        <lei>529900B4W41TCUKJFM73</lei>
        <title>SHENZHOU INTERNATIONAL GROUP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8087W1015"/>
        </identifiers>
        <balance>318692.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1811784.50000000</valUSD>
        <pctVal>1.397307899107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANTA SPORTS PRODUCTS LIMITED</name>
        <lei>529900291XG0CTK4LF95</lei>
        <title>ANTA SPORTS PRODUCTS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG040111059"/>
        </identifiers>
        <balance>352896.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>3552991.63000000</valUSD>
        <pctVal>2.740184205164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HAIDILAO INTERNATIONAL HOLDING LTD.</name>
        <lei>3003009Q8GV4VNKZWI24</lei>
        <title>HAIDILAO INTERNATIONAL HOLDI COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4290A1013"/>
        </identifiers>
        <balance>966900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1466083.58000000</valUSD>
        <pctVal>1.130691959824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="602430.20"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143704"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.83000000</valUSD>
        <pctVal>0.000000640123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143726"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.36000000</valUSD>
        <pctVal>0.000000277643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YUM CHINA HOLDINGS, INC.</name>
        <lei>529900DO9BYZ7VA3K502</lei>
        <title>YUM CHINA HOLDINGS INC COMMON STOCK</title>
        <cusip>98850P109</cusip>
        <identifiers>
          <isin value="US98850P1093"/>
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        <balance>93798.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>4459280.55000000</valUSD>
        <pctVal>3.439144079690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143692"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>3.36000000</valUSD>
        <pctVal>0.000002591342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hesai Group</name>
        <lei>836800KOYHURQT1JZY11</lei>
        <title>HESAI GROUP COMMON STOCK</title>
        <cusip>G4417G114</cusip>
        <identifiers>
          <isin value="KYG4417G1148"/>
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        <balance>417880.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>893142.83000000</valUSD>
        <pctVal>0.688821176795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="323864.63"/>
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      </invstOrSec>
      <invstOrSec>
        <name>TAL EDUCATION GROUP</name>
        <lei>5493003PJZS0EC085V72</lei>
        <title>TAL EDUCATION GROUP- ADR DEPOSITARY RECEIPT</title>
        <cusip>874080104</cusip>
        <identifiers>
          <isin value="US8740801043"/>
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        <balance>184770.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2309625.00000000</valUSD>
        <pctVal>1.781258895015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FUYAO GLASS INDUSTRY GROUP CO., LTD.</name>
        <lei>549300AS5CSLWETN0P64</lei>
        <title>FUYAO GLASS INDUSTRY GROUP-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001TR7"/>
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        <balance>288000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>2181595.59000000</valUSD>
        <pctVal>1.682518395849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anhui Jianghuai Automobile Group Corp., Ltd.</name>
        <lei>300300KQABCMFKN2E931</lei>
        <title>ANHUI JIANGHUAI AUTO GROUP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000018M9"/>
        </identifiers>
        <balance>106100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>412717.59000000</valUSD>
        <pctVal>0.318301403178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143668"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.13000000</valUSD>
        <pctVal>0.000000100260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Great Wall Motor Company Limited</name>
        <lei>254900CR8AHWTMFZHH60</lei>
        <title>GREAT WALL MOTOR CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000338"/>
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        <balance>1167297.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1351644.66000000</valUSD>
        <pctVal>1.042432894311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143678"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.18000000</valUSD>
        <pctVal>0.000000138821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143666"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.02000000</valUSD>
        <pctVal>0.000000015424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143662"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.09000000</valUSD>
        <pctVal>0.000000069410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CCOOP GROUP CO., LTD</name>
        <lei>30030095OU2G4MML7E28</lei>
        <title>CCOOP GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000003W0"/>
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        <balance>849700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>178661.71000000</valUSD>
        <pctVal>0.137789797103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Li Auto Inc.</name>
        <lei>2549003R73Q70J5H4I65</lei>
        <title>LI AUTO INC-CLASS A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5479M1050"/>
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        <balance>354736.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>2415693.53000000</valUSD>
        <pctVal>1.863062439981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143716"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</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>FUYAO GLASS INDUSTRY GROUP CO., LTD.</name>
        <lei>549300AS5CSLWETN0P64</lei>
        <title>FUYAO GLASS INDUSTRY GROUP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000230"/>
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        <balance>94714.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>837270.97000000</valUSD>
        <pctVal>0.645730957558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BYD COMPANY LIMITED</name>
