---

       T R O U B L E D   C O M P A N Y   R E P O R T E R

                          E U R O P E

          Monday, August 22, 2022, Vol. 23, No. 161

                           Headlines



A U S T R I A

ADDIKO BANK: Moody's Affirms 'Ba3' Long Term Deposit Ratings


C R O A T I A

FINVEST CORP: Fuduric Sells Entire Majority Share to Pan Parket
ULJANIK: Aug. 31 Calls for Expressions Interest Deadline Set


C Z E C H   R E P U B L I C

ENERGO-PRO AS: Fitch Affirms 'BB-' LT IDR, Alters Outlook to Stable


F R A N C E

EUTELSAT COMMUNICATIONS: Egan-Jones Retains BB+ Sr. Unsec. Ratings
IMERYS SA: Egan-Jones Retains BB+ Senior Unsecured Ratings
LAGARDERE SA: Egan-Jones Retains B Senior Unsecured Ratings
ORANGE SA: Egan-Jones Retains BB- Senior Unsecured Ratings
RENAULT SA: Egan-Jones Retains BB- Senior Unsecured Ratings

VALEO: Egan-Jones Retains BB- Senior Unsecured Ratings
VINCI SA: Egan-Jones Retains BB Senior Unsecured Ratings


G E O R G I A

LIBERTY BANK: Fitch Affirms LongTerm IDR at 'B+', Outlook Stable


G E R M A N Y

DEUTSCHE TELEKOM: Egan-Jones Retains BB Senior Unsecured Ratings
FORTUNA CONSUMER 2021: Fitch Affirms BBsf Rating on 2 Tranches


G R E E C E

NAVIOS MARITIME: Egan-Jones Withdraws CCC Senior Unsecured Ratings


I R E L A N D

BAIN CAPITAL 2022-2: Fitch Gives B-(EXP) Rating to Class F Debt
HARVEST CLO VII: Fitch Affirms 'B' Rating on Class F-R Debt
HARVEST CLO XIV: Fitch Hikes Rating on Class F Notes to 'BB+'
HARVEST CLO XIX: Fitch Hikes Rating on Class F Debt to B+sf


I T A L Y

ALI HOLDING: S&P Assigns 'BB+' Long-Term ICR, Outlook Stable
ERNA SRL: Moody's Lowers Rating on EUR18MM Class C Notes to Ba2


N E T H E R L A N D S

GROSVENOR PLACE 2015-1: Fitch Ups E-RR Notes Rating to 'BB-sf'
KONINKLIJKE KPN: Egan-Jones Retains BB Senior Unsecured Ratings


P O L A N D

BANK MILLENNIUM: Fitch Cuts LongTerm IDR to 'BB', Outlook Stable


R U S S I A

[*] Fitch Takes Actions on Aircraft ABS on Russia/Ukraine Exposure


S P A I N

EL CORTE INGLES: Fitch Affirms BB+ LongTerm IDR, Outlook Stable
SANTANDER HIPOTECARIO 3: Fitch Affirms Csf Ratings on 3 Tranches


S W I T Z E R L A N D

CREDIT SUISSE: Fitch Lowers Subordinated Debt Rating to BB+


U N I T E D   K I N G D O M

CINEWORLD: Mulls Large Capital Restructuring Amid Debt Woes
DJS UK: Administrators Expect to Settle Complaints by Month-End
EUROSAIL-UK 07-4BL: Fitch Hikes Rating on Class E1c Debt to CCCsf
HAMMERSON PLC: Egan-Jones Retains BB Senior Unsecured Ratings
HARVEST CLO XXIX: Fitch Assigns B-sf Rating to Class F Debt

P&O FERRIES: Insolvency Service Won't Launch Criminal Proceedings
PAYSAFE GROUP: Moody's Cuts CFR to B2 & Alters Outlook to Stable
SIG PLC: Egan-Jones Retains B+ Senior Unsecured Ratings
SPEEDCLAD: Enters Administration, 44 Jobs Affected
TESCO PLC: Egan-Jones Retains BB+ Senior Unsecured Ratings

TRAFFORD CENTRE: S&P Lowers Cl. D3 Notes Rating to 'BB (sf)'
WPP PLC: Egan-Jones Retains BB Senior Unsecured Ratings


X X X X X X X X

[*] BOND PRICING: For the Week August 15 to August 19, 2022

                           - - - - -


=============
A U S T R I A
=============

ADDIKO BANK: Moody's Affirms 'Ba3' Long Term Deposit Ratings
------------------------------------------------------------
Moody's Investors Service has affirmed Addiko Bank AG's long-term
deposit ratings at Ba3 and changed the outlook on these ratings to
positive from stable. Concurrently, the rating agency affirmed the
bank's long-term Counterparty Risk Ratings at Ba2, its Counterparty
Risk (CR) Assessment at Ba1(cr), and its Baseline Credit Assessment
(BCA) and Adjusted BCA at ba2.

RATINGS RATIONALE

AFFIRMATION OF BASELINE CREDIT ASSESSMENT

The affirmation of Addiko's BCA considers the bank's continuous
improvement in asset quality and concentration risks in the
challenging economic environment since the coronavirus outbreak,
accompanied by strengthening capitalization, as well as a very
solid funding profile. Moody's expects that the developments around
the bank's improved solvency and liquidity profile will be
sustained.

While the bank's financial metrics are overall trending towards a
standalone creditworthiness commensurate with a higher BCA, the
affirmation incorporates some remaining vulnerabilities as to the
stability of this trajectory, in particular the potential impact on
the bank's consumer lending portfolio on the back of rising
interest rates and higher energy prices, as well as the pending
uncertainties associated with legal risks in Slovenia for Swiss
franc-denominated loans. Also, the bank's profitability has so far
remained significantly below peers that operate a similar business
model with focus on unsecured consumer and SME lending.

Moody's believes that Addiko's risk-adjusted profitability will
benefit from the rising share of core lending activities and the
declining impact from legacy exposures. Addiko's profitability is
highly sensitive to the credit cycle in its South Eastern European
markets, and exhibits only moderate earnings retention, reflecting
its shareholder-friendly dividend strategy.

The BCA affirmation further considers Addiko's very solid funding,
underpinned by sizeable and diversified client deposits which
accounted for around 81% of consolidated assets at the end of March
2022. Moody's further believes that Addiko's operates with ample
liquid resources to comply with local regulatory requirements for
its consolidated bank subsidiaries.

AFFIRMATION OF DEPOSIT RATINGS

The affirmation of Addiko's long-term deposit ratings at Ba3
follows the affirmation of the bank's BCA and Adjusted BCA, as well
as the unchanged results of Moody's Advanced Loss Given Failure
(LGF) analysis, which takes into account the severity of loss in
resolution for different liability classes. For Addiko's deposit
ratings, the rating agency's LGF analysis continues to indicate a
high loss given failure, resulting in a one notch deduction from
the bank's ba2 Adjusted BCA. Moody's assessment continues to
incorporate an unchanged assumption of a low likelihood of
government support for deposits, because of the bank's small size
in the context of the Austrian banking sector.

OUTLOOK CHANGE TO POSITIVE

The positive outlook on the long-term deposit ratings reflects the
scenario that Addiko's solvency profile develops stronger than
anticipated by the rating agency, and thus could lead to an upgrade
of the bank's BCA.

In particular, an upgrade requires that Addiko achieves a
sustainably stronger profitability which is more commensurate with
its higher risk unsecured lending in South Eastern European
countries.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

An upgrade of Addiko's ratings could be prompted by a higher BCA or
a change in Addiko's liability structure that could prompt a better
result from Moody's Advanced LGF analysis, for example through
significantly higher volumes of institutional or junior deposits
and/or the issuance of senior (or junior senior) unsecured bonds.

Upward pressure on Addiko's BCA could be exerted if the bank's
macro profile were to improve, or if the bank were to develop a
track record of sustainably stronger profitability, while
continuing its divestments in non-core assets thereby improving its
asset quality without compromising its level of risk coverage and
improving its capitalisation.

A downgrade of Addiko's long-term ratings could be triggered
following a downgrade of the bank's ba2 BCA.

Downward pressure on Addiko's BCA could be exerted in the event of
a reversal of the positive trend in asset quality, which could be
triggered by a weakening of macroeconomic growth prospects in South
Eastern Europe; unexpected losses, including those from foreign
currency lending and pending legal cases, which may negatively
impact Addiko's capitalisation; and a significant deterioration in
its funding profile, including unexpected deposit outflows and a
decline in liquidity buffers.

LIST OF AFFECTED RATINGS

Issuer: Addiko Bank AG

Affirmations:

Long-term Counterparty Risk Assessment, affirmed Ba1(cr)

Short-term Counterparty Risk Assessment, affirmed NP(cr)

Long-term Counterparty Risk Ratings, affirmed Ba2

Short-term Counterparty Risk Ratings, affirmed NP

Long-term Bank Deposits, affirmed Ba3, outlook changed to Positive
from Stable

Short-term Bank Deposits, affirmed NP

Baseline Credit Assessment, affirmed ba2

Adjusted Baseline Credit Assessment, affirmed ba2

Outlook changed to Positive from Stable

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Banks
Methodology published in July 2021.



=============
C R O A T I A
=============

FINVEST CORP: Fuduric Sells Entire Majority Share to Pan Parket
---------------------------------------------------------------
Annie Tsoneva at SeeNews reports that Croatian businessman Denis
Fuduric said he sold his entire majority share in wood processing
company Finvest Corp to local parquet flooring producer Pan Parket
for an undisclosed sum.

"I am proud that we managed to turn the company around, and bring
it from the edge of the bankruptcy to the (quite decent!)
profitability," SeeNews quotes Mr. Fuduric as saying on its
Linkedin profile.

Mr. Fuduric acquired the Cabar-based Finvest Corp. five years ago,
SeeNews recounts.

Following the deal, Mr. Fuduric stepped down as chairman of the
supervisory board of Finvest Corp., SeeNews states.  Pan Parket now
owns 70.77% of Finvest Corp., figures from the central depositary
agency showed on Aug. 16, SeeNews notes.

According to local business magazine Lider, Pan Parket bought Denis
Fuduric's 53.08% share in the company, and further 17.69% in it
from another businessman, Silvio Galic, SeeNews relays.

Finvest Corp ended last year with an HRK8.6 million net profit
(US$1.17 million/EUR1.15 million), SeeNews discloses.


ULJANIK: Aug. 31 Calls for Expressions Interest Deadline Set
------------------------------------------------------------
Annie Tsoneva at SeeNews reports that Croatian shipbuilder Uljanik,
which is undergoing a bankruptcy procedure, said it has announced a
public call for expressions of interest for purchase of its entire
88.27% stake in shipbuilding company 3. Maj Brodogradiliste.

According to SeeNews, Uljanik said on Aug. 17 the deadline for
submission of interest is 1400 local time on
Aug. 31.

Uljanik's stake in 3. Maj consists of 1,249,568 regular series A
shares, which are listed on the Zagreb bourse, and 350,000 regular
series B shares, which are not listed, SeeNews states.

Its equity capital is HRK181.2 million (US$25 million/EUR24
million), SeeNews discloses.

The Rijeka-based 3. Maj reported a net loss of HRK114.1 million for
2021, SeeNews relates.




===========================
C Z E C H   R E P U B L I C
===========================

ENERGO-PRO AS: Fitch Affirms 'BB-' LT IDR, Alters Outlook to Stable
-------------------------------------------------------------------
Fitch Ratings has revised ENERGO-PRO a.s.'s (EPas) Outlook to
Stable from Negative while affirming the company's Long-Term Issuer
Default Rating (IDR) at 'BB-'.

The Outlook change reflects the company's improved financial
performance and Fitch's expectation that funds from operations
(FFO) net leverage (adjusted for connection fees and guarantees)
will remain below our negative rating sensitivity of 5.5x over
2022-2025, although with limited rating headroom. Fitch expects
interest coverage to be under pressure from 2024 when the company
would need to refinance its maturing Eurobond, as cost of debt is
assumed to be higher.

The 'BB-' Long-Term IDR reflects EPas's small size and higher
cash-flow volatility relative to other rated European utilities',
foreign-exchange (FX) exposure, operating-environment risks and
key-person risk from ultimate ownership by one individual.
Positively, it incorporates a high share of regulated activities,
supportive regulatory regimes for networks in Georgia and Bulgaria,
and some geographic and business diversification.

KEY RATING DRIVERS

Strong Performance: EPas's EBITDA reached EUR200 million in 2021
(Fitch-calculated, up 91% yoy), as tariffs under the new regulatory
period in Georgia included full compensation for under-performance
in the previous regulatory period, and high merchant prices, which
more than offset weak hydrology in Turkiye. In 1Q22, EBITDA rose
50% yoy to EUR60 million on high energy prices.

EBITDA to Normalise: Fitch assumes EBITDA to stabilise at EUR155
million-EUR175 million over 2023-2025. Fitch's forecast assumes
normalised merchant prices from 2023, lower distribution tariffs
from 2024 in Georgia as compensations for previous-period
under-performance will end, and continued weakening of the Turkish
lira. This will be balanced by the positive effect of hydro power
plants (HPP) liberalisation in Georgia and improved hydrology in
Turkiye.

Improved Leverage: Fitch said, "We forecast EPas's FFO net leverage
(adjusted for connection fees and guarantees) to remain below our
negative rating sensitivity of 5.5x over 2022-2025. FFO net
leverage (adjusted for connection fees and guarantees) improved to
3.7x in 2021 from 8.8x in 2020 on strong 2021 EBITDA performance."

Normalised Price Assumptions: Fitch said, "Starting from 2023, our
rating case assumes merchant prices to decline from current high
levels to around EUR75/MWh-EUR80/MWh for Bulgaria and to around
EUR60/MWh for Turkiye. This supports our view that prices are
unlikely to be sustainable in the long term and makes our ratings
resilient to electricity price caps (as is the case in Turkiye) and
the risk of imposition of windfall taxes on generation-company
(genco) profits."

Coverage Under Pressure: EPas's cost of debt is rising. It
refinanced a 4% EUR370 million bond issued in 2017 with a new
USD435 million bond at 8.5% in February 2022. Fitch forecasts
interest coverage to come under pressure from 2024 when the company
has to refinance another EUR250 million 4.5% Eurobond.

Working-Capital Outflow: Peculiarities of the compensation
mechanism for distribution and supply companies in Bulgaria and
deduction of daily advance payments of distribution companies in
Turkiye, which are proportionally passed onto gencos selling on
EPIAS, will have a negative effect on EPas's working capital in
2022, partially offsetting its strong EBITDA performance. Prolonged
periods of delayed payments may lead to additional liquidity needs
and affect its leverage trajectory, which however is not Fitch's
base case.

Decreasing Share of Regulated Businesses: EPas's EBITDA is
dominated by regulated and quasi-regulated activities (64% in 2021,
down from 89% in 2017, based on company estimates). Fitch said, "We
expect this share to continue to fall, but at a slower pace, as the
business mix will further shift towards market-based activities,
following gradual HPP liberalisation in Georgia, and the expiry of
reference-price-plus-premium mechanism in Bulgaria over 2024-2025.
These developments have a mixed financial effect. We may tighten
our rating sensitivities if we see a material decrease in cash flow
predictability."

Volatile EBITDA: EPas's Fitch-calculated EBITDA ranged between
EUR96 million and EUR200 million in 2016-2021, due to variable
hydro generation and less consistent application of the regulatory
frameworks in Georgia and Bulgaria compared with that in developed
markets, leading to tariff changes and working-capital swings. In
Fitch's view, EBITDA volatility will continue over 2022-2025,
mainly on the back of energy price fluctuations, FX movements and
less mature regulatory frameworks in the markets of operations.

FX Mismatch: EPas remains subject to FX fluctuations, as its debt
at end-1Q22, which consisted mainly of Eurobonds, was euro- and
dollar-denominated. This is in contrast to its local-currency
denominated revenue, although the Bulgarian leva is pegged to the
euro. EPas does not use hedging instruments, other than holding
some cash in foreign currencies.

Shareholder Distributions Flexible: EPas distributed on average
around EUR30 million annually over 2018-2021. Fitch's rating case
includes distributions on average of EUR20 million annually in
2022-2025. EPas expects its dividends distributions to remain
flexible and subject to business needs.

Market Liberalisation in Georgia: In 2020, Georgia adopted the
electricity market model, under which electricity producers with
installed capacity below 120MW will gradually be relieved of
public-service obligation as they transition to market-based
principles. EPas expects its HPP to be gradually deregulated by
2027. Fitch expects this to have a positive financial effect as
market prices are materially higher than regulated ones, but
decrease cash flow predictability.

EPas has an ESG Relevance Score of '5' for group structure due to
guarantees in favour of its sister companies within the DK Holding
group, and shareholder distributions, which has a negative impact
on the credit profile, and is highly relevant to the rating.

DERIVATION SUMMARY

EPas benefits from a higher share of regulated activities in EBITDA
than Bulgarian Energy Holding EAD (BEH, BB/Positive, Standalone
Credit Profile (SCP) of 'b+') resulting in stronger cash flow
predictability, and a better carbon footprint, which is close to
zero. This is partially balanced by BEH's larger scale of
operations and higher integration across the electricity value
chain. Overall, this results in moderately higher debt capacity for
EPas.

EPas has a stronger business profile than Turkish power producers
Zorlu Yenilenebilir Enerji Anonim Sirketi (B-/Stable) and Aydem
Yenilenebilir Enerji Anonim Sirketi (B/Negative), due to a better
operating environment, integration into networks and geographical
diversification. EPas's financial profile is also moderately
stronger than that of Turkish peers.

EPas has greater geographic diversification and benefits from more
stable regulation and integration into networks than
Uzbekhydroenergo JSC (BB-/Stable, SCP 'b'), a hydro producer with a
monopoly in Uzbekistan rated at the same level as the Republic of
Uzbekistan (BB-/Stable), reflecting its strong links with the
state.

KEY ASSUMPTIONS

- Bulgarian, Georgian and Turkish GDP to increase annually 3%-
   4%, 4%-6%, 3%-5%, respectively, in 2022-2025

- Bulgarian, Georgian, and Turkish CPI on average at 6%, 9%,
   55%, respectively, over 2022-2025

- Electricity generation at about 2.5 TWh annually in 2022-2025

- Capex on average at about EUR80 million annually over 2022-
   2025, moderately below management forecast

- Distributions to shareholder on average at EUR20 million
   annually over in 2022-2025

- EUR/USD1.05, USD/TRY17-TRY23 and EUR/GEL3.3-GEL3.9 over 2022-
   2025

- Around EUR51 million guarantees included as off-balance-sheet
   obligations in 2022-2025

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

- Improved FFO net leverage (excluding connection fees and
  including group guarantees) to below 4.5x and FFO interest
  coverage (excluding connection fees) to above 4x on a sustained
  basis

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

- Higher distributions to shareholders and lower profitability
   and cash generation leading to FFO net leverage (excluding
   connection fees and including group guarantees) above 5.5x and
   FFO interest coverage (excluding connection fees) to below 3x
   on a sustained basis

- Significant weakening of the business profile with lower
   predictability of cash flows may lead to a tighter leverage
   sensitivity or a downgrade

LIQUIDITY AND DEBT STRUCTURE

Manageable Liquidity: EPas's liquidity improved following the issue
in February 2022 of an USD435 million Eurobond due 2027, which was
used to refinance its 2022 bond issue. At end-March 2022 EPas had
EUR29 million of cash and equivalents and EUR34 million available
under credit facilities (including a short-term facility EUR10
million) against short-term debt of EUR31 million. The next large
maturity is a EUR250 million Eurobond due in May 2024.

ISSUER PROFILE

EPas is a utility company headquartered in the Czech Republic with
operating companies in Bulgaria, Georgia and Turkiye. Its core
activities are power distribution to over 2.5 million customers,
grid support services and electricity generation at HPPs with a
total installed capacity of 749MW and a gas-fired plant of 110MW.

SUMMARY OF FINANCIAL ADJUSTMENTS

- Change in inventory, provisions, other income are excluded
   from EBITDA

- Guarantees of EUR48 million at end-2021 issued by EPas under
   loan agreements of its sister companies are treated as off-
   balance sheet obligations and included in debt ratios

- Net loans granted to shareholders were reclassified as
   dividends

ESG CONSIDERATIONS

EPas has an ESG Relevance Score of '5' for group structure due to
guarantees in favour of its sister companies within the DK Holding
group and shareholder distributions, which has a negative impact on
the credit profile, and is highly relevant to the rating.

EPas has an ESG Relevance Score of '4' for governance structure due
to the company being part of the larger DK Holding, which is
ultimately owned by one individual. This has a negative impact on
the credit profile, and is relevant to the ratings in conjunction
with other factors.

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.

                           Rating            Prior
                           ------            -----     
ENERGO-PRO a.s.

                   LT IDR    BB- Affirmed      BB-

                   ST IDR    B   Affirmed      B

                   LC LT IDR BB- Affirmed      BB-

                   LC ST IDR B   Affirmed      B

  senior unsecured LT        BB- Affirmed RR4  BB-




===========
F R A N C E
===========

EUTELSAT COMMUNICATIONS: Egan-Jones Retains BB+ Sr. Unsec. Ratings
------------------------------------------------------------------
Egan-Jones Ratings Company, on August 8, 2022, retained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Eutelsat Communications.

Headquartered Paris, France, Eutelsat Communications is a KU-band
satellite operator.


IMERYS SA: Egan-Jones Retains BB+ Senior Unsecured Ratings
----------------------------------------------------------
Egan-Jones Ratings Company, on August 8, 2022, retained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Imerys SA.

Headquartered in Paris, France, Imerys produces and distributes
chemicals, pigments, and additives.


LAGARDERE SA: Egan-Jones Retains B Senior Unsecured Ratings
-----------------------------------------------------------
Egan-Jones Ratings Company, on August 11, 2022, retained its 'B'
foreign currency and local currency senior unsecured ratings on
debt issued by Lagardere SA.

Headquartered in Paris, France, Lagardere SA operates as a media
company.


ORANGE SA: Egan-Jones Retains BB- Senior Unsecured Ratings
----------------------------------------------------------
Egan-Jones Ratings Company, on August 10, 2022, retained its 'BB-'
foreign currency and local currency senior unsecured ratings on
debt issued by Orange SA.

Headquartered in Paris, France, Orange SA provides
telecommunications services to residential, professional, and large
business customers.


RENAULT SA: Egan-Jones Retains BB- Senior Unsecured Ratings
-----------------------------------------------------------
Egan-Jones Ratings Company, on August 12, 2022, retained its 'BB-'
foreign currency and local currency senior unsecured ratings on
debt issued by Renault SA.

Headquartered in Boulogne-Billancourt, France, Renault designs,
manufactures, markets, and repairs passenger cars and light
commercial vehicles.


VALEO: Egan-Jones Retains BB- Senior Unsecured Ratings
------------------------------------------------------
Egan-Jones Ratings Company, on August 9, 2022, retained its 'BB-'
foreign currency and local currency senior unsecured ratings on
debt issued by Valeo.

Headquartered in Paris, France, Valeo designs and manufactures
automobile components.


VINCI SA: Egan-Jones Retains BB Senior Unsecured Ratings
--------------------------------------------------------
Egan-Jones Ratings Company, on August 11, 2022, retained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by VINCI SA.

Headquartered in Paris, France, VINCI SA is a global player in
concessions and construction with expertise in building, civil,
hydraulic, and electrical engineering.




=============
G E O R G I A
=============

LIBERTY BANK: Fitch Affirms LongTerm IDR at 'B+', Outlook Stable
----------------------------------------------------------------
Fitch Rating has affirmed JSC Liberty Bank's Long-Term Issuer
Default Rating (IDR) at 'B+' with a Stable Outlook. The bank's
Viability Rating (VR) has been affirmed at 'b+'.

Fitch has withdrawn Liberty's Support Rating and Support Rating
Floor as they are no longer relevant to the agency's coverage
following the publication of its updated Bank Rating Criteria on 12
November 2021. In line with the updated criteria, Fitch have
assigned Liberty Bank a Government Support Rating (GSR) of 'ns' (no
support).

KEY RATING DRIVERS

Liberty Bank's IDR of 'B+' is driven by the bank's standalone
profile, as captured by its 'b+' VR. The ratings reflect the bank's
reasonable profitability and asset quality metrics amid a strong
economic recovery in Georgia, notwithstanding the ongoing military
conflict in Ukraine. The VR also captures the bank's moderate
franchise, weaker pricing power than peers', and a high, albeit
declining, exposure to unsecured retail lending.

Improved Economic Growth Prospects: The military conflict in
Ukraine and subsequent sanctions on Russia have had a positive
impact on the Georgian economy in the form of inflows of capital,
remittances and qualified labour. These factors, coupled with
stable public consumption and positive net exports, have led Fitch
to revise up their GDP growth forecast to 10.9% in 2022, before
normalising to 5.3% in 2023. Fitch expects the boost to economic
activity to also support banking sector performance.

Focus on Retail: Liberty Bank is the third-largest bank in Georgia,
primarily focused on retail lending. The bank's market shares
amounted to 6.6% and 6.2% in household loans and deposits,
respectively, at end-1Q22. Liberty Bank acts as an exclusive agent
for pensions and welfare distributions, and its retail franchise is
supported by the broadest branch network in the country.

VTB's Portfolio Acquisition: In March 2022 Liberty Bank acquired a
GEL300 million portfolio of micro/SME loans from sanctioned JSC VTB
Bank Georgia. This was transferred along with a corresponding
amount of deposits and did not involve any cash contribution. The
resultant expansion of risk-weighted assets (RWAs) by 10% weakened
Liberty Bank's capital adequacy metrics, but the bank received
forbearance from the Georgian regulator, such that buffers on its
Tier 1 and total capital requirements have been lowered.

Dollarisation Below Market Average: The bank's focus on unsecured
retail lending has historically helped Liberty Bank to maintain one
of the lowest dollarisation levels on the Georgian market. At
end-1Q22 a moderate 22% of loans were issued in foreign currencies
(FC), compared with the sector average of 51%.

Asset Quality Reasonable: Impaired loans (Stage 3 under IFRS 9)
amounted to 5% of the portfolio at end-1Q22, down from 6% at
end-2021, helped by write-offs and loan book expansion. Impaired
loans were 1.2x covered by total loan loss allowances (LLAs) at
end-1Q22. Stage 2 loans declined to 6.6% at end-1Q22 from a peak
9.7% at end-2020. Rapid credit growth in 2020-1H22 could lead to
asset-quality risks as the portfolio seasons.

Recovering Profitability: The bank's performance metrics improved
in 2021 on the back of reduced loan impairment charges and waning
pressures from the pandemic. Operating profit recovered to 1.9% of
RWAs in 2021 from -0.4% in 2020 (on average 4% in 2017-2019). Fitch
expects inflationary pressure on Liberty Bank's operating expenses
to be offset by a healthy net interest margin, and therefore for
profitability to remain reasonable in 2022, despite a potential
moderate increase in the cost of risk.

Tight Regulatory Capital Buffers: Liberty Bank's regulatory common
equity Tier 1 (CET1), Tier 1 and total capital adequacy ratios
(CAR) stood at 10.1%, 10.3% and 13.8%, respectively, at end-1H22.
This compares with minimum requirements of 8%, 9.5% and 12.9%,
respectively, after these were lowered by 75bp (Tier 1) and 100bp
(total CAR) following forbearance. The bank's Fitch Core Capital
(FCC) ratio was a moderate 12.3% at end-1Q22. Fitch expects profit
retention to support capitalisation marginally above regulatory
requirements, as forbearance will be withdrawn at end-1Q23 and
prudential minimums will gradually increase until January 2024.

Stable Funding Profile: Liberty Bank is predominantly funded by
customer accounts (81% of liabilities at end-2021), about half of
which are sourced from individuals. Corporate deposits are largely
attracted from public and state-related entities (municipalities,
government bodies).

The bank's deposit franchise is supported by its wide branch
network, and by its pension and welfare distribution function.
Wholesale borrowing amounted to a further 17% of liabilities,
mainly short-term local-currency loans from National Bank of
Georgia (NBG).

Liquidity is adequate with highly liquid assets (cash, short-term
interbank and NBG placements, excluding obligatory reserves),
covering 20% of customer deposits at end-5M22.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- The IDR and VR could be downgraded if asset quality weakens
    with an impaired loans ratio above 10%, resulting in high risk
   
    costs and poor performance (operating profit/RWAs below 1%) on

    a sustained basis. Material deterioration in capitalisation,
    with the FCC ratio falling below 10%, could also result in a
    downgrade.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- An upgrade would require a material improvement in the
    Georgian operating environment, together with a strengthening
    of the bank's franchise and an extended record of reasonable
    performance.

VR ADJUSTMENTS

The operating environment score of 'bb-' is above the implied score
of 'b' due to following adjustment reasons: regulatory and legal
framework (positive) and reported and future metrics (positive).

The earnings and profitability score of 'b+' is below the implied
score of 'bb' due to following adjustment reason: revenue
diversification (negative).

RATING ACTIONS

ENTITY/DEBT       RATING                      PRIOR
-----------       ------                      -----
JSC Liberty Bank   LT IDR  B+   Affirmed       B+

                   ST IDR  B    Affirmed       B

                   Viability b+ Affirmed       b+

                   Support WD   Withdrawn      5

                   Support WD   Withdrawn      NF
                   Floor

                   Government ns New Rating
                   Support




=============
G E R M A N Y
=============

DEUTSCHE TELEKOM: Egan-Jones Retains BB Senior Unsecured Ratings
----------------------------------------------------------------
Egan-Jones Ratings Company, on August 10, 2022, retained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Deutsche Telekom AG.

Headquartered in Bonn, Germany, Deutsche Telekom AG offers
telecommunications services.


FORTUNA CONSUMER 2021: Fitch Affirms BBsf Rating on 2 Tranches
--------------------------------------------------------------
Fitch Ratings has upgraded Fortuna Consumer Loan ABS 2021 DAC's
class B to D notes and affirmed the other notes. The Outlooks are
Stable.

Fortuna Consumer Loan ABS 2021 DAC
  
A XS2387738573  LT AAAsf  Affirmed  AAAsf
B XS2387742682  LT AAAsf  Upgrade   AAsf
C XS2387744118  LT AAsf   Upgrade   Asf
D XS2387748531  LT A-sf   Upgrade   BBBsf
E XS2387749851  LT BBsf   Affirmed  BBsf
X XS2387750941  LT BBsf   Affirmed  BBsf

TRANSACTION SUMMARY

Fortuna Consumer Loan ABS 2021 Designated Activity Company is a
true-sale securitisation of a static pool of unsecured consumer
loans sold by auxmoney Investments Limited (not rated). The
securitised consumer loan receivables are derived from loan
agreements entered into between Sud-West-Kreditbank Finanzierung
GmbH (SWK, not rated) and individuals located in Germany and
brokered by auxmoney GmbH (auxmoney) via its online lending
platform.

KEY RATING DRIVERS

Deleveraging Drives Upgrades: Credit enhancement (CE) has increased
for all rated notes, due to sequential note amortisation and high
prepayment rates leading to quicker than expected deleveraging of
the notes. CE increases range from 3pp for the class E notes to
35pp for the class A notes. The pool factor is 55%. This is the
main driver of the upgrades.

Performance as Expected, Downside Risks Present: Observed defaults
and recoveries to date are broadly in line with Fitch's
expectations at 2.8% of the initial asset balance and 32% of the
defaulted amount, respectively. Monthly default rates (annualised)
average around 8%. Despite the performance being as expected to
date, Fitch notes that downside risks are higher than peers due to
a higher share of low-income borrowers in the pool whose ability to
service their debt may be more negatively affected by rising costs
of living.

There is an outstanding amount of EUR1.6 million on the principal
deficiency ledger (PDL) of the class F notes, which is primarily
driven by the class X notes' redemption ranking senior in the
waterfall to PDL F. Although a further built-up is likely over the
short term, we expect the outstanding PDL to reduce once the class
X notes are paid in full, even in case of a mild performance
deterioration because gross excess spread is still significant.

Remaining Life Defaults Reviewed: Fitch assumes a remaining life
default base case of 13.0% of outstanding assets, largely unchanged
from 12.8% previously. Fitch said, "This takes into account monthly
default rates observed to date, the shortened remaining weighted
average life of the portfolio from high repayment rates and our
macroeconomic outlook for Germany, which has deteriorated compared
with our analysis at closing in October 2021. Additionally, we
assume an increased outstanding PDL F amount in our modelling of
3.2% of outstanding assets (instead of 1.2% actual) to reflect that
some of the delinquent assets in the higher dunning level buckets 2
to 4 will ultimately default, and excess spread may be insufficient
to fully cure these as long as class X notes are outstanding."

Fitch has further increased its prepayment base case assumption to
26% from 24% previously due to higher than expected principal
repayment rates to date.

Servicing Continuity Risk Addressed: CreditConnect GmbH (not
rated), a subsidiary of auxmoney, is the servicer. Loancos GmbH
acts as back-up servicer from closing, reducing the risk of
servicing discontinuity. The back-up servicing agreement covers two
scenarios: one where CreditConnect is replaced; and one where
CreditConnect and SWK no longer perform their contractual duties.
The high level of standby arrangements combined with a liquidity
reserve reduce the risk of payment interruptions of senior expenses
and interest on the rated notes.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

The sensitivities illustrated below only describe the model-implied
impact of a change in one of the input variables.

Expected impact on the notes' ratings of increased defaults (class
A/B/C/D/E/X)

Increase default rate by 10%:
'AAAsf'/'AAAsf'/'AA-sf'/'BBB+sf'/'BBsf'/'BBsf'

Increase default rate by 25%:
'AAAsf'/'AAAsf'/'Asf'/'BBBsf'/'Bsf'/'Bsf'

Increase default rate by 50%:
'AAAsf'/'AAsf'/'A-sf'/'BBB-sf'/'CCCsf'/'CCCsf'

Expected impact on the notes' ratings of decreased recoveries
(class A/B/C/D/E/X)

Reduce recovery rates by 10%:
'AAAsf'/'AAAsf'/'AA-sf'/'A-sf'/'BBsf'/'BBsf'

Reduce recovery rates by 25%:
'AAAsf'/'AAAsf'/'AA-sf'/'BBB+sf'/'BBsf'/'BBsf'

Reduce recovery rates by 50%:
'AAAsf'/'AAAsf'/'AA-sf'/'BBB+sf'/'BB-sf'/'BB-sf'

Expected impact on the notes' ratings of increased defaults and
decreased recoveries (class A/B/C/D/E/X)

Increase default rates by 10% and decrease recovery rates by 10%:
'AAAsf'/'AAAsf'/'A+sf'/'BBB+sf'/'BBsf'/'BBsf'

Increase default rates by 25% and decrease recovery rates by 25%:
'AAAsf'/'AA+sf'/'Asf'/'BBB-sf'/'CCCsf'/'CCCsf'

Increase default rates by 50% and decrease recovery rates by 50%:
'AAAsf'/'AAsf'/'BBBsf'/'BB+sf'/'NRsf'/'NRsf'

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- Continued build-up of CE as the transaction deleverages or

-- Losses are lower than assumed.




