<SEC-DOCUMENT>0001752724-20-060196.txt : 20200326
<SEC-HEADER>0001752724-20-060196.hdr.sgml : 20200326
<ACCEPTANCE-DATETIME>20200326102706
ACCESSION NUMBER:		0001752724-20-060196
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200131
FILED AS OF DATE:		20200326
PERIOD START:           	20201031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL & EASTERN EUROPE FUND, INC.
		CENTRAL INDEX KEY:			0000860489
		IRS NUMBER:				133556099
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06041
		FILM NUMBER:		20744529

	BUSINESS ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225
		BUSINESS PHONE:		212-454-4500

	MAIL ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTRAL EUROPE, RUSSIA & TURKEY FUND, INC.
		DATE OF NAME CHANGE:	20130429

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTRAL EUROPE & RUSSIA FUND, INC.
		DATE OF NAME CHANGE:	20070108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTRAL EUROPE & RUSSIA FUND INC
		DATE OF NAME CHANGE:	20030723
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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      <filer>
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          <ccc>XXXXXXXX</ccc>
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      <regFileNumber>811-06041</regFileNumber>
      <regCik>0000860489</regCik>
      <regLei>549300TSXFIOF89ZI608</regLei>
      <regStreet1>875 Third Avenue</regStreet1>
      <regStreet2>NULL</regStreet2>
      <regCity>New York</regCity>
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      <regZipOrPostalCode>10022-6225</regZipOrPostalCode>
      <regPhone>212-454-4500</regPhone>
      <seriesName>Central and Eastern Europe Fund, Inc.</seriesName>
      <seriesLei>549300TSXFIOF89ZI608</seriesLei>
      <repPdEnd>2020-10-31</repPdEnd>
      <repPdDate>2020-01-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>222606356.18</totAssets>
      <totLiabs>14773434.2</totLiabs>
      <netAssets>207832921.98</netAssets>
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        <name>YANDEX NV-A</name>
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        <balance>77548.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HACI OMER SABANCI HOLDIN /TRY/</name>
        <lei>78900090FFOWNLGP0F20</lei>
        <title>HACI OMER SABANCI HOLDING /TRY/ 0.00000000</title>
        <cusip>M8223R100</cusip>
        <identifiers>
          <isin value="TRASAHOL91Q5"/>
        </identifiers>
        <balance>1200000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.98590000"/>
        <valUSD>1954593.29000000</valUSD>
        <pctVal>0.940463749139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAGYAR TELEKOM TELECOMMU /HUF/</name>
        <lei>N/A</lei>
        <title>MAGYAR TELEKOM TELECOMMUNICA /HUF/ 0.00000000</title>
        <cusip>X5187V109</cusip>
        <identifiers>
          <isin value="HU0000073507"/>
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        <balance>909194.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HUF" exchangeRt="304.75000000"/>
        <valUSD>1354467.85000000</valUSD>
        <pctVal>0.651709958699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAGNIT  PJSC-SPON GDR REGS</name>
        <lei>2534009KKPTVL99W2Y12</lei>
        <title>MAGNIT  PJSC-SPON GDR REGS REG S 0.00000000</title>
        <cusip>55953Q202</cusip>
        <identifiers>
          <isin value="US55953Q2021"/>
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        <balance>449550.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6113880.00000000</valUSD>
        <pctVal>2.941728356486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROSNEFT OIL CO PJSC-REGS GDR</name>
        <lei>N/A</lei>
        <title>ROSNEFT OIL CO PJSC-REGS GDR REG S 0.00000000</title>
        <cusip>67812M207</cusip>
        <identifiers>
          <isin value="US67812M2070"/>
        </identifiers>
        <balance>612997.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4593799.52000000</valUSD>
        <pctVal>2.210332932932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAGNITOGORS-SPON GDR REGS</name>
        <lei>N/A</lei>
        <title>MAGNITOGORS-SPON GDR REG REG S 0.00000000</title>
        <cusip>559189204</cusip>
        <identifiers>
          <isin value="US5591892048"/>
        </identifiers>
        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PURCARI WINERIES PLC /RON/</name>
        <lei>N/A</lei>
        <title>PURCARI WINERIES PLC /RON/ REG S 0.00000000</title>
        <cusip>M8177D107</cusip>
        <identifiers>
          <isin value="CY0107600716"/>
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        <balance>555000.00000000</balance>
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        <assetCat>EC</assetCat>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RICHTER GEDEON NYRT /HUF/</name>
        <lei>549300J6ZJW5IH4WEE46</lei>
        <title>RICHTER GEDEON NYRT /HUF/ 0.00000000</title>
        <cusip>X3124S107</cusip>
        <identifiers>
          <isin value="HU0000123096"/>
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        <assetCat>EC</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>CCC SA /PLN/</name>
        <lei>259400NWPQ2HCSMZP970</lei>
        <title>CCC SA /PLN/ 0.00000000</title>
        <cusip>X5818P109</cusip>
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          <isin value="PLCCC0000016"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SBERBANK PJSC -SPONSORED ADR</name>
        <lei>N/A</lei>
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          <isin value="US80585Y3080"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>POLYMETAL INTERNATIONAL  /GBP/</name>
        <lei>213800JKJ5HJWYS4GR61</lei>
        <title>POLYMETAL INTERNATIONAL PLC /GBP/ 0.00000000</title>
        <cusip>G7179S101</cusip>
        <identifiers>
          <isin value="JE00B6T5S470"/>
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        <balance>140000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75866777"/>
        <valUSD>2373107.24000000</valUSD>
        <pctVal>1.141834131662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CY</invCountry>

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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CEZ AS /CZK/</name>
        <lei>N/A</lei>
        <title>CEZ AS /CZK/ 0.00000000</title>
        <cusip>X2337V121</cusip>
        <identifiers>
          <isin value="CZ0005112300"/>
        </identifiers>
        <balance>55000.00000000</balance>
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        <currencyConditional curCd="CZK" exchangeRt="22.73400000"/>
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      <invstOrSec>
        <name>ALROSA CO</name>
        <lei>N/A</lei>
        <title>ALROSA CO 0.00000000</title>
        <cusip>X0085A109</cusip>
        <identifiers>
          <isin value="RU0007252813"/>
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        <balance>870000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1091731.68000000</valUSD>
        <pctVal>0.525292946660</pctVal>