        <lei>5299005557VL7ULJ7A69</lei>
        <title>BYD CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001526"/>
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        <balance>134446.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>1906579.41000000</valUSD>
        <pctVal>1.470416856898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BYD COMPANY LIMITED</name>
        <lei>5299005557VL7ULJ7A69</lei>
        <title>BYD CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000296"/>
        </identifiers>
        <balance>780240.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>9367934.61000000</valUSD>
        <pctVal>7.224859815763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIO INC.</name>
        <lei>549300JBU4TV5OCKJV96</lei>
        <title>NIO INC-CLASS A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6525F1028"/>
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        <balance>610010.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>3019866.89000000</valUSD>
        <pctVal>2.329020840861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEITUAN</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>MEITUAN-CLASS B COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG596691041"/>
        </identifiers>
        <balance>1048700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>12370530.25000000</valUSD>
        <pctVal>9.540560499590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Haier Smart Home Co., Ltd.</name>
        <lei>3003002BYTNGNJTWSH07</lei>
        <title>HAIER SMART HOME CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000CG9"/>
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        <balance>285219.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>979392.40000000</valUSD>
        <pctVal>0.755339686836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143718"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.15000000</valUSD>
        <pctVal>0.000000115684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Huizhou Desay SV Automotive Co Ltd</name>
        <lei>655600CCT6YFPT86LA32</lei>
        <title>HUIZHOU DESAY SV AUTOMOTIV-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000033C7"/>
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        <balance>28700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>392885.81000000</valUSD>
        <pctVal>0.303006481046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143688"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.40000000</valUSD>
        <pctVal>0.000000308493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAIC BluePark New Energy Technology Co., Ltd.</name>
        <lei>N/A</lei>
        <title>BAIC BLUEPARK NEW ENERGY  -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000LP1"/>
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        <balance>299600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>267064.29000000</valUSD>
        <pctVal>0.205968779392</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143706"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.12000000</valUSD>
        <pctVal>0.000000092547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143722"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.33000000</valUSD>
        <pctVal>0.000000254506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Zhejiang China Commodities City Group Co., Ltd</name>
        <lei>300300UELW04DCUGGZ27</lei>
        <title>ZHEJIANG CHINA COMMODITIES-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001BC8"/>
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        <balance>258000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>488998.13000000</valUSD>
        <pctVal>0.377131468835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Laopu Gold Co Ltd</name>
        <lei>2549003X1NWK88OCWI97</lei>
        <title>LAOPU GOLD CO L-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100006JG0"/>
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        <balance>19820.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>820946.75000000</valUSD>
        <pctVal>0.633141181261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="738649.56"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143710"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.28000000</valUSD>
        <pctVal>0.000000215945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAILUN GROUP CO., LTD.</name>
        <lei>300300GF13IPLVWINQ61</lei>
        <title>SAILUN GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000015F7"/>
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        <balance>154753.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>324473.97000000</valUSD>
        <pctVal>0.250245016079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143656"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ecovacs Robotics Co., Ltd.</name>
        <lei>836800LJ92X4OLLS2612</lei>
        <title>ECOVACS ROBOTICS CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000031N8"/>
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        <balance>27850.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
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        <pctVal>0.192957778796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAIC Motor Corporation Limited</name>
        <lei>30030001QBC7EXJJGT71</lei>
        <title>SAIC MOTOR CORP LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000TY6"/>
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        <balance>387700.00000000</balance>
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        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Midea Group Co., Ltd.</name>
        <lei>3003003TRPHLHZD2IF61</lei>
        <title>MIDEA GROUP CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100006M58"/>
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        <balance>185000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK OF NEW YORK (THE)</name>
        <lei>HPFHU0OQ28E4N0NFVK49</lei>
        <title>Spot FX Contract: USD/CNY SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00143674"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-0.72000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>China Tourism Group Duty Free Corporation Limited</name>