===========
G R E E C E
===========

NAVIOS MARITIME: Egan-Jones Withdraws CCC Senior Unsecured Ratings
------------------------------------------------------------------
Egan-Jones Ratings Company, on August 8, 2022, withdrew its 'CCC'
foreign currency and local currency senior unsecured ratings on
debt issued by Navios Maritime Acquisition Corporation. EJR also
withdrew its 'C' rating on commercial paper issued by the Company.

Headquartered in Pireas, Greece, Navios Maritime Acquisition
Corporation is an owner and operator of tanker vessels. The Company
focuses in the transportation of petroleum products (clean and
dirty) and bulk liquid chemicals.




=============
I R E L A N D
=============

BAIN CAPITAL 2022-2: Fitch Gives B-(EXP) Rating to Class F Debt
---------------------------------------------------------------
Fitch Ratings has assigned Bain Capital Euro CLO 2022-2 DAC's notes
expected ratings.

Bain Euro CLO 2022-2 DAC

A            LT  AAA(EXP)sf  Expected Rating
B-1          LT  AA(EXP)sf   Expected Rating
B-2          LT  AA(EXP)sf   Expected Rating
C            LT  A(EXP)sf    Expected Rating
D            LT  BBB-(EXP)sf Expected Rating
E            LT  BB-(EXP)sf  Expected Rating
F (Unfunded) LT  B-(EXP)sf   Expected Rating

TRANSACTION SUMMARY

Bain Capital Euro CLO 2022-2 DAC (the issuer) is a securitisation
of mainly senior secured loans and secured senior bonds (at least
90%) with a component of senior unsecured, mezzanine, and
second-lien loans. Note proceeds will be used to fund a portfolio
with a target par of EUR400 million. The portfolio is actively
managed by Bain Capital Credit U.S. CLO Manager II, LP. The
collateralised loan obligation (CLO) has an approximately 4.4-year
reinvestment period and an approximately 8.5-year weighted average
life (WAL).

KEY RATING DRIVERS

Average Portfolio Credit Quality (Neutral): Fitch assesses the
average credit quality of obligors to be in the 'B'/'B-' category.
The Fitch weighted average rating factor (WARF) of the identified
portfolio is 24.77.

High Recovery Expectations (Positive): At least 90% of the
portfolio will comprise senior secured obligations. Fitch views the
recovery prospects for these assets as more favourable than for
second-lien, unsecured and mezzanine assets. The Fitch weighted
average recovery rate (WARR) of the identified portfolio is
62.36%.

Diversified Portfolio (Positive): The expected rating analysis is
based on a top 10 obligor limit at 26.5%, and a maximum fixed rate
asset limit at 10.0%. The transaction also includes various
concentration limits, including the maximum exposure to the three
largest (Fitch-defined) industries in the portfolio at 40%. These
covenants ensure the asset portfolio will not be exposed to
excessive concentration.

Portfolio Management (Neutral): The transaction has an
approximately 4.4-year reinvestment period and includes
reinvestment criteria similar to those of other European
transactions. Fitch's analysis is based on a stressed-case
portfolio with the aim of testing the robustness of the transaction
structure against its covenants and portfolio guidelines.

Cash Flow Modelling (Positive): The WAL used for the transaction's
matrix and stress portfolio analysis is 12 months less than the WAL
covenant at the issue date. This reduction to the risk horizon
accounts for the strict reinvestment conditions envisaged by the
transaction after its reinvestment period. These include, among
others, passing both the coverage tests and the Fitch WARF test
post reinvestment as well as a WAL covenant that progressively
steps down over time, both before and after the end of the
reinvestment period. This ultimately reduces the maximum possible
risk horizon of the portfolio when combined with loan pre-payment
expectations.

Class F Delayed Issuance: At closing, the class F notes will be
issued with a pool factor (outstanding principal out of the
original balance) of zero and subscribed by the issuer for a zero
net cash price. The tranche can be sold at the option of the
subordinated noteholders at any time during the reinvestment period
only. Once sold the tranche will then be deemed to have a 100% pool
factor. In Fitch's view, the sale of the tranche would reduce
available excess spread to cure the reinvestment
over-collateralisation test by the class F interest amount.
Consequently, Fitch has modelled the deal assuming the tranche is
issued on the issue date to reflect the maximum stress the
transaction could withstand if that occurred.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

A 25% increase of the mean default rate (RDR) across all ratings
and a 25% decrease of the recovery rate across all ratings would
result in a downgrade of up to five notches.

Downgrades may occur if the build-up of credit enhancement
following amortisation does not compensate for a larger loss
expectation than initially assumed due to unexpectedly high levels
of defaults and portfolio deterioration.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

A 25% reduction of the RDR across all ratings and a 25% increase in
the RRR across all ratings would result in upgrades of up to three
notches across the structure except for 'AAAsf' rated notes, which
are already at the highest rating on Fitch's scale and cannot be
upgraded.

After the end of the reinvestment period, upgrades may occur on
better-than-expected portfolio credit quality and deal performance,
leading to higher credit enhancement and excess spread available to
cover for losses in the remaining portfolio.


HARVEST CLO VII: Fitch Affirms 'B' Rating on Class F-R Debt
-----------------------------------------------------------
Fitch Ratings has affirmed Harvest CLO VII DAC's notes.

RATING ACTIONS

ENTITY/DEBT         RATING                   PRIOR
-----------         ------                   -----
Harvest CLO VII DAC

A-R XS1533919988   LT  AAAsf  Affirmed       AAAsf

B-R XS1533919392   LT  AAAsf  Affirmed       AAAsf

C-R XS1533918238   LT  A+sf   Affirmed       A+sf

D-R XS1533916455   LT  A-sf   Affirmed       A-sf

E-R XS1533917263   LT  BB+sf  Affirmed       BB+sf

F-R XS1533919475   LT  Bsf    Affirmed       Bsf

TRANSACTION SUMMARY

Harvest CLO VII DAC is a cash flow CLO mostly comprising senior
secured obligations. The portfolio is managed by Investcorp Credit
Management EU Limited and its reinvestment period ended in April
2021.

KEY RATING DRIVERS

Transaction Outside Reinvestment Period: The transaction exited its
reinvestment period in April 2021 and the manager is unlikely to
reinvest unscheduled principal proceeds and sale proceeds from
credit- risk and credit-improved obligations due to the breach of
several collateral-quality tests as per the investor report dated
30 June 2022.

Any subsequent reinvestment will be subject to the weighted average
life (WAL) and Fitch-calculated weighted average rating factor
(WARF) tests, which Fitch deems unlikely to be satisfied due to a
decreasing WAL covenant. The trade date principal cash balance was
EUR1.27 million as of the June 30 investor report after the class X
notes were paid in full and the class A notes were repaid by EUR80
million since the exit of the reinvestment period. Since the last
review as of November 2021, a further EUR63.9 million of the class
A notes have been repaid.

Given the manager is unlikely to reinvest, Fitch has assessed the
transaction by notching down one level of all assets in the current
portfolio with Fitch-derived ratings (FDR) on Negative Outlook.

The Stable Outlooks on all notes reflect Fitch's expectation that
deleveraging of the notes would be limited in the next 12-18
months, given the small portion of assets maturing by 2023 and
limited prepayment expectation in the current uncertain
macroeconomic environment.

Stable Asset Performance: The transaction's metrics indicate stable
asset performance, which has led to the affirmations of all notes.
The transaction is currently 3.63% below par and it is passing all
collateral-quality, coverage and portfolio-profile tests except the
single obligor, 10-largest obligor and Fitch-defined industry
concentration limits due to an amortising portfolio. The
transaction has also continued to fail its minimum WA average
spread, maximum WARF, minimum WA recovery rate (WARR) and WAL tests
since the last review, which is not unexpected at this stage of the
transaction. Exposure to assets with FDRs of 'CCC+' and below is
5.95% as calculated by the trustee. The portfolio has one defaulted
asset.

'B'/'B-' Portfolio: Fitch assesses the average credit quality of
the obligors at 'B'/'B-'. The Fitch-calculated WARF of the current
portfolio was 25.6 and based on the Outlook Negative notching
stress was 26.7.

High Recovery Expectations: Senior secured obligations comprise
99.41% of the portfolio. Fitch views the recovery prospects for
these assets as more favourable than for second-lien, unsecured and
mezzanine assets. The Fitch-calculated WARR of the current
portfolio as reported by the trustee was 61.7%.

Diversified Portfolio: The portfolio is well-diversified across
obligors, countries and industries. The top- 10 obligor
concentration is 22.33%, and no obligor represents more than 3.02%
of the portfolio balance.

Cash Flow Modelling: Fitch used a customised proprietary cash flow
model to replicate the principal and interest waterfalls and the
various structural features of the transaction, and to assess their
effectiveness, including the structural protection provided by
excess spread diverted through the par- value and interest-coverage
tests.

Deviation from Model-implied Rating: The class D notes have been
affirmed at 'A-sf', which is a deviation from model-implied rating
(MIR) of 'A+sf', reflecting their limited cushion within the
Negative Outlook portfolio at their MIR.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- An increase of the default rate (RDR) at all rating levels by
    25% of the mean RDR and a decrease of the recovery rate (RRR)
    by 25% at all rating levels will result in downgrades of no
    more than three notches depending on the notes.

While not Fitch's base case, downgrades may occur if build-up of
the notes' credit enhancement following amortisation does not
compensate for a larger loss expectation than initially assumed,
due to unexpectedly high levels of defaults and portfolio
deterioration.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- A reduction of the RDR at all rating levels by 25% of the mean

    RDR and an increase in the RRR by 25% at all rating levels
    would result in upgrades of up to four notches depending on
    the notes except for the class A-1 notes, which are already at

    the highest rating on Fitch's scale and cannot be upgraded.

Further upgrades except for the class A-1 notes may occur if the
portfolio's quality remains stable and notes start to amortise,
leading to higher credit enhancement across the structure.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Structured Finance
transactions have a best-case rating upgrade scenario (defined as
the 99th percentile of rating transitions, measured in a positive
direction) of seven notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of seven notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAAsf' to 'Dsf'. Best- and worst-case scenario credit ratings
are based on historical performance.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset pool
and the transaction. Fitch has not reviewed the results of any
third-party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

The majority of the underlying assets or risk-presenting entities
have ratings or credit opinions from Fitch and/or other nationally
recognised statistical rating organisations and/or European
securities and markets authority-registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information or information on the risk-presenting entities.

Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.


HARVEST CLO XIV: Fitch Hikes Rating on Class F Notes to 'BB+'
-------------------------------------------------------------
Fitch Ratings has upgraded Harvest CLO XIV DAC's class E and F
notes and affirmed the rest as detailed below.

RATING ACTIONS

ENTITY/DEBT            RATING                   PRIOR
-----------            ------                   -----
Harvest CLO
XIV DAC

A-1A-R XS1700423798    LT  AAAsf   Affirmed     AAAsf

A-2-R XS1700424333     LT  AAAsf   Affirmed     AAAsf

B1-R XS1700425066      LT  AAAsf   Affirmed     AAAsf

B2-R XS1700425736      LT  AAAsf   Affirmed     AAAsf

C-R XS1700426387       LT  AAAsf   Affirmed     AAAsf

D-R XS1700426973       LT  A+sf    Affirmed     A+sf

E-R XS1700427518       LT  BBB+sf  Upgrade      BBB-sf

F XS1299708716         LT  BB+sf   Upgrade      BBsf

TRANSACTION SUMMARY

Harvest CLO XIV DAC is a cash flow CLO mostly comprising senior
secured obligations. The portfolio is managed by Investcorp Credit
Management EU Limited and its reinvestment period ended in November
2019.

KEY RATING DRIVERS

Transaction Outside Reinvestment Period: The transaction exited its
reinvestment period in November 2019 and the manager is unlikely to
reinvest unscheduled principal proceeds and sale proceeds from
credit- risk and credit-improved obligations due to the breach of
several collateral-quality and Fitch 'CCC' tests per the investor
report dated June 30, 2022.

Any subsequent reinvestment will be subject to the weighted average
life (WAL), Fitch-calculated weighted average rating factor (WARF)
and the Fitch 'CCC' test, which we deem unlikely to be satisfied
due to a decreasing WAL covenant.

The trade date principal cash balance was EUR1.28 million as of the
June 30, 2022 investor report after the class A-1 and A-2 notes
were repaid by EUR193.1 million and EUR4 million, respectively.
This included repayment of EUR49.9 million of the class A-1 and
EUR1 million of the class A-2 notes since the last review in
October 2021. As a result, credit enhancement has increased across
the structure.

Given the manager is unlikely to reinvest, Fitch has assessed the
transaction by notching down one level all assets in the current
portfolio with Fitch-derived ratings (FDR) on Negative Outlook.

The Stable Outlooks on all notes reflect Fitch's expectation that
deleveraging of the notes would be limited in the next 12-18
months, given the small portion of assets maturing by 2023 and
limited prepayment expectation in the current uncertain
macroeconomic environment.

Stable Asset Performance: The transaction's metrics indicate stable
asset performance, which together with increased credit
enhancement, led to today's rating actions. The transaction is
currently 1.32% below par but is passing all collateral-quality,
coverage and portfolio-profile tests except the 10-largest obligor,
Fitch 'CCC' obligations and three-largest Fitch-defined industries
limits.

The transaction continues to fail its minimum WA spread, maximum
WARF and WAL tests since the last review, which is not unexpected
at this stage of the transaction. Exposure to assets with FDRs of
'CCC+' and below is 11.54% as calculated by the trustee. The
portfolio has no defaulted assets.

'B'/'B-' Portfolio: Fitch assesses the average credit quality of
the obligors at 'B'/'B-'. The Fitch-calculated WARF of the current
portfolio was 26.36 and based on the Outlook Negative notching
stress was 27.49.

High Recovery Expectations: Senior secured obligations comprise
98.32% of the portfolio. Fitch views the recovery prospects for
these assets as more favourable than for second-lien, unsecured and
mezzanine assets. The Fitch-calculated weighted average recovery
rate (WARR) of the current portfolio as reported by the trustee was
60.3%.

Diversified Portfolio: The portfolio is well-diversified across
obligors, countries and industries. The top- 10 obligor
concentration is 23.42%, and no obligor represents more than 2.88%
of the portfolio balance.

Cash Flow Modelling: Fitch used a customised proprietary cash flow
model to replicate the principal and interest waterfalls and the
various structural features of the transaction, and to assess their
effectiveness, including the structural protection provided by
excess spread diverted through the par- value and interest-coverage
tests.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- An increase of the default rate (RDR) at all rating levels by
    25% of the mean RDR and a decrease of the recovery rate (RRR)
    by 25% at all rating levels will result in downgrades of no
    more than four notches depending on the notes.

While not Fitch's base case, downgrades may occur if build-up of
the notes' credit enhancement following amortisation does not
compensate for a larger loss expectation than initially assumed,
due to unexpectedly high levels of defaults and portfolio
deterioration.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- A reduction of the RDR at all rating levels by 25% of the mean

    RDR and an increase in the RRR by 25% at all rating levels
    would result in upgrades of up to three notches depending on
    the notes except for the class A-1 notes, which are already   

    the highest rating on Fitch's scale and cannot be upgraded.

Further upgrades except for the class A-1 notes may occur if the
portfolio's quality remains stable and notes start to amortise,
leading to higher credit enhancement across the structure.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Structured Finance
transactions have a best-case rating upgrade scenario (defined as
the 99th percentile of rating transitions, measured in a positive
direction) of seven notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of seven notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAAsf' to 'Dsf'. Best- and worst-case scenario credit ratings
are based on historical performance.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset pool
and the transaction. Fitch has not reviewed the results of any
third-party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

The majority of the underlying assets or risk-presenting entities
have ratings or credit opinions from Fitch and/or other nationally
recognised statistical rating organisations and/or European
securities and markets authority-registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information or information on the risk-presenting entities.

Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.


HARVEST CLO XIX: Fitch Hikes Rating on Class F Debt to B+sf
-----------------------------------------------------------
Fitch Ratings has upgraded Harvest CLO XIX DAC's class D and F
notes and affirmed the others.

                      Rating          Prior
                      ------          -----

Harvest CLO XIX DAC

A XS1802400983   LT  AAAsf   Affirmed  AAAsf
B1 XS1802401106  LT  AAsf    Affirmed  AAsf
B2 XS1802401528  LT  AAsf    Affirmed  AAsf
C XS1802401957   LT  Asf     Affirmed  Asf
D XS1802402252   LT  BBB+sf  Upgrade   BBBsf
E XS1802402765   LT  BB+sf   Affirmed  BB+sf
F XS1802402500   LT  B+sf    Upgrade   B-sf

TRANSACTION SUMMARY

Harvest CLO XIX DAC is a cash flow CLO mostly comprising senior
secured obligations. The portfolio is managed by Investcorp Credit
Management EU Limited and the reinvestment period ended in July
2022.

KEY RATING DRIVERS

Transaction Outside Reinvestment Period: The transaction exited its
reinvestment period in July 2022 but the manager is able to
reinvest unscheduled principal proceeds and sale proceeds from
credit-risk obligations and credit-improved obligations. The trade
date principal cash balance was EUR1.8 million as of the 05 July
investor report and no repayments have occurred yet on the rated
notes.

Given the manager's flexibility to reinvest, Fitch analysis is
based on a stressed portfolio where the weighted average rating
factor (WARF), weighted average recovery rate (WARR), weighted
average spread (WAS), weighted average life (WAL) and fixed-rate
exposure have been stressed to their current limits. Fitch's
stressed portfolio is based on a WAL of 4.4 years. The shorter WAL
covenant incorporated in Fitch stressed portfolio analysis compared
with previous reviews, together with the transaction's good
performance to date led to the upgrade of the class D and F notes
and affirmation of the class A to C and E notes.

The Stable Outlooks on all notes reflect Fitch's expectation of
sufficient credit protection to withstand potential deterioration
in the credit quality of the portfolio in stress scenarios at their
current ratings.

Stable Asset Performance: The transaction's metrics indicate stable
asset performance. The transaction is currently 0.57% below par and
is passing all collateral quality tests, coverage and portfolio
profile tests. Exposure to assets with a Fitch-derived rating of
'CCC+' and below is 5.91% as calculated by the trustee. These are
no defaulted assets in the portfolio.

'B'/'B-' Portfolio: Fitch assesses the average credit quality of
the obligors at 'B'/'B-'. The Fitch-calculated weighted WARF of the
current portfolio reported by the trustee was 25.31 as of 05 July
2022 compared with a maximum of 28.00.

High Recovery Expectations: Senior secured obligations comprise
98.11% of the portfolio. Fitch views the recovery prospects for
these assets as more favourable than for second-lien, unsecured and
mezzanine assets. The Fitch-calculated WARR of the current
portfolio reported by the trustee was 62.4% as of 05 July 2022,
compared with a minimum of 55.4%.

Diversified Portfolio: The portfolio is well-diversified across
obligors, countries and industries. The top 10 obligor
concentration is 14.85%, and no obligor represents more than 2.07%
of the portfolio balance.

Cash Flow Modelling: Fitch used a customised proprietary cash flow
model to replicate the principal and interest waterfalls and the
various structural features of the transaction, and to assess their
effectiveness, including the structural protection provided by
excess spread diverted through the par- value and interest-coverage
tests.

Deviation from Model-implied Rating: The class C notes have been
affirmed at 'Asf', which is a deviation from the model-implied
rating (MIR) of 'A+sf'. The one-notch negative deviation reflects
the limited cushion on the stressed portfolio at MIR.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

An increase of the default rate (RDR) at all rating levels by 25%
of the mean RDR and a decrease of the recovery rate (RRR) by 25% at
all rating levels would result in downgrades of no more than four
notches depending on the notes. While not Fitch's base case,
downgrades may occur if build-up of the notes' credit enhancement
following amortisation does not compensate for a larger loss
expectation than initially assumed due to unexpectedly high levels
of defaults and portfolio deterioration.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

A reduction of the RDR at all rating levels by 25% of the mean RDR
and an increase in the RRR by 25% at all rating levels would result
in upgrades of up to three notches depending on the notes, except
for the class A-1 notes, which are already at the highest rating on
Fitch's scale and cannot be upgraded. Upgrades may also occur if
the portfolio's quality remains stable and the notes continue to
amortise, leading to higher credit enhancement across the
structure.




=========
I T A L Y
=========

ALI HOLDING: S&P Assigns 'BB+' Long-Term ICR, Outlook Stable
------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' long-term issuer credit and
issue ratings to Italy-based food service equipment provider Ali
Holding S.r.l. and the company's term loan B.

The stable outlook reflects S&P's expectation that Ali will quickly
deleverage post-transaction, with debt to EBITDA reducing to about
4x at year-end 2022 and about 3x at year-end 2023.

Ali Holding acquired Welbilt Inc., a U.S.-based food service
manufacturer, for a total consideration of about $5.2 billion,
including excess cash, transaction costs, and fees.

The group issued a $1,250 million-equivalent term loan A, a $2,250
million term loan B, and a $250 million revolving credit facility
(RCF) via its subsidiaries to finance the transaction, which was
completed on July 28, 2022.

To facilitate the acquisition, Welbilt's Manitowoc Ice business was
sold to Pentair PLC for about $1.6 billion in cash.

With the acquisition of Welbilt, Ali becomes the clear leader in
the global food service equipment market and further strengthens
its product offering. Ali will increase its market share in the
global food service equipment market to about 10%. The acquisition
provides the group with increased exposure to North American end
markets. S&P views this favorably for Ali's revenue diversification
because it broadens its end market mix. In addition, Welbilt has
sizable exposure to the quick service restaurant industry, which
shows resilient growth prospects. Furthermore, incorporating
Welbilt's extensive product base enhances the group's
market-leading product portfolio, strengthening Ali's ability to
cross-sell and act as a one-stop shop for customers. Within the
food service industry, Ali's premium-status brands support the
group's business profile.

Ali's strong profitability is a key credit strength.Over 2016-2020,
Ali's EBITDA margin, as adjusted by S&P Global Ratings, averaged
19% and reached 20% before the onset of the COVID-19 pandemic. Over
the same five-year period, Welbilt's adjusted EBITDA margin
averaged a slightly lower 17.4%. In the 12 months to March 31,
2022, Ali's reported EBITDA margin was 20%, while Welbilt's was
about 15%, resulting in a combined pro-forma margin of about 18.6%.
Welbilt's S margin, as adjusted by S&P Global Ratings, has shown a
higher degree of volatility than Ali's, having steadily decreased
to 13.8% in 2020 from a high of 20% in 2017. In recent years,
elevated restructuring costs related to Welbilt's ongoing Business
Transformation Program (BTP) have constrained profitability. That
said, Welbilt incurred most of the related costs at the end of
second-quarter 2022, and target savings are expected to be achieved
by late 2022. S&P believes Welbilt's efforts will allow margins to
recover to a level on par with Ali Group's.
Ali has a solid track record of executing acquisitions, but the
relatively large Welbilt transaction carries some risk. Successful
mergers and acquisitions have been key to Ali's growth strategy.
Following the closing of the Welbilt transaction, the group will
boast a portfolio of nearly 100 brands and a broad product range
that is unmatched by competitors. Acquisitions, such as Scotsman
Industries ($585 million) in 2012 and Inter Metro ($418 million) in
2015, have highlighted Ali's successful execution track record.
Furthermore, Ali has demonstrated the capability to quickly
deleverage post-transaction, consistently returning to net cash
positions within years of material acquisitions. The Welbilt
transaction is significantly larger than Ali's past transactions,
bringing increased execution risk and much higher leverage.
Contrary to Ali, Welbilt currently has a more integrated corporate
business model for its 15 brands, while Ali's 80 brands operate
independently from each other.

Ali's concentration in the food service equipment market is a
credit quality constraint, in S&P's view. Ali's product portfolio
covers a range of sub-segments such as cooking, meal delivery, ice
makers, and refrigeration. However, the group's operations are
ultimately concentrated on the food service equipment market. This
market is highly competitive and fragmented, with the top 10
players holding less than 50%, and many local, niche competitors
make up the remaining share. Furthermore, compared with those of
other rated global capital goods peers, Ali's products are more
commoditized in nature, without the high technological content that
serves as a barrier to entry.

S&P said, "We have reviewed the final transaction documentation and
Ali's continued operating performance and deem both to be in line
with our base case. Ali raised $3.5 billion of debt to help fund
the transaction. A $750 million asset sale bridge loan facility,
originally included in our preliminary rating assessment, was not
used and expired at closing. This is because Ali closed the sale of
Welbilt's ice business for gross proceeds of about $1.6 billion
(about $1.2 billion net proceeds after taxes). Proceeds were higher
than we expected in our prior base case, and we assume this will
help Ali somewhat accelerate its deleveraging. In addition, Ali
used about $600 million of cash on hand to fund the $5.2 billion
acquisition (including Welbilt's financial debt, which was
refinanced). Ali currently has a fiscal year-end in August, and the
company reports in euros under Italian generally accepted
accounting principles. At the time of our preliminary rating
assessment, we understood that the company would switch its
reporting currency to U.S. dollars and move its fiscal year-end to
Dec. 31. However, Ali has opted to keep its fiscal year-end in
August and its reporting in euros. We deem this immaterial for the
rating decision. Current US$/EUR exchange rates result in a higher
nominal debt amount for Ali's U.S. dollar-denominated debt (the
term loan B). However, this is mitigated by incrementally higher
revenue generated in U.S. dollars. Following the acquisition of
Welbilt and the sale of its ice business, Ali expects to generate
about 48% of its revenue in the Americas and about 40% in EMEA,
with the remaining 12% stemming from APAC.

"Ali will continue to generate high FOCF, and we assume this will
be used to deleverage swiftly. On a stand-alone basis, Ali
continuously generated annual adjusted FOCF in excess of $250
million over the past five years. This yielded an adjusted
FOCF-to-sales ratio of 10%-13% over the same period. Ali's strong
cash flow is a key credit strength, supported by relatively low
capital expenditure (capex) requirements, which have averaged about
1.8% of sales over the past five years. Welbilt's cash flow profile
is somewhat weaker, with adjusted FOCF to sales fluctuating between
0%-10% over the same five years. Nonetheless, we expect the
consolidated group to generate adjusted FOCF of $380 million–$460
million in 2022 and about $0.5 billion in 2023. We adjust FOCF in
2022 to include transaction-related costs of about $140 million. We
anticipate in our base case that Ali will direct excess cash to
debt repayment and facilitate swift deleveraging.

"Uncertainties around the macroeconomic and geopolitical
environment cloud our forecast to 2023. We note that global
macroeconomic conditions remain highly uncertain, with muted growth
prospects both in the U.S. and Europe, where Ali generates most of
its revenue, in 2023. Knock-on effects from the Russia-Ukraine
conflict on agricultural commodities (particularly sunflower oil,
wheat, barley, and corn) and oil and gas markets, as well as the
effects of lingering COVID-19 lockdowns in China on supply chains,
are fueling persistently high inflation worldwide, characterized by
elevated energy and food prices. As a result, we could expect to
see some softening of EBITDA margins and a slower order intake in
2023. At the same time, it is our understanding that demand for
Ali's products, at least in North America, will continue to benefit
from post-pandemic pent-up demand, as some of its customers resume
orders to comply with health and safety requirements.

"The stable outlook reflects our expectation that Ali will allocate
excess cash to make significant debt repayments post the Welbilt
transaction in 2022 and 2023, with debt to EBITDA improving toward
3.0x by 2023 and FOCF to debt of more than 10%.

"We could downgrade Ali if it experiences prolonged weak demand
resulting in muted FOCF and lower-than-anticipated debt repayments,
such that debt to EBITDA remains above 4.0x by 2023.

"We could upgrade Ali if the company accelerates its deleveraging
efforts post-transaction. We would view debt to EBITDA sustainably
near 2.0x and FOCF to debt above 25% as commensurate with a higher
rating. However, this would need to be supported by the company's
commitment to sustain credit ratios commensurate with an
investment-grade rating."

Environmental, Social, And Governance

ESG credit indicators: E-2, S-2, G-2

ESG factors have had no material influence on our credit rating
analysis of Ali Holding S.r.l. Ali sells food service equipment to
a customer base that includes restaurants, hotels, hospitals,
airports, schools, correctional institutions, and canteens.


ERNA SRL: Moody's Lowers Rating on EUR18MM Class C Notes to Ba2
---------------------------------------------------------------
Moody's Investors Service has downgraded the rating of one and
affirmed the ratings of two classes of the Notes issued by ERNA
S.R.L.

EUR231M (Current outstanding balance EUR154.2M) Class A Notes,
Affirmed A2 (sf); previously on Jun 4, 2019 Definitive Rating
Assigned A2 (sf)

EUR51M (Current outstanding balance EUR34M) Class B Notes,
Affirmed Baa3 (sf); previously on Jun 4, 2019 Definitive Rating
Assigned Baa3 (sf)

EUR18M (Current outstanding balance EUR12M) Class C Notes,
Downgraded to Ba2 (sf); previously on Jun 4, 2019 Definitive Rating
Assigned Ba1 (sf)

Moody's has not assigned a rating to the Class Z Notes of the
Issuer.

RATINGS RATIONALE

The rating action reflects the re-assessment of the expected loss
of the underlying loans. The downgrade of the class C Notes is
driven by an increase in the pool's term default risk due to the
downgrade of Telecom Italia S.p.A. to B1 from Ba3 on July 21, 2022
(https://www.moodys.com/research/--PR_468057), the sole tenant in
properties backing three of the four loans. The ratings on the
classes A and B Notes were affirmed because these tranches have
sufficient subordination to absorb the higher expected loss of the
loans.

The rating on the Class A Notes is constrained at four notches
above the current Italian government bond rating (Baa3 Negative).
Future changes to the government bond rating will likely result in
a change of the Class A Notes rating.

As of the July 2022 IPD, the note balance declined by 31.7% to
EUR216 million from EUR316 million at closing due to repayments
from disposal proceeds including a 115% release premium across all
the loans. Since closing in June 2019, 264 properties have been
fully or partially sold, reducing the portfolio to 384 assets.
Based on a December 2021 valuation, the pool's reported LTV,
weighted by each loan's ALA, has slightly reduced to 40.7% from
42.7% at closing.  This compares to a Moody's LTV ratio of 69%
which reflects an updated Moody's portfolio value of EUR313
million.

Moody's rating action reflects a base expected loss in the range of
0-5% of the current balance. Moody's derives this loss expectation
from the analysis of the default probability of the securitised
loans (both during the term and at maturity) and the value
assessment of the collateral.

DEAL PERFORMANCE

ERNA S.R.L is a true sale transaction backed by four floating rate
loans originally secured by 648 properties located in Italy. The
loans were granted by Bank of America Merrill Lynch International
DAC, Milan Branch (NR) to finance the acquisition of the underlying
portfolios or to refinance existing debt. Since closing, 264
properties have been fully or partially sold reducing the portfolio
to 384 assets.  The largest loan, Nucleus (48% of current pool
balance), is secured by warehouses and offices, whereas the other
three loans, Raissa (24%), Aries (18%) and Ermete (11%) are
predominantly secured by telephone exchange properties.

Telecom Italia S.p.A. (B1 Negative) is the sole tenant in
properties backing three of the four loans (Raissa, Aries, Ermete)
with a weighted average lease term to expiry (WALTE) in excess of
13 years. The fourth and largest loan, Nucleus, generates 83% of
its rental income from Enel Italia S.p.A. (Baa1 Negative) and has a
WALTE of 12 years. Vacancy in the largest loan has increased to 32%
from 24% at closing, while occupancy in the other three loans
remains high, with vacancy ranging from 0% to 1%. Since closing,
the Nucleus portfolio experienced the most property disposals with
40.6% of properties sold.  

Moody's loan to value ratios (LTV) range from 71.6% on the largest
loan to 62.4% on Raissa, 72.0% on Aries and 68.9% on Ermete.
Moody's assigned a property grade of 3 (on a Scale of 1 to 5 with 1
being the best) for all four loans.

The principal methodology used in these ratings was "Moody's
Approach to Rating EMEA CMBS Transactions" published in May 2021.

Factors That Would Lead to an Upgrade or Downgrade of the Ratings:

Main factors or circumstances that could lead to an upgrade of the
ratings are generally: (i) an increase in the property values
backing the underlying loans; (ii) repayment of loans with an
assumed high refinancing risk; (iii) a decrease in default risk
assessment; or (iv) given the exposure to Italy, a decline in
sovereign risk.

Main factors or circumstances that could lead to a downgrade of the
ratings are generally: (i) a decline in the property values backing
the underlying loans;(ii) an increase in default risk assessment;
or (iii) given the exposure to Italy, an increase in sovereign
risk.



=====================
N E T H E R L A N D S
=====================

GROSVENOR PLACE 2015-1: Fitch Ups E-RR Notes Rating to 'BB-sf'
--------------------------------------------------------------
Fitch Ratings has upgraded Grosvenor Place CLO 2015-1 BV 's class
A-2A-RR, A-2B-RR, C-RR, D-RR and E-RR notes and affirmed the
others.

RATING ACTIONS

ENTITY/DEBT         RATING                   PRIOR
-----------         ------                   -----
Grosvenor Place
CLO 2015-1 B.V.

A-1A-RR 39927WBU0   LT  AAAsf    Affirmed    AAAsf

A-1B-RR 39927WBW6   LT  AAAsf    Affirmed    AAAsf

A-2A-RR 39927WBY2   LT  AAAsf    Upgrade     AA+sf

A-2B-RR 39927WCA3   LT  AAAsf    Upgrade     AA+sf

B-RR 39927WCC9      LT  A+sf     Affirmed    A+sf

C-RR 39927WCE5      LT  Asf      Upgrade     BBB+sf

D-RR 39927WCG0      LT  BBB-sf   Upgrade     BB+sf

E-RR 39927WCJ4      LT  BB-sf    Upgrade     B+sf

TRANSACTION SUMMARY

Grosvenor Place CLO 2015-1 BV is a cash-flow collateralised loan
obligation (CLO) backed by a portfolio of mainly European leveraged
loans and bonds. The portfolio is managed by CQS Investment
Management Limited and the transaction exited its reinvestment
period in April 2020. While the manager can reinvest subject to the
reinvestment criteria, it has not done so since February of this
year.