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        <name>ANADOLU EFES BIRACILIK V /TRY/</name>
        <lei>7890006LGARYVIPOJX03</lei>
        <title>ANADOLU EFES BIRACILIK VE /TRY/ 0.00000000</title>
        <cusip>M10225106</cusip>
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        <balance>21344.00000000</balance>
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        <currencyConditional curCd="TRY" exchangeRt="5.98590000"/>
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        <pctVal>0.042514130657</pctVal>
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        <invCountry>TR</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SURGUTNEFTEGAZ PREFERENCE</name>
        <lei>2138002GZLU65FRAC894</lei>
        <title>SURGUTNEFTEGAZ PREFERENCE 0.00000000</title>
        <cusip>X8799U113</cusip>
        <identifiers>
          <isin value="RU0009029524"/>
        </identifiers>
        <balance>6600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3728498.40000000</valUSD>
        <pctVal>1.793988346253</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRUPA LOTOS SA /PLN/</name>
        <lei>N/A</lei>
        <title>GRUPA LOTOS SA /PLN/ 0.00000000</title>
        <cusip>X32440103</cusip>
        <identifiers>
          <isin value="PLLOTOS00025"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.87980000"/>
        <valUSD>1983091.91000000</valUSD>
        <pctVal>0.954176023272</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isLoanByFund>N</isLoanByFund>
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        <name>CD PROJEKT SA /PLN/</name>
        <lei>259400TYO5Q8SH8TL437</lei>
        <title>CD PROJEKT SA /PLN/ 0.00000000</title>
        <cusip>X6002X106</cusip>
        <identifiers>
          <isin value="PLOPTTC00011"/>
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        <balance>15000.00000000</balance>
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        <pctVal>0.523841891663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
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        <name>DETSKY MIR PJSC</name>
        <lei>N/A</lei>
        <title>DETSKY MIR PJSC 0.00000000</title>
        <cusip>X1810L113</cusip>
        <identifiers>
          <isin value="RU000A0JSQ90"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1799995.00000000</valUSD>
        <pctVal>0.866077897020</pctVal>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>POLYUS PJSC-REG S-GDR</name>
        <lei>N/A</lei>
        <title>POLYUS PJSC-REG S-GDR REG S 0.00000000</title>
        <cusip>73181M117</cusip>
        <identifiers>
          <isin value="US73181M1172"/>
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        <balance>51859.00000000</balance>
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        <valUSD>3168584.90000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>KRUK SA /PLN/</name>
        <lei>259400T1FZYBIW8XUJ78</lei>
        <title>KRUK SA /PLN/ 0.00000000</title>
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        <name>OTP BANK PLC /HUF/</name>
        <lei>529900W3MOO00A18X956</lei>
        <title>OTP BANK PLC /HUF/ 0.00000000</title>
        <cusip>X60746181</cusip>
        <identifiers>
          <isin value="HU0000061726"/>
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    <signature>
      <ncom:dateSigned>2020-02-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Central and Eastern Europe Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally </ncom:signature>
      <ncom:signerName>Diane Kenneally </ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer </ncom:title>
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<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>dws-1981_cee.htm
<DESCRIPTION>SOI FOR CEE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">The Central and Eastern Europe Fund, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 15pc; vertical-align: bottom">Schedule of Investments</TD>
    <TD STYLE="text-align: right; padding-left: 10pt; text-indent: -10pt; vertical-align: bottom">as of January 31, 2020 (Unaudited)</TD></TR>
</TABLE>




<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 74%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; text-align: right"><A NAME="a_hd_32c5463800d14f73b21e17bf132544f3"></A><FONT STYLE="font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; text-align: right"><A NAME="a_hd_1e449c95637e4faa91cc70d3fddd75ac"></A><FONT STYLE="font-size: 8pt"><B>Value ($)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Russia&nbsp;&nbsp;69.5%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt"><B>Common Stocks 67.7%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 12.9% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Sberbank of Russia PJSC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,400,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,470,626</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Sberbank of Russia PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,084,191</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,347,056</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>26,817,682</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Chemicals 0.0% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Phosagro PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,319</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>80,188</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Food &amp; Staples Retailing 2.9% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Magnit PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">449,550</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>6,113,880</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Interactive Media &amp; Services 1.5% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Mail.ru Group Ltd. (GDR) (Registered)*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">37,692</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">887,270</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Yandex NV ''A''*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,257,500</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>3,144,770</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Metals &amp; Mining 12.2% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Alrosa PJSC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">870,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,091,732</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Magnitogorsk Iron &amp; Steel Works PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">918,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">MMC Norilsk Nickel PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">315,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">10,181,050</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Novolipetsk Steel PJSC (GDR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">239,357</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,179,685</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Polymetal International