        <lei>N/A</lei>
        <title>CHINA TOURISM GROUP DUTY F-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000G29"/>
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        <balance>92250.00000000</balance>
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        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PDD Holdings Inc.</name>
        <lei>5493000573DS7005T657</lei>
        <title>PDD HOLDINGS INC DEPOSITARY RECEIPT</title>
        <cusip>722304102</cusip>
        <identifiers>
          <isin value="US7223041028"/>
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        <balance>123476.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10935034.56000000</valUSD>
        <pctVal>8.433458928310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tongcheng Travel Holdings Limited</name>
        <lei>2549004WGGNOPL8NUL61</lei>
        <title>TONGCHENG TRAVEL HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8918W1069"/>
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        <balance>734200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1337020.00000000</valUSD>
        <pctVal>1.031153874682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143670"/>
        </identifiers>
        <balance>1.00000000</balance>
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        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
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        <pctVal>0.000000061698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yadea Group Holdings Ltd</name>
        <lei>N/A</lei>
        <title>YADEA GROUP HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9830F1063"/>
        </identifiers>
        <balance>915500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1252718.20000000</valUSD>
        <pctVal>0.966137549038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRIP.COM GROUP LIMITED</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>TRIP.COM GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9066F1019"/>
        </identifiers>
        <balance>121122.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>5659444.60000000</valUSD>
        <pctVal>4.364750136751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MINISO GROUP HOLDING LIMITED</name>
        <lei>2549006PIKT2YKNBL092</lei>
        <title>MINISO GROUP HOLDING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6180F1081"/>
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        <balance>310000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1013619.67000000</valUSD>
        <pctVal>0.781736885143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143698"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.03000000</valUSD>
        <pctVal>0.000000023136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS INC</name>
        <lei>MBNUM2BPBDO7JBLYG310</lei>
        <title>CITIGROUP GLOBAL MARKETS INC. SLRPA 3.640% 08/03/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CIGM"/>
        </identifiers>
        <balance>197474</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197474</valUSD>
        <pctVal>0.152298454958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="MBNUM2BPBDO7JBLYG310" name="CITIGROUP GLOBAL MARKETS INC"/>
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          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
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          <maturityDt>2026-08-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>197474</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>197474</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="197474" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITADEL SECURITIES LLC</name>
        <lei>12UUJYTN7D3SW8KCSG25</lei>
        <title>CITADEL SECURITIES LLC SLRPA 3.700% 08/03/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CITA"/>
        </identifiers>
        <balance>773437</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>773437</valUSD>
        <pctVal>0.596500096761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="12UUJYTN7D3SW8KCSG25" name="CITADEL SECURITIES LLC"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.70</repurchaseRt>
          <maturityDt>2026-08-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>773437</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>773437</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="773437" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAIWA CAPITAL MARKETS AMERICA INC</name>
        <lei>M67H5PRC0NQKM73ZAS82</lei>
        <title>DAIWA CAPITAL MARKETS AMERICA INC. SLRPA 3.640% 08/03/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="DAIW"/>
        </identifiers>
        <balance>773437</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>773437</valUSD>
        <pctVal>0.596500096761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="M67H5PRC0NQKM73ZAS82" name="DAIWA CAPITAL MARKETS AMERICA INC"/>
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          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.64</repurchaseRt>
          <maturityDt>2026-08-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>773437</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>773437</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="773437" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Group Holding Limited</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG017191142"/>
        </identifiers>
        <balance>706256.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>10537639.26000000</valUSD>
        <pctVal>8.126974580001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143676"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.12000000</valUSD>
        <pctVal>0.000000092547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chongqing Afari Technology Co., Ltd.</name>
        <lei>N/A</lei>
        <title>CHONGQING AFARI TECHNOLOGY-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000X10"/>
        </identifiers>
        <balance>212700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>262355.41000000</valUSD>
        <pctVal>0.202337135993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIPSHOP HOLDINGS LIMITED</name>
        <lei>549300I9F52K06HPZX60</lei>
        <title>VIPSHOP HOLDINGS LTD - ADR DEPOSITARY RECEIPT</title>
        <cusip>92763W103</cusip>