KEY RATING DRIVERS

Transaction Deleveraging: The upgrade of the class A-2A-RR,
A-2B-RR, C-RR, D-RR and E-RR notes reflects the deleveraging of the
transaction since our last review in October 2021. The class A-1
notes have paid down by EUR70.7 million during the review period.
Overall credit enhancement has improved across all rated notes.

The transaction exited its reinvestment period in April 2020 and
the manager is unlikely to reinvest unscheduled principal proceeds
and sale proceeds from credit-risk and credit-improved obligations
due to the breach of several tests that need to be maintained or
improved, including the weighted average life (WAL) test. The
transaction's decreasing WAL covenant makes it less likely that the
latter will be achieved.

Since the manager is unlikely to reinvest, Fitch has assessed the
transaction based on the current portfolio, by notching down by one
level all assets with Fitch-derived ratings (FDR) on Negative
Outlook.

The Stable Outlooks on all notes reflect Fitch's expectation that
deleveraging of the notes would be limited in the next 12-18
months, given the small portion of assets maturing by 2023 and
limited prepayment expectation in the current uncertain
macroeconomic environment.

Stable Asset Performance: The transaction's metrics indicate stable
asset performance. The transaction is currently 0.45% above par and
is passing all coverage tests. Similar to the last review, it has
continued to fail the WAL test (2.8 versus 2.5). It is also failing
the WA spread (3.7% versus 3.8%), top-10 obligor concentration
(30.8% versus 26%), fixed-rate concentration (12.3% versus 10%) and
several single- obligor concentration tests. However, these test
failures are typical for transactions that are deleveraging.
Exposure to assets with a FDR of 'CCC+' and below is 7.45%, better
than the 8.03% at the last review, as calculated by the trustee.
The portfolio has no defaulted assets.

'B'/'B-' Portfolio: Fitch assesses the average credit quality of
the obligors at 'B'/'B-'. The Fitch-calculated WARF of the current
portfolio is 24.79.

High Recovery Expectations: Senior secured obligations comprise
92.6% of the portfolio as calculated by the trustee. Fitch views
the recovery prospects for these assets as more favourable than for
second-lien, unsecured and mezzanine assets. The Fitch-calculated
WARR of the current portfolio is 60.92%.

Diversified Portfolio: While the portfolio has amortised and is
becoming more concentrated, it is still sufficiently diversified
across obligors, countries and industries. The top-10 obligor
concentration is 30.8%, and no obligor represents more than 3.7% of
the portfolio balance.

Cash Flow Modelling: The transaction was run using the current
portfolio with assets on Outlook Negative notched down one level
from the FDRs.

Deviation from Model-implied Rating: Fitch deviated from the
model-implied ratings (MIR) by one to two notches for the class
B-RR, C-RR, and E-RR notes, due to their small default-rate
cushions at their MIRs.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- An increase of the default rate (RDR) at all rating levels by
   25% of the mean RDR and a decrease of the recovery rate (RRR)
   by 25% at all rating levels would result in downgrades of no
   more than four notches depending on the notes.

While not Fitch's base case, downgrades may occur if build-up of
the notes' credit enhancement following amortisation does not
compensate for a larger loss expectation than initially assumed,
due to unexpectedly high levels of defaults and portfolio
deterioration.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

A reduction of the RDR at all rating levels by 25% of the mean RDR
and an increase in the RRR by 25% at all rating levels would result
in upgrades of up to four notches depending on the notes, except
for the class A notes, which are already at the highest rating on
Fitch's scale and cannot be upgraded.

-- Upgrades may also occur if the portfolio's quality remains
   stable and the notes continue to amortise, leading to higher
   credit enhancement across the structure.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Structured Finance
transactions have a best-case rating upgrade scenario (defined as
the 99th percentile of rating transitions, measured in a positive
direction) of seven notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of seven notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAAsf' to 'Dsf'. Best- and worst-case scenario credit ratings
are based on historical performance.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset pool
and the transaction. Fitch has not reviewed the results of any
third-party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

The majority of the underlying assets or risk-presenting entities
have ratings or credit opinions from Fitch and/or other nationally
recognised statistical rating organisations and/or European
securities and markets authority-registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information or information on the risk-presenting entities.

Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.


KONINKLIJKE KPN: Egan-Jones Retains BB Senior Unsecured Ratings
---------------------------------------------------------------
Egan-Jones Ratings Company, on August 9, 2022, retained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Koninklijke KPN N.V.

Headquartered in Rotterdam, Netherlands, Koninklijke KPN N.V. is a
telecommunications and IT provider in the Netherlands, serving both
consumer and business customers with its fixed and mobile networks
for telephony, broadband and television.




===========
P O L A N D
===========

BANK MILLENNIUM: Fitch Cuts LongTerm IDR to 'BB', Outlook Stable
----------------------------------------------------------------
Fitch Ratings has downgraded Poland-based Bank Millennium S.A.'s
(Millennium) Long-Term Issuer Default Rating (IDR) to 'BB' from
'BBB-'. The Outlook is Stable. At the same time, the agency has
downgraded the bank's Viability Rating (VR) to 'bb' from 'bbb-' and
National Long-term Rating to 'BBB+(pol)' from 'A(pol)'.

The two-notch downgrade of the VR and Long-Term IDR reflects the
following key drivers:

- erosion of the bank's common equity Tier 1 (CET1) ratio to
   12.1% at end-1H22 from 15.6% at end-1H21, driven by net losses
   and negative other comprehensive income. Fitch previously
   identified the CET1 ratio falling below 13.0% as a trigger for
   a potential downgrade

- expected further significant erosion of capital in 3Q22, which
   will lead to a breach of the combined capital buffer
   requirement and the launch of the bank's recovery plan. Capital

   erosion will be predominantly driven by the (sector-wide)
   credit holidays offered to zloty mortgage borrowers, the cost
   of which will result in a large quarterly loss and a negative
   result for 2022 as a whole.

- Fitch's one-notch downgrade of the operating environment score
   for Poland to 'bbb' from 'bbb+', reflecting the increased
   willingness of the Polish authorities to intervene in the
   banking sector and impose large additional cost on banks.

The Stable Outlook on Millennium reflects Fitch's expectation that
the bank's capital ratios will start gradual recovery from 4Q22.
The bank remains structurally profitable and will benefit from
higher interest rates and wider margins, while the negative impact
of legal provisions on the Swiss franc mortgage portfolio, which
drove losses in 2021 and 1H22, should gradually recede.

Fitch has withdrawn Millennium's Support Rating as it is no longer
relevant to the agency's coverage following the publication of its
updated Bank Rating Criteria on 12 November 2021. In line with the
updated criteria, we have assigned Millennium a Shareholder Support
Rating (SSR) of 'b'.

KEY RATING DRIVERS

IDRs and VR

Millennium's ratings reflect capital pressures that are
predominantly from its above-average exposure to products that have
become the subject of government or judicial intervention,
negatively impacting reported profitability. At the same time, they
are supported by its solid franchise, reasonable core profitability
and asset quality as well as a strong funding and liquidity
profile.

The reduction in Millennium's CET1 ratio to 12.1% at end-1H22 was
driven by a combination of net losses posted in 2H21 and 1H22
(driven by large legal risk provisions on the legacy swiss franc
mortgage loan portfolio) and the impact of mark-to-market losses on
the large portfolio of Polish government bonds accounted at fair
value through other comprehensive income.

The introduction of the zloty mortgage credit holiday will further
erode Millennium's capital ratios in 3Q22. The impact on Bank
Millennium is greater than on other banks due to its larger
exposure to this asset class (about 44% of gross loans at end-1H22)
and impaired ability to absorb this additional cost through
operating profit, due to still significant costs related to Swiss
franc mortgages. Consequently, the bank expects the Core Tier 1
ratio to drop by a further 300bp in 3Q22, to about 9.1% (assuming
no other changes), resulting in a breach of the combined capital
buffer requirement and triggering the launch of the recovery plan.
The credit holiday allows virtually all zloty mortgage borrowers to
defer eight monthly installments during 2H22-2023 to the end of the
loan, with no interest incurred on the deferred payments.

Management plans to restore capital above regulatory minimums
through a combination of capital generated internally and
risk-weighted assets (RWA) reduction through securitisations.
However, it is likely that the CET1 ratio will remain below Fitch's
13% threshold for an implied 'bbb' category score for
capitalisation & leverage for a prolonged period.

Fitch has downgraded Millennium's Business Profile score by one
notch to 'bb+' and its Risk Profile score by two notches to 'bb'.
This reflected the downgrade of the operating environment score and
the bank's above-average exposure products that have become the
subject of government or judicial intervention. The assessments
also continue to reflect residual risks related to the
foreign-currency mortgage portfolio and their impact on the bank's
ability to generate capital. The outlook on the Business Profile
score is negative, reflecting downside risks for the bank's
franchise from the implementation of the recovery plan and more
limited ability to write new business.

The bank's core performance (excluding legal risk provisions and
the contribution to the Institutional Protection Scheme) was solid
in 1H22, with a ratio of core operating profit/RWA of around 5.1%.
This was driven predominantly by improvement in the net interest
margin to 4.4%, from 2.8% in 2021 and modest loan impairment
charges. However, the return on average equity was minus 8.5% in
1H22 and minus 16.3% in 2021.

The Stage 3 impaired loans ratio was broadly stable at 4.2% at
end-1H22 (4.3% at end-2021), and loan impairment charges were a low
37bp of average gross loans, due to limited new defaults and the
sale of a non-performing loan portfolio. The bank has no direct
exposure to Ukraine and exposure to customers with a sizeable
business dependency on this market is modest, at around 0.4% of
total gross loans.

Fitch said, "We expect asset quality to deteriorate over the coming
quarters as slowing economic growth and shrinking disposable
incomes lead to a pick-up in default rates. Combined with more
conservative underwriting criteria, this will also constrain demand
for new lending. Pre-payments on zloty mortgage loans are rising
and likely to increase, as customers may earmark at least part of
money saved due to the credit holiday to reduce their loan
balances."

Funding and liquidity positions remains strong. Retail deposits
were almost fully restored by end-2Q22 following the outflows that
occurred across the sector in 1Q22 following the outbreak of the
war in Ukraine, while corporate deposits grew by around 20% in
1H22. Regulatory liquidity metrics are strong, with the liquidity
coverage ratio standing at 158% at end-1H22.

SSR

Millennium's 'b' SSR reflects limited potential support available
from the bank's 50.1% owner, Banco Comercial Portugues S.A. (BCP;
BB/Stable/bb). The SSR considers Millennium's strategic importance
for BCP and reputational risks for the parent from a potential
subsidiary default. However, the rating also reflects the
subsidiary's large size relative to the parent (23% of consolidated
assets at end-1H22) and BCP's moderate standalone credit profile,
which in our view constrain the parent's ability to provide
extraordinary support. Fitch understands that no capital injections
into Millennium are planned following its breach of solvency
requirements.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

The ratings could be further downgraded in case of a prolonged
breach of capital buffers, without credible prospects to restore
them over the medium term. This could result from an inability to
execute on the planned RWA reduction, larger than currently
expected legal provisions, or asset quality deterioration beyond
Fitch's current expectations.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

Fitch said, "We would upgrade the Long-Term IDR and VR if it
becomes clear that the CET1 ratio will be restored comfortably and
durably above 13%, there is limited damage to the bank's franchise
from the implementation of the recovery plan and the risk profile
improves through the significant reduction of risks related to its
foreign-currency mortgage portfolio."

SSR

The SSR would be downgraded if BCP's Long-Term IDR was downgraded,
the parent's propensity to support the bank weakens, or BCP fails
to provide support when Millennium is in acute need of it.

An upgrade would require an upgrade of the parent's Long-Term IDR
and our view of a still significant propensity to support
Millennium.




===========
R U S S I A
===========

[*] Fitch Takes Actions on Aircraft ABS on Russia/Ukraine Exposure
------------------------------------------------------------------
Fitch Ratings has taking the following rating actions on aircraft
ABS transactions placed on Rating Watch Negative following its
review of the sector in March of 2022:

The transactions mentioned below have been removed from Watch.

AASET 2019-1 Trust

  Class A 00256DAA0  LT  B-sf   Downgrade  BBBsf
  Class B 00256DAB8  LT  CCCsf  Downgrade  BBsf
  Class C 00256DAC6  LT  CCsf   Downgrade  CCCsf

Falcon 2019-1 Aerospace Limited

  Series A 30610GAA1 LT  BBBsf  Affirmed   BBBsf
  Series B 30610GAB9 LT  Bsf    Downgrade  BBsf
  Series C 30610GAC7 LT  CCCsf  Affirmed   CCCsf

AASET 2019-2 Trust

  A 00038RAA4        LT  Asf    Affirmed   Asf

TRANSACTION SUMMARY

In March of 2022, Fitch placed 13 Aircraft ABS transactions on
Rating Watch Negative due primarily to the presence of collateral
assets in Russia and Ukraine. Following an evaluation of
transaction performance and collateral development, Fitch has taken
the above rating actions, which are primarily driven by exposure to
Russian and Ukrainian collateral and the continued pressure on
aircraft values and lease rate volatility given the challenging
market environment.

Given the uncertainty surrounding insurance claims related to
Russia and Ukraine, Fitch ran various scenarios testing the
sensitivity regarding the timing and ultimate payouts from
insurance claims. Fitch's base case used in this review was a 50%
payment of the Maintenance Adjusted Base Value as of May 2022, and
this payment was lagged by 36 months. These levels were stressed
further for rating levels above the single 'B' category. Fitch is
still reviewing information related to two transactions with
exposure to Russia in order to resolve the RWN assigned
specifically to these.

Commercial aviation continues to face multiple headwinds including
the lingering pandemic variants and associated travel restrictions,
as well as elevated oil prices, rising interest rates, and
potential demand destruction due to higher ticket prices and
recessionary concerns. Such events may lead to additional lease
restructurings, lessee delinquencies and defaults, reductions of
lease rates in the pool, and accelerated declines to asset values,
all of which cause downward pressure related to future cash flows
required to meet debt service.

Despite these challenges, the market continues to recover from the
depths of the pandemic during 2020 and 2021, although there are
significant regional differences in performance. U.S. domestic air
travel is near pre-pandemic levels; international air travel,
however, is still approximately 25% below pre-pandemic levels. The
Asia Pacific region, specifically China, continues to underperform
and dampen the overall global rebound. While the main driver
impacting ratings is Russian and Ukrainian exposure, the rating
reviews considered other factors, including aircraft values, cash
collections, and the credit quality of certain lessees.

KEY RATING DRIVERS

Horizon Aircraft Finance II Limited:

Aircraft Collateral

One Aircraft With Exposure to Russia: Horizon II had one plane (7%
of the portfolio) leased to a Russian airline before the war. The
lease was terminated promptly after Russia's invasion into Ukraine,
but the lessee continues operating the plane. Redelivery efforts
are ongoing, and the issuer has submitted insurance claims on May
23. Fitch believes the success of repossessing this aircraft is
becoming increasing unlikely and even if successful, that the
aircraft would likely be in a state of disrepair.

Asset Value and Lease Rate Volatility

Lower Lease Rates Pressure Cash Flow: Weighted average lease rate
factors have declined by 11% in the overall portfolio. They have
been driven lower by re-leases and restructuring efforts on certain
existing leases. Additionally, the portfolio has a high level of
off-lease aircraft (approximately 23%).

Lessee Credit Quality

Deteriorating Lessee Credit Quality: Lessee credit quality
continues to deteriorate, evidenced by increasing levels of
arrears.

AASET 2019-2 Trust:

Aircraft Collateral

Russian Exposures Shrink Rating Headroom: The portfolio had five
aircraft with exposure to Russia when Fitch placed the transaction
on Negative Watch, comprising approximately 14% of the portfolio.
One of these planes has been relocated to a hanger in Egypt while
all others are reported as total losses. The rest of the portfolio
has depreciated in line with expectations. Notwithstanding the high
exposure, Fitch is affirming the ratings for this transaction, as
the original credit enhancement was more than sufficient for each
of the rated notes.

Asset Value and Lease Rate Volatility

LRF Lower, AOG High: As planes were released during a downturn, the
WA lease rate factor on leased planes decreased by 5%, which
decreases the net cash flow generated by the portfolio.
Additionally, the portfolio has a moderate level of off lease
aircraft (approximately 14%).

Lessee Credit Quality

Lessee credit quality has not changed materially from Fitch's last
review.

AASET 2020-1 Trust:

Aircraft Collateral

Disposition Gains Improve LTVs: The portfolio had one aircraft with
exposure to Russia, comprising 5% of the portfolio, when Fitch
placed the transaction on Negative Watch, which the lessor has
since written off as a total loss. However, the transaction
benefits from material gains on dispositions, relative to reported
aircraft value. This has improved DSCR and brought down the notes'
LTVs and outstanding balances close to target. The rest of the
portfolio has depreciated in line with Fitch's expectations.

Asset Value and Lease Rate Volatility

Lease Rate Factors Comparable: The WA lease rate factor on all
leased aircraft and engines remains similar since Fitch's last
review. The share of off-lease aircraft is currently 19%; however,
according to the servicer, two of the aircraft are being
redeployed.

Lessee Credit Quality

Lessee credit quality has not materially changed from our last
review.

AASET 2018-1 Trust:

Aircraft Collateral

The portfolio had three aircraft with exposure to Russia,
representing approximately 14% of the portfolio and a combined
appraisal value of $28.6 million. Two aircraft leased to a
Ukrainian airline were removed from Ukraine and are being
remarketed. The rest of the portfolio has depreciated in line with
expectations. The pool consists of a mix of narrow body (NB) and
wide body (WB) aircrafts and they are primarily mid-to-end-of-life
aircrafts (weighted-average [WA] age of 17.7 years) and leases with
moderate remaining terms (WA 1.8 years remaining term).

Asset Value and Lease Rate Volatility

Lease Rate Factors Lower: The WA lease rate factor has decreased
considerably since the prior review, exerting pressure on the net
cash flow generated by the portfolio. Off-lease share in the
portfolio stands at 43.8% (excluding the three aircraft held in
Russia), compared to 10% at the time of the last review. Collateral
values declined 13.7% from the December 2021 appraisals to the June
2022 appraisals. Fitch expects continued pressure on values in the
short-to-medium term given market conditions.

Lessee Credit Quality

Lessee credit quality has not materially changed from Fitch's last
review.

AASET 2018-2 Trust:

Aircraft Collateral

The portfolio had four aircraft on lease to Russian airlines,
representing approximately 10% of the portfolio and an appraisal
value of $59.2 million. These aircraft have not been recovered. The
rest of the portfolio has depreciated in line with expectations.
The pool consists of a mix of narrow body (NB) and wide body (WB)
aircrafts that are primarily mid-to-end-of-life aircrafts
(weighted-average (WA) age of 17.3 years) and leases with moderate
remaining terms (WA 2.5 years).

Asset Value and Lease Rate Volatility

Lease Rate Factors Lower: The WA lease rate factor decreased by
~11% since Fitch's last review. The off-lease share in the
portfolio stands at 14.6% (not including aircraft held in Russia),
compared to 4% when Fitch last reviewed the transaction. A re-lease
for an aircraft in the portfolio was recently signed, which would
decrease the current AOG in the portfolio when in effect. The
pressure on lease rate factors and the increase in off-lease
aircraft exert pressure on cash flow generation. Collateral values
decreased by 22.6% from the December 2021 appraisals to the June
2022 appraisals, which was primarily driven by the Russia-exposed
aircraft. Fitch expects continued pressure on values in the
short-to-medium term given market conditions.

Lessee Credit Quality

Lessee credit quality has not materially changed from Fitch's last
review.

AASET 2019-1 Trust:

Aircraft Collateral

The portfolio had three aircraft leased to Russian airlines,
comprising ~23% of the portfolio and an appraised value of $47.1
million. These aircraft have not been recovered. The servicer has
treated these as total losses/dispositions, but no insurance
proceeds have been received to date. The pool consists of a mix of
narrow body (NB) and wide body (WB) and primarily
mid-to-end-of-life aircraft (weighted-average [WA] age of 18.3
years) and leases with modest remaining terms (WA 1.8 years)).

Asset Value and Lease Rate Volatility

Lease rate factors have declined since Fitch's last review.
Off-lease share in the portfolio stands at ~41% (not including
Russia-exposed aircraft), up considerably since Fitch's last
review. This increase in off-lease aircraft puts pressure on
current cash collections and introduces uncertainty regarding the
future outcome of these aircraft and cash flows they generate.

Total collateral value in the pool decreased 34.5% from the July
2021 appraisals to the February 2022 appraisals. Part of the
decrease in value was driven by the removal of the aircraft held in
Russia.

Lessee Credit Quality

Lessee credit quality has not materially changed from Fitch's last
review.

Lunar Aircraft 2020-1 Limited:

Russia/Ukraine Transaction-Specific Commentary: While the portfolio
remains stressed, given overall market conditions and limited
diversification, the impact of Ukrainian exposure has been
mitigated due to the servicer's proactive actions. The pool
continues to have two aircraft leased to a Ukrainian airline. These
aircraft remain outside of the Ukraine, and the servicer expects
lease payments will continue to be made during the medium term. If
the lessee does not perform, the servicer expects to terminate the
leases and take possession of the aircraft outside of Ukraine. No
aircraft are being held in Russia.

Aircraft Collateral

The pool consists of 12 narrow body (NB) aircraft with the majority
characterized as mid-life aircraft (weighted average [WA] age of
12.6 years) and leases with moderate remaining terms (WA 3.7
years). Collateral values depreciated modestly by 1.7% from the Feb
'21 appraisals to the Feb '22 appraisals. Nevertheless, Fitch
recognizes that there may be pressure on values in the
short-to-medium term given market conditions.

Lessee Credit Quality

Overall, lessee credit quality has declined as several obligors
have experienced significant delinquencies and further financial
pressure. The servicer has responded with deferrals, restructures,
and power-by-the-hour (PBH) arrangements to provide relief to these
airlines. Such modifications have caused downward pressure on lease
rates. Additionally, the transaction remains subject to
concentration risk as there are currently only eight lessees.

Lease Rate Volatility and Cash Flow Declines

Lease collections and transaction cash flows remain pressured by
pandemic-related impacts and other market stresses. LTM lease
collections were 44% below those of the prior twelve months. Fitch
expects that contractual cash flows are likely to continue to be
impacted by actions by the servicer to adapt to the current
environment including restructures, entry into PBH
(Power-by-the-hour) contracts, and the early return and
re-deployment of aircraft. The average lease rate factor of the
portfolio continues to show declines.

Silver Aircraft Lease Investment Limited:

Russia/Ukraine Transaction-Specific Commentary: While the portfolio
remains stressed given overall market conditions, the impact of the
Russia exposure has been mitigated due to the servicer's proactive
actions. The pool has one aircraft that was leased to a Russian
airline and has not been recovered despite termination of the lease
pursuant to sanctions and demands from the servicer for the lessee
to return the aircraft. This asset represents approximately 3.5% of
the pool, which is ~$20.2 million Lesser of the mean and median
(LMM). The servicer had two other aircraft leased to Russian
airlines but was successful in repossessing these aircraft. These
two aircraft represent approximately 8.7% of the pool, and are in
the process of being remarketed for re-lease.

Aircraft Collateral

The pool consists of 15 narrow body (NB) and two widebody (WB)
aircraft (weighted-average age of 9.3 years) and leases with
moderate remaining terms (WA 6.0 years remaining term including
three aircraft under LOI). The annual depreciation rate of the pool
(excluding the aircraft held in Russia) was 8% not taking
maintenance adjustments into account (which were quite large and
positive for the latest appraisal). Excluding the aircraft held in
Russia and aircraft subject to LOIs, aircraft utilization is 100%,
which is a positive factor for the portfolio.

Lessee Credit Quality

Overall, lessees remain under financial strain as several obligors
have experienced delinquencies and further financial pressure. The
servicer has responded with deferrals, restructures, and
power-by-the-hour (PBH) options to provide relief to these
airlines. Such modifications have caused downward pressure on lease
rates. Past-due rentals over 30 days total ~$5.8 million and
deferral agreements with six lessees remain in effect.

Lease Rate Volatility and Cash Flow Declines:

Lease collections and transaction cash flows remain pressured by
pandemic-related impacts and other market stresses. Gross LTM lease
collections have generally stabilized compared to the prior 12
months. However, controlling for two months with non-recurring
inflows relating to a maintenance reserve claim and a lump-sum
payment of past-due rent, average lease collections have decreased
by ~9% over this period. Further, adjusted LTM lease collections
are ~39% lower than pre-pandemic levels; the reduction in
collections is due not only to lessee payment performance (~$5.8
million of rentals less than 30 days past-due), but to contractual
changes in rental obligations that lower the lease rates.

ECAF I Ltd:

Russia/Ukraine Transaction-Specific Commentary: Approximately 8%%
of the pool is impacted by two aircraft that were leased to a
Russian airline. These aircraft have not been recovered, and the
servicer submitted insurance claims under both the operator and
contingent policies.

Aircraft Collateral

The pool consists of 20 narrow body (NB) primarily mid-life
aircraft (weighted-average [WA] age of 11.6 years) and leases with
moderate-to-long remaining terms (WA 5.2 years remaining term
including two aircraft under LOI). Fitch considers the narrow body
aircraft to be generally marketable, but the prospects of the five
widebody aircraft are less certain to greater valuation pressures
in the current market environment.

Asset Value and Lease Rate Volatility:

Aircraft utilization is low with ~54% of the pool off-lease,
pressuring cash flow generation.

The portfolio has experienced higher than expected decline in asset
value. Pool value, measured by the lesser of the mean and median
appraised value decreased approximately 20% since the Dec. 31 2021
appraisals. ~8% of the decrease is attributable to impact from the
aircraft held in Russia.

Lessee Credit Quality

Since Fitch's prior review, two aircraft have moved to new lessees.
Overall, lessee credit quality has declined as several obligors
have experienced significant delinquencies and financial pressure.
The servicer has responded with deferrals, restructures, and
power-by-the-hour (PBH) arrangements to provide relief to these
airlines. Such modifications have caused downward pressure on lease
rates.

Thunderbolt II Aircraft Lease Limited:

Russia/Ukraine Transaction-Specific Commentary: TBOLT II has one
aircraft held in Russia, representing ~5% of the pool. The lease
has been terminated, and recovery efforts are underway. Lessor has
explained that recovery is unlikely; however, it is pursuing an
insurance claim.

Aircraft Collateral

The pool consists of 17 narrow body (NB) and one wide body (WB)
primarily mid-life aircraft (weighted-average [WA] age of 11.9
years) and leases with moderate remaining terms (WA 5.3 years
remaining term). Fitch considers the aircraft in this transaction
generally to be of acceptable marketability.

Asset Value and Lease Rate Volatility:

Utilization is acceptable with only 5% of the aircraft off lease.
Collateral values declined 13% from Dec. 31, 2020 to Dec. 31, 2021
based on external appraisals.

The weighted average lease rate factor has experienced significant
downward pressure due to modifications and re-leases at lower lease
rates.

Lessee Credit Quality

Since the last review, one aircraft moved to a new lessee. Overall,
lessee credit quality has declined as several lessees have
experienced significant delinquencies and further financial
pressure.

Falcon 2019-1 Aerospace Limited:

Russia/Ukraine Transaction-Specific Commentary: The pool has four
aircraft impacted by Russia/Ukraine, representing approximately 21%
of the pool. Two of the four aircraft are being stored in a hanger
in Ukraine, and the lessee is still making payments to the
servicer. Because the aircraft in Ukraine are still paying the
servicer and there is a reasonable chance that they will be
recovered, Fitch has not applied a haircut to cash flows due to the
war. There are two aircraft leased to Russian airlines
(representing approximately 11% of the pool) that have not been
recovered.

Aircraft Collateral

The pool consists of primarily of narrow body (NB) and mid-life
aircraft (weighted-average [WA] age of 13.5 years) and leases with
low remaining terms (WA 2.02 years). Fitch considers the aircraft
in this transaction generally to be of acceptable marketability.

Asset Value and Lease Rate Volatility

Collateral values depreciated by approximately 11% from Dec. 31,
2021 to June 30, 2022 based on third party appraisals, and the
decrease was driven by the removal of the two aircraft held in
Russia.

Lessee Credit Quality

Overall, lessee credit quality has decreased as several accounts
have experienced delinquencies and further financial pressure. The
servicer has responded with deferrals, restructures, and
power-by-the-hour (PBH) arrangements to provide relief to these
airlines. Such modifications have caused downward pressure on lease
rates.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

Downgrades are possible if the concentration of grounded aircraft
or lease deferrals resulting in material decline in cash flows
remains high, or impacts to structural features. This includes
notable increases in transaction LTVs that impair credit
enhancement, taking into account pool transaction performance
metrics, and forward-looking scenarios that stress transaction
liquidity and cash flows.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

Rating upgrades are limited as Fitch caps the aircraft ABS sector
at 'Asf' ratings. This is due to heavy servicer reliance,
historical asset and performance risks and volatility, and its
pronounced exposure to exogenous risks. This was evidenced by the
effects of the events of Sept. 11, 2001, the 2008-2010 credit
crisis and the global pandemic, all impacting demand for air
travel. Finally, the risks that aviation market cyclicality
presents to these transactions are compounded because when lessee
default probability is highest, aircraft values and lease rates are
typically depressed.

Fitch also considers jurisdictional concentrations per the
"Structured Finance and Covered Bonds Country Risk Rating
Criteria," which could result in lower rating caps. Hence, senior
class 'Asf' rated notes are capped and there is no potential for
upgrades for certain tranches at this time.

As it relates to classes rated below 'Asf', rating upgrades across
Fitch's rated portfolio are highly limited at this time given
ongoing pressure on transaction performance metrics and the ongoing
geopolitical risk, which combined will retain negative ABS rating
pressure, especially for transactions that are underperforming
relative to Fitch's COVID recovery expectation. Key drivers of
potential upgrades would be strong collections, debt service
coverage ratio above triggers and a decline in LTVs sustained over
a period of time, among other factors.




=========
S P A I N
=========

EL CORTE INGLES: Fitch Affirms BB+ LongTerm IDR, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has affirmed El Corte Ingles, S.A.'s (ECI) Long-Term
Issuer Default Rating (IDR) at 'BB+' with Stable Outlook.

The affirmation reflects clear signs of a strong rebound in
operating performance and Fitch's expectation that funds from
operations (FFO) adjusted net leverage will return to 3.5x in FY24
(ending February 2024). It also acknowledges the group's efforts in
optimising its capital structure with its recent refinancing. Fitch
expects a slowdown of profitability recovery due to increasing
inflationary pressures, partly offset by good price management.

The disposal of ECI's insurance division to Mutua Madrilena (Mutua)
has been successfully completed, while Fitch expects the repurchase
of 5.5% of its own shares from shareholder Primefin to be funded
with available resources to slightly delay deleveraging towards
Fitch's positive rating sensitivity.

The rating reflects ECI's strong market position in Spain,
financial flexibility provided by a largely unencumbered
real-estate asset base, enhancement of its omni-channel
capabilities, comfortable liquidity and early evidence of a
successful business optimisation strategy.

Fitch has withdrawn ECI's rating for commercial reasons. Fitch will
no longer provide analytical coverage of ECI.

KEY RATING DRIVERS

Neutral Changes in Shareholding Structure: ECI entered into an
agreement with Primefin to repurchase half of the latter's
shareholding (5.5%, to be held as treasury stock from November
2022). Fitch assumes the repurchase will not threaten the
deleveraging capacity of the company, as it will be financed using
available resources, and if needed, limited incremental debt under
a large available revolving credit facility (RCF). Proven excellent
financial flexibility and access to the market during the past two
years should allow ECI to complete the repurchase without rating
impact.

Positive Signs of Recovery: FY22 results, and trading at the
beginning of FY23, signal a strong recovery in both revenue and
profitability after the intermittent closure of ECI's department
stores and travel agency during full and partial lockdowns. Fitch
said, "We expect a recovery of fashion retail and the food segment,
together with an improvement in the travel segment on significant
pent-up demand. We expect revenue to reach 80% of pre-pandemic
levels in FY23, with EBITDA margin improving from FY22, aided by
efficient cost-saving measures."

Inflationary Pressures but Resilient Profitability: Fitch said, "We
expect ECI to progressively return to EBITDA margins of around 6.5%
over the forecast horizon to FY25, and to recover free cash flow
(FCF) margins in the low single digits, after capex and dividends.
While we expect revenue growth to slow in 2HFY23 and FY24,
successful cost efficiencies, including from a new redundancy plan
and product sourcing, together with a below-average price
sensitivity of its clientele, should moderate pressure from
inflation in FY23 and FY24, particularly in energy and logistics
cost linked to online development. The group was able to adapt its
cost base during the pandemic, absorbing more than 80% of its
revenue decline in FY20."

Deleveraging to Accelerate: The completion of the disposal of ECI's
insurance division to Mutua has released EUR1.1 billion of proceeds
for early debt repayment. This transaction, in conjunction with the
recent refinancing, which included bond repayments and replacement
by a new syndicated loan, will significantly improve its financial
burden and maturities. "We forecast FFO-adjusted net leverage at
3.8x in FY23, moving towards our positive sensitivity by FY24 as
performance normalises. Management have reaffirmed their commitment
to attaining an investment-grade rating," Fitch said.

Optimisation of Retail Model: ECI's digitalisation accelerated
during lockdowns but only part of its improved online penetration
has been retained as shoppers return to stores post-pandemic. Its
recent merger with Logitravel in the travel agency segment will
enhance online capabilities and leisure presence. "We believe ECI
is in a good position to undertake planned new activities such as
energy, mobile phone services and home security by leveraging its
existing infrastructure, client base, trust, brand, and store
footfall. However, we expect the take-off of this new retail
ecosystem to be delayed by disrupted market conditions, especially
in energy," Fitch said.

Flexibility from Real-Estate Portfolio: Fitch said, "We view ECI's
monetisation of its non-core real-estate portfolio as a source of
financial flexibility as it owns a large real-estate portfolio
valued at EUR16 billion in 2022. However, Fitch foresees selective
asset disposals as we still view this large portfolio as a source
of operational flexibility. The group has monetised more than
EUR1.1 billion from non-core real estate assets and businesses over
the past five years."

Largest Department Store in Europe: ECI derives 95% of its revenue
from Spain, where it operates the only large department store
chain. It has a privileged position due to its product and service
offering, long-established brand, loyalty and prime locations. It
also has hypermarkets integrated within department stores and a
proximity store chain.

Its large scale allows it to profitably sell financial products,
including consumer loans, to finance purchases and insurance
products, via its two 49%-owned joint venture with Banco Santander,
S.A. (A-/Stable) and Mutua. ECI has a leading travel agency in
Spain, which is reinforced by its recent merger with the leading
online travel agency Logitravel.