PLC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">140,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,373,107</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Polyus PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">51,859</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,168,585</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Severstal PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">170,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,397,000</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>25,309,159</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Oil, Gas &amp; Consumable Fuels 34.2% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Gazprom PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,928,242</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">20,567,446</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Lukoil PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">272,500</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">27,669,650</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Novatek PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">44,440</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,999,200</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Rosneft Oil Co PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">612,997</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,593,800</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Tatneft PAO (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">140,548</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">10,154,880</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>70,984,976</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Professional Services 0.2% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">HeadHunter Group PLC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">21,074</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>444,451</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Specialty Retail 0.9% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Detsky Mir PJSC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,000,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,799,995</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Wireless Telecommunication Services 2.9% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Mobile Telesystems PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">590,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>6,020,950</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total Common Stocks </B>(Cost $79,201,251)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;140,716,051</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt"><B>Preferred Stocks 1.8%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Oil, Gas &amp; Consumable Fuels 1.8% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt">Surgutneftegas PJSC</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">6,600,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,728,498</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Total Preferred Stocks </B>(Cost $3,903,980)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;3,728,498</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Total Russia </B>(Cost $83,105,231)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;144,444,549</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Poland&nbsp;&nbsp;11.4%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 1.9% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Powszechna Kasa Oszczednosci Bank Polski SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">446,090</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,933,383</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Consumer Finance 0.8% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">KRUK SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">38,323</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,614,983</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Diversified Telecommunication Services 0.6% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Orange Polska SA*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">650,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,173,578</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Electric Utilities 0.2% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">PGE Polska Grupa Energetyczna SA*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">267,719</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>473,363</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Entertainment 0.5% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">CD Projekt SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,088,716</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Insurance 2.3% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Powszechny Zaklad Ubezpieczen SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">461,735</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>4,786,582</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Value ($)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Media 0.6% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Cyfrowy Polsat SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">185,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,296,974</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Oil, Gas &amp; Consumable Fuels 3.0% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Grupa Lotos SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,983,092</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Polski Koncern Naftowy ORLEN SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">166,392</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,244,811</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Polskie Gornictwo Naftowe i Gazownictwo SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,100,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,020,104</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>6,248,007</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Textiles, Apparel &amp; Luxury Goods 1.0% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">CCC SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">85,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>2,124,014</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Wireless Telecommunication Services 0.5% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">PLAY Communications SA 144A</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">115,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,055,802</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total Poland </B>(Cost $27,488,901)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;23,795,402</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Hungary&nbsp;&nbsp;8.7%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 3.4% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">OTP Bank PLC </FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">151,478</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>7,018,439</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Diversified Telecommunication Services 0.6% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Magyar