        <identifiers>
          <isin value="US92763W1036"/>
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        <balance>139311.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2137030.74000000</valUSD>
        <pctVal>1.648148515255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MACQUARIE CAPITAL</name>
        <lei>N/A</lei>
        <title>MSCI CHINA FUTURE SEP26 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FMCHU6"/>
          <other otherDesc="Bloomberg Ticker" value="MURU6"/>
        </identifiers>
        <balance>6.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>186480.00000000</valUSD>
        <pctVal>0.143819519940</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MACQUARIE CAPITAL</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>N/A</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
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            <expDate>2026-09-21</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>15198.71000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gree Electric Appliances, Inc. of Zhuhai</name>
        <lei>655600UY069MU9JRAN62</lei>
        <title>GREE ELECTRIC APPLIANCES I-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000001D4"/>
        </identifiers>
        <balance>131800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>825530.84000000</valUSD>
        <pctVal>0.636676582501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143664"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.48000000</valUSD>
        <pctVal>0.000000370191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Guangzhou Automobile Group Co., Ltd.</name>
        <lei>5299005KY9BJO3ZE6A37</lei>
        <title>GUANGZHOU AUTOMOBILE GROUP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001NQ2"/>
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        <balance>225800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
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        <pctVal>0.142339724435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WANXIANG QIANCHAO CO.,LTD.</name>
        <lei>300300WMILSKZLS04K91</lei>
        <title>WANXIANG QIANCHAO CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000FB3"/>
        </identifiers>
        <balance>156100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>259573.40000000</valUSD>
        <pctVal>0.200191558222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Changzhou Xingyu Automotive Lighting Systems Co., Ltd.</name>
        <lei>N/A</lei>
        <title>CHANGZHOU XINGYU AUTOMOTIV-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000011H2"/>
        </identifiers>
        <balance>13730.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>201678.56000000</valUSD>
        <pctVal>0.155541150158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143708"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.39000000</valUSD>
        <pctVal>0.000000300780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143714"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.12000000</valUSD>
        <pctVal>0.000000092547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143684"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.03000000</valUSD>
        <pctVal>0.000000023136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XPENG INC.</name>
        <lei>549300TZNMIREMWQU857</lei>
        <title>XPENG INC - CLASS A SHARES COMMON STOCK</title>
        <cusip>G982AW100</cusip>
        <identifiers>
          <isin value="KYG982AW1003"/>
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        <balance>394476.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>2545460.82000000</valUSD>
        <pctVal>1.963143249461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUAYU Automotive Systems Company Limited</name>
        <lei>3003001J2BNVV78BOT83</lei>
        <title>HUAYU AUTOMOTIVE SYSTEMS -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000M15"/>
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        <balance>148380.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>370433.68000000</valUSD>
        <pctVal>0.285690658662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143724"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.13000000</valUSD>
        <pctVal>0.000000100260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Li Ning Co Ltd</name>
        <lei>529900T77L2FV3FZ3U81</lei>
        <title>LI NING CO LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5496K1242"/>
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        <balance>953500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1842165.50000000</valUSD>
        <pctVal>1.420738727267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143660"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.01000000</valUSD>
        <pctVal>0.000000007712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Shenzhen Kedali Industry Co., Ltd</name>
        <lei>N/A</lei>
        <title>SHENZHEN KEDALI INDUSTRY C-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002JW6"/>
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        <balance>13300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>359037.37000000</valUSD>
        <pctVal>0.276901448917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pop Mart International Group Ltd</name>
        <lei>9845000A05E8F937E337</lei>
        <title>POP MART INTERNATIONAL GROUP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG7170M1033"/>
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        <balance>145200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>3010803.92000000</valUSD>
        <pctVal>2.322031179800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2468928.76"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143686"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.41000000</valUSD>
        <pctVal>0.000000316205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ningbo Tuopu Group Co., Ltd.</name>
        <lei>N/A</lei>
        <title>NINGBO TUOPU GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000023J3"/>
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        <balance>81845.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>565355.12000000</valUSD>
        <pctVal>0.436020495250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143720"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>0.22000000</valUSD>