DERIVATION SUMMARY

ECI's IDR is at the same level as UK-based Marks and Spencer Group
plc (BB+/Positive), reflecting similar scale, diversified offering
and similar multi-channel capabilities. ECI has been more affected
by the pandemic and is significantly more exposed to discretionary
spending, although less to online competition. ECI's FFO adjusted
net leverage is expected to be higher than M&S's as business trends
and margins normalise, but metrics of both companies should
converge by FY24.

ECI is rated lower than Kohl's Corporation (BBB-/Stable), Falabella
S.A. (BBB/Stable) and El Puerto de Liverpool, S.A.B. de C.V.
(BBB+/Stable). The main factors for the rating differential are
lower profitability and higher leverage, although ECI had similar
FCF generation before the pandemic.

Until recently ECI was rated above north American peers Dillard's,
Inc. (BBB-/Stable) and Macy's Inc. (BBB-/Stable), which were
upgraded following exceptionally strong margins in 2021 related to
a strong rebound in activity after the lockdowns and a reduction in
promotional expenses, which have enabled them to reduce leverage.
These two companies had declining EBITDAR margins before the
pandemic and had faced fiercer online competition.

ECI benefits from lower profit volatility than its American peers
due to its dominant market position in Spain with more gradual
penetration of e-commerce and its presence in the more resilient
food segment. Compared with peers, ECI benefits from the
flexibility provided by owning most of its real-estate assets
(similar to Dillard's), with an appraisal value of EUR16.1 billion
in 2022. This ownership provides ECI with strong financial and
operational flexibility and underpins its solvency through the
cycle.

KEY ASSUMPTIONS

- FY23 revenue to recover to 80% of FY19 levels, driven by a
   normalisation of non-food retail sales and a partial recovery
   of the travel agency division; de-consolidation of the
   insurance division in FY22

- EBITDA margin (including dividends received from the JVs
   Financiera ECI and Seguros) close to 6% in FY23 and
   progressively increasing towards 6.5% by FY26

- Capex of around EUR380 million in FY23, rebounding to 3% of
   revenue over FY24-FY26

- Modest working-capital inflows from FY23 to FY25

- Repurchase of 5.5% stake as treasury shares at recent market
   valuation

- Disposals of non-core real-estate assets of EUR450 million in
   FY23

- Dividends of EUR75 million in FY23, followed by a 40% payout to

   FY26

RATING SENSITIVITIES

Not applicable

LIQUIDITY AND DEBT STRUCTURE

Satisfactory Liquidity: At FYE22, ECI had EUR178 million in readily
available unrestricted cash, with liquidity supported by an undrawn
EUR1.1 billion RCF maturing in June 2025. In FY22, the company used
available cash to reduce its gross debt, including the repayment of
its EUR600 million bond at the Hipercor level. In addition, ECI has
retained good access to national commercial paper programmes.

In 1HFY23, ECI extended the maturity of its term loan A and RCF by
two years to 2027 and used the EUR1.1 billion sales proceeds of the
Mutua transaction to repay its bonds issued in 2018 and its loan
obtained in 2020 from Instituto de Crédito Oficial (ICO). Finally,
it used proceeds of a EUR600 million term loan C to refinance its
notes issued in 2020.

As a result of its debt restructuring, ECI has reduced its gross
debt and has no material new maturities until 2027.

ISSUER PROFILE

ECI is the largest department store chain in Spain and Europe,
operating 88 stores in Spain and two in Portugal. In addition, ECI
operates one of the leading retail and B2B travel agencies in
Spain.

                            Rating           Prior
                            ------           -----
El Corte Ingles, S.A.

                       LT IDR  BB+  Affirmed   BB+

                       LT IDR  WD   Withdrawn  BB+


SANTANDER HIPOTECARIO 3: Fitch Affirms Csf Ratings on 3 Tranches
----------------------------------------------------------------
Fitch Ratings has upgrade  four tranches of BBVA RMBS 1 and BBVA
RMBS 3, and five tranches of Santander Hipotecario 3 Spanish RMBS.
The remaining tranches have been affirmed. The Outlooks are Stable.


BBVA RMBS 1, FTA

  Class A3 ES0314147028  LT  A+sf   Affirmed  A+sf
  Class B ES0314147036   LT  A+sf   Upgrade   A-sf
  Class C ES0314147044   LT  BBsf   Upgrade   BB-sf

BBVA RMBS 2, FTA

  Class A3 ES0314148026  LT  A+sf   Affirmed  A+sf
  Class A4 ES0314148034  LT  A+sf   Affirmed  A+sf
  Class B ES0314148042   LT  A-sf   Affirmed  A-sf
  Class C ES0314148059   LT  BBB-sf Affirmed  BBB-sf

FTA, Santander Hipotecario 3

  Class A1 ES0338093000     LT BBBsf  Upgrade  BBsf
  Class A2 ES0338093018     LT BBBsf  Upgrade  BBsf
  Class A3 ES0338093026     LT BBBsf  Upgrade  BBsf
  Class B ES0338093034      LT CCCsf  Upgrade  CCsf
  Class C ES0338093042      LT CCsf   Upgrade  Csf
  Class D ES0338093059      LT Csf    Affirmed Csf
  Class E ES0338093067      LT Csf    Affirmed Csf
  Class F (RF) ES0338093075 LT Csf    Affirmed Csf

BBVA RMBS 3, FTA

A2 ES0314149016        LT BBBsf   Upgrade   BB+sf
B ES0314149032         LT CCCsf   Upgrade   CCsf
C ES0314149040         LT Csf     Affirmed  Csf

KEY RATING DRIVERS

Credit Enhancement to Increase: The rating actions reflect Fitch's
view that the notes are sufficiently protected by credit
enhancement (CE) to absorb the projected losses commensurate with
prevailing and higher rating scenarios, despite CE for BBVA 1 and 2
dropping due to the switch to pro-rata amortisation and reserve
fund (RF) amortisation.

Both transactions feature a reverse sequential mechanism that
envisages tranche thickness targets for the class B notes (9.6% for
BBVA 1, currently 16.1%, and 4.5% for BBVA 2, met) and class C
notes (6.8% for BBVA 1, currently 11.4%, and 4.0% for BBVA 2, met).
Fitch expects CE for BBVA 1 to decrease to around 20.3% for the
class B notes and 10.7% for the class C notes (currently 30.9% and
14.8%, respectively), when the thickness targets are met. Once the
targets are met, we expect CE levels to start increasing. For BBVA
3 and Santander 3, we expect CE to continue increasing given the
prevailing sequential amortisation of the notes.

Switch to Pro-Rata Amortisation: BBVA 1 and 2 notes' amortisation
switched to pro-rata with reverse sequential mechanism that
envisions tranche thickness targets since last review (Jun-22 and
Sep-21, respectively). Combined with RF amortisation, the switch
led to a short-term decrease in CE levels.

Weaker Than Expected Recoveries: Fitch has applied a 25% haircut to
the asset model estimated recovery rates (RR) for the BBVA RMBS
transactions, considering the record of cumulative recoveries on
defaults of about 34% as per the latest reporting date, which
compares with an average of about 65% for the rest of Fitch-rated
Spanish RMBS transactions. This is a variation from the European
RMBS Criteria and has a maximum model-implied rating impact of
minus four notches (BBVA 2's class B and C notes).

Payment Interruption Risk Caps Ratings: The transactions remain
exposed to unmitigated payment interruption risk in the event of a
servicer disruption, as Fitch deems the available structural
mitigants insufficient to cover stressed senior fees, net swap
payments and senior note interest due amounts while an alternative
servicer arrangement is implemented. As a result, the maximum
achievable rating remains 'A+sf', as per Fitch's Structured Finance
and Covered Bonds Counterparty Rating Criteria.

BBVA 1 and BBVA 2 have an Environmental, Social and Governance
(ESG) Relevance Score of '5' for Transaction & Collateral Structure
due to unmitigated payment interruption risk, which has a negative
impact on the credit profile, and is highly relevant to the rating,
resulting in a downward adjustment to the ratings of at least one
notch.

BBVA 3 has an ESG Relevance Score of '4' for Transaction &
Collateral Structure due to exposure to payment interruption risk,
which could have a negative impact on the credit profile and is
relevant to the ratings in conjunction with other factors. In
addition, it has an ESG Relevance Score of '4' for Transaction
Parties & Operational Risk due to the breach of account bank
replacement triggers, which has a negative impact on the credit
profile, and is relevant to the ratings in conjunction with other
factors.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

The transactions' performance may be affected by changes in market
conditions and economic environment. Weakening economic performance
is strongly correlated to increasing levels of delinquencies and
defaults that could reduce CE available to the notes. Unanticipated
declines in recoveries could also result in lower net proceeds,
which may make certain notes susceptible to negative rating action,
depending on the extent of the decline in recoveries.

Fitch conducts sensitivity analyses by stressing both a
transaction's base-case foreclosure frequency (FF) and RR
assumptions, and examining the rating implications on all classes
of issued notes. A 15% increase in WAFF and a 15% decrease in WARR
indicate downgrades of up to five notches on the notes.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

Stable to improved asset performance driven by stable delinquencies
and defaults would lead to increasing CE levels and, potentially,
upgrades. A decrease in WAFF of 15% and an increase in WARR of 15%
indicate upgrades of no more than three notches on the notes.

For the senior notes, improved liquidity protection against a
servicer disruption event. This because the ratings are currently
capped at 'A+sf' due to unmitigated payment interruption risk.




=====================
S W I T Z E R L A N D
=====================

CREDIT SUISSE: Fitch Lowers Subordinated Debt Rating to BB+
-----------------------------------------------------------
Fitch Ratings has downgraded Credit Suisse Group AG's Long-Term
Issuer Default Rating to 'BBB' from 'BBB+'. The Outlook is
Negative. Credit Suisse's Viability Rating (VR) has also been
downgraded to 'bbb' from 'bbb+'.

Fitch has also downgraded the Long-Term IDRs of Credit Suisse's
subsidiaries, Credit Suisse AG (CSAG), Credit Suisse International
(CSI), Credit Suisse (USA) Inc (CSUSA), Credit Suisse (Deutschland)
AG (CSD) and Credit Suisse Bank (Europe) S.A. (CSBE), and of Credit
Suisse AG New York branch (CSAG NY) to 'BBB+' from 'A-'. Credit
Suisse (Schweiz) AG's (CS Schweiz) Long-Term IDR has been
downgraded to 'A-' from 'A'. The Outlooks on these Long-Term IDRs
are Negative.

The downgrade follows Credit Suisse's announcement of a renewed
strategic review and weak 2Q22 results, which in Fitch's view
underline the challenges for the bank to stabilise its performance
and to create a business model that will generate adequate
profitability from its core wealth management franchise. The bank
plans to announce the outcome of its strategic review in 4Q22,
which Fitch expects to result in material restructuring charges at
a time when the bank's weak performance limits internal capital
generation.

The Negative Outlook reflects Fitch's view that a further
restructuring plan after the strategic review will give rise to
material execution risk, particularly if the restructuring requires
material costs given the bank's weak earnings generation. Failure
to stabilise the business model, to improve operating profitability
or to meet the commitment to maintain a common equity Tier 1 (CET1)
ratio of at least 13% would be negative for ratings.

KEY RATING DRIVERS

Weak Profitability: Credit Suisse's and CSAG's VRs are below their
'bbb+' implied VRs as the group's weak operating profitability has
a strong impact on Fitch's overall view of its credit profile. The
group's weak earnings profile reflects a weakened business model
and provides little buffer to fund the group's restructuring or to
protect capital from unexpected credit, market or operational
losses in a difficult environment.

The VRs also reflect the group's global wealth-management business
with a strong franchise but significantly weakened earnings in
1H22, its sound domestic franchise, adequate target capital ratios,
and sound asset quality in its loan book.

Rating Uplift to Opco: CSAG, the group's main operating company
(opco) has a Long-Term IDR one notch above its VR because of the
protection offered to its external senior creditors by buffers of
subordinated debt issued by the holding company (holdco), which
Fitch views as sustainable given resolution requirements for the
group.

Holdco Rating Equalised with Opco's: Credit Suisse's VR is
equalised with that of CSAG, reflecting moderate Fitch-calculated
common equity double leverage at Credit Suisse (117% at end-2021),
which Fitch expects to remain below 120%, and Fitch’s expectation
that the holdco's liquidity management will remain prudent.

Unstable Business Model: The decision to review Credit Suisse's
strategy for a second time in less than a year indicates material
pressure on the group's business model and challenges for
management to stabilise it. Fitch believes that a prolonged period
of restructuring exposes the group to the risk of a weakening
franchise and to significant execution risk in a weak operating
environment. However, over the longer term, a successful execution
of the new strategy should result in a simpler group and less
reliance on volatile earnings from the investment bank.

Risk Improvement Will Take Time: Risk exposures declined in 2021
and capital allocated to the investment bank will likely now be
reduced by more than was announced in 2021. Credit Suisse has
worked on strengthening its risk management and controls framework
since 2Q21, and governance remains one of the key areas of focus of
its strategic plan. Even so, Fitch expects that fully embedding an
improved risk culture will take some time and is likely to require
material further investments.

Strong Loan Quality: Fitch expects the quality of Credit Suisse's
loan book to remain strong. Fitch’s assessment of asset quality
includes the bank's sizeable non-loan exposures and its appetite
for underwriting positions, including in its leveraged-finance
business. During 2021, Credit Suisse reviewed its counterparty
exposure, and Fitch expects it to maintain a moderate appetite for
concentration risk.

Weak Operating Profitability: Following three quarterly losses
Credit Suisse announced a second strategic review to address
weaknesses in its business model, particularly in its investment
bank, and improve efficiency in a continued challenging operating
environment. Fitch expects Credit Suisse's profitability to remain
extremely weak in 2H22. Over the longer term, a further reduction
in the size of the investment bank should reduce earnings
volatility.

However, Fitch expects substantial restructuring costs to be
incurred and improvements in profitability are likely to take time
and carry substantial execution risk. While the bank should be able
to improve efficiency over time, Fitch believes that operating
expenses could continue to be affected by investments in risk and
compliance and further provisions for legal and regulatory
matters.

Weakened Internal Capital Generation: Credit Suisse's CET1 ratio
compares favourably with international peers', but the group's
internal capital generation has weakened considerably given its
weak earnings prospects and looming restructuring costs, increasing
risks to the group's capitalisation targets. Fitch expects updated
capital guidance after the publication of the new strategy plan but
expects the bank to operate with a CET1 ratio no lower than 13%.

Diversified Funding Base: Credit Suisse's funding benefits from its
global wealth-management franchise, which results in a sound
deposit base in addition to its domestic deposits. The group's
trading activities are carried out through a number of
international subsidiaries, which means that funding and liquidity
needs have to be coordinated across legal entities and geographies.
Credit Suisse manages and controls liquidity centrally for the
whole group.

Fitch's assessment of funding and liquidity (scored 'a-') drives
the higher of two applicable Short Term and debt ratings for Credit
Suisse (rated at F2) and the lower of two applicable Short-Term
IDRs and debt ratings of the group's operating companies (rated at
F2, except CS Schweiz, which is rated F1).

No Government Support: Credit Suisse's and CSAG's GSRs reflect
Fitch's view that senior creditors of both the holding company and
the operating bank cannot rely on receiving full extraordinary
support from the sovereign if the group becomes non-viable.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

Capitalisation: The ratings would come under pressure if Credit
Suisse's CET1 ratio drops below 13% during the restructuring
without a credible plan to restore the ratio swiftly, or if it
becomes unlikely that it will meet its medium-term target CET1
ratio of more than 14% pre-B3R. Fitch expects the bank to operate
with sound capital ratio targets given its wealth management
operations, but a sharp reduction of the targets would put pressure
on ratings.

Revised Strategy: The ratings would come under pressure if
management are unable to develop and demonstrate tangible progress
towards the implementation of a new strategic plan and maintain
reasonable operating performance in a challenging operating
environment.

Funding and Liquidity: A downgrade in the funding and liquidity
score to below 'a-' would lead to a downgrade of the Short-Term
IDRs.

Risk Governance: Fitch expects that risk governance will continue
to strengthen given the group's focus on risk culture. A material
governance failure would put ratings under pressure if it indicates
management's inability to execute on this part of its strategy.

Lasting Wealth-Management Franchise Erosion: The ratings would come
under further pressure if the group's wealth management franchise
suffers lasting damage, which could be the result of failing to
execute its new strategy.

Holdco Double Leverage: Fitch would likely downgrade Credit
Suisse's VR and Long-Term IDR by one notch if common equity double
leverage at the holdco exceeds 120%.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

Business Model Stabilisation: A revision of Outlook to Stable is
contingent on signs of successful implementation of the new
strategic plan, a stabilisation of the bank's business model and
adequate earnings generation.

Fitch could upgrade the ratings if the group establishes a clear
path to achieving an operating return of close to 1% of
risk-weighted assets (RWAs; 2021: 0.13%), the CET1 ratio increases
towards the target of 14% and if Fitch sees tangible evidence that
the bank's risk governance has been sufficiently strengthened.

OTHER DEBT AND ISSUER RATINGS: KEY RATING DRIVERS

Senior unsecured debt is rated in line with their respective
issuing entities' IDRs. Senior unsecured debt issued by Credit
Suisse Group Funding (Guernsey) Limited and guaranteed by Credit
Suisse is rated in line with the guarantor's IDR.

The Derivative Counterparty Rating (DCR) of CSAG is at the same
level as its Long-Term IDR because derivative counterparties in
Switzerland have no definitive preferential status over other
senior obligations in a resolution.

CSAG's subordinated Tier 2 debt is rated two notches below its VR
for poor recovery prospects, which is Fitch's baseline notching for
this type of debt.

Credit Suisse's additional Tier 1 (AT1) debt with fully flexible
coupons is rated four notches below the entity's VR. The notching
comprises two notches for loss severity, reflecting the notes' deep
subordination, and two notches for incremental non-performance risk
relative to the VR, due to fully discretionary coupon omission.

OTHER DEBT AND ISSUER RATINGS: RATING SENSITIVITIES

Senior debt and deposit ratings and DCRs (where assigned) would be
downgraded if their respective issuing entities' IDRs are
downgraded.

AT1 and Tier 2 debt would be downgraded if the relevant entities'
VRs are downgraded. Credit Suisse's AT1 debt could also be
downgraded if its non-performance risk relative to the VR
increases, for example, if Fitch no longer expect Credit Suisse to
be able to maintain capital buffers of at least 100bp of RWAs above
coupon restriction thresholds.

DCRs, senior debt and deposit ratings (where assigned) would be
upgraded if their respective issuing entities' IDRs are upgraded.

Tier 2 and AT1 debt would be upgraded if the respective issuing
entities' VRs are upgraded.

SUBSIDIARIES & AFFILIATES: KEY RATING DRIVERS

Credit Suisse (Schweiz) AG (CS Schweiz): This subsidiary of CSAG
houses the group's domestic retail- and commercial-banking and
wealth-management activities. CS Schweiz's VR is below its 'a-'
implied VR as Fitch believes that the group's business profile
(scored at 'bbb+'), which Fitch sees closely integrated with its
parent's in strategy and risk governance, has a strong impact on
Fitch’s overall view of CS Schweiz's credit profile.

The VR also reflects its low-risk domestic loan book, solid
profitability with reported profit set to benefit from lower
amortisation of intangibles, sound capitalisation and a strong
deposit franchise. The VR also factors in the high fungibility of
liquidity and capital between the two entities in the normal course
of business. These can result in material exposures to CSAG, making
it unlikely that CS Schweiz's VR would be rated above CSAG's
Long-Term IDR.

IDR Above VR: CS Schweiz's Long-Term IDR of 'A-' is one notch above
its VR because of significant buffers of junior and internal
bail-in debt that offer protection to senior creditors of CS
Schweiz in case of its failure. The DCR is at the same level as the
Long-Term IDR because derivative counterparties in Switzerland have
no definitive preferential status over other senior obligations in
a resolution.

Strong Support from Parent: CS Schweiz's SSR is equalised with
CSAG's Long-Term IDR and primarily reflects Fitch’s view of
support from the parent based on the entity being an integral part
of CSAG.

Other Subsidiaries: Credit Suisse International (CSI; based in the
UK), Credit Suisse (Deutschland) AG (CSD; based in Germany) and
Credit Suisse Bank (Europe) S.A. (CSBE; based in Spain) are
wholly-owned subsidiaries of CSAG. Credit Suisse (USA), Inc.
(CSUSA) is a US holding company directly held by Credit Suisse
Holdings (USA), Inc., the group's US intermediate holding company,
which is in turn owned by CSAG.

Their SSRs and Long-Term IDRs are equalised with CSAG's Long-Term
IDR and reflect Fitch’s view that these entities are extremely
likely to be supported by the parent, in case of need. Fitch views
these entities as integral to the group's business and core to
CSAG's strategy, and Fitch expects the parent to pre-place
resolution debt buffers into these entities where required.

New York Branch: The Credit Suisse AG New York branch's (CSAG NY)
IDRs are at the same level as those of CSAG because the branch is
part of the same legal entity and, in Fitch’s view, there are no
country risk restrictions. The alignment of IDRs reflects Fitch’s
view that senior creditors of the branch would be treated
identically to senior creditors of CSAG.

SUBSIDIARIES AND AFFILIATES: RATING SENSITIVITIES

CS Schweiz's Long- and Short-Term IDRs would be downgraded if its
VR is downgraded. Given the close links between CS Schweiz and
CSAG, a downgrade of CSAG's Long-Term IDR would likely result in a
downgrade of CS Schweiz's Long-Term IDR and VR.

Fitch could also downgrade CS Schweiz's ratings to the level of
CSAG's if Fitch no longer believes that its probability of failure
is lower than its parent's. This could be triggered by increasing
integration or by an increase in risk appetite in the businesses
managed outside the Swiss Bank division but on CS Schweiz's balance
sheet. On a standalone basis, CS Schweiz's VR has considerable
headroom to withstand weakening asset quality and capitalisation.

The Long-Term IDRs and SSRs of the other rated subsidiaries and of
CSAG NY would be downgraded if CSAG's Long-Term IDR is downgraded.
They could also be downgraded if Fitch no longer believes that
senior creditors would benefit from resolution buffers after a
failure of the group or if their role in the group becomes less
important, which Fitch does not expect.

CS Schweiz's Long-Term IDR and VR would only be upgraded if CSAG's
Long-Term IDR is upgraded and provided Fitch sees improved and
sustainable profitability at CS Schweiz with an operating
profit/RWA close to 2% while maintaining a conservative risk
appetite.

The Long-Term IDRs and SSRs of the other rated subsidiaries and of
CSAG NY would be upgraded if CSAG's Long-Term IDR is upgraded.

VR ADJUSTMENTS

The 'bbb' VRs of Credit Suisse and CSAG are below their 'bbb+'
implied VRs due to the following adjustment reasons: 'weakest link'
earnings and profitability (negative).

The 'bbb+' VR of Credit Suisse (Schweiz) AG is below its 'a-'
implied VR due to the following adjustment reason: business profile
(negative).

The 'bbb' business profile scores of Credit Suisse and CSAG are
below their 'a' implied scores due to the following reason:
strategy and execution (negative).

The 'bbb' business profile score of CS Schweiz is below its 'a'
implied score due to the following reason: group benefits and risks
(negative).

The 'a' asset quality scores of Credit Suisse, CSAG and CS Schweiz
are below their 'aa' implied scores due to the following reason:
non-loan exposures (negative).

The 'bbb+' capitalisation and leverage scores of Credit Suisse,
CSAG and CS Schweiz are below their 'a' implied scores due to the
following reason: internal capital generation and growth
(negative).

RATING ACTIONS

ENTITY/DEBT       RATING                          PRIOR
-----------       ------                          -----
Credit Suisse AG   LT IDR    BBB+ Downgrade        A-
          
                   ST IDR    F2   Downgrade        F1

                   Viability bbb  Downgrade        bbb+

                   DCR       BBB+(dcr) Downgrade   A-(dcr)

                   Government ns  Affirmed         ns
                   Support
  
  subordinated     LT        BB+  Downgrade        BBB-

  senior unsecured LT        BBB+(EXP) Downgrade   A-(EXP)

  senior unsecured LT        BBB+ Downgrade        A-

  senior unsecured ST        F2   Downgrade        F1

Credit Suisse
International      LT IDR    BBB+ Downgrade        A-

                   ST IDR    F2 Downgrade          F1

                   DCR       BBB+(dcr) Downgrade   A-(dcr)

                   Shareholder bbb+ Downgrade      a-
                   Support
  
  senior unsecured LT        BBB+ Downgrade        A-

  senior unsecured ST        F2   Downgrade        F1

Credit Suisse      
(USA), Inc.        LT IDR    BBB+ Downgrade        A-

                   ST IDR    F2   Downgrade        F1

                   Shareholder  bbb+ Downgrade     a-
                   Support

  senior unsecured LT        BBB+ Downgrade        A-

Credit Suisse
(Deutschland) AG   LT IDR    BBB+ Downgrade        A-

                   ST IDR    F2   Downgrade        F1

                   Shareholder bbb+ Downgrade      a-
                   Support

long-term         LT        BBB+ Downgrade        A-
deposits

short-term        ST        F2   Downgrade        F1
deposits

Credit Suisse
Group AG           LT IDR    BBB  Downgrade        BBB+

                   ST IDR    F2   Affirmed         F2

                   Viability bbb  Downgrade        bbb+

                   Government ns  Affirmed         ns
                   Support

subordinated      LT        BB-  Downgrade        BB

senior unsecured  LT        BBB  Downgrade        BBB+

senior unsecured  ST        F2   Affirmed         F2

Credit Suisse NY   LT IDR    BBB+ Downgrade        A-

                   ST IDR    F2   Downgrade        F1

senior unsecured  ST        F2   Downgrade        F1

Credit Suisse
Group Funding
(Guernsey) Limited

senior unsecured  LT        BBB  Downgrade        BBB+

senior unsecured  ST        F2   Affirmed         F2

Credit Suisse      LT IDR    A-   Downgrade        A
(Schweiz) AG

                   ST IDR    F1   Affirmed         F1

                   Viability   bbb+  Downgrade     a-

                   DCR       A-(dcr) Downgrade     A(dcr)

                   Shareholder bbb+  Downgrade     a-
                   Support  

Credit Suisse      LT IDR    BBB+ Downgrade        A-
Bank (Europe) S.A.

                   ST IDR    F2   Downgrade        F1

                   DCR       BBB+(dcr) Downgrade   A-(dcr)

                   Shareholder bbb+  Downgrade     a-
                   Support




===========================
U N I T E D   K I N G D O M
===========================

CINEWORLD: Mulls Large Capital Restructuring Amid Debt Woes
-----------------------------------------------------------
Oliver Barnes and Mark Wembridge at The Financial Times report that
Cineworld is considering a large capital restructuring to save the
highly indebted cinema chain, as it warned of sluggish ticket sales
owing to a lack of blockbuster movies.

According to the FT, the world's second-largest cinema company told
shareholders on Aug. 17 to expect a "very significant dilution" in
stock price if it goes ahead with plans to "potentially restructure
its balance sheet through a comprehensive deleveraging
transaction".

The group, as cited by the FT, said it was "in active discussions
with various stakeholders and evaluating various strategic options"
to obtain additional liquidity and overhaul its balance sheet.

Cineworld also said despite the easing of Covid-19 trading
restrictions over the past year, cinema admission levels remained
"below expectations", the FT notes.  The company blamed the weak
admissions figures on a "limited film slate" that was anticipated
to continue until November this year, the FT recounts.  It said
that this would "negatively impact" trading and the group's
liquidity position over the period, the FT relays.

Shares in the London-listed group fell 41.2% to 12p in early
morning trading on Aug. 17 in response to the announcement, the FT
discloses.  The stock is down 63% year to date, the FT notes.  At
the end of December, Cineworld's net debt stood at just above US$5
billion, almost 25 times higher than its current market
capitalisation, the FT discloses.

According to the FT, Ivor Jones, an analyst at Peel Hunt, said the
announcement suggested the chain was pursuing "a major fix to the
underlying problems of the balance sheet" and not just "another
smaller fix".

Earlier this year, Cineworld averted bankruptcy for the second time
in two years despite facing an almost $1bn payout to Canadian rival
Cineplex in compensation for a botched acquisition, the FT
relates.

Cineworld is appealing against the court-awarded damages but
several lenders told the FT at the time that they expected the two
companies to strike a deal.  If Cineworld were to declare
insolvency, Cineplex would be one of the last creditors to be paid,
the FT says.

Mr. Jones added that a large restructuring of the company would be
"made difficult by relatively poor trading and a relatively complex
debt structure", the FT notes.

Cineworld operates 751 sites across 10 countries worldwide.  The
company owns the US-based Regal cinema chain, along with Cineworld
and Picturehouse in the UK and several other brands in eastern
Europe.

Covid trading restrictions over the past two years have coincided
with increased competition from streaming services, darkening the
outlook for the cinema industry, according to the FT.


DJS UK: Administrators Expect to Settle Complaints by Month-End
---------------------------------------------------------------
Darren Slade at Daily Echo reports that administrators dealing with
the affairs of a collapsed payday lender expect to start settling
complaints about mis-selling soon.

DJS (UK) Limited, trading as PiggyBank, was one of the UK's 10
biggest payday lenders and employed 57 people at Parkway House in
Avenue Road, Bournemouth, as of 2018.

It provided short-term loans of up to GBP1,500 at 0.8% interest per
day -- equivalent to an annual percentage rate (APR) of 1,270%.

It was suspended from lending for three months in 2018 when the
Financial Conduct Authority raised concerns about its checks on
whether customers could afford to repay their loans, Daily Echo
relates.  It went into administration in December 2019, Daily Echo
discloses.

Administrators believe 387,228 former customers may be entitled to
make a claim for redress over mis-selling, Daily Echo states.

There were 136 claims totalling GBP76,926 that were not settled
before the company went into administration.  Another 2,470
totalling GBP1.4 million have been upheld since then, Daily Echo
notes.

According to Daily Echo, the latest administrators' report,
covering December 2021 to June 2022, said: "The administrators will
now invite and agree claims from historic customers who have not
already submitted a claim in the administration.  The
administrators are not able to accurately estimate the level of
unsecured redress claims at this stage."

An online tool has been set up which will be used to categorise
each customer's case as eligible for redress, ineligible or
requiring manual review, Daily Echo discloses.

"The project continues and is anticipated to be concluded by the
end of August," Daily Echo quotes the report as saying.

The administrators will then be able to settle claims, either by
deducting compensation from people's outstanding loan amounts, or
by making a payment if the redress is greater than the outstanding
loan, Daily Echo states.

The report says there will be up to GBP600,000 for unsecured
creditors, but this will have to cover the costs of assessing the
redress claims and assessing the claims of other unsecured
creditors as well as any payout, Daily Echo notes.

Administrators have so far received claims totalling GBP1.6 million
from unsecured trade creditors, according to Daily Echo.


EUROSAIL-UK 07-4BL: Fitch Hikes Rating on Class E1c Debt to CCCsf
-----------------------------------------------------------------
Fitch Ratings has upgraded Eurosail-UK 07-3BL Plc's (ES07-3) class
B1a, B1c and D1a notes and upgraded the Eurosail-UK 07-4BL Plc
(ES07-4) class B1a, C1a and E1c notes. All other notes have been
affirmed with Stable Outlooks, and removed from Under Criteria
Observation (UCO).

Eurosail-UK 07-3 BL Plc

Class A3a XS0308666493  LT  AAAsf   Affirmed  AAAsf
Class A3c XS0308710143  LT  AAAsf   Affirmed  AAAsf
Class B1a XS0308672384  LT  AAAsf   Upgrade   AA+sf
Class B1c XS0308716421  LT  AAAsf   Upgrade   AA+sf
Class C1a XS0308673192  LT  A-sf    Affirmed  A-sf
Class C1c XS0308718047  LT  A-sf    Affirmed  A-sf
Class D1a XS0308673945  LT  B+sf    Upgrade   Bsf
Class E1c XS0308725844  LT  CCCsf   Affirmed  CCCsf  

Eurosail-UK 07-4 BL Plc
  
Class A3 XS1150797600   LT  AAAsf   Affirmed  AAAsf
Class A4 XS1150799481   LT  AAAsf   Affirmed  AAAsf
Class A5 XS1150799721   LT  AAAsf   Affirmed  AAAsf
Class B1a XS0311705759  LT  AAsf    Upgrade   A+sf
Class C1a XS0311708696  LT  BB+sf   Upgrade   B-sf
Class D1a XS0311713001  LT  B-sf    Affirmed  B-sf
Class E1c XS0311717416  LT  CCCsf   Upgrade   CCsf

TRANSACTION SUMMARY

The transactions comprise UK non-conforming mortgage loans
originated by Southern Pacific Mortgage Limited, Preferred
Mortgages Limited (both formerly wholly-owned subsidiaries of
Lehman Brothers), London Mortgage Company and Alliance and
Leicester Plc.

KEY RATING DRIVERS

Removed From UCO: In the update of its UK RMBS Rating Criteria on
May 23, 2022, Fitch updated its sustainable house price for each of
the 12 UK regions. The changes increased the multiple for all
regions other than North East and Northern Ireland, updated house
price indexation and updated gross disposable household income. The
sustainable house price is now higher in all regions except
Northern Ireland. This has a positive impact on recovery rates and
consequently Fitch's expected loss in UK RMBS transactions.

Fitch also reduced its foreclosure frequency assumptions for loans
in arrears based on a review of historical data from its UK RMBS
rated portfolio. The changes better align the assumptions with
observed performance in the expected case and incorporate a margin
of safety at the 'Bsf' level.

The updated criteria contributed to the rating actions and removal
of rating from UCO.

Change in Arrears Reporting Methodology: The servicer has updated
its arrears calculation methodology effective as of 1Q22. Rather
than determining the number of months in arrears by dividing a
borrower's arrears balance by the payment due, the servicer now
refers to number of full monthly payments missed. This may have
resulted in a reduction of the reported number of months in arrears
for some borrowers. As at June 2022, total arrears stood at 18.1%
and 19.5% for ES07-3 and ES07-4, respectively. Across both
transactions, this represents a decline in arrears from December
2021 of 2.7pp and 4.1 pp for ES07-3 and ES07-4, respectively.

Performance Adjustment Factor: The combination of the UK criteria
changes and the change in arrears reporting for the transaction
coupled with a stable constant default rate (CDR) resulted in a
higher ResiGlobal-calculated Performance Adjustment Factor compared
with the previous review for both transactions, leading to a
significantly higher weighted average foreclosure frequency (WAFF)
derived for the buy-to-let portion of both pools.

For this analysis, the PAF for both transactions was capped (at 82%
for ES07-3 and 73% for ES07-4, in line with last year's review) so
that the new arrears reporting methodology does not overly
influence the WAFF levels for both transactions. Fitch deems these
PAF levels and resulting WAFF as more representative of the
long-term performance of the transactions, and expected
performance.