Telekom Telecommunications PLC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">909,194</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,354,468</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Oil, Gas &amp; Consumable Fuels 2.6% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">MOL Hungarian Oil &amp; Gas PLC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">638,336</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>5,404,124</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Pharmaceuticals 2.1% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Richter Gedeon Nyrt</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">200,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>4,292,043</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total Hungary </B>(Cost $16,641,582)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;18,069,074</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Czech Republic&nbsp;&nbsp;3.4%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 2.8% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Komercni banka AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">65,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,240,147</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Moneta Money Bank AS 144A</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">981,988</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,595,958</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>5,836,105</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Electric Utilities 0.6% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">CEZ AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">55,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,204,803</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total Czech Republic </B>(Cost $7,845,137)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;7,040,908</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Moldova&nbsp;&nbsp;1.5%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Beverages 1.5% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Purcari Wineries PLC (Cost $2,547,425) </FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">555,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,021,125</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Turkey&nbsp;&nbsp;1.0%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Beverages 0.1% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Anadolu Efes Biracilik ve Malt Sanayii AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">21,344</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>88,359</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Diversified Financial Services 0.9% </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Haci Omer Sabanci Holding AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,200,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,954,593</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total Turkey </B>(Cost $2,220,389)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;2,042,952</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><A NAME="a_hd_7d42a564621a4d968a6c2dc15f015798"></A><FONT STYLE="font-size: 8pt"><B>Cash Equivalents</B></FONT><A NAME="a_hd_3acab5b797434053855b01b4bb84f4e7"></A><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;</B></FONT><A NAME="a_hd_175960c678294e70853743c2d614f7d4"></A><FONT STYLE="font-size: 8pt"><B>4.8%</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">DWS Central Cash Management Government Fund, 1.59% (Cost $9,902,735) (a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">9,902,735</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;9,902,735</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>% of Net </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Value ($)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Total Investment Portfolio</B> (Cost $149,751,400)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100.3</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>&#9;208,316,745</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Other Assets and Liabilities, Net</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.3)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(525,299)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Net Assets</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">100.0</FONT></TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;207,791,446</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">For information on the Fund&rsquo;s policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund&rsquo;s most recent semi-annual or annual financial statements.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">A summary of the Fund&rsquo;s transactions with affiliated investments during the period ended January 31, 2020 are as follows:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Value ($) at<BR>
 10/31/2019</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Purchases Cost<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Sales Proceeds<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Net <BR>
Realized<BR>
Gain/ <BR>
(Loss)<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Net<BR>
Change in<BR>
Unrealized<BR>
Appreciation/<BR>
(Depreciation)<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Income<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Capital<BR>
Gain<BR>
Distributions<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Number<BR>
of Shares<BR>
at<BR>
1/31/2020</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Value ($)<BR>
at<BR>
1/31/2020</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt"><B>Securities Lending Collateral 0.0%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt">DWS Government &amp; Agency Securities Portfolio &quot;DWS Government Cash Institutional Shares&quot;, 1.49% (a) (b)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt">1,269,196</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">1,269,196 </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;(c)&nbsp;&nbsp;&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">77</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt"><B>Cash Equivalents 4.8%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt">DWS Central Cash Management Government Fund, 1.59% (a)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt">3,951,927</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;22,460,508</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;16,509,700</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">22,362</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">9,902,735</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">9,902,735</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>5,221,123</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>22,460,508</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>17,778,896</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>&ndash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>&ndash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>22,439</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>&ndash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>9,902,735</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>9,902,735</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 8pt">Non-income producing security.