        <pctVal>0.000000169671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143672"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143680"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1.12000000</valUSD>
        <pctVal>0.000000863780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143690"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GEELY AUTOMOBILE HOLDINGS LIMITED</name>
        <lei>549300YS3T1KVQ2SNI84</lei>
        <title>GEELY AUTOMOBILE HOLDINGS LT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3777B1032"/>
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        <balance>1873000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sichuan Changhong Electric Co., Ltd.</name>
        <lei>300300WM1QVA4ET9HJ12</lei>
        <title>SICHUAN CHANGHONG ELECTRIC-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000GJ4"/>
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        <balance>217200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JD.COM, INC.</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC-CLASS A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8208B1014"/>
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        <balance>545004.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143694"/>
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        <balance>1.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143658"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>H World Group Limited</name>
        <lei>549300Y5ML31FVN83730</lei>
        <title>H World Group Limited DEPOSITARY RECEIPT</title>
        <cusip>44332N106</cusip>
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          <isin value="US44332N1063"/>
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        <curCd>USD</curCd>
        <valUSD>2728574.04000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143712"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143700"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHOW TAI FOOK JEWELLERY GROUP LIMITED</name>
        <lei>254900VXRL7SRSF44G79</lei>
        <title>CHOW TAI FOOK JEWELLERY GROU COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG211461085"/>
        </identifiers>
        <balance>1154100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1820574.50000000</valUSD>
        <pctVal>1.404087036710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1080816.68"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CNY/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCNY__00143696"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>0.60000000</valUSD>
        <pctVal>0.000000462739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: HKD/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTHKD__00143702"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1.93000000</valUSD>
        <pctVal>0.000001488479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ORIENTAL EDUCATION &amp; TECHNOLOGY GROUP INC.</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>NEW ORIENTAL EDUCATION &amp; TEC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6470A1168"/>
        </identifiers>
        <balance>492340.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>2842934.50000000</valUSD>
        <pctVal>2.192564752317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seres Group Co.,Ltd.</name>
        <lei>3003002LTJSDNVNIPU58</lei>
        <title>SERES GROUP CO L-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000028B9"/>
        </identifiers>
        <balance>74700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>688553.17000000</valUSD>
        <pctVal>0.531034890405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chongqing Changan Automobile Company Limited</name>
        <lei>300300WKFSBX9P5ZOM25</lei>
        <title>CHONGQING CHANGAN AUTOMOB-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000R36"/>
        </identifiers>
        <balance>389208.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>453559.24000000</valUSD>
        <pctVal>0.349799829265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Midea Group Co., Ltd.</name>
        <lei>3003003TRPHLHZD2IF61</lei>
        <title>MIDEA GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001QQ5"/>
        </identifiers>
        <balance>156800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.75340000"/>
        <valUSD>2033891.08000000</valUSD>
        <pctVal>1.568603811329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES INC</name>
        <lei>9J6MBOOO7BECTDTUZW19</lei>
        <title>Deutsche Bank Securities Inc. SLRPA 3.640% 08/03/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="DEUS"/>
        </identifiers>
        <balance>773437</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>773437</valUSD>
        <pctVal>0.596500096761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="9J6MBOOO7BECTDTUZW19" name="DEUTSCHE BANK SECURITIES INC"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.64</repurchaseRt>
          <maturityDt>2026-08-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>773437</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>773437</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="773437" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RBC DOMINION SECURITIES INC</name>
        <lei>549300QJJX6CVVUXLE15</lei>
        <title>RBC DOMINION SECURITIES INC. SLRPA 3.640% 08/03/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="RBCD"/>
        </identifiers>
        <balance>773437</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>773437</valUSD>
        <pctVal>0.596500096761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300QJJX6CVVUXLE15" name="RBC DOMINION SECURITIES INC"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.64</repurchaseRt>
          <maturityDt>2026-08-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>773437</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>773437</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="773437" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-31</ncom:dateSigned>
      <ncom:nameOfApplicant>GLOBAL X FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Joe Costello</ncom:signature>
      <ncom:signerName>Joe Costello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