Credit Enhancement Accumulation: Credit enhancement (CE) continues
to materially accumulate in ES07-3 as the transaction amortises
sequentially. CE for the senior notes (A3a/A3c) has increased to
53.2% compared with 41.7% at the last review in June 2021. In
contrast, ES07-4 is currently amortising pro-rata basis, resulting
in CE accumulating more slowly than ES07-3, unless the pro rata
trigger is breached and payments switch to sequential.

Ratings Lower than Model-implied: The ratings of ES07-3 class D1a
notes, and ES07-4 class B1a and C1a notes are one notch below their
respective model-implied ratings. This reflects Fitch's view that a
modest increase in arrears could result in lower model-implied
ratings than the current ratings in future analyses.

Payment Interruption Risk Mitigated: ES07-3 does not include a
dedicated liquidity facility to cover for interest shortfalls. A
reserve fund is in place which can also be used cover for credit
losses, which may not be able to cover payment interruption if it
has already been depleted due to poor asset performance.

Similarly, ES07-4's liquidity reserve fund is only available to the
class A3 notes. All other notes within the structure must rely on
the reserve fund for liquidity support to mitigate a payment
interruption risk event. Nevertheless, given the transaction's
extensive performance history Fitch does not expect the reserve
fund of either transaction to be drawn to cover for losses in the
short to medium term. We consider the reserve funds of both
transactions adequate to cover payment interruption risk.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

The transactions' performance may be affected by adverse changes in
market conditions and economic environment. Weakening economic
performance is strongly correlated to increasing levels of
delinquencies and defaults and could reduce CE available to the
notes.

Fitch conducted sensitivity analyses by stressing each
transaction's base case FF and recovery rate (RR) assumptions, and
examining the rating implications on all classes of issued notes. A
15% increase in WAFF and a 15% decrease in WARR could lead to
downgrades of up to four notches for the mezzanine and junior
tranches across both transactions.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

Stable to improved asset performance driven by stable delinquencies
and defaults would lead to increasing CE and potential upgrades.

Fitch tested an additional rating sensitivity scenario by applying
a decrease in the WAFF of 15% and an increase in the WARR of 15%.
The results indicate upgrades of up to six notches for the
mezzanine and junior tranches across all three transactions.


HAMMERSON PLC: Egan-Jones Retains BB Senior Unsecured Ratings
-------------------------------------------------------------
Egan-Jones Ratings Company, on August 11, 2022, retained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Hammerson plc.

Headquartered in London, United Kingdom, Hammerson plc invests in
and develops property.


HARVEST CLO XXIX: Fitch Assigns B-sf Rating to Class F Debt
-----------------------------------------------------------
Fitch Ratings has assigned Harvest CLO XXIX DAC final ratings.

RATING ACTIONS

ENTITY/DEBT        RATING                    PRIOR
-----------        ------                    -----
Harvest CLO
XXIX DAC

A XS2498562664     LT  AAAsf  New Rating     AAA(EXP)sf

B XS2498562748     LT  AAsf   New Rating     AA(EXP)sf

C XS2498562821     LT  Asf    New Rating     A(EXP)sf

D XS2498563043     LT  BBB-sf New Rating     BBB-(EXP)sf

E XS2498564108     LT  BB-sf  New Rating     BB-(EXP)sf

F XS2498563126     LT  B-sf   New Rating     B-(EXP)sf

Subordinated       LT  NRsf   New Rating     NR(EXP)sf
Notes
XS2498564280

Z XS2498563399     LT  NRsf   New Rating NR(EXP)sf

TRANSACTION SUMMARY

Harvest CLO XXIX DAC is a securitisation of mainly senior secured
obligations (at least 96%) with a component of senior unsecured,
mezzanine, second-lien loans, first-lien, last-out loans and
high-yield bonds. Note proceeds have been used to fund a portfolio
with a target par of EUR400 million. The portfolio is actively
managed by Investcorp Credit Management EU Limited. The
collateralised loan obligation (CLO) has a 4.45-year reinvestment
period and an 8.5-year weighted average life (WAL) test.

KEY RATING DRIVERS

Average Portfolio Credit Quality (Neutral): Fitch assesses the
average credit quality of obligors at 'B'/'B-'. The
Fitch-calculated weighted average rating factor (WARF) of the
identified portfolio is 25.45.

High Recovery Expectations (Positive): At least 96% of the
portfolio will comprise senior secured obligations. Fitch views the
recovery prospects for these assets as more favourable than for
second-lien, unsecured and mezzanine assets. The Fitch-calculated
weighted average recovery rate (WARR) of the identified portfolio
is 61.8%.

Diversified Portfolio (Positive): The transaction includes four
Fitch matrices: two effective at closing, corresponding to a top-10
obligor concentration limit at 20%, fixed-rate asset limits of 5%
and 10% and a maximum 8.5-year WAL test. The other two can be
selected by the manager at any time from one year after closing.

This is provided the portfolio balance (including defaulted
obligations at their Fitch-calculated collateral value) is above
target par and corresponding to the same limits as the closing
matrices except a maximum 7.5-year WAL test.

The transaction also includes various concentration limits,
including a maximum exposure to the three- largest Fitch-defined
industries in the portfolio at 40%. These covenants ensure that the
asset portfolio will not be exposed to excessive concentration.

Portfolio Management (Neutral): The transaction has a 4.45-year
reinvestment period and includes reinvestment criteria similar to
those of other European transactions. Fitch's analysis is based on
a stressed portfolio with the aim of testing the robustness of the
transaction structure against its covenants and portfolio
guidelines.

Cash Flow Modelling (Positive): The WAL used for the transaction's
stressed portfolio and matrices analysis is 12 months less than the
WAL covenant. This is to account for structural and reinvestment
conditions after the reinvestment period, including the
over-collateralisation and Fitch 'CCC' limitation tests, among
other factors. Fitch believes these conditions would reduce the
effective risk horizon of the portfolio during the stress period.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- An increase of the default rate (RDR) at all rating levels by
    25% of the mean RDR and a decrease of the recovery rate (RRR)
    by 25% at all rating levels will result in downgrades of no
    more than four notches, depending on the notes.

-- Downgrades may occur if the loss expectation is larger than
    initially assumed, due to unexpectedly high levels of defaults

    and portfolio deterioration.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- A reduction of the RDR at all rating levels by 25% of the mean

    RDR and an increase in the RRR by 25% at all rating levels
    would result in upgrades of up to three notches depending on
    the notes, except for the class A notes, which are already at
    the highest rating on Fitch's scale and therefore cannot be
    upgraded.

-- Upgrades except for the class A notes may occur on better-
    than-expected portfolio credit quality and deal performance,
    leading to higher credit enhancement and excess spread
    available to cover losses in the remaining portfolio.


P&O FERRIES: Insolvency Service Won't Launch Criminal Proceedings
-----------------------------------------------------------------
Michael O'Dwyer at The Financial Times reports that the UK
Insolvency Service has decided not to launch criminal proceedings
against P&O Ferries over its sacking of nearly 800 workers earlier
this year after concluding there was "no realistic prospect of a
conviction".

P&O sparked public outcry in March when it dismissed hundreds of
sailors without any prior warning or consultation, the FT recounts.
Many staff found out they were being made redundant via a video
message, the FT notes.

The ferry operator replaced the sacked crew members with staff on
more flexible contracts, the FT discloses.  The replacement staff
are paid an average of GBP5.50 per hour, well below the UK's
minimum wage but legal because the crew work offshore, the FT
states.

Business secretary Kwasi Kwarteng had instructed the Insolvency
Service to investigate whether the company had committed any
criminal offences in the case, the FT relates.

"After a full and robust criminal investigation into the
circumstances surrounding the employees who were made redundant by
P&O Ferries, we have concluded that we will not commence criminal
proceedings," the FT quotes the Insolvency Service as saying on
Aug. 19.

The Insolvency Service said its investigation had been reviewed by
an independent prosecution lawyer in accordance with normal
practice in such cases, the FT notes.  It is still carrying out a
separate civil investigation, the FT states.


PAYSAFE GROUP: Moody's Cuts CFR to B2 & Alters Outlook to Stable
----------------------------------------------------------------
Moody's Investors Service has downgraded Paysafe Group Holdings II
Limited's (Paysafe or the company) corporate family rating to B2
from B1 and probability of default rating to B2-PD from B1-PD.
Concurrently, Moody's has downgraded to B2 from B1 the ratings on
the senior secured bank credit facilities and backed senior secured
notes borrowed at subsidiaries Paysafe Holdings (US) Corp., Paysafe
Holdings UK Limited and Paysafe Finance PLC. The outlook on all
ratings has changed to stable from negative.

"The downgrade to B2 largely reflects Moody's expectation of weaker
operating performance over 2022-2023 as a result of macroeconomic
and regulatory challenges which will affect the company's operating
environment" says Luigi Bucci, Moody's lead analyst for Paysafe.
 

"We anticipate a broad recovery in revenue and EBITDA over 2023
after the lows noted in 2022. However, credit metrics will continue
to remain outside of the requirements for a B1 rating with
Moody's-adjusted leverage likely to stand at around 7x-8x in 2022
and 6x-7x in 2023" adds Mr Bucci.

RATINGS RATIONALE

The B2 CFR of Paysafe reflects (1) its geographical diversification
of earnings, with presence across the US, Europe and Latin America;
(2) positive growth dynamics from the deregulation of online gaming
in the US market; and (3) good liquidity supported by solid free
cash flow (FCF) generation and access to its $305 million senior
secured revolving credit facility (RCF).

Conversely, Paysafe's CFR is constrained by (1) Moody's expectation
that the company's Moody's-adjusted leverage will remain high at
around 6x-7x over the next 12-18 months; (2) macroeconomic
challenges which will limit the company's growth prospects in both
Digital Commerce and US Acquiring divisions; and (3) socially
driven regulatory risks related to the company's exposure to online
gambling.

The rating action reflects Moody's anticipation that operating
performance will be weaker than previously expected over the
remainder of 2022 and 2023. This is mainly because of the weakening
macroeconomic environment which will reduce consumer spending
together with the risk for additional regulatory scrutiny in
Europe. While previous company estimates were anticipating a
recovery of Digital Commerce in the second part of 2022 as the
impact from regulation in Germany and Netherlands will subside, the
overall recovery will be weaker. Similarly, the US acquiring
business will gradually slow-down its revenue growth trajectory
over the second part of the year after having posted strong growth
during the first half.

Moody's expects Paysafe's revenues to be broadly flat in 2022
before growing in the mid-single digit percentages over 2023. When
excluding the impact from M&A, revenue growth in 2022 would be
negative due to the strengthening of the US Dollar versus the Euro
in which Paysafe generates a large portion of its earnings. The
rating agency also forecasts company-adjusted EBITDA,
pre-restructuring costs and share based payments, to grow towards
$440 million in 2023 from around $400 million in 2022 (2021: $444
million).

Moody's estimates the company's Moody-adjusted leverage to stand at
around 7.5x in 2022 before reducing towards 6.5x in 2023 (2021:
7.0x). As per management guidance, these levels assume debt
repayments using the excess cash flow of the business. The rating
agency forecasts Moody's-adjusted FCF/debt to stand in the
mid-single digit and mid-to-high single digit percentages over 2022
and 2023, respectively. After the acquisitions completed over the
past 12 months, Moody's current estimates do not factor in any
debt-funded M&A.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS

Paysafe has meaningful exposure to customers in the gaming industry
which is identified as having high social risk in Moody's ESG
framework. Gambling addiction and elevated potential for crime
(such as money laundering) are the main drivers of high social
credit risk in the gaming sector. Another key risk area for the
sector is security of the large amounts of customer data. The
company has an established framework to manage cyber risk,
including third-party security assessments and insurance coverage.

In terms of governance, after closing of the SPAC transaction 2021
private equity funds CVC and Blackstone are the largest
shareholders in the company with a stake of approximately 40%. The
remaining shareholders are largely represented by private investors
and Cannae Holdings, Inc. Moody's also notes management changes
after the profit warning in November 2021.

Paysafe remains committed to its long-term leverage target of 3.5x.
This level, however, continues to be only aspirational in the
mid-term in the rating agency's view given the ongoing operating
performance challenges that the company is facing.

LIQUIDITY

Moody's views Paysafe's liquidity as good, based on the company's
cash flow generation, available cash resources of $244 million as
of June 2022 and a $305 million committed RCF ($36 million drawn),
as well as a long-dated maturity profile. The rating agency expects
the company to continue generating positive FCF through 2023,
supporting the liquidity of the business.

The RCF has a springing financial maintenance covenant (net senior
secured leverage ratio) set at 7.5x, only tested on a quarterly
basis when the RCF is drawn by more than 40%.

STRUCTURAL CONSIDERATIONS

The instrument ratings on the backed senior secured notes as well
as the senior secured term loan and RCF rank in line with the CFR,
reflecting the pari-passu nature of Paysafe's capital structure.

The instruments are guaranteed by material subsidiaries
representing a minimum of 80% of consolidated EBITDA and security
includes shares, intercompany receivables, and, solely with respect
to English guarantors, a floating charge over its assets for the
senior secured term loan/RCF and all material assets and a floating
charge over substantially all of the English guarantors' assets and
undertakings for the backed senior secured notes. Moody's sees the
security package as weak overall.

RATIONALE FOR STABLE OUTLOOK

The stable outlook reflects Moody's view that operating performance
will gradually improve after 2022. The stable outlook also
envisages Moody's-adjusted leverage in the 6x-7x range, as well as
no transformational debt-funded acquisition or shareholder
distribution.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Although unlikely in the short term given the recent downgrade,
upward rating pressure could arise if (1) the group maintains its
Moody's-adjusted gross leverage sustainably below 5.5x; (2)
Moody's-adjusted FCF/debt improves to the high single digit
percentages; and (3) the company were to demonstrate a solid
track-record of commitment to a conservative financial policy.

Moody's would consider a rating downgrade if Paysafe were to
continue experiencing weaknesses in its core segments after 2022.
Negative pressure would arise if (1) Moody's-adjusted leverage
remains over 7x on a sustainable basis; or (2) Moody's-adjusted FCF
turns negative; or (3) liquidity weakens.

LIST OF AFFECTED RATINGS

Downgrades:

Issuer: Paysafe Finance PLC

BACKED Senior Secured Regular Bond/Debenture, Downgraded to B2
from B1

Issuer: Paysafe Group Holdings II Limited

Probability of Default Rating, Downgraded to B2-PD from B1-PD

LT Corporate Family Rating, Downgraded to B2 from B1

Issuer: Paysafe Holdings (US) Corp.

Senior Secured Bank Credit Facility, Downgraded to B2 from B1

BACKED Senior Secured Regular Bond/Debenture, Downgraded to B2
from B1

Issuer: Paysafe Holdings UK Limited

Senior Secured Bank Credit Facility, Downgraded to B2 from B1

Outlook Actions:

Issuer: Paysafe Finance PLC

Outlook, Changed To Stable From Negative

Issuer: Paysafe Group Holdings II Limited

Outlook, Changed To Stable From Negative

Issuer: Paysafe Holdings (US) Corp.

Outlook, Changed To Stable From Negative

Issuer: Paysafe Holdings UK Limited

Outlook, Changed To Stable From Negative

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Business and
Consumer Services published in November 2021.

COMPANY PROFILE

Headquartered in London, Paysafe is a global provider of online
payment solutions and stored-value products operating in the United
States, Europe and Asia. Over 2021, Paysafe generated net revenues
and company-adjusted EBITDA of $1.5 and $0.4 billion, respectively.
Paysafe is listed on the New York Stock Exchange since 2021.

SIG PLC: Egan-Jones Retains B+ Senior Unsecured Ratings
-------------------------------------------------------
Egan-Jones Ratings Company, on August 9, 2022, retained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by SIG plc.

Headquartered in Sheffield, United Kingdom, SIG plc distributes
specialty building products.


SPEEDCLAD: Enters Administration, 44 Jobs Affected
--------------------------------------------------
Alex Turner at TheBusinessDesk.com reports that a specialist
contractor which worked on the refurbishment of Birmingham's
Symphony Hall has collapsed into administration with the loss of 44
jobs.

Facade specialist Speedclad had been a profitable business before
the pandemic, generating GBP1 million profit on revenues of GBP22
million in the year to January 2020, TheBusinessDesk.com
discloses.

Its profits then fell 90% in the following year, as revenues dipped
to GBP19 million through the first year of the Covid-19 pandemic,
TheBusinessDesk.com states.

As the economic backdrop became tougher, one of its major contracts
became loss-making, which had a "profound impact" on working
capital, TheBusinessDesk.com notes.

This exacerbated problems caused by "a number of postponed or
abandoned contracts, supply chain challenges, material and labour
shortages, and rising prices", TheBusinessDesk.com relays.

The business had employed around 80 people last year.  But 44 staff
have now been made redundant with a "small number" kept on to
support the administrators, TheBusinessDesk.com relates.

According to TheBusinessDesk.com, James Lumb and Howard Smith from
Interpath Advisory were appointed joint administrators after rescue
efforts failed.  They are now seeking a buyer for the business, its
assets and intellectual property, TheBusinessDesk.com states.

Mr. Lumb warned that Speedclad's failure "is symptomatic of the
growing challenges facing the construction sector, particularly
cladding and facades businesses", TheBusinessDesk.com notes.

He added: "Speedclad is historically profitable and has delivered
notable projects such as the facades at the Wellington Place office
development in Leeds.  The company is a well-respected business
with strong goodwill in the market from customers, suppliers and
other stakeholders.

"Whilst we are hopeful of finding a solution for Speedclad, its
administration suggests that other strong businesses could be
facing similar challenges."


TESCO PLC: Egan-Jones Retains BB+ Senior Unsecured Ratings
----------------------------------------------------------
Egan-Jones Ratings Company, on August 11, 2022, retained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Tesco PLC.

Headquartered in Welwyn Garden City, United Kingdom, Tesco PLC,
through its subsidiaries, operates as a food retailer.


TRAFFORD CENTRE: S&P Lowers Cl. D3 Notes Rating to 'BB (sf)'
------------------------------------------------------------
S&P Global Ratings lowered its credit ratings on Trafford Centre
Finance Ltd.'s class A2 and A3 notes to 'A (sf)' from 'A+ (sf)',
class B, B2, and B3 notes to 'BBB+ (sf)' from 'A- (sf)', and class
D1(N), D2, and D3 notes to 'BB (sf)' from 'BB+ (sf)'.

S&P's ratings in this transaction address the timely payment of
interest, payable quarterly in arrears, and the payment of
principal no later than the legal final maturity dates.

Rating rationale

S&P said, "S&P downgrades follow our updated review of the
transaction's credit and cash flow characteristics. We believe that
the retail sector is still suffering from structural changes, and
with energy prices expected to continue to rise in the near term
this could put pressure on retailers and consumers.

"Specifically, we have revised our S&P Global Ratings value to
GBP802.4 million, which is 15% lower than at our prior review in
February 2021. At the same time, the transaction has paid down by
GBP55.4 million and assumed hedge break costs in our analysis are
now lower due to the current higher interest rate environment."

Transaction overview

The Trafford Centre Finance is a single loan transaction secured on
the Trafford Centre, a regional shopping center on the outskirts of
Manchester.

The loan within this transaction is divided into eight sub-tranches
that match each class of notes issued. Five of the tranches (A2, B,
B3, D2, and D3) have been issued on a fixed interest rate basis,
while the remaining (A3, B2, and D1(N)) notes pay a floating
interest rate. The notes' legal final maturity dates range between
October 2022 and July 2038.

The loan benefits from scheduled amortization over the
transaction's life. The class A2, B, D1(N), and D2 notes are fully
amortizing notes, and the class A3 notes have partial amortization
with a bullet payment at maturity. The class B2, B3, and D3
sub-tranches are interest-only.

Transaction performance

S&P said, "Since we last took rating action in February 2021, the
December 2020 market value of GBP965.0 million was released,
indicating a decline of 39% from the December 2019 market value of
GBP1,582.0 million. Over the same period, the estimated rental
value decreased by 24% to GBP70.9 million from GBP93.4 million.
Between September 2020 and June 2022, physical vacancy increased to
17.0% from 7.3%. According to the June 15, 2022 rent roll, total
passing rent now stands at GBP61.1 million.

"In recent years, an increasing number of retailers have suffered
financial difficulties, which was exacerbated by the effects of the
COVID-19 pandemic. We believe the environment remains challenging
for retail tenants, and with energy prices expected to continue to
rise in the near term this could put pressure on both retailers and
consumers.

"In light of the increasingly weak macroeconomic outlook and
property performance, we have revised our rent and vacancy
assumptions. We have assumed a rent per square foot of GBP38.0,
equal to the average rent on leases entered into in 2022. Our 17%
vacancy assumption reflects the current vacancy level. This results
in our S&P Global Ratings net cash flow of GBP54.9 million, which
is lower than the current reported net rental income of GBP60.9
million. As a result, we have lowered our S&P Global Ratings value
by 15% to GBP802.4 million from GBP950.0 million."

  Table 2

  S&P Global Ratings' Key Assumptions

                REVIEW               CURRENT     PREVIOUS REVIEW
                                                 IN FEBRUARY 2021

  Rent fully let (mil. GBP)           68.3        76.0
  Rent per square foot (GBP)          38.0        42.3
  Vacancy (%)                           17          10
  Non-recoverable expenses (%)         7.5         7.5
  Turnover rent (mil. GBP)             2.5         1.7
  Net cash flow (mil. GBP)           54.90        65.0
  Value (mil. GBP)                   802.4       950.0
  Cap rate (%)                        6.50        6.50
  Haircut-to-market value (%)           17*         40§

*Based on the then most recent reported market value, dated
December 2019 (GBP1,582.0 million)
§Based on the most recent reported market value, dated December
2020 (GBP965.0 million)

Other analytical considerations

S&P said, "Our ratings analysis also includes an analysis of the
transaction's payment structure and cash flow mechanics. We assess
whether the cash flow from the securitized assets would be
sufficient, at the applicable rating levels, to make timely
payments of interest and ultimate repayment of principal by the
legal maturity date for each class of notes, after taking into
account available credit enhancement and allowing for transaction
expenses and external liquidity support."

The risk of interest shortfalls is mitigated by an GBP80 million
facility that provides liquidity support to service the interest
and certain scheduled principal repayments on the class A and B
notes, if needed. The class D notes also benefit from the same
facility; however, it is subject to a GBP15 million utilization
cap, which, for the class D2 notes, may be made to cover a
shortfall of interest and scheduled principal, and for the class
D1(N) and D3 notes, may be made to cover a shortfall of interest
only.
The reported debt service coverage ratio (DSCR) as of June 30, 2022
is 0.87x, which is down from 0.93x for the previous quarter. The
DSCR had been generally improving over the last year, but has been
less than 1x since the quarter ending Dec. 31, 2019. As of June 30,
2022, the interest coverage ratio was 1.61x, down from 1.70x for
the previous quarter. The interest coverage has started to recover
since March 2021, and has been above 1x since June 2021.

S&P said, "We believe that CPPIB is continuing to cover the cash
flow shortfalls to meet the debt payments on each class of notes.
We also continue to believe that, due to certain structural
features in the transaction, the class D notes are vulnerable to an
interest shortfall. These structural features are the liquidity
facility's obligation to draw down for scheduled principal as well
as interest, which is relatively uncommon compared with most CMBS
transactions, and the utilization cap for these classes of notes.
We have therefore continued to notch down from our model output to
reflect this cash flow risk as in our previous review.

"Our analysis also considers break costs where the default or
enforcement of a loan would result in the termination of interest
rate swaps and result in hedge break costs. In this transaction,
there are three swaps covering the class A3, B2, and D1 notes. Our
calculated hedge break costs are lower than at our previous review
given the current interest rate environment. Hedge break costs are
generally higher in low interest rate environments because the swap
counterparty is more significantly in the money. When interest
rates rise, the risk of hedge break costs therefore reduces. The
declining remaining term under the swaps also has a positive impact
on the calculation.

Furthermore, our analysis also included a full review of the legal
and regulatory risks, operational and administrative risks, and
counterparty risks. Our assessment of these risks remains unchanged
since our previous review and is commensurate with the ratings
assigned.

Rating actions

S&P said, "Our ratings in this transaction address the timely
payment of interest, payable quarterly in arrears, and the payment
of principal no later than the legal final maturity dates.

"In our view, the transaction's credit quality has declined since
our previous review. We believe the economic environment remains
challenging for retail tenants, and we have factored this into our
analysis with our lower S&P Global Ratings NCF and value.

"The S&P Global Ratings LTV ratio has increased to 76.5% from 70.4%
since our previous review. Together with transaction-level
considerations, we have therefore lowered our ratings on class A2
and A3 notes to 'A (sf)' from 'A+ (sf)', class B, B2, and B3 notes
to 'BBB+ (sf)' from 'A- (sf)', and class D1(N), D2, and D3 notes to
'BB (sf)' from 'BB+ (sf)'."

Environmental, social, and governance (ESG) credit factors for this
change in credit rating/Outlook and/or CreditWatch status:

-- Health and safety


WPP PLC: Egan-Jones Retains BB Senior Unsecured Ratings
-------------------------------------------------------
Egan-Jones Ratings Company, on August 9, 2022, retained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by WPP PLC.

Headquartered in London, United Kingdom, WPP PLC operates a
communications services group.