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">(a)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">(b)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">(c)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended January 31, 2020.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 8pt">144A:</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-size: 8pt">Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">ADR</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">:</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">American Depositary Receipt</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">GDR</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">:</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Global Depositary Receipt</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">PJSC</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 8pt">Public Joint Stock Company</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">
        <P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For purposes of its industry concentration policy,
        the Fund classifies issuers of portfolio securities at the industry sub-group level. Certain of the categories in the above Schedule
        of Investments consist of multiple industry sub-groups or industries.</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt"><B>Fair Value Measurements</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Various inputs are used in determining the value of the Fund&rsquo;s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund&rsquo;s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk associated with investing in those securities.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt">The following is a summary of the inputs used as of January 31, 2020 in valuing the Fund&rsquo;s investments.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Level 1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Level 2</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Level 3</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Common Stocks and/or Other Equity Investments (d) </FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in; width: 40%"><FONT STYLE="font-size: 8pt">Russia</FONT></TD>
    <TD STYLE="padding-right: 0.05in; width: 3%"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_ec5683d9c474401a870120b9ce8e0245"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;144,444,549</FONT></TD>
    <TD STYLE="padding-right: 0.05in; width: 3%"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_90c0acb3dadf4b179228cc2952385d65"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in; width: 3%"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_7dcfdbd97634455eaa839e1f94873281"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in; width: 3%"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_b9cfb599a2d24b62ab7022acaf2c2b93"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;144,444,549</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Poland</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_256a735d28ac4e4fa411ae2f9260fa96"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">23,795,402</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_bedc9a0b1d874f249618881c92f860c9"></A>&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_0ed45e8d814542ea8ca44ac214322cad"></A>&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_16a546dc59b84cec92f6ea2895354170"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">23,795,402</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Hungary</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_f05a4e3cda2f420db454b5b95417052e"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">18,069,074</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_093948566b7c44f786a2a30428d4598c"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_fd724cb0ca214f91908ad04a5eb0f058"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_daa62a7cc9344c3a8a964c68b4d56024"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">18,069,074</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Czech Republic</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_3d24931fb9c540a1868e7e285f5f93a3"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">7,040,908</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_5acbdc9fa3324f709d215a2d735faf53"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_15b0c27c6e7e46228d526bafe0080ee1"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_b72016cde3434401bca4be88cb7cc25f"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">7,040,908</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Moldova</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_f46de806903e4b2f887e7af9439a3d1c"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">3,021,125</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_116d095189bf4665ac3850f3ea405e4d"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_3e5abcaee0824537bb3ad94b0c6b6288"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_77292eeb9d6f40e9b035b11536924b44"></A>&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;3,021,125</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Turkey</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_c971f1db47c14d1a98a57db3655a96b9"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">2,042,952</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_d52306d38f56491ca6152ef3150d5fad"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_e4ca6b5bdc53438794e7fe4cc5f2ef70"></A>&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_27fd8653f0c64d8cbc20541c12de8dd2"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">2,042,952</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.05in"><FONT STYLE="font-size: 8pt">Short-Term Instruments</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">9,902,735</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">9,902,735</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;<A NAME="a_hs_090ed53cf4054cfababf5a9e9d3b9539"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;208,316,745</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;<A NAME="a_hs_57ab2f7f082a4b73b90a06705e8531d5"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;&mdash;</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;<A NAME="a_hs_353d977af9ab4b898a5d0725fb9adfcb"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;&mdash;</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;<A NAME="a_hs_016081e9dcb74f2c907ea1f585c81c8d"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;208,316,745</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.05in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt">(d) See Schedule of Investments for additional detailed categorizations.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
</TABLE>


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