===============
X X X X X X X X
===============

[*] BOND PRICING: For the Week August 15 to August 19, 2022
-----------------------------------------------------------
Issuer                Coupon Maturity Currency Price
------                ------  -------- ------- -----
Vedanta Resources Ltd   6.12508/09/2024  USD   66.542
Gol Finance SA          7.0001/31/2025   USD   63.682
Atento Luxco 1 SA       8.00002/10/2026  USD   57.981
Casino Guichard Perrac  4.49803/07/2024  EUR   74.319
Gazprom PJSC Via Gaz C  1.45003/06/2023  CHF   50.000
Atos SE                 1.00011/12/2029  EUR   65.293
NAK Naftogaz Ukraine v  7.3757/19/2024   USD   23.000
Ukraine Government Int  7.75009/01/2024  USD   33.791
VTR Finance NV          6.3757/15/2028   USD   47.508
Casino Guichard Perrac  5.2504/15/2027   EUR   59.409
Accentro Real Estate A  3.6252/13/2023   EUR   52.667
Vedanta Resources Fina  9.2504/23/2026   USD   66.221
Casino Guichard Perrac  6.6251/15/2026   EUR   64.335
Teva Pharmaceutical Fi  4.10010/01/2046  USD   71.524
Castellum AB            3.125            EUR   70.584
Ulker Biskuvi Sanayi A  6.95010/30/2025  USD   72.898
Banca Monte dei Paschi  5.3751/18/2028   EUR   51.358
Aragvi Finance Interna  8.4504/29/2026   USD   69.853
Voltalia SA             1.0001/13/2025   EUR   27.913
VEON Holdings BV        3.37511/25/2027  USD   52.750
CECONOMY AG             1.7506/24/2026   EUR   74.083
NAK Naftogaz Ukraine v  7.1257/19/2026   EUR   20.000
Ukraine Government Int  6.7506/20/2028   EUR   21.247
Romanian Government In  3.3751/28/2050   EUR   66.804
ADLER Group SA          2.2501/14/2029   EUR   51.416
ING Groep NV            4.250            USD   73.250
Lukoil International F  4.75011/02/2026  USD   75.000
Gazprom PJSC Via Gaz C  3.12511/17/2023  EUR   41.753
Atos SE                 2.50011/07/2028  EUR   70.148
Casino Guichard Perrac  3.58002/07/2025  EUR   66.673
Jababeka International  6.50010/05/2023  USD   46.611
Maxeda DIY Holding BV   5.87510/01/2026  EUR   74.422
Poste Italiane SpA      2.625            EUR   72.267
Corestate Capital Hold  3.5004/15/2023   EUR   20.532
Trinseo Materials Oper  5.12504/01/2029  USD   71.335
EnfraGen Energia Sur S  5.37512/30/2030  USD   73.492
Casino Guichard Perrac  3.992            EUR   37.422
Ukreximbank Via Biz Fi  9.7501/22/2025   USD   30.000
Lukoil Securities BV    3.87505/06/2030  USD   70.000
Lukoil Capital DAC      3.60010/26/2031  USD   55.500
Gazprom PJSC Via Gaz C  5.15002/11/2026  USD   52.000
Lukoil Capital DAC      2.8004/26/2027   USD   61.500
Casino Guichard Perrac  3.022            EUR   21.734
Gazprom PJSC via Gaz F  4.599            USD   20.000
Gol Finance SA          8.0006/30/2026   USD   72.999
Aggregate Holdings SA   6.87511/09/2025  EUR   37.003
Eurotorg LLC Via Bonit  9.00010/22/2025  USD   48.360
Gazprom PJSC via Gaz F  2.9501/27/2029   USD   27.925
Credit Suisse Group AG  4.500            USD   72.394
Casino Guichard Perrac  4.04808/05/2026  EUR   62.041
Ukraine Government Int  7.75009/01/2025  USD   27.907
Russian Foreign Bond - 12.7506/24/2028   USD   52.424
Banco Santander SA      3.625            EUR   72.298
Heimstaden Bostad AB    2.625            EUR   74.359
GOL Equity Finance SA   3.7507/15/2024   USD   57.500
Samhallsbyggnadsbolage  2.875            EUR   46.964
Ukraine Government Int  4.3751/27/2032   EUR   19.576
Banca Monte dei Paschi 10.5007/23/2029   EUR   58.520
Phosagro OAO Via Phosa  3.0501/23/2025   USD   49.000
Heimstaden AB           6.750            EUR   64.582
Nobel Bidco BV          3.1256/15/2028   EUR   72.972
Russian Foreign Bond -  4.3753/21/2029   USD   43.836
Ukraine Government Int  7.75009/01/2029  USD   23.544
Gazprom PJSC via Gaz F  3.2502/25/2030   USD   49.920
NAK Naftogaz Ukraine v  7.62511/08/2028  USD   21.725
Mitsubishi UFJ Investo  4.13712/15/2050  EUR   33.976
Credit Suisse Group AG  5.100            USD   74.095
EP Infrastructure AS    2.04510/09/2028  EUR   69.450
Sigma Holdco BV         5.7505/15/2026   EUR   64.638
NPC Ukrenergo           6.87511/09/2028  USD   17.416
Carnival PLC            1.00010/28/2029  EUR   56.682
Heimstaden Bostad AB    3.625            EUR   74.369
MHP Lux SA              6.95004/03/2026  USD   42.485
Russian Foreign Bond -  5.62504/04/2042  USD   40.858
Hellenic Republic Gove  1.8751/24/2052   EUR   64.950
Anadolu Efes Biracilik  3.3756/29/2028   USD   72.354
Russian Railways Via R  2.10010/02/2023  CHF    4.937
EP Infrastructure AS    1.81603/02/2031  EUR   63.786
Russian Foreign Bond -  4.8759/16/2023   USD   53.812
Russian Foreign Bond -  4.7505/27/2026   USD   45.520
Air France-KLM          0.1253/25/2026   EUR   15.848
Gazprom PJSC via Gaz F  3.0006/29/2027   USD   49.642
Ukraine Government Int  6.8765/21/2031   USD   20.175
State of North Rhine-W  0.95001/10/2121  EUR   52.360
Phosagro OAO Via Phosa  2.6009/16/2028   USD   49.103
Serbia International B  2.12512/01/2030  USD   74.609
Kernel Holding SA       6.75010/27/2027  USD   37.471
Gazprom PJSC Via Gaz C  2.9491/24/2024   EUR   39.434
La Banque Postale SA    3.000            EUR   73.267
CPI Property Group SA   4.875            EUR   71.137
Sarens Finance Co NV    5.7502/21/2027   EUR   67.908
Kernel Holding SA       6.50010/17/2024  USD   40.923
Heimstaden Bostad AB    3.000            EUR   72.476
Gazprom PJSC via Gaz F  1.5002/17/2027   EUR   33.430
Gazprom PJSC via Gaz F  3.897            EUR   17.419
Vonovia SE              1.62509/01/2051  EUR   63.548
Intesa Sanpaolo SpA     4.95006/01/2042  USD   71.831
Accor SA                0.70012/07/2027  EUR   43.534
Metro Bank PLC          5.5006/26/2028   GBP   55.611
Mallinckrodt Internati 10.0006/15/2029   USD   46.615
Romanian Government In  2.7504/14/2041   EUR   64.544
Fastighets AB Balder    2.87306/02/2081  EUR   69.270
Gazprom PJSC Via Gaz C  4.25004/06/2024  GBP   50.255
Gazprom PJSC Via Gaz C  7.2888/16/2037   USD   48.190
Hacienda Investments L  5.35002/08/2028  USD   10.001
MHP SE                  7.75005/10/2024  USD   44.294
Gazprom PJSC Via Gaz C  2.5003/21/2026   EUR   49.086
Phosagro OAO Via Phosa  3.9494/24/2023   USD   56.675
Republic of Belarus In  6.8752/28/2023   USD   17.244
Romanian Government In  2.0004/14/2033   EUR   71.319
Russian Foreign Bond -  4.2506/23/2027   USD   45.831
Zorlu Yenilenebilir En  9.00006/01/2026  USD   73.197
SBB Treasury Oyj        0.75012/14/2028  EUR   63.766
Ekosem-Agrar AG         2.5007/31/2029   EUR   25.776
Novolipetsk Steel Via   1.45006/02/2026  EUR   51.186
Samhallsbyggnadsbolage  1.00008/12/2027  EUR   67.991
Korian SA               0.87503/06/2027  EUR   44.632
State Agency of Roads   6.2506/24/2030   USD   15.917
Audax Renovables SA     4.20012/18/2027  EUR   74.285
ADLER Group SA          1.5007/26/2024   EUR   64.447
Gazprom PJSC via Gaz F  3.5007/14/2031   USD   46.531
Serbia International B  1.65003/03/2033  EUR   65.487
SBB Treasury Oyj        1.12511/26/2029  EUR   63.801
Samhallsbyggnadsbolage  2.625            EUR   47.801
Gazprom PJSC via Gaz F  1.5406/30/2027   CHF   37.988
Metinvest BV            5.6256/17/2025   EUR   39.960
Bulgaria Government In  1.3759/23/2050   EUR   72.372
HOCHTIEF AG             1.25009/03/2031  EUR   73.077
Citycon Oyj             3.625            EUR   61.051
ADLER Real Estate AG    3.0004/27/2026   EUR   71.779
Eustream AS             1.6256/25/2027   EUR   67.743
Credit Suisse Group AG  3.000            CHF   74.967
United Kingdom Gilt     1.12510/22/2073  GBP   63.841
Ukraine Railways Via R  8.25007/09/2024  USD   20.881
Heimstaden Bostad AB    3.375            EUR   74.573
Republic of Belarus In  7.6256/29/2027   USD   11.851
Banca Monte dei Paschi  8.0001/22/2030   EUR   53.630
Gazprom PJSC Via Gaz C  2.25011/22/2024  EUR   38.889
Gazprom PJSC Via Gaz C  8.6254/28/2034   USD   48.759
Samhallsbyggnadsbolage  2.624            EUR   48.108
Odea Bank AS            8.60608/01/2027  USD   65.351
Metinvest BV            8.5004/23/2026   USD   40.500
Severstal OAO Via Stee  3.1509/16/2024   USD   10.001
Hungary Government Bon  3.25010/22/2031  HUF   72.586
Metinvest BV            7.7504/23/2023   USD   47.500
Air Baltic Corp AS      6.7507/30/2024   EUR   73.117
Tinkoff Bank JSC Via T  6.000            USD   31.138
Romanian Government In  2.8754/13/2042   EUR   64.849
Just Eat Takeaway.com   0.62502/09/2028  EUR   62.116
Intesa Sanpaolo SpA     4.125            EUR   73.014
Corestate Capital Hold  1.37511/28/2022  EUR   19.771
Polyus Finance PLC      3.25010/14/2028  USD   44.500
VF Ukraine PAT via VFU  6.20002/11/2025  USD   50.323
CPI Property Group SA   3.750            EUR   57.849
Korian SA               1.875            EUR   32.953
CaixaBank SA            3.625            EUR   74.173
Raiffeisen Bank Intern  4.500            EUR   68.231
Citycon Oyj             4.496            EUR   74.317
Nostrum Oil & Gas Fina  8.0007/25/2022   USD   25.250
ADLER Group SA          1.8751/14/2026   EUR   54.667
Hungary Government Int  0.50011/18/2030  EUR   74.588
Novolipetsk Steel Via   4.7005/30/2026   USD   52.729
Rothschild & Co Contin  1.763            USD   75.526
Credit Suisse Group AG  0.6251/18/2033   EUR   68.886
Russian Foreign Bond -  2.87512/04/2025  EUR   40.149
Russian Foreign Bond -  5.8759/16/2043   USD   52.152
Consus Real Estate AG   4.00011/29/2022  EUR   66.926
Frigoglass Finance BV   6.87502/12/2025  EUR   53.541
Romanian Government In  2.62512/02/2040  EUR   64.731
ams-OSRAM AG            2.12511/03/2027  EUR   73.402
Takko Luxembourg 2 SCA  5.37511/15/2023  EUR   68.399
Ideal Standard Interna  6.3757/30/2026   EUR   59.625
Gazprom PJSC Via Gaz C  4.95002/06/2028  USD   33.500
Prosus NV               2.7781/19/2034   EUR   73.996
Standard Profil Automo  6.2504/30/2026   EUR   56.577
International Consolid  1.1255/18/2028   EUR   70.241
IWG International Hold  0.50012/09/2027  GBP   68.328
Russian Railways Via R  2.2005/23/2027   EUR   10.008
VEON Holdings BV        4.00004/09/2025  USD   63.661
HSE Finance Sarl        5.62510/15/2026  EUR   73.558
Orpea SA                2.00004/01/2028  EUR   66.103
BUPA Finance PLC        4.000            GBP   72.715
United Kingdom Gilt     0.8751/31/2046   GBP   70.038
Spain Government Bond   1.45010/31/2071  EUR   62.081
Ocado Group PLC         0.7501/18/2027   GBP   71.636
Herens Midco Sarl       5.2505/15/2029   EUR   74.083
HSE Finance Sarl        6.08310/15/2026  EUR   72.980
Russian Foreign Bond -  2.6505/27/2036   EUR   41.859
Hungary Government Bon  2.2504/20/2033   HUF   62.575
Czech Republic Governm  1.5004/24/2040   CZK   68.887
Global Ports Finance P  6.5009/22/2023   USD   15.000
NGD Holdings BV         6.75012/31/2026  USD   39.916
Fnac Darty SA           0.2503/23/2027   EUR   66.431
Development Bank of th  6.75005/02/2024  USD   11.543
Scandinavian Airlines   0.625            CHF   12.229
Cardea Europe AG        7.25012/08/2023  EUR   54.873
Bellis Finco PLC        4.0002/16/2027   GBP   69.991
Delivery Hero SE        2.12503/10/2029  EUR   69.793
Russian Railways Via R  0.89810/03/2025  CHF    5.000
Wuestenrot & Wuerttemb  2.12509/10/2041  EUR   73.661
Sigma Holdco BV         7.8755/15/2026   USD   61.941
Moby SpA                7.7502/15/2023   EUR   65.858
Gazprom PJSC Via Gaz C  4.9503/23/2027   USD   30.000
Republic of Belarus In  6.3782/24/2031   USD   12.333
Severstal OAO Via Stee  5.90010/17/2022  USD    9.237
Iceland Bondco PLC      4.3755/15/2028   GBP   73.582
Republic of Belarus In  5.8752/24/2026   USD   13.333
Andrade Gutierrez Inte  9.50012/30/2024  USD   51.250
Metinvest BV            7.75010/17/2029  USD   41.000
CTP NV                  1.5009/27/2031   EUR   69.107
Republic of Armenia In  3.60002/02/2031  USD   71.375
Gazprom PJSC via Gaz F  2.9504/15/2025   EUR   49.256
Russian Railways Via R  5.70004/05/2022  USD    6.398
Banca Monte dei Paschi  8.50009/10/2030  EUR   56.554
Gazprom PJSC via Gaz F  1.85011/17/2028  EUR   47.446
MMC Norilsk Nickel OJS  6.62510/14/2022  USD   66.500
Boparan Finance PLC     7.62511/30/2025  GBP   74.182
SPP-Distribucia AS      1.00006/09/2031  EUR   64.562
Signa Development Fina  5.5007/23/2026   EUR   72.625
ADLER Group SA          2.2504/27/2027   EUR   52.567
Dtek Renewables Financ  8.50011/12/2024  EUR   32.758
Mobilux Finance SAS     4.2507/15/2028   EUR   74.633
Metalloinvest Finance   3.37510/22/2028  USD   25.000
Deutsche Bahn Finance   0.62512/08/2050  EUR   62.741
Neoen SA                2.00006/02/2025  EUR   53.386
Enel Finance Internati  0.8756/17/2036   EUR   70.752
VEON Holdings BV        4.9506/16/2024   USD   72.605
Russian Foreign Bond -  1.85011/20/2032  EUR   39.020
Gazprom PJSC Via Gaz C  4.3643/21/2025   EUR   49.898
Mithra Pharmaceuticals  4.25012/17/2025  EUR   73.487
ADLER Group SA          3.25008/05/2025  EUR   57.600
University of Oxford    2.54412/08/2117  GBP   74.424
Russian Railways Via R  0.84003/12/2026  CHF    5.000
Pro-Gest SpA            3.25012/15/2024  EUR   74.433
Novatek OAO Via Novate  4.42212/13/2022  USD   50.682
Castellum Helsinki Fin  0.8759/17/2029   EUR   72.502
Electricite de France   2.00012/09/2049  EUR   74.102
Rallye SA               4.3712/28/2032   EUR   12.020
MMK International Capi  4.3756/13/2024   USD   27.250
Eurochem Finance DAC    5.5003/13/2024   USD   37.108
Kleopatra Holdings 2 S  6.50009/01/2026  EUR   70.083
Lithuania Government I  0.5007/28/2050   EUR   55.979
Imerys SA               1.0007/15/2031   EUR   74.156
PB International BV     7.62512/31/2025  USD   43.639
Yandex NV               0.7509/13/2022   USD   70.208
CPI Property Group SA   1.5001/27/2031   EUR   71.976
State of North Rhine-W  1.4501/19/2122   EUR   69.298
Neoen SA                1.87510/07/2024  EUR   45.381
Borets Finance DAC      6.0009/17/2026   USD   33.837
Russian Railways Via R  7.4873/25/2031   GBP   16.385
GTLK Europe Capital DA  4.3492/27/2029   USD   15.258
Sberbank of Russia Via  5.12510/29/2022  USD    9.600
Just Group PLC          5.000            GBP   72.526
Biocartis Group NV      4.00005/09/2024  EUR   66.445
ADLER Group SA          2.75011/13/2026  EUR   53.700
VTR Finance NV          6.3757/15/2028   USD   49.298
SEB SA                  2.37511/25/2022  EUR   20.010
Vnesheconombank Via VE  6.80011/22/2025  USD    5.438
Vonovia SE              1.5006/14/2041   EUR   68.696
Saxa Gres Spa           7.00008/04/2026  EUR   23.903
Czech Gas Networks Inv  0.45009/08/2029  EUR   67.592
Delivery Hero SE        1.5001/15/2028   EUR   72.050
Sweden Government Bond  1.3756/23/2071   SEK   74.729
HOCHDORF Holding AG     2.500            CHF   51.664
MorphoSys AG            0.62510/16/2025  EUR   70.015
Czech Gas Networks Inv  0.8753/31/2031   EUR   63.223
Balder Finland Oyj      1.3755/24/2030   EUR   72.942
NET4GAS sro             3.5007/28/2026   EUR   64.794
Just Eat Takeaway.com   1.2504/30/2026   EUR   71.775
Prosus NV               3.83202/08/2051  USD   67.608
MHP Lux SA              6.2509/19/2029   USD   42.131
MMC Norilsk Nickel OJS  4.10004/11/2023  USD   56.462
ALROSA Finance SA       3.1006/25/2027   USD   10.284
Arrival SA              3.50012/01/2026  USD   34.832
Prosus NV               2.03108/03/2032  EUR   72.946
Novolipetsk Steel Via   4.5006/15/2023   USD   55.000
Lukoil Capital DAC      3.60010/26/2031  USD   51.500
Bank Gospodarstwa Kraj  2.12506/05/2030  PLN   74.394
Russian Railways Via R  3.125            CHF    5.751
BNP Paribas SA          2.8241/26/2041   USD   71.730
Becton Dickinson Euro   1.3368/13/2041   EUR   72.437
GTLK Europe Capital DA  4.8002/26/2028   USD   16.349
Sanctuary Capital PLC   2.3754/14/2050   GBP   72.943
ADLER Group SA          2.00011/23/2023  EUR   64.957
VTB Bank OJSC Via VTB   6.95010/17/2022  USD    5.882
VTB Bank PJSC Via VTB   9.500            USD    6.962
Haya Holdco 2 PLC       9.00011/30/2025  EUR   63.738
Rusal Capital DAC       4.85002/01/2023  USD   41.964
Nostrum Oil & Gas Fina  7.0002/16/2025   USD   25.040
Rothschild & Co Contin  1.700            EUR   67.879
Societe Generale SA     4.0271/21/2043   USD   72.593
Enel SpA                1.875            EUR   72.863
Mondelez International  1.25009/09/2041  EUR   73.088
Prosus NV               1.9857/13/2033   EUR   70.551
Mallinckrodt Internati 10.0004/15/2025   USD   71.948
Raiffeisen Bank Intern  1.3756/17/2033   EUR   73.190
ALROSA Finance SA       4.65004/09/2024  USD   12.129
Hungary Government Bon  2.0005/23/2029   HUF   69.048
Royalty Pharma PLC      3.35009/02/2051  USD   71.346
Berkeley Group PLC/The  2.50008/11/2031  GBP   74.416
Ozon Holdings PLC       1.8752/24/2026   USD   37.000
Ekosem-Agrar AG         8.50012/07/2022  EUR   26.493
Vonovia Finance BV      1.0001/28/2041   EUR   62.804
Paragon GmbH & Co KGaA  4.0004/23/2023   CHF   52.500
BAT International Fina  2.25009/09/2052  GBP   50.912
VEON Holdings BV        3.37511/25/2027  USD   47.500
Atento Luxco 1 SA       8.00002/10/2026  USD   59.471
Offshore Drilling Hold  8.3759/20/2020   USD    4.750
Ukreximbank Via Biz Fi 10.42602/09/2023  USD   25.000
Alfa Bank AO Via Alfa   5.9504/15/2030   USD    7.556
Evraz PLC               5.25004/02/2024  USD   49.527
Russian Foreign Bond -  1.12511/20/2027  EUR   41.211
Credit Bank of Moscow   3.8759/21/2026   USD   20.337
Sibur Securities DAC    3.4509/23/2024   USD   33.117
Ukreximbank Via Biz Fi  9.95011/14/2029  USD   37.000
Lloyds Banking Group P  3.36912/14/2046  USD   71.872
Prosus NV               4.02708/03/2050  USD   68.316
Pierre Et Vacances SA   2.00004/01/2023  EUR   29.609
Ukraine Railways Via R  7.8757/15/2026   USD   21.381
CPI Property Group SA   4.875            EUR   71.213
Nexity SA               0.25003/02/2025  EUR   59.551
Wirecard AG             0.50009/11/2024  EUR   12.161
Engie SA                1.875            EUR   74.878
BICO Group AB           2.8753/19/2026   SEK   59.881
Cellnex Finance Co SA   3.87507/07/2041  USD   71.271
Rallye SA               4.0002/28/2032   EUR   12.782
Bank Gospodarstwa Kraj  2.37511/27/2040  PLN   57.811
Sibur Securities DAC    2.95007/08/2025  USD   29.806
ABH Financial Ltd Via   2.87511/09/2022  CHF
Vnesheconombank Via VE  6.02507/05/2022  USD    4.437
Intelsat Jackson Holdi  9.7507/15/2025   USD    1.773
Credit Bank of Moscow   7.50010/05/2027  USD    9.370
MMC Norilsk Nickel OJS  2.80010/27/2026  USD   50.165
Korian SA               2.25010/15/2028  EUR   74.442
Tinkoff Bank JSC Via T  9.250            USD   10.000
Intelsat Jackson Holdi  5.50008/01/2023  USD    1.773
Hungary Government Bon  1.5008/26/2026   HUF   74.359
Russian Railways Via R  4.60003/06/2023  EUR   10.000
Metinvest BV            7.65010/01/2027  USD   41.471
Wellcome Trust Ltd/The  1.5007/14/2071   GBP   59.620
Annington Funding PLC   2.92410/06/2051  GBP   70.648
Polyus Finance PLC      4.7001/29/2024   USD   47.380
National Grid Electric  0.87211/26/2040  EUR   68.178
Evraz PLC               5.3753/20/2023   USD   50.000
GTLK Europe Capital DA  4.65003/10/2027  USD   15.375
Gol Finance SA          8.0006/30/2026   USD   73.006
Vnesheconombank Via VE  5.94211/21/2023  USD    5.240
Fuerstenberg Capital I  5.625            EUR   57.082
Royalty Pharma PLC      3.55009/02/2050  USD   73.727
Aedifica SA             0.75009/09/2031  EUR   74.564
Intelsat Jackson Holdi  8.50010/15/2024  USD    1.773
GOL Equity Finance SA   3.7507/15/2024   USD   52.250
Maisons du Monde SA     0.12512/06/2023  EUR   46.739
EnBW International Fin  0.50003/01/2033  EUR   74.196
Credit Bank of Moscow   8.875            USD   12.546
Hungary Government Bon  2.2506/22/2034   HUF   59.975
Ilija Batljan Invest A  7.343            SEK   39.677
CM.com NV               2.00009/09/2026  EUR   69.030
Credit Bank of Moscow   3.1001/21/2026   EUR   19.970
MMC Norilsk Nickel OJS  3.37510/28/2024  USD   51.929
Wellcome Trust Ltd/The  2.51702/07/2118  GBP   73.411
Desenio Group AB        6.15412/16/2024  SEK   53.605
Bank Gospodarstwa Kraj  2.2507/21/2033   PLN   68.870
Samhallsbyggnadsbolage  4.841            SEK   60.229
MMC Norilsk Nickel OJS  2.55009/11/2025  USD   51.710
Polyus Finance PLC      5.25002/07/2023  USD   47.997
Hacienda Investments L  5.0752/15/2023   USD   12.045
Slovakia Government Bo  1.00010/13/2051  EUR   67.864
Evan Group PLC          6.0007/31/2022   EUR   24.000
PIK Securities DAC      5.62511/19/2026  USD    9.011
Russian Railways Via R  4.37503/01/2024  USD   20.358
Medtronic Global Holdi  1.62510/15/2050  EUR   72.060
Sovcombank Via SovCom   3.4001/26/2025   USD    5.294
Terragon AG             6.5005/24/2024   EUR    5.000
Enel Finance Internati  0.8759/28/2034   EUR   74.901
Czech Republic Governm  0.05011/29/2029  CZK   74.446
Sberbank of Russia Via  5.2505/23/2023   USD   11.009
Phosagro OAO Via Phosa  2.6009/16/2028   USD   54.000
Mobile Telesystems OJS  5.0005/30/2023   USD   25.270
TenneT Holding BV       0.50011/30/2040  EUR   69.087
Lukoil Capital DAC      2.8004/26/2027   USD   74.750
Lukoil Securities BV    3.87505/06/2030  USD   70.500
Nexity SA               0.8754/19/2028   EUR   44.027
GTLK Europe Capital DA  5.9504/17/2025   USD   14.358
Enel Finance Internati  2.87507/12/2041  USD   68.493
SCF Capital Designated  3.8504/26/2028   USD   19.768
Saderea DAC            12.50011/30/2026  USD   69.340
Linde PLC               1.0009/30/2051   EUR   64.631
Global Fashion Group S  1.2503/15/2028   EUR   70.050
GTLK Europe DAC         5.1255/31/2024   USD   15.632
Interpipe Holdings PLC  8.3755/13/2026   USD   44.750
Credit Bank of Moscow   7.625            USD   14.827
State of North Rhine-W  1.3751/15/2120   EUR   64.361
MMK International Capi  4.3756/13/2024   USD   20.000
Credit Bank of Moscow   4.7001/29/2025   USD   24.991
TMK OAO Via TMK Capita  4.30002/12/2027  USD   16.598
BAE Systems PLC         3.0009/15/2050   USD   74.398
BP Capital Markets BV   1.4679/21/2041   EUR   72.888
Credit Bank of Moscow   5.1502/20/2024   EUR   20.857
Orsted AS               2.5002/18/3021   GBP   74.021
Novolipetsk Steel Via   4.0009/21/2024   USD   52.814
GTLK Europe Capital DA  4.9492/18/2026   USD   15.204
BAT International Fina  2.0003/13/2045   EUR   60.819
SABIC Capital I BV      3.0009/14/2050   USD   74.722
Takko Luxembourg 2 SCA  5.69611/15/2023  EUR   68.534
Genfit                  3.50010/16/2025  EUR   27.580
Trinseo Materials Oper  5.12504/01/2029  USD   68.413
NPC Ukrenergo           6.87511/09/2028  USD   17.775
Engie SA                1.25010/24/2041  EUR   68.997
Econocom Group SA/NV    0.50003/06/2023  EUR    7.869
EnBW Energie Baden-Wue  2.1258/31/2081   EUR   71.922
Societe Generale SA     3.62503/01/2041  USD   69.246
Gol Finance SA          7.0001/31/2025   USD   63.211
Nederlandse Waterschap  0.5004/26/2051   EUR   68.273
Rickmers Holding AG     8.87506/11/2018  EUR    1.502
Ukraine Government Int  7.75009/01/2024  USD   33.346
VEON Holdings BV        4.00004/09/2025  USD   64.250
Delete Group Oyj        5.0724/19/2024   EUR   67.636
O1 Properties Finance   0.5009/27/2028   USD    6.505
BNP Paribas SA          2.8241/26/2041   USD   70.947
JAB Holdings BV         2.25012/19/2039  EUR   71.890
Offentliga Hus I Norde  7.701            SEK   62.088
Sovcombank Via SovCom   7.600            USD    4.321
Travelex Financing PLC  8.0005/15/2022   EUR    0.241
K2A Knaust & Andersson  7.227            SEK   73.510
Volkswagen Internation  1.5001/21/2041   EUR   70.962
Lukoil International F  4.75011/02/2026  USD   70.250
SRV Group Oyj           4.875            EUR   55.000
Engie SA                1.00010/26/2036  EUR   74.167
SRV Group Oyj           4.875            EUR   52.500
Air Berlin PLC          8.2504/19/2018   EUR    0.450
BP Capital Markets BV   0.93312/04/2040  EUR   67.918
Hellenic Bank PCL      10.000            EUR   55.285
Hylea Group SA          7.25012/01/2022  EUR    1.550
Banco Espirito Santo S  7.12511/28/2023  EUR    0.185
Koninklijke Luchtvaart  0.750            CHF   19.500
Shell International Fi  0.87511/08/2039  EUR   72.431
AstraZeneca PLC         2.12508/06/2050  USD   68.659
Home Credit & Finance   8.800            USD    8.286
Russian Agricultural B  8.50010/16/2023  USD    9.953
BAT International Fina  4.00011/23/2055  GBP   64.265
Sanctuary Capital PLC   2.3754/14/2050   GBP   73.080
Credit Suisse Group AG  5.100            USD   76.605
DNB Bank ASA            0.929            USD   71.154
EnfraGen Energia Sur S  5.37512/30/2030  USD   73.728
Stichting Afwikkeling   6.25010/26/2020  EUR   45.248
Russian Railways Via R  1.19504/03/2028  CHF    8.697
Credit Bank of Moscow   5.5502/14/2023   USD   23.194
Amprion GmbH            0.6259/23/2033   EUR   74.893
Karlou BV               7.7506/18/2024   USD   14.305
Ulker Biskuvi Sanayi A  6.95010/30/2025  USD   72.812
Schlote Holding GmbH    6.75011/21/2024  EUR   74.619
Credit Agricole SA      2.81101/11/2041  USD   70.959
Union Fenosa Preferent  1.439            EUR   67.420
Societe Generale SA     4.0271/21/2043   USD   70.575
Chelyabinsk Pipe Plant  4.5009/19/2024   USD   15.115
Autonomous Community o  2.96509/08/2039  JPY   67.913
Ukraine Government Int  7.2533/15/2035   USD   22.545
JT International Finan  3.3009/14/2051   USD   66.934
Nederlandse Waterschap  0.3759/28/2046   EUR   69.496
FIGEAC-AERO             1.75010/18/2028  EUR   22.221
Land Berlin             0.6251/26/2052   EUR   70.219
JAB Holdings BV         3.7505/28/2051   USD   69.249
Altarea SCA             1.7501/16/2030   EUR   72.758
Suek Securities DAC     3.3759/15/2026   USD   10.050
Ukraine Government Bon 11.1508/26/2022   UAH   74.750
Slovenia Government Bo  0.68803/03/2081  EUR   45.071
Idavang A/S             7.57111/11/2025  EUR   67.526
Debenhams PLC           5.2507/15/2021   GBP    0.324
Lehman Brothers UK Cap  5.125            EUR   13.466
DNB Bank ASA            0.954            USD   71.051
Slovenia Government Bo  0.48810/20/2050  EUR   59.659
Lithuania Government I  0.7507/15/2051   EUR   59.768
Russian Foreign Bond -  5.2506/23/2047   USD   38.923
Gazprom PJSC Via Gaz C  4.95002/06/2028  USD   39.000
Samhallsbyggnadsbolage  2.8741/30/2027   SEK   71.832
Unibail-Rodamco-Westfi  1.75007/01/2049  EUR   61.459
National Grid Electric  2.0004/17/2040   GBP   72.486
Motability Operations   1.5001/20/2041   GBP   73.137
Hacienda Investments L  5.35002/08/2028  USD    9.946
Vonovia Finance BV      1.62510/07/2039  EUR   70.844
Ukraine Government Bon  9.7905/26/2027   UAH   46.371
Ukraine Government Int  7.75009/01/2027  USD   23.222
Societe Generale SA     3.62503/01/2041  USD   68.823
Rusal Capital DAC       5.30005/03/2023  USD   40.612
Ukraine Government Bon 16.0009/27/2023   UAH   60.961
Vonovia Finance BV      1.1259/14/2034   EUR   74.850
NAK Naftogaz Ukraine v  7.62511/08/2028  USD   21.542
Gazprom PJSC Via Gaz C  4.9503/23/2027   USD   47.454
Intu Debenture PLC      5.56212/31/2027  GBP   41.000
DNB Bank ASA            1.848            USD   71.253
FF Group Finance Luxem  1.75007/03/2019  EUR    4.500
Senvion Holding GmbH    3.87510/25/2022  EUR    0.255
Holcim Finance Luxembo  1.37510/08/2036  EUR   70.504
Sibur Securities DAC    4.12510/05/2023  USD   30.515
Midland Heart Capital   1.83108/12/2050  GBP   66.071
Phosagro OAO Via Phosa  3.0501/23/2025   USD   50.000
Croatia Government Bon  1.25003/03/2040  EUR   73.648
Rallye SA               3.2502/28/2032   CHF   12.383
EA Partners II BV       6.75006/01/2021  USD    0.389
Credit Suisse Group AG  4.500            USD   71.250
Russian Foreign Bond -  4.8759/16/2023   USD   53.812
Vier Gas Transport Gmb  0.50009/10/2034  EUR   66.913
Ukraine Government Int  4.3751/27/2032   EUR   19.743
Sovcombank Via SovCom   7.750            USD    3.171
Luzerner Kantonalbank   0.15010/07/2044  CHF   72.488
Wendel SE               1.3751/18/2034   EUR   73.234
Privatbank CJSC Via UK 10.2501/23/2018   USD    3.044
Euronext NV             1.5005/17/2041   EUR   72.616
Hellenic Republic Gove  2.0857/25/2057   EUR   36.446
Alno AG                 8.5005/14/2018   EUR   14.713
Gazprom PJSC via Gaz F  4.599            USD   19.559
Mallinckrodt Internati 10.0006/15/2029   USD   46.945
Sovcombank Via SovCom   8.00004/07/2030  USD    3.666
Anchor Hanover Group    2.0007/21/2051   GBP   67.929
Russian Foreign Bond -  5.8759/16/2043   USD   52.152
Thomas Cook Finance 2   3.8757/15/2023   EUR    1.429
de Volksbank NV         0.3759/16/2041   EUR   72.922
PREOS Global Office Re  7.50012/09/2024  EUR   71.500
Ukraine Government Int  6.8765/21/2031   USD   22.205
BPCE SA                 3.58210/19/2042  USD   74.080
Ukreximbank Via Biz Fi  9.7501/22/2025   USD   31.026
Deutsche Wohnen SE      1.30004/07/2041  EUR   62.600
Aragvi Finance Interna  8.4504/29/2026   USD   70.687
Ukraine Government Bon 15.9704/19/2023   UAH   74.750
Nationwide Building So  0.50005/05/2041  EUR   74.685
Russian Foreign Bond -  4.2506/23/2027   USD   45.831
Alfa Bank AO Via Alfa   5.900            USD    7.975
Societe Nationale SNCF  1.0001/19/2061   EUR   58.342
PJSC Koks via IMH Capi  5.9009/23/2025   USD    8.019
DOF Subsea AS           9.5009/30/2022   USD   70.198
Nestle Finance Interna  0.37512/03/2040  EUR   69.790
VEON Holdings BV        4.9506/16/2024   USD   80.000
Avangardco Investments 10.00010/29/2018  USD    0.348
InterCement Financial   5.7507/17/2024   USD   74.667
Shell International Fi  1.75009/10/2052  GBP   60.895
Russian Foreign Bond -  5.1003/28/2035   USD   47.257
Accentro Real Estate A  4.1253/23/2026   EUR   56.000
Mitsubishi UFJ Investo  4.25212/30/2099  EUR    5.237
Intesa Sanpaolo SpA     2.62503/11/2036  GBP   72.443
Alfa Bank AO Via Alfa   6.950            USD    7.766
Metinvest BV            8.5004/23/2026   USD   39.980
FF Group Finance Luxem  3.25011/02/2021  CHF    5.398
Celtic Resources Holdi  4.12510/09/2024  USD   11.263
Phosagro OAO Via Phosa  3.9494/24/2023   USD   56.675
State Agency of Roads   6.2506/24/2030   USD   14.750
University College Lon  1.62506/04/2061  GBP   66.027
Thomas Cook Group PLC   6.2506/15/2022   EUR    0.271
ABH Financial Ltd Via   2.70006/11/2023  EUR    5.698
SCF Capital Designated  5.3756/16/2023   USD   20.000
Rallye SA               1.0002/28/2032   EUR   15.674
Mallinckrodt Internati  4.7504/15/2023   USD   38.170
Metinvest BV            7.7504/23/2023   USD   47.250
Societe Nationale SNCF  0.8752/28/2051   EUR   64.230
BNP Paribas SA          1.575            USD   71.614
Vnesheconombank Via VE  6.80011/22/2025  USD    5.438
Ukraine Government Bon 14.91010/12/2022  UAH   74.750
European Financial Sta  0.7001/17/2053   EUR   69.255
Tinkoff Bank JSC Via T  6.000            USD   31.138
United Kingdom Gilt     1.2507/31/2051   GBP   73.729
Gazprom PJSC via Gaz F  3.5007/14/2031   USD   46.531
Bayer AG                1.00001/12/2036  EUR   74.237
City of Lugano Switzer  0.15011/28/2070  CHF   48.936
European Financial Sta  0.7001/20/2050   EUR   71.857
Sigma Holdco BV         7.8755/15/2026   USD   62.208
State of North Rhine-W  0.5001/15/2052   EUR   66.824
Pentracor GmbH          8.5005/29/2025   EUR   10.480
Russian Foreign Bond - 12.7506/24/2028   USD   52.424
Rallye SA               4.0002/28/2032   CHF   12.000
Clarion Funding PLC     1.87509/07/2051  GBP   64.535
Vedanta Resources Ltd   6.12508/09/2024  USD   67.104
UK Municipal Bonds Age  1.6258/26/2060   GBP   63.843
Russian Foreign Bond -  4.3753/21/2029   USD   43.836
Fuerstenberg Capital E  2.522            EUR   55.334
Samhallsbyggnadsbolage  7.0007/24/2023   SEK   72.083
Andrade Gutierrez Inte 11.0008/20/2021   USD   57.155
Engie SA                1.3756/21/2039   EUR   73.771
Ukraine Government Int  7.3759/25/2034   USD   21.975
Rallye SA               5.2502/28/2032   EUR   11.500
Gazprom PJSC Via Gaz C  7.2888/16/2037   USD   48.190
Barclays Bank PLC       1.21806/03/2036  USD   59.250
Nationwide Building So  0.50005/05/2041  EUR   74.874
German Pellets GmbH     7.25011/27/2019  EUR    1.595
Societe Du Grand Paris  0.70010/15/2060  EUR   56.481
Western Power Distribu  1.62510/07/2035  GBP   74.633
Lehman Brothers UK Cap  3.875            EUR   13.466
Mallinckrodt Internati 10.0004/15/2025   USD   71.699
Republic of Poland Gov  1.7504/25/2032   PLN   73.044
Deutsche Lichtmiete AG  5.75012/01/2023  EUR   10.000
Hyde Housing Associati  1.7508/18/2055   GBP   61.418
Platform HG Financing   1.62508/10/2055  GBP   60.151
Eurotorg LLC Via Bonit  9.00010/22/2025  USD   48.323
Espirito Santo Financi  6.87510/21/2019  EUR    0.244
Allied Irish Banks PLC 12.5006/25/2035   GBP   54.715
Societe Du Grand Paris  0.87505/10/2046  EUR   73.224
Kommunekredit           0.1259/26/2040   EUR   70.749
Republic of Belarus In  6.3782/24/2031   USD   12.227
Societe Centrale des B  2.5005/15/2023   EUR    6.870
Onward Homes Ltd        2.1253/25/2053   GBP   69.726
VST Building Technolog  7.0006/28/2024   EUR    1.013
Unibail-Rodamco-Westfi  2.2505/14/2038   EUR   74.911
Russian Foreign Bond -  4.7505/27/2026   USD   45.520
Uralkali OJSC Via Ural  4.00010/22/2024  USD   18.594
Ukraine Government Int  7.75009/01/2028  USD   23.036
Romania Government Bon  3.6509/24/2031   RON   74.003
Saleza AS               9.00007/12/2021  EUR    0.203
Andrade Gutierrez Inte  9.50012/30/2024  USD   52.125
Ziton A/S               7.90010/03/2022  EUR   70.000
EA Partners I BV        6.8759/28/2020   USD    0.500
United Utilities Water  1.87506/03/2042  GBP   73.485
Ukraine Government Bon  9.9905/22/2024   UAH   74.750
Elli Finance UK PLC     8.7506/15/2019   GBP   65.125
Guinness Partnership L  2.0004/22/2055   GBP   67.447
St Galler Kantonalbank  0.10010/10/2041  CHF   74.077
Cie Generale des Etabl  0.62511/02/2040  EUR   68.559
Stichting Afwikkeling  11.250            EUR    0.622
Ukreximbank Via Biz Fi 10.42602/09/2023  USD   25.000
Saltaire Finance PLC    1.52711/23/2051  GBP   70.598
Gazprom PJSC via Gaz F  2.9501/27/2029   USD   26.000
Metinvest BV            7.75010/17/2029  USD   40.250
Aggregate Holdings SA   5.5005/17/2024   EUR   36.237
Beyond Housing Ltd      2.1255/17/2051   GBP   70.442
CRC Breeze Finance SA   6.11005/08/2026  EUR   30.414
Deutsche Lichtmiete Fi  5.75001/01/2023  EUR    3.010
Gazprom PJSC via Gaz F  3.2502/25/2030   USD   49.920
Tresu Investment Holdi  5.00001/02/2025  EUR   48.750
Ukraine Government Bon 10.95011/01/2023  UAH   56.124
Basque Government       1.37510/31/2070  EUR   56.371
Nykredit Realkredit AS  1.00010/01/2053  DKK   71.239
Lehman Brothers UK Cap  6.900            USD    3.986
City of Kyiv Via PBR K  7.50012/15/2022  USD   36.055
Credit Bank of Moscow   7.1216/25/2024   USD   20.769
NIBC Bank NV            1.315            EUR   73.907
WPP Finance 2013        2.8759/14/2046   GBP   69.550
LSF9 Balta Issuer SARL  3.00012/31/2030  EUR   59.296
Northern Powergrid Nor  1.8756/16/2062   GBP   62.987
Kernel Holding SA       6.75010/27/2027  USD   37.425
Dexia Credit Local SA   1.327            EUR    2.690
MHP Lux SA              6.2509/19/2029   USD   42.308
ABN AMRO Bank NV        0.4009/17/2041   EUR   73.211
Credit Agricole SA      2.81101/11/2041  USD   70.471
Hellas Telecommunicati  6.0541/15/2015   USD    0.001
Cadent Finance PLC      2.7509/22/2046   GBP   74.249
Dexia SA                2.012            EUR    1.944
Rallye SA               3.4002/28/2032   EUR   12.173
National Grid Gas PLC   1.6251/14/2043   GBP   61.715
Ukraine Government Int 15.8402/26/2025   UAH   61.230
Republic of Belarus In  6.8752/28/2023   USD   16.923
UkrLandFarming PLC     10.8753/26/2018   USD    1.336
Cooperatieve Rabobank   0.5007/30/2043   MXN   15.675
Ukraine Government Int  8.99402/01/2026  USD   25.607
BPCE SFH SA             0.0101/29/2036   EUR   74.974
Officine Maccaferri-Sp  5.75006/01/2021  EUR   19.820
Bourbon Corp            8.305            EUR    0.438
Stichting Afwikkeling   6.6255/14/2018   EUR   39.000
Ukraine Government Bon 10.0008/23/2023   UAH   74.750
Platform HG Financing   1.9269/15/2041   GBP   74.799
LEG Immobilien SE       0.8753/30/2033   EUR   73.647
European Primary Place  1.73211/09/2055  GBP   67.773
Nykredit Realkredit AS  0.50010/01/2053  DKK   74.798
Ukraine Government Int  9.75011/01/2030  USD   24.225
Berner Kantonalbank AG  0.1009/30/2039   CHF   73.988
EYEMAXX Real Estate AG  5.5004/26/2023   EUR    2.541
Republic of Belarus In  7.6256/29/2027   USD   12.735
Novolipetsk Steel Via   4.7005/30/2026   USD   51.000
Landwirtschaftliche Re  0.01011/26/2040  EUR   70.320
Societe Du Grand Paris  1.0002/18/2070   EUR   58.864
Republic of Belarus In  5.8752/24/2026   USD   13.000
Orpea SA                2.75006/03/2033  EUR   62.536
Havila Shipping ASA     6.16001/02/2025  NOK   35.604
Metalloinvest Finance   3.37510/22/2028  USD   25.000
Muenchener Hypothekenb  0.01010/19/2039  EUR   70.003
Ukraine Government Int  7.75009/01/2025  USD   24.767
Gazprom PJSC Via Gaz C  5.15002/11/2026  USD   51.893
Avida Finans AB        10.204            SEK   64.343
Virgolino de Oliveira  10.5001/28/2018   USD    0.323
PIK Securities DAC      5.62511/19/2026  USD    9.011
MHP SE                  7.75005/10/2024  USD   44.231
Russian Foreign Bond -  5.62504/04/2042  USD   40.858
Novatek OAO Via Novate  4.42212/13/2022  USD   50.682
Prosus NV               3.83202/08/2051  USD   67.462
DOF Subsea AS           9.23011/27/2023  NOK   70.242
WD Invest Sarl          1.90010/02/2024  EUR   11.057
Hera SpA                1.0004/25/2034   EUR   74.479
State of North Rhine-W  0.37509/02/2050  EUR   65.439
European Financial Sta  0.0501/18/2052   EUR   55.756
VF Ukraine PAT via VFU  6.20002/11/2025  USD   50.675
Caisse Francaise de Fi  0.50010/01/2046  EUR   69.830
Herens Midco Sarl       5.2505/15/2029   EUR   73.802
RTE Reseau de Transpor  1.12509/09/2049  EUR   66.180
Deutsche Lichtmiete AG  5.25009/01/2025  EUR    3.060
Barclays Bank PLC      12.0009/24/2025   TRY   48.110
Russian Foreign Bond -  7.5003/31/2030   USD   54.583
Credit Agricole Italia  0.7501/20/2042   EUR   72.116
Enel Finance Internati  2.87507/12/2041  USD   68.014
Societe Du Grand Paris  1.00011/26/2051  EUR   70.282
Luzerner Kantonalbank   0.16012/23/2043  CHF   74.597
Borets Finance DAC      6.0009/17/2026   USD   33.837
Flagship Finance PLC    1.8757/14/2061   GBP   61.817
Canton of Geneva Switz  0.50010/31/2056  CHF   71.885
Transports Publics Du   0.45012/29/2056  CHF   62.933
Bilt Paper BV          10.360            USD    1.491
Ukraine Government Bon 16.0005/24/2023   UAH   74.750
Raiffeisen-Landesbank   0.5005/27/2041   EUR   73.751
OGX Austria GmbH        8.37504/01/2022  USD    0.002
JAB Holdings BV         3.7505/28/2051   USD   69.678
Unibail-Rodamco-Westfi  2.0005/29/2037   EUR   74.804
Transcapitalbank JSC V 10.000            USD   65.282
Rena GmbH               7.00012/15/2015  EUR    0.756
Zorlu Yenilenebilir En  9.00006/01/2026  USD   73.445
Kernel Holding SA       6.50010/17/2024  USD   41.038
Ukraine Government Bon 12.5205/13/2026   UAH   58.619
Norddeutsche Landesban  8.916            EUR   60.270
OGX Austria GmbH        8.50006/01/2018  USD    0.002
Deutsche Lichtmiete AG  5.25002/01/2027  EUR    3.502
Alfa Bank AO Via Alfa   5.50010/26/2031  USD    7.932
Realkredit Danmark A/S  1.00010/01/2053  DKK   71.249
Serbia International B  2.0509/23/2036   EUR   62.071
State of Bremen         0.4502/24/2051   EUR   67.241
Odea Bank AS            8.60608/01/2027  USD   64.672
V-Bank AG               4.000            EUR   63.645
Nationale-Nederlanden   0.05011/12/2040  EUR   70.011
MHP Lux SA              6.95004/03/2026  USD   44.015
Sovcombank Via SovCom   7.600            USD    4.321
Sidetur Finance BV     10.0004/20/2016   USD    0.770
Hungary Government Int  3.1259/21/2051   USD   69.671
Air Berlin PLC          6.75005/09/2019  EUR    0.298
Senivita Social Estate  6.50005/12/2025  EUR    5.510
Turkey Government Inte  5.75005/11/2047  USD   66.407
Banco Espirito Santo S  2.983            EUR    0.120
Caisse Francaise de Fi  0.3752/13/2040   EUR   74.273
Praktiker AG            5.87502/10/2016  EUR    0.069
Celtic Resources Holdi  4.12510/09/2024  USD    8.000
Banca Popolare di Vice  9.5009/29/2025   EUR    0.095
Mobile Telesystems OJS  5.0005/30/2023   USD   25.270
Argenta Spaarbank NV    0.50010/08/2041  EUR   74.326
Privatbank CJSC Via UK 10.8752/28/2018   USD    3.299
M Objekt Real Estate H  6.0007/22/2024   EUR   69.151
Wales & West Utilities  1.8755/28/2041   GBP   71.254
Republic of Ireland In  1.4259/18/2119   EUR   74.838
Northern Powergrid Yor  2.25010/09/2059  GBP   70.516
Vedanta Resources Fina  9.2504/23/2026   USD   66.096
Ukraine Government Int  7.75009/01/2029  USD   23.046
Immigon Portfolioabbau  6.569            EUR    9.938
City of Lausanne Switz  0.0509/28/2054   CHF   59.525
Severstal OAO Via Stee  5.90010/17/2022  USD   18.000
ESFIL-Espirito Santo F  5.25006/12/2015  EUR    0.111
Sovcombank Via SovCom   7.750            USD    3.171
Development Bank of th  6.75005/02/2024  USD   11.543
ALROSA Finance SA       4.65004/09/2024  USD   10.750
Kraftwerk Eglisau-Glat  1.6956/27/2024   CHF    0.001
nextbike GmbH           6.0003/31/2025   EUR   73.000
KTG Agrar SE            7.12506/06/2017  EUR    2.007
New World Resources NV  8.00004/07/2020  EUR    0.001
Severstal OAO Via Stee  3.1509/16/2024   USD   10.001
Anadolu Efes Biracilik  3.3756/29/2028   USD   72.817
Santhera Pharmaceutica  7.5008/17/2024   CHF   72.000
LiveWest Treasury PLC   1.8752/18/2056   GBP   65.396
National Grid Gas PLC   1.1251/14/2033   GBP   74.359
Free and Hanseatic Cit  0.2502/18/2041   EUR   72.737
University of Southamp  2.25004/11/2057  GBP   73.854
Severn Trent Utilities  0.01012/16/2055  GBP   73.611
Evraz PLC               5.3753/20/2023   USD   50.000
Europejskie Centrum Od 13.0004/14/2023   PLN   49.478
Veneto Banca SpA        9.87812/01/2025  EUR    0.394
Cooperatieve Rabobank   0.01011/27/2040  EUR   68.158
Suek Securities DAC     3.3759/15/2026   USD   13.900
Gazprom PJSC Via Gaz C  8.6254/28/2034   USD   48.759
Banco Espirito Santo S  6.8757/15/2016   EUR   24.500
Turkey Government Inte  4.8754/16/2043   USD   62.586
Realkredit Danmark A/S  0.50010/01/2053  DKK   74.811
Virgolino de Oliveira  11.75002/09/2022  USD    0.500
National Grid Electric  2.0009/16/2038   GBP   74.665
City of Lausanne Switz  0.68003/11/2058  CHF   73.637
Banco Espirito Santo S  3.163            EUR    0.349
EDOB Abwicklungs AG     7.50004/01/2012  EUR    1.215
Russian Foreign Bond -  2.87512/04/2025  EUR   40.149
Bank Vontobel AG       15.00011/07/2022  EUR   35.700
BAWAG PSK Bank fuer Ar  0.01011/19/2035  EUR   74.777
Fuerstenberg Capital D  3.905            EUR   56.532
State of Saxony-Anhalt  0.5003/24/2051   EUR   68.714
Nostrum Oil & Gas Fina  8.0007/25/2022   USD   25.997
BAWAG PSK Bank fuer Ar  0.3753/25/2041   EUR   72.193
Hamon & CIE SA          3.3001/31/2035   EUR   46.000
City of Bern Switzerla  0.04010/02/2070  CHF   49.073
Region Wallonne Belgiu  0.6501/16/2051   EUR   62.320
Prosus NV               2.03108/03/2032  EUR   72.973
Jababeka International  6.50010/05/2023  USD   47.494
Espirito Santo Financi  3.12512/02/2018  EUR    0.281
Espirito Santo Financi  9.75012/19/2025  EUR    0.286
Muenchener Hypothekenb  0.01011/02/2040  EUR   68.681
Credit Bank of Moscow   3.8759/21/2026   USD   20.337
Region de Bruxelles-Ca  1.12105/11/2071  EUR   62.906
EYEMAXX Real Estate AG  5.5007/22/2025   EUR   75.000
Metinvest BV            7.65010/01/2027  USD   40.944
Ukraine Government Int 11.1508/26/2022   UAH   74.750
DZ Bank AG Deutsche Ze  0.5504/29/2024   EUR   59.442
Endo Luxembourg Financ  6.12504/01/2029  USD   74.830
Nationale-Nederlanden   0.37503/04/2041  EUR   73.117
Land Berlin             0.35009/09/2050  EUR   65.383
VTB Bank OJSC Via VTB   6.2506/30/2035   USD   21.736
Hema Bondco II BV       8.5001/15/2023   EUR    0.113
Novolipetsk Steel Via   1.45006/02/2026  EUR   51.186
Romanian Government In  4.0002/14/2051   USD   74.597
Single Platform Invest  0.5592/15/2047   EUR   57.550
Polyus Finance PLC      3.25010/14/2028  USD   44.500
Vnesheconombank Via VE  5.94211/21/2023  USD    5.240
Solarworld AG           9.6912/24/2019   EUR   25.000
City of Lausanne Switz  0.60011/30/2056  CHF   73.159
Region de Bruxelles-Ca  1.2206/23/2053   EUR   73.531
Sberbank of Russia Via  5.12510/29/2022  USD    9.600
Offshore Drilling Hold  8.3759/20/2020   USD    4.820
de Volksbank NV         0.12511/19/2040  EUR   70.145
Claranova SE            5.00007/01/2023  EUR    1.080
Gazprom PJSC via Gaz F  1.85011/17/2028  EUR   47.446
State of Schleswig-Hol  0.2008/15/2039   EUR   73.886
Bank Julius Baer & Co  13.25001/05/2023  USD   48.700
Gazprom PJSC Via Gaz C  3.12511/17/2023  EUR   41.753
Corporate Commercial B  8.25008/08/2014  USD    0.308
INVEST-DEVELOPMENT PJS  9.00004/02/2026  RUB   66.000
Societe Generale SA     2.0001/30/2036   USD   63.273
Canton of Neuchatel     0.10010/29/2049  CHF   65.012
Romanian Government In  3.3751/28/2050   EUR   66.967
Air Berlin PLC          5.62505/09/2019  CHF    0.467
Wessex Water Services   1.25001/12/2036  GBP   71.584
EOS Imaging SA          6.0005/31/2023   EUR    7.250
Credit Bank of Moscow   7.625            USD   14.827
Interpipe Holdings PLC  8.3755/13/2026   USD   39.345
Ukraine Government Int  7.3759/25/2034   USD   19.348
Credit Agricole Italia  1.0001/17/2045   EUR   73.746
Blend Funding PLC       2.4676/16/2061   GBP   70.547
Ukraine Government Bon  9.8402/15/2023   UAH   74.750
Privatbank CJSC Via UK 11.00002/09/2021  USD    1.000
BPCE SFH SA             0.3753/18/2041   EUR   73.064
Norwegian Air Shuttle   6.37902/07/2023  SEK   41.481
City of Lausanne Switz  0.54011/06/2062  CHF   66.677
Kreditanstalt fuer Wie  1.00010/19/2050  EUR   74.060
Irish Bank Resolution   0.5666/21/2016   EUR    0.679
Mox Telecom AG          7.25011/02/2017  EUR    2.270
Waste Italia SpA       10.50011/15/2019  EUR    0.550
Abengoa Abenewco 1 SA   6.00006/10/2022  EUR    0.236
Department of L'Eure F  0.5155/25/2040   EUR   74.582
Norske Skogindustrier   2.00012/30/2115  EUR    0.113
Fastighets AB Balder    1.29303/03/2031  EUR   62.837
Romanian Government In  2.62512/02/2040  EUR   64.902
Jyske Realkredit A/S    1.00010/01/2053  DKK   71.238
Nordiska Kreditmarknad 10.265            SEK   68.530
Nederlandse Waterschap  1.9001/31/2035   AUD   72.868
Cirio Finance Luxembou  7.50011/03/2002  EUR    2.691
Italgas SpA             0.5002/16/2033   EUR   74.250
Societe Generale SA     7.00010/31/2031  USD   73.000
Single Platform Invest  0.7452/15/2047   EUR   60.795
Nestle Hungaria Kft     1.7505/31/2028   HUF   61.000
Norske Skogindustrier   7.00012/30/2026  EUR    0.010
Free and Hanseatic Cit  0.40011/23/2051  EUR   65.450
Romanian Government In  2.7504/14/2041   EUR   64.798
Virgolino de Oliveira  10.5001/28/2018   USD    0.010
Republic of Armenia In  3.60002/02/2031  USD   71.791
LBI ehf                 6.1008/25/2011   USD   10.667
Swissgrid AG            0.0506/30/2050   CHF   58.171
Steilmann SE            7.0009/23/2018   EUR    1.429
Paradigm Homes Charita  2.2505/20/2051   GBP   73.556
New World Resources NV  4.00010/07/2020  EUR    0.311
Prosus NV               4.02708/03/2050  USD   68.209
Alfa Bank AO Via Alfa   5.9504/15/2030   USD    7.556
BPCE SA                 2.463            EUR   59.657
Haya Holdco 2 PLC       9.00011/30/2025  EUR   63.843
Italy Buoni Poliennali  1.5004/30/2045   EUR   72.094
German Pellets GmbH     7.25007/09/2018  EUR    1.595
TransFin-M PAO          9.90002/04/2027  RUB   61.000
Land Thueringen         0.20009/12/2039  EUR   73.688
Kommunekredit           0.5007/30/2027   TRY   17.627
Cooperatieve Rabobank   0.50010/29/2027  MXN   63.326
Prosus NV               2.7781/19/2034   EUR   74.012
Ukraine Government Int  6.7506/20/2028   EUR   20.947
Ukraine Government Int  9.7905/26/2027   UAH   46.371
Ideal Standard Interna  6.3757/30/2026   EUR   59.625
City of Kyiv Via PBR K  7.50012/15/2022  USD   36.055
Civitas Properties Fin  4.00011/24/2022  EUR   65.000
Standard Profil Automo  6.2504/30/2026   EUR   57.050
Orpea SA                2.56411/30/2027  EUR   70.657
Credit Agricole Corpor  1.55009/08/2031  AUD   74.679
BPCE SA                 3.58210/19/2042  USD   73.936
Region Wallonne Belgiu  1.24605/12/2070  EUR   63.785
Deutsche Bank AG        0.68710/11/2049  EUR   57.400
AMATHEON AGRI Holding   5.0001/22/2025   EUR   70.000
MMC Norilsk Nickel OJS  3.37510/28/2024  USD   51.929
Cooperatieve Rabobank   0.50010/30/2043  MXN   15.529
Gazprom PJSC via Gaz F  1.5002/17/2027   EUR   47.648
Wingholding Zrt         3.5005/20/2030   HUF   71.430
State Savings Bank of  10.1861/19/2024   USD   29.625
Ukraine Government Bon  4.0001/25/2024   USD   36.620
Ukraine Government Int 10.0008/23/2023   UAH   74.750
Agrokor dd              9.87505/01/2019  EUR   15.000
Intelsat Jackson Holdi  8.50010/15/2024  USD    1.773
Takarek Mortgage Bank   3.50010/27/2027  HUF   70.100
Uralkali OJSC Via Ural  4.00010/22/2024  USD   18.594
CBo Territoria          3.75007/01/2024  EUR    4.550
Chelyabinsk Pipe Plant  4.5009/19/2024   USD   15.115
Land Berlin             0.1001/18/2041   EUR   70.718
MMC Norilsk Nickel OJS  2.80010/27/2026  USD   50.165
Ukraine Government Int  7.75009/01/2026  USD   23.363
Junta de Castilla y Le  1.27504/07/2049  EUR   69.787
Romanian Government In  2.8754/13/2042   EUR   64.920
Ministeries Van de Vla  1.0001/23/2051   EUR   71.993
Ministeries Van de Vla  0.8753/21/2046   EUR   73.837
Yuksel Insaat AS        9.50011/10/2015  USD    0.105
Rio Forte Investments   4.0007/22/2014   EUR    3.352
Hungary Government Bon  3.00010/27/2038  HUF   59.005
Cellnex Finance Co SA   3.87507/07/2041  USD   71.797
Kardan NV               6.3252/21/2021   ILS   13.100
State of Rhineland-Pal  0.37503/10/2051  EUR   65.205
Orpea SA                3.00011/25/2041  EUR   43.055
State of Lower Austria  0.8159/22/2056   EUR   67.751
Serbia International B  1.65003/03/2033  EUR   65.550
Deutsche Telekom AG     3.5004/15/2041   AUD   68.309
Russian Federal Bond -  0.2507/20/2044   RUB   15.200
Futureal Development H  4.0003/23/2031   HUF   60.000
Agrokor dd              8.87502/01/2020  USD   15.000
State of Brandenburg    0.60010/13/2051  EUR   70.056
Region Wallonne Belgiu  1.2506/22/2071   EUR   65.590
Cirio Finanziaria SpA   8.00012/21/2005  EUR    0.410
Maxeda DIY Holding BV   5.87510/01/2026  EUR   74.558
State of Bremen         0.4008/20/2049   EUR   67.037
Barclays Bank PLC       0.5001/28/2033   MXN   28.800
Landesbank Baden-Wuert  3.30011/25/2022  EUR   53.060
Boparan Finance PLC     7.62511/30/2025  GBP   71.567
Ukraine Government Bon 14.0006/26/2024   UAH   55.493
BNG Bank NV             0.56206/07/2051  EUR   72.960
Region de Bruxelles-Ca  0.4443/19/2057   EUR   51.105
Land Thueringen         0.1251/13/2051   EUR   60.400
Cirio Holding Luxembou  6.2502/16/2004   EUR    1.693
NET4GAS sro             2.7507/17/2025   CZK   73.271
Metinvest BV            5.6256/17/2025   EUR   40.642
RENE LEZARD Mode GmbH   7.25011/25/2017  EUR    0.120
Norwegian Air Shuttle   7.50011/10/2023  USD   74.302
MMC Norilsk Nickel OJS  4.10004/11/2023  USD   56.462
Jain International Tra  7.12502/01/2022  USD   22.411
Havenbedrijf Rotterdam  1.1003/23/2051   EUR   72.747
Sigma Holdco BV         5.7505/15/2026   EUR   65.269
Societe Generale SA    21.00010/03/2023  USD    6.350
Kelag-Kaerntner Elektr  1.1504/16/2041   EUR   74.700
City of Zurich Switzer  0.25011/24/2051  CHF   72.088
Nostrum Oil & Gas Fina  7.0002/16/2025   USD   25.275
ALROSA Finance SA       3.1006/25/2027   USD   10.284
UBS Group AG            2.3702/25/2036   USD   74.820
Sibur Securities DAC    2.95007/08/2025  USD   29.806
EYEMAXX Real Estate AG  5.5009/24/2024   EUR    1.962
Stichting Afwikkeling   2.875            EUR    0.622
Eurochem Finance DAC    5.5003/13/2024   USD   35.602
MMC Norilsk Nickel OJS  2.55009/11/2025  USD   51.710
MMC Norilsk Nickel OJS  6.62510/14/2022  USD   64.845
Kommunekredit           0.37502/03/2045  DKK   68.682
Ahtium PLC              9.75004/04/2017  EUR    0.726
Tennor Finance BV       5.7506/17/2024   EUR   75.000
Quintet Private Bank E  3.65011/13/2023  EUR   50.430
Evraz PLC               5.25004/02/2024  USD   49.527
Gemeente Bergen OP Zoo  0.4409/20/2044   EUR   72.315
Elli Finance UK PLC     8.7506/15/2019   GBP   65.125
Global Ports Finance P  6.5009/22/2023   USD   15.000
Erotik-Abwicklungsgese  7.75007/09/2019  EUR    0.779
Takko Luxembourg 2 SCA  5.37511/15/2023  EUR   68.000
MFB Magyar Fejlesztesi  3.00010/27/2027  HUF   74.831
Single Platform Invest  1.2208/24/2047   EUR   68.678
VTB Bank OJSC Via VTB   6.95010/17/2022  USD    5.882
VON Der Heydt Securiti  1.0004/30/2031   EUR   74.234
Basque Government       1.00010/31/2050  EUR   62.448
UBS AG/London           6.38006/07/2023  USD    9.490
Deutsche Bank AG/Londo 13.7506/20/2026   TRY   20.775
Rusal Capital DAC       4.85002/01/2023  USD   41.964
Banco Espirito Santo S  6.9006/28/2024   EUR   24.500
State of Mecklenburg-W  0.23911/17/2070  EUR   50.767
Alitalia-Societa Aerea  5.2507/30/2020   EUR    0.103
Ukraine Government Int 14.91010/12/2022  UAH   74.750
Joh Friedrich Behrens   6.2506/18/2024   EUR   34.010
State of Bremen         0.1509/14/2040   EUR   71.672
MFB Magyar Fejlesztesi  4.60010/24/2029  HUF   74.405
MVM Energetika Zrt      3.25009/03/2031  HUF   61.000
Land Baden-Wuerttember  0.12511/19/2040  EUR   71.499
HSE Finance Sarl        5.62510/15/2026  EUR   73.667
Del Monte Finance Luxe  6.6255/24/2006   EUR    0.859
Societe Generale SA    14.00004/03/2024  USD   27.250
Ukraine Government Int 12.5205/13/2026   UAH   58.619
Prosus NV               1.9857/13/2033   EUR   70.521
Sovcombank Via SovCom   3.4001/26/2025   USD    5.294
Lehman Brothers UK Cap  5.750            EUR    7.000
Credit Bank of Moscow   4.7001/29/2025   USD   24.991
State of Brandenburg    0.1251/26/2046   EUR   65.307
Intelsat Jackson Holdi  9.7507/15/2025   USD    1.773
Region de Bruxelles-Ca  0.59212/10/2061  EUR   54.289
niiio finance group AG  4.0005/31/2026   EUR   41.000
Alpine Holding GmbH     6.0005/22/2017   EUR    3.084
Free and Hanseatic Cit  0.20009/03/2049  EUR   63.047
Kleopatra Holdings 2 S  6.50009/01/2026  EUR   69.750
Bellis Finco PLC        4.0002/16/2027   GBP   70.192
MFB Magyar Fejlesztesi  4.2004/20/2033   HUF   70.880
Royal Schiphol Group N  2.89010/25/2034  AUD   74.467
Sairgroup Finance BV    4.37506/08/2006  EUR    1.963
State of Rhineland-Pal  0.37504/01/2041  EUR   74.788
Nordea Kredit Realkred  1.00010/01/2053  DKK   71.232
UniCredit Bank AG       0.42811/19/2029  EUR   74.208
Societe Nationale SNCF  1.2803/27/2120   EUR   51.426
VPV Lebensversicherung  3.5978/17/2026   EUR   69.029
Mondelez International  1.25009/09/2041  EUR   73.277
Republic of Belarus In  6.2002/28/2030   USD   12.500
Iceland Bondco PLC      4.3755/15/2028   GBP   73.626
Frigoglass Finance BV   6.87502/12/2025  EUR   53.904
Sovcombank Via SovCom   8.00004/07/2030  USD    3.666
Spain Government Bond   1.00010/31/2050  EUR   67.252
Communaute Francaise d  0.78202/08/2061  EUR   56.083
State of Rhineland-Pal  0.3757/20/2048   EUR   66.802
Ville de Paris          0.8312/23/2056   EUR   61.578
Joh Friedrich Behrens   7.75011/11/2020  EUR   32.000
Moby SpA                7.7502/15/2023   EUR   65.858
Communaute Francaise d  0.6268/24/2040   EUR   73.743
Ville de Paris          0.85008/04/2051  EUR   68.306
Eurogrid GmbH           0.87511/20/2040  EUR   65.069
Hellas Telecommunicati  8.50010/15/2013  EUR    0.834
Phosphorus Holdco PLC  10.00004/01/2019  GBP    1.360
Banca Popolare di Vice  2.82112/20/2017  EUR    0.403
A-TEC Industries AG     8.75010/27/2014  EUR    0.100
AXA Bank Europe SCF     0.25006/09/2040  EUR   71.803
Gebr Sanders GmbH & Co  8.75010/22/2018  EUR    9.375
State of Saarland       0.05011/05/2040  EUR   70.350
Canton of Neuchatel     0.3507/14/2050   CHF   70.512
Swissgrid AG            0.2006/29/2040   CHF   72.184
Credit Suisse Internat  9.5003/24/2026   UAH   72.680
Kingdom of Belgium Gov  0.4597/23/2079   EUR   40.107
Hampshire Trust Bank P  7.25005/10/2028  GBP   71.307
City of St Gallen       0.1409/16/2044   CHF   74.188
Getin Noble Bank SA    12.2907/28/2023   PLN   47.875
Bank Nadra Via NDR Fin  8.2507/31/2018   USD    0.208
Gazprom PJSC via Gaz F  3.897            EUR   17.664
Romanian Government In  2.0001/28/2032   EUR   73.893
Espirito Santo Financi  5.05011/15/2025  EUR    0.286
Finmek International S  7.00012/03/2004  EUR    2.193
German Pellets GmbH     7.25004/01/2016  EUR    1.595
Barclays Bank PLC       5.00011/01/2029  BRL   66.086
Single Platform Invest  0.7549/20/2039   EUR   70.505
MFB Magyar Fejlesztesi  2.90010/22/2031  HUF   67.367
Leonteq Securities AG/  5.7109/23/2022   USD   37.860
EVN AG                  0.85010/15/2035  EUR   73.478
Carmila SA              1.89011/06/2031  EUR   72.370
Societe Nationale SNCF  2.5031/14/2041   AUD   70.355
Rhaetische Bahn Stamm   0.05008/03/2050  CHF   66.289
SCF Capital Designated  5.3756/16/2023   USD   20.000
Portugal Telecom Inter  6.2507/26/2016   EUR    0.285
AK BARS Bank Via AK BA  8.0007/13/2022   USD   31.161
Land Berlin             0.12511/24/2045  EUR   65.481
French Republic Govern  0.7505/25/2053   EUR   68.884
Malta Government Bond   1.4008/20/2046   EUR   73.824
Sibur Securities DAC    3.4509/23/2024   USD   33.117
Landeskreditbank Baden  0.61011/17/2050  EUR   69.898
State of Lower Austria  1.0009/15/2121   EUR   55.020
Credit Bank of Moscow   5.5502/14/2023   USD   23.194
Elli Investments Ltd   12.2506/15/2020   GBP   52.250
Finance and Credit Ban  9.2501/25/2019   USD    0.001
Boparan Finance PLC     7.62511/30/2025  GBP   74.333
Intelsat Jackson Holdi  9.7507/15/2025   USD    1.773
Communaute Francaise d  1.5811/23/2120   EUR   62.206
Batigere Grand Est SAH  1.50012/15/2051  EUR   58.908
Takko Luxembourg 2 SCA  5.70811/15/2023  EUR   68.975
Nederlandse Waterschap  0.19011/02/2050  EUR   63.207
Magyar Export-Import B  2.00010/27/2027  HUF   69.893
Assistance Publique Ho  1.1834/16/2050   EUR   74.802
Tjiwi Kimia Internatio 13.25008/01/2001  USD    0.001
Pfandbriefzentrale der  0.05010/06/2043  CHF   73.283
CB First Investment Ba  8.000            EUR   66.683
Frigate Luxembourg SA   2.00008/01/2032  EUR   59.999
Banque Cantonale Vaudo 21.1508/22/2022   CHF   21.840
Sibur Securities DAC    4.12510/05/2023  USD   30.515
NRW Bank                0.1068/17/2050   EUR   63.435
Orient Express Bank PJ  2.000            USD   19.668
Ukraine Government Bon  3.7006/22/2023   USD   56.957
Land Berlin             0.05008/06/2040  EUR   70.373
Societe Du Grand Paris  1.14904/08/2069  EUR   65.318
State of Brandenburg    0.30010/04/2049  EUR   64.761
Veneto Banca SpA        6.411            EUR    0.345
Ahtium PLC              4.00012/16/2015  EUR    0.586
Turkey Government Inte  6.6252/17/2045   USD   73.438
Nobel Bidco BV          3.1256/15/2028   EUR   73.600
Republic of Ireland In  0.83507/08/2080  EUR   61.947
MOL Hungarian Oil & Ga  1.1009/22/2030   HUF   49.000
SAG Solarstrom AG       7.50007/10/2017  EUR   31.000
OGX Austria GmbH        8.37504/01/2022  USD    0.002
Barclays Bank PLC       0.1222/28/2034   USD   63.875
DekaBank Deutsche Giro  7.65003/10/2023  EUR   44.150
Orpea SA                2.00008/09/2029  EUR   57.638
SCF Capital Designated  3.8504/26/2028   USD   19.768
Ukraine Government Int  9.9905/22/2024   UAH   74.750
UBS AG/London           7.80011/17/2022  CHF   70.650
Vnesheconombank Via VE  6.02507/05/2022  USD    4.437
Jain International Tra  7.1253/31/2026   USD   27.547
Region Hauts-de-France  0.4022/18/2043   EUR   68.570
Raiffeisenlandesbank O  0.20006/09/2036  EUR   71.290
HSE Finance Sarl        6.07110/15/2026  EUR   72.980
Batigere Grand Est SAH  1.80008/12/2050  EUR   63.024
Eirles Two DAC          2.7909/30/2046   USD    0.000
Alno AG                 8.0003/21/2019   EUR   15.000
Credit Bank of Moscow   7.50010/05/2027  USD    9.370
Kommunekredit           0.86911/12/2043  SEK   72.330
Single Platform Invest  0.8606/15/2039   EUR   72.221
Norwegian Air Shuttle   6.37511/15/2024  USD   48.110
BNG Bank NV            10.0106/17/2025   TRY   46.884
Ville de Paris          0.45010/20/2045  EUR   67.068
getgoods.de AG          7.75010/02/2017  EUR    0.527
Department of L'Eure F  0.6438/31/2041   EUR   74.509
Kingdom of Belgium Gov  1.17005/12/2121  EUR   53.722
Region Hauts-de-France  0.69107/09/2042  EUR   74.025
PJSC Koks via IMH Capi  5.9009/23/2025   USD    8.019
Norske Skog Holding AS  8.0002/24/2021   EUR    0.006
Landesbank Baden-Wuert  3.4802/24/2023   EUR   54.300
Getin Noble Bank SA    11.2907/26/2024   PLN   34.875
Region de Bruxelles-Ca  1.5006/22/2070   EUR   74.799
Region Wallonne Belgiu  1.2504/30/2055   EUR   67.925
Autonomous Community o  1.5156/21/2051   EUR   72.658
Kreditanstalt fuer Wie  0.61306/10/2040  EUR   74.816
Jyske Realkredit A/S    0.50010/01/2053  DKK   74.840
Bayerische Landesbank   1.5502/13/2040   EUR   66.059
Stelius Befektetoe Zar  3.1009/17/2030   HUF   66.500
O1 Properties Finance   0.5009/27/2028   USD    6.505
Norske Skog Holding AS  8.0002/24/2021   EUR    0.006
Sberbank of Russia Via  5.2505/23/2023   USD   11.009
Mercedes-Benz Manufact  1.5003/16/2027   HUF   65.000
Societe Generale SA    16.00001/03/2024  USD   71.200
DekaBank Deutsche Giro  3.97002/09/2023  EUR   58.960
TransFin-M PAO          9.65002/04/2027  RUB   61.000
State of Bremen         0.55002/04/2050  EUR   69.678
Societe Generale SA     9.2005/22/2025   USD   70.500
Hypo Vorarlberg Bank A  1.52007/08/2050  EUR   74.111
A-TEC Industries AG     2.75005/10/2014  EUR    0.100
BOA Offshore AS         0.4097/17/2047   NOK    5.233
Stichting Afwikkeling   8.4508/20/2018   USD   39.000
National Grid Electric  2.02003/12/2032  AUD   74.816
Credit Agricole SA      3.6104/20/2036   AUD   69.939
Orpea SA                2.77012/18/2028  EUR   71.346
LFA Foerderbank Bayern  0.1259/30/2038   EUR   73.443
VTB Bank PJSC           5.000            USD   61.910
Takarek Mortgage Bank   3.00010/22/2031  HUF   56.300
Veragold Mining Co Gmb  5.00012/31/2022  EUR   50.000
Kingdom of Belgium Gov  0.67507/07/2080  EUR   46.372
Nordea Kredit Realkred  0.50010/01/2053  DKK   74.832
Societe Generale SA    10.0004/28/2034   USD   63.000
Bulgaria Steel Finance 12.00005/04/2013  EUR    0.216
Windreich GmbH          6.5007/15/2016   EUR    4.475
Hungary Government Int  3.1259/21/2051   USD   69.639
DZ Bank AG Deutsche Ze  4.69011/25/2022  EUR   50.830
Grand Delta Habitat     1.75010/28/2061  EUR   73.586
Ukraine Government Int  9.7905/26/2027   UAH   46.371
La Veggia Finance SA    7.12511/14/2004  EUR    0.287
Turkey Government Inte  6.0001/14/2041   USD   70.489
Credit Suisse AG        0.50012/16/2025  BRL   67.847
Steilmann SE            7.00003/09/2017  EUR    1.429
Land Thueringen         0.37512/01/2051  EUR   64.935
Romanian Government In  2.0004/14/2033   EUR   71.481
SNCF Reseau             1.4258/14/2119   EUR   57.378
Deutsche Pfandbriefban  4.12011/03/2031  EUR   74.346
Resa SA/Belgium         1.9507/22/2036   EUR   50.010
Sairgroup Finance BV    6.62510/06/2010  EUR    1.963
Depfa Funding III LP    2.056            EUR   44.854
Decipher Production Lt 12.5009/27/2019   USD    1.500
Lloyds Bank PLC         0.5007/26/2028   MXN   58.660
Citigroup Global Marke  1.80011/17/2036  EUR   72.630
United Kingdom Gilt     0.62510/22/2050  GBP   61.921
Sveriges Sakerstallda   1.3787/13/2046   SEK   72.147
National Grid Electric  1.1512/20/2040   EUR   69.310
Grenke Finance PLC      2.0404/16/2029   EUR   73.447
UniCredit Bank AG       6.6007/20/2028   EUR   13.850
Alteo Nyrt              3.15010/28/2029  HUF   59.700
EnBW International Fin  2.0801/21/2041   EUR   71.959
Danske Bank A/S         7.50001/09/2025  SEK   64.510
Novolipetsk Steel Via   4.5006/15/2023   USD   56.034
Alpine Holding GmbH     5.25007/01/2015  EUR    3.084
SiC Processing GmbH     7.12503/01/2016  EUR    0.786
Free and Hanseatic Cit  0.3009/16/2050   EUR   64.114
HSBC Bank PLC           0.50011/25/2025  BRL   67.886
KTG Agrar SE            7.25010/15/2019  EUR    2.007
Signa Development Fina  5.5007/23/2026   EUR   72.469
Raiffeisen Switzerland  3.8908/26/2022   CHF   68.610
Ukraine Government Int 15.9704/19/2023   UAH   74.750
Single Platform Invest  0.8602/15/2040   EUR   70.629
Banque Cantonale de Fr  0.10011/01/2044  CHF   69.971
State of Hesse          0.2278/20/2049   EUR   62.839
OGX Austria GmbH        8.50006/01/2018  USD    0.002
Magyar Export-Import B  2.5005/23/2029   HUF   67.877
Portugal Obrigacoes do  1.00004/12/2052  EUR   65.549
Vontobel Financial Pro 10.0009/23/2022   EUR   63.050
Banque Cantonale Vaudo 20.6508/22/2022   CHF   62.910
Single Platform Invest  0.3632/15/2041   EUR   63.113
Turkey Government Bond  1.50010/09/2024  TRY
Pro-Gest SpA            3.25012/15/2024  EUR   74.583
Polyus Finance PLC      4.7001/29/2024   USD   47.380
Caixa Economica Montep  5.000            EUR   51.550
Golden Gate AG          6.50010/11/2014  EUR   33.000
Pescanova SA            5.1254/20/2017   EUR    0.319
Alpine Holding GmbH     5.25006/10/2016  EUR    3.084
Credit Agricole SA      3.75006/09/2040  AUD   70.543
Raiffeisen Centrobank  10.5009/22/2022   EUR   52.290
BNP Paribas Issuance B  7.9801/20/2025   SEK   63.530
Batigere Grand Est SAH  2.0305/29/2070   EUR   71.678
Russian Agricultural B  8.50010/16/2023  USD    9.953
Municipality of Arnhem  0.4609/20/2049   EUR   68.885
Banco Santander SA      2.118            EUR    1.475
Autonomous Community o  1.25510/31/2048  EUR   70.697
Hungary Government Bon  3.0004/25/2041   HUF   56.699
WEB Windenergie AG      5.50004/08/2023  EUR   30.000
International Bank of   8.25010/09/2024  USD   60.375
DZ Bank AG Deutsche Ze 11.6808/26/2022   EUR   28.060
Region de Bruxelles-Ca  0.56212/23/2065  EUR   49.025
Andrade Gutierrez Inte 11.0008/20/2021   USD   57.155
Polyus Finance PLC      5.25002/07/2023  USD   47.997
Canton of Zurich        0.1006/23/2045   CHF   74.545
Rusal Capital DAC       5.30005/03/2023  USD   40.612
Muenchener Hypothekenb  0.58010/14/2035  EUR   74.427
City of Lausanne Switz  0.23011/01/2060  CHF   59.752
State of Lower Austria  0.46010/08/2049  EUR   64.681
OR PJSC                12.0009/22/2022   RUB   12.730
Region de Bruxelles-Ca  0.8756/22/2057   EUR   61.646
Ukraine Government Int  9.8402/15/2023   UAH   74.750
Cirio Del Monte NV      7.7503/14/2005   EUR    0.369
Minicentrales Dos SA    0.01006/06/2047  EUR   59.125
Steilmann SE            6.7506/27/2017   EUR    2.184
Virgolino de Oliveira  10.8751/13/2020   USD   36.000
Deutsche Bank AG        1.7251/16/2045   EUR   56.470
Hema Bondco II BV       8.5001/15/2023   EUR    0.113
Ministeries Van de Vla  0.63411/19/2060  EUR   55.063
Credit Suisse AG/Londo 11.75009/08/2022  USD   42.160
Ville de Paris          0.65011/25/2070  EUR   50.149
Kingdom of Belgium Gov  0.6506/22/2071   EUR   55.290
Autonomous Community o  1.74407/01/2061  EUR   66.345
Richter Gedeon Nyrt     1.75006/04/2031  HUF   63.000
DekaBank Deutsche Giro  5.97002/09/2023  EUR   57.460
VTB Bank PJSC           5.909            USD   60.000
Ukraine Government Bon  3.7005/25/2023   USD   59.817
Republic of Austria Go  0.8506/30/2120   EUR   53.802
Ukraine Government Int  7.75009/01/2027  USD   19.727
Thomas Cook Group PLC   6.2506/15/2022   EUR    0.271
Santander Internationa  1.70012/12/2049  EUR   49.574
Ukraine Government Int 16.0005/24/2023   UAH   74.750
Ukraine Government Int 16.0005/24/2023   UAH   74.750
Aralco Finance SA      10.12505/07/2020  USD    3.060
Gazprombank JSC         3.2505/24/2032   EUR   42.012
Region Nouvelle-Aquita  0.81411/22/2044  EUR   73.166
Societe Nationale SNCF  1.4005/18/2120   EUR   54.593
BNP Paribas Issuance B  3.30007/01/2030  EUR   68.800
Landesbank Baden-Wuert  3.4708/26/2022   EUR   68.030
Ukraine Government Bon 12.30007/03/2024  UAH   49.030
Credit Suisse AG/Londo  4.53007/12/2023  USD    8.840
GTC Magyarorszag Zrt    2.6003/17/2031   HUF   65.660
Credit Bank of Moscow   8.875            USD   12.546
UBS AG/London           6.5006/28/2023   USD    9.630
Single Platform Invest  0.7802/15/2040   EUR   70.139
Credit Agricole SA      3.0001/19/2041   AUD   55.787
Region of Veneto Italy  0.11212/07/2046  EUR   70.275
VTB Bank OJSC Via VTB   6.2506/30/2035   USD   21.736
Heta Asset Resolution   7.50012/31/2023  ATS    3.218
Rena GmbH               8.25007/11/2018  EUR    0.756
Assistance Publique Ho  1.09904/06/2071  EUR   59.740
Morhomes PLC            2.5082/19/2051   GBP   72.747
Futureal Development H  3.50011/16/2036  HUF   50.000
ING Bank NV             2.8309/28/2051   USD   71.241
Societe Generale SA     3.31011/29/2033  AUD   74.716
Landesbank Baden-Wuert  1.00008/12/2039  EUR   71.800
Ukraine Government Int 15.8402/26/2025   UAH   61.230
French Republic Govern  0.5006/25/2044   EUR   72.797
Autonomous Community o  1.8505/13/2061   EUR   70.558
Kingdom of Belgium Gov  0.4006/22/2040   EUR   74.737
Societe Generale SA     2.0002/26/2033   USD   76.260
Department of Loiret F  0.47810/30/2040  EUR   73.337
Region de Bruxelles-Ca  0.7657/15/2052   EUR   63.469
VTB Bank PJSC           7.60004/02/2031  RUB   74.510
Duna Aszfalt Ut Es Mel  2.99010/17/2029  HUF   68.000
Russian Foreign Bond -  7.5003/31/2030   USD   54.583
Single Platform Invest  0.9302/15/2041   EUR   70.570
Deutsche Bank AG        1.75010/30/2028  USD   73.000
Cooperatieve Rabobank   0.5001/31/2033   MXN   37.822
Deutsche Bank AG        1.75004/09/2035  EUR   73.031
New World Resources NV  8.00004/07/2020  EUR    0.001
Intesa Sanpaolo Bank I  3.10211/19/2035  AUD   73.272
Italy Buoni Poliennali  0.95003/01/2037  EUR   74.390
National Grid Electric  1.6909/16/2041   GBP   66.037
Societe Generale SA    12.00011/19/2036  USD   63.100
Anselma Issuer SA       1.57412/31/2038  EUR   70.230
TBI Bank EAD            5.2507/30/2031   EUR   57.619
DZ Bank AG Deutsche Ze  9.4108/26/2022   EUR   31.000
Single Platform Invest  0.9382/15/2041   EUR   69.875
MOL Hungarian Oil & Ga  1.90004/12/2031  HUF   54.900
CPI Hungary Investment  2.25008/07/2030  HUF   53.000
Grupo Isolux Corsan SA  6.00012/30/2021  EUR    0.312
UniCredit SpA           1.49010/23/2035  EUR   72.393
Region Wallonne Belgiu  1.13510/10/2069  EUR   60.729
Kingdom of Belgium Gov  0.5589/24/2077   EUR   43.998
Assistance Publique Ho  0.4909/30/2040   EUR   73.646
Nomura Bank Internatio  1.13812/19/2039  EUR   74.377
Van Lanschot Kempen NV  1.41004/04/2024  EUR   50.000
Denmark Government Bon  0.25011/15/2052  DKK   67.906
Single Platform Invest  0.8801/15/2040   EUR   72.847
Republic of Ireland In  1.2306/23/2121   EUR   64.874
Sberbank of Russia PJS  0.0106/22/2028   RUB   58.300
Ministeries Van de Vla  0.87506/03/2045  EUR   73.755
Region de Bruxelles-Ca  1.1006/22/2066   EUR   63.227
Vontobel Financial Pro  7.50012/23/2022  USD   68.760
BNG Bank NV             0.63007/11/2067  EUR   65.027
Region Wallonne Belgiu  1.22006/12/2050  EUR   72.287
Ukraine Government Bon 11.50010/25/2023  UAH   56.736
Thames Water Utilities  2.44205/12/2050  GBP   66.761
Batigere Grand Est SAH  1.70911/04/2042  EUR   65.894
Specialfastigheter Sve  1.2809/20/2049   SEK   61.223
Minicentrales Dos SA    0.01006/06/2047  EUR   66.875
Citigroup Global Marke 12.00011/01/2022  EUR    2.005
SG Issuer SA            6.1301/20/2024   SEK   61.750
Havila Shipping ASA     5.41001/02/2025  NOK   30.897
Banco Espirito Santo S 10.00012/06/2021  EUR    0.185
Pescanova SA            8.7502/17/2019   EUR    0.319
Deutsche Agrar Holding  7.2509/28/2018   EUR    0.718
NRW Bank                0.4736/23/2049   EUR   71.871
RUSAL Bratsk OJSC       0.01004/07/2026  RUB   73.840
Peine GmbH              2.00007/05/2023  EUR   44.500
Hungary Government Int  1.50011/17/2050  EUR   60.545
Ukraine Government Int  9.9905/22/2024   UAH   74.750
SpareBank 1 SR-Bank AS  0.97010/09/2040  EUR   72.081
Skandinaviska Enskilda  9.5007/17/2023   SEK   57.610
Region Wallonne Belgiu  1.22509/02/2120  EUR   51.335
A-TEC Industries AG     5.75011/02/2010  EUR    0.100
Region Wallonne Belgiu  1.0009/16/2059   EUR   61.845
Lehman Brothers Treasu  2.92210/05/2035  EUR    0.100
Barclays Bank PLC       1.7509/29/2032   USD   64.785
International Finance   0.5006/29/2027   ZAR   67.690
Agrokor dd Via Aquariu  4.92108/08/2017  EUR   14.625
Landesbank Baden-Wuert  0.82002/01/2039  EUR   68.123
Republic of Ireland In  0.74011/27/2120  EUR   44.689
Ukraine Government Bon  9.99012/10/2031  UAH   22.622
Ukraine Government Bon 12.70010/30/2024  UAH   51.817
Region de Bruxelles-Ca  1.1441/14/2056   EUR   69.015
Italy Buoni Poliennali  2.15003/01/2072  EUR   73.776
SG Issuer SA            6.70007/10/2024  EUR   54.790
Portugal Telecom Inter  5.24211/06/2017  EUR    0.694
HPI AG                  3.500            EUR    0.500
Wirtschafts- und Infra  0.1921/28/2042   EUR   69.536
Societe Generale SA    11.00010/30/2036  USD   66.125
Alfa Bank AO Via Alfa   5.50010/26/2031  USD    7.932
Communaute Francaise d  1.0407/19/2101   EUR   59.366
UniCredit Bank AG       3.00008/03/2023  EUR   63.470
Purple Protected Asset  1.5805/25/2060   EUR   68.063
Ukraine Government Bon  9.70012/08/2032  UAH   21.567
Skandinaviska Enskilda  7.6001/15/2024   SEK   68.090
Region de Bruxelles-Ca  1.0656/22/2047   EUR   73.510
Societe Generale Effek  4.00011/22/2022  USD   65.650
Parnassia Groep BV      1.47012/03/2046  EUR   70.700
Agrar Mezogazdasagi Te  2.9008/24/2031   HUF   65.345
Santander Internationa  1.15004/08/2041  EUR   73.979
Raiffeisen Switzerland  4.0008/30/2022   CHF   32.470
Societe Generale SA     1.7001/19/2031   USD   74.958
Republic of Ireland In  0.7409/22/2078   EUR   59.365
KPNQwest NV            10.0003/15/2012   EUR    0.453
Windreich GmbH          6.50003/01/2015  EUR    4.475
Agrokor dd              9.87505/01/2019  EUR   15.000
Agrokor dd              9.12502/01/2020  EUR   15.000
MS Deutschland Beteili  6.87512/18/2017  EUR    0.210
Dr Wiesent Sozial gGmb  7.000            EUR    0.002
Norske Skog Holding AS  8.0002/24/2023   USD    0.006
Credit Agricole SA      3.0001/28/2041   AUD   56.651
Hunland Feed Kft        2.8807/21/2031   HUF   65.475
Leonteq Securities AG  18.00010/06/2022  CHF   49.780
Region de Bruxelles-Ca  0.27412/11/2040  EUR   68.821
UBS AG/London          16.1205/14/2027   SEK   72.760
Ukraine Government Int 12.5205/13/2026   UAH   58.619
Zurcher Kantonalbank F 12.9008/17/2022   CHF   26.420
Ukraine Government Bon 11.0006/21/2023   UAH   61.224
OTP Munkavallalok I sz  4.5007/14/2031   HUF   69.810
Nordea Bank Abp         5.4001/20/2025   SEK   71.870
Dtek Renewables Financ  8.50011/12/2024  EUR   32.758
UBS AG/London          10.00008/01/2023  USD   66.900
Batigere Grand Est SAH  1.4008/31/2050   EUR   56.040
Region de Bruxelles-Ca  0.6906/22/2050   EUR   63.590
Barclays Bank PLC       2.32001/11/2041  USD   65.608
Getin Noble Bank SA    11.72011/30/2023  PLN   28.357
United Utilities Water  1.4748/24/2031   USD   74.950
PA Resources AB        13.50003/03/2016  SEK    0.124
Solon SE                1.37512/06/2012  EUR    0.745
Virgolino de Oliveira  11.75002/09/2022  USD    0.500
Cooperatieve Rabobank   0.50012/29/2027  MXN   61.871
Deutsche Telekom AG     3.50009/06/2039  AUD   69.977
BNP Paribas SA          0.5009/29/2029   AUD   71.423
DZ Bank AG Deutsche Ze  5.6508/26/2022   EUR   69.120
National Grid Electric  2.9209/30/2044   AUD   70.322
Santander Internationa  1.3651/28/2061   EUR   66.171
Deutsche Bank AG        2.53010/07/2036  USD   74.471
Single Platform Invest  1.1035/25/2052   EUR   64.773
BNG Bank NV             2.0002/19/2038   AUD   69.760
Takarek Mortgage Bank   5.7505/27/2032   HUF   71.500
Societe Generale SA     2.20012/17/2040  USD   69.146
Single Platform Invest  0.9502/15/2044   EUR   68.221
Corner Banca SA        14.60012/13/2022  CHF   42.210
Credit Suisse AG/Londo  8.5002/14/2023   EUR   71.000
Air Berlin Finance BV   8.50003/06/2019  EUR    0.443
Landesbank Baden-Wuert  2.4108/26/2022   EUR   64.460
Ukraine Government Bon 11.5701/18/2023   UAH   67.095
UBS AG/London           5.5204/29/2041   USD   55.520
Barclays Bank PLC      13.8104/16/2024   TRY   66.197
Luminis SA              1.80009/02/2059  EUR   59.368
Hemso Fastighets AB     1.13010/31/2039  EUR   74.148
Novolipetsk Steel Via   4.0009/21/2024   USD   52.814
Cordia International I  3.0007/27/2030   HUF   59.000
Batigere Grand Est SAH  1.55008/12/2041  EUR   65.570
SG Issuer SA            8.7001/20/2025   SEK   35.580
State of Hesse          0.4509/23/2044   EUR   70.704
Communaute Francaise d  1.00010/08/2069  EUR   58.129
Premium Green PLC       1.0007/25/2040   EUR   73.012
Ukraine Government Int  7.75009/01/2028  USD   23.600
Specialfastigheter Sve  1.18012/02/2044  SEK   64.111
Hemso Fastighets AB     2.1274/18/2039   EUR   73.438
Deutsche Pfandbriefban  0.8579/18/2037   EUR   58.108
Bayer Construct Epitoi  3.70010/21/2031  HUF   64.625
Societe Generale SA     3.92012/09/2036  AUD   72.421
Societe Generale SA    12.00009/05/2024  USD   66.700
Single Platform Invest  0.74004/01/2042  EUR   67.354
UniCredit SpA           0.72511/27/2030  EUR   74.386
Basler Kantonalbank     9.00012/23/2022  CHF   52.060
Vontobel Financial Pro  9.0009/23/2022   EUR   63.310
DZ HYP AG               0.20506/05/2040  EUR   68.191
Republic of Ireland In  1.1805/25/2087   EUR   72.315
Region Wallonne Belgiu  1.5504/28/2120   EUR   66.961
Societe Generale Effek  5.75010/28/2022  EUR   74.030
UniCredit Bank AG      23.50010/28/2022  EUR   68.550
NIBC Bank NV            0.6607/14/2031   EUR   70.514
Rikshem AB              3.2505/31/2041   AUD   72.586
Land Berlin             0.5006/19/2047   EUR   72.306
Societe Generale SA     8.0005/28/2027   USD   38.800
Region de Bruxelles-Ca  0.5006/22/2040   EUR   72.763
Ukraine Government Bon  3.89002/02/2023  USD   68.878
Bpifrance SACA          1.0465/25/2050   EUR   73.144
State of Brandenburg    0.05008/10/2040  EUR   70.403
Takarek Mortgage Bank   3.0008/21/2030   HUF   59.150
SG Issuer SA            5.00004/02/2024  EUR   54.240
Ukraine Government Bon 11.7805/27/2026   UAH   37.769
Batigere Grand Est SAH  1.48510/25/2039  EUR   68.550
Ukraine Government Int  9.8402/15/2023   UAH   74.750
Berlin Hyp AG           1.15712/09/2039  EUR   72.316
Bayerische Landesbank   2.0508/26/2022   EUR   74.690
Vasakronan AB           1.65509/05/2039  SEK   67.608
Officine Maccaferri-Sp  5.75006/01/2021  EUR   19.820
STAVMAT Epitoanyag Ker  3.0007/20/2031   HUF   65.100
Getin Noble Bank SA     8.0408/30/2024   PLN   37.875
Skandinaviska Enskilda  8.5201/15/2024   SEK   69.340
State of Saarland       0.5003/15/2051   EUR   68.348
National Treasury Mana  1.19010/07/2101  EUR   64.886
Region de Bruxelles-Ca  0.55612/23/2064  EUR   49.534
Single Platform Invest  1.0406/25/2044   EUR   68.935
Single Platform Invest  0.6569/20/2050   EUR   56.429
Ville de Paris          0.96306/08/2050  EUR   69.966
Purple Protected Asset  1.48011/30/2060  EUR   70.394
UBS AG/London           7.3208/23/2023   USD    9.730
Leonteq Securities AG/  2.38011/10/2022  EUR   26.340
SG Issuer SA            9.1801/20/2025   SEK   36.340
Region Wallonne Belgiu  1.2226/24/2080   EUR   62.159
Barclays Bank PLC       7.0303/14/2023   USD    9.450
Cie de Financement Fon  0.9007/18/2058   EUR   66.192
Grand Delta Habitat     1.4252/26/2048   EUR   60.298
SG Issuer SA           14.30012/23/2022  USD   63.400
Republic of Ireland In  0.9952/24/2121   EUR   58.830
Ukraine Government Int 14.91010/12/2022  UAH   74.750
Grand Delta Habitat     1.28511/06/2040  EUR   65.109
Bayerische Landesbank   0.80010/16/2036  EUR   72.571
Ukraine Government Int 10.0008/23/2023   UAH   74.750
Ukraine Government Bon  6.00011/26/2025  UAH   32.091
Ukraine Government Bon  6.00011/12/2025  UAH   32.413
Muenchener Hypothekenb  0.25010/31/2044  CHF   71.954
Single Platform Invest  1.1505/25/2066   EUR   59.065
Romanian Government In  2.0001/28/2032   EUR   73.762
DZ Bank AG Deutsche Ze  1.0002/18/2032   EUR   71.019
Natixis SA              2.92009/05/2039  AUD   70.553
Norwegian Air Shuttle   7.50011/10/2023  USD   74.302
Cooperatieve Rabobank   0.50011/30/2027  MXN   62.442
Communaute Francaise d  0.7888/30/2049   EUR   64.185
BAE Systems PLC         3.0009/15/2050   USD   73.954
Virgolino de Oliveira  10.8751/13/2020   USD   36.000
Vontobel Financial Pro  4.30009/01/2022  EUR   73.840
Leonteq Securities AG/  8.00009/05/2022  CHF   59.150
Erste Group Bank AG     1.01010/07/2041  EUR   71.858
Credit Agricole SA      3.27010/05/2041  AUD   60.491
Biznes Nedvizhimost JS 10.80012/18/2026  RUB   62.000
Landesbank Hessen-Thue  1.05011/17/2060  EUR   73.858
Flextronics Internatio  3.60012/06/2031  HUF   61.000
Zurcher Kantonalbank F 21.25010/04/2022  CHF   66.820
Landesbank Baden-Wuert  0.6402/26/2036   EUR   70.632
LFA Foerderbank Bayern  0.2509/30/2039   EUR   73.751
Communaute Francaise d  0.7499/16/2080   EUR   61.495
United Kingdom Gilt     0.50010/22/2061  GBP   52.144
Societe Du Grand Paris  0.57610/29/2052  EUR   60.053
Credit Suisse AG/Londo  8.0008/16/2024   USD    8.960
BNP Paribas SA          3.17001/07/2041  AUD   67.596
Raiffeisen Centrobank   6.50012/21/2023  EUR   66.640
Kommunekredit           2.2009/27/2041   AUD   69.790
Deutsche Pfandbriefban  0.71009/10/2031  EUR   73.515
ING Groep NV            0.9752/14/2034   EUR   68.141
Zurcher Kantonalbank F  8.0001/18/2023   CHF   62.890
Single Platform Invest  0.9152/15/2043   EUR   69.817
Barclays Bank PLC       0.4333/14/2023   USD    9.075
Credit Bank of Moscow   7.1216/25/2024   USD   20.769
Basler Kantonalbank     8.00011/28/2022  CHF   69.960
Wirtschafts- und Infra  0.5008/28/2046   EUR   69.468
Heta Asset Resolution   0.90512/31/2023  EUR    3.198
Getin Noble Bank SA     8.9108/31/2023   PLN   48.875
Aargau Verkehr AG       0.27011/29/2049  CHF   71.955
Willhem AB              1.82410/18/2038  SEK   69.193
SAir Group              2.12511/04/2004  CHF   12.625
Regie Autonome des Tra  0.8758/18/2080   EUR   63.807
Region de Bruxelles-Ca  0.8459/30/2059   EUR   58.945
HOCHTIEF AG             2.3004/26/2034   EUR   73.913
HSBC Continental Europ  2.89009/11/2039  AUD   70.305
Credit Agricole Corpor  2.9308/20/2039   AUD   72.470
Heta Asset Resolution   4.87512/31/2023  EUR    3.198
City of Predeal Romani  7.1505/15/2026   RON   69.000
Russian Railways JSC    9.7308/18/2033   RUB   55.010
Ukraine Government Bon  6.5007/26/2023   UAH   57.541
Tonon Luxembourg SA    12.5005/14/2024   USD    0.399
Hell Energy Magyarorsz  3.0007/28/2031   HUF   65.500
BPCE SA                 2.25503/12/2040  AUD   58.388
DZ Bank AG Deutsche Ze  6.85011/25/2022  EUR   67.580
Ukraine Government Bon  3.90010/05/2023  USD   44.170
State of Brandenburg    0.30011/17/2045  EUR   67.978
Muenchener Hypothekenb  1.00303/09/2060  EUR   72.883
Single Platform Invest  0.8332/15/2041   EUR   69.100
Metal Hungaria Holding  3.00011/17/2030  HUF   64.000
OPUS TIGAZ Gazhalozati  2.8003/24/2031   HUF   70.000
UBS AG/London          15.00011/25/2022  USD   71.300
Purple Protected Asset  1.59802/05/2061  EUR   74.532
Illes Holding Zrt       5.0002/22/2032   HUF   72.600
Leonteq Securities AG/  7.00011/07/2022  CHF   71.380
Societe Generale SA     0.70511/12/2035  EUR   73.860
Zurcher Kantonalbank F 11.60011/10/2022  EUR   42.010
Credit Suisse AG/Londo 15.65010/31/2022  USD   29.500
Landesbank Baden-Wuert  5.9509/23/2022   EUR   57.940
Corner Banca SA        12.80012/07/2022  CHF   50.790
Ville de Paris          1.16506/09/2053  EUR   72.743
Landesbank Baden-Wuert  3.94011/25/2022  EUR   66.540
Kommunekredit           0.34209/01/2042  EUR   72.595
Single Platform Invest  0.78004/01/2042  EUR   66.529
Kommunekredit           2.1807/16/2040   AUD   69.150
Barclays Bank PLC       4.25007/07/2023  USD    8.748
Getin Noble Bank SA    11.2606/28/2024   PLN   22.875
Banco Santander SA      0.01010/01/2032  EUR   71.971
Region de Bruxelles-Ca  1.25001/10/2060  EUR   69.384
Koks PAO                9.2008/16/2023   RUB   60.050
Landesbank Hessen-Thue  1.0007/15/2060   EUR   72.584
Natixis SA              0.3006/25/2048   USD   32.433
Romanian Government In  4.0002/14/2051   USD   74.149
Hellas Telecommunicati  6.0541/15/2015   USD    0.001
Grupo Isolux Corsan SA  1.00012/30/2021  EUR    0.145
Single Platform Invest  0.6956/25/2039   EUR   69.962
Ville de Paris          0.7605/25/2066   EUR   54.736
UBS AG/London           0.90411/23/2025  EUR   58.500
ECM Real Estate Invest  5.00010/09/2011  EUR   15.375
Italy Buoni Poliennali  1.70009/01/2051  EUR   71.150
Single Platform Invest  0.8879/20/2039   EUR   73.133
Province of Brescia It  1.2126/30/2036   EUR   70.865
Kuntarahoitus Oyj       0.2506/28/2040   CAD   40.812
Kreditanstalt fuer Wie  0.25010/06/2036  CAD   50.414
BNP Paribas SA          0.50011/16/2032  MXN   34.598
Cooperatieve Rabobank   0.5008/21/2028   MXN   58.437
Phosphorus Holdco PLC  10.00004/01/2019  GBP    1.360
Northland Resources AB 15.0007/15/2019   USD    2.621
Leonteq Securities AG   8.00003/06/2023  CHF   70.600
UBS AG/London           6.50012/29/2023  USD   60.000
Zurcher Kantonalbank F  7.00002/03/2023  CHF   48.640
Autonomous Community o  1.13811/22/2052  EUR   63.770
BNG Bank NV             2.30003/03/2036  AUD   74.672
UBS AG/London          14.25002/03/2023  CHF   59.100
Landeskreditbank Baden  1.02504/01/2061  EUR   74.338
Landesbank Baden-Wuert  0.90504/01/2041  EUR   67.786
Region de Bruxelles-Ca  0.6502/15/2061   EUR   54.864
DekaBank Deutsche Giro  1.58512/28/2035  EUR   74.105
Purple Protected Asset  1.56512/23/2060  EUR   71.843
Single Platform Invest  0.8735/25/2052   EUR   58.534
Caisse des Depots et C  0.39812/15/2050  EUR   67.515
Turkiye Ihracat Kredi  12.5409/14/2028   TRY   40.555
Leonteq Securities AG  22.80011/02/2022  CHF   57.170
MOL Nyrt Kueloenleges   4.9501/26/2032   HUF   71.760
Credit Agricole Corpor 23.8203/15/2027   TRY   73.082
UBS AG/London           5.2505/31/2023   EUR   67.400
Kuntarahoitus Oyj       0.4483/19/2040   EUR   74.989
Vasakronan AB           2.4006/20/2044   SEK   71.203
Region de Bruxelles-Ca  1.0291/14/2048   EUR   73.050
Credit Suisse AG/Londo 20.00011/29/2024  USD   11.889
Ukraine Government Int  7.2533/15/2035   USD   19.350
Ukraine Government Bon  3.70012/22/2022  USD   74.223
Credit Agricole SA      4.4002/24/2042   AUD   71.527
LFA Foerderbank Bayern  0.16001/02/2040  EUR   71.888
Takarek Mortgage Bank   2.60010/22/2028  HUF   62.600
HSBC Bank PLC          10.30012/20/2024  TRY   55.555
Cattles Ltd             8.12507/05/2017  GBP    0.027
Vasakronan AB           1.77010/26/2033  NOK   73.109
Skandinaviska Enskilda  6.5001/15/2024   SEK   66.750
Batigere Grand Est SAH  1.54011/04/2041  EUR   65.044
Communaute Francaise d  1.1879/16/2069   EUR   69.122
Heta Asset Resolution   5.27012/31/2023  EUR    5.179
IT Holding Finance SA   9.87511/15/2012  EUR    0.015
Pongs & Zahn AG         8.50011/01/2014  EUR    0.101
Pick Szeged Szalamigya  2.00012/06/2029  HUF   61.455
DZ Bank AG Deutsche Ze  0.9106/25/2029   EUR   68.610
VEB-Leasing AO          6.9101/16/2024   RUB   74.600
BNP Paribas SA          1.0001/23/2040   MXN   23.933
Single Platform Invest  1.0482/15/2041   EUR   71.431
Air Berlin Finance BV   6.00003/06/2019  EUR    0.432
Northland Resources AB 15.0007/15/2019   USD    2.621
Veneto Banca SpA        6.9445/15/2025   EUR    0.376
Sequa Petroleum NV      5.0004/29/2020   USD   30.250
Landesbank Baden-Wuert  3.9001/27/2023   EUR   62.170
Liga Bank eG Regensbur  0.0101/29/2036   EUR   73.899
Single Platform Invest  1.2508/15/2051   EUR   67.801
UBS Group AG            2.21011/24/2035  USD   73.679
Grenke Finance PLC      0.8192/15/2030   EUR   64.297
Ukraine Government Int 15.9704/19/2023   UAH   74.750
Landesbank Baden-Wuert  3.0007/26/2024   EUR   70.420
Ukraine Government Bon  9.7905/14/2031   UAH   22.547
State of Lower Austria  0.55011/13/2080  EUR   45.804
Aktia Bank Oyj          0.85012/21/2040  EUR   73.825
UBS AG/London           0.1205/25/2040   MXN   16.743
DekaBank Deutsche Giro  3.19010/26/2022  EUR   59.690
Anselma Issuer SA       2.17412/31/2038  EUR   70.580
Alfa Bank AO Via Alfa   5.900            USD    7.975
Aareal Bank AG          0.5204/18/2031   EUR   70.981
Senvion Holding GmbH    3.87510/25/2022  EUR    0.255
Landesbank Baden-Wuert  1.0003/18/2039   EUR   70.481
State of Rhineland-Pal  0.10010/01/2040  EUR   70.270
Opus Global Nyrt        2.80010/29/2029  HUF   67.000
SAir Group              6.25010/27/2002  CHF   12.625
Purple Protected Asset  2.1004/15/2060   EUR   70.811
Credit Suisse AG/Londo  9.7504/27/2023   USD   56.450
Raiffeisen Switzerland  9.0006/27/2023   USD   61.930
Norddeutsche Landesban  1.41007/07/2037  EUR   74.943
Deutsche Bank AG/Londo  0.50004/05/2038  MXN   24.686
OOO SPV Structural Inv  0.01009/01/2023  RUB   66.740
NTRP Via Interpipe Ltd 10.25008/02/2017  USD   26.500
Kreditanstalt fuer Wie  0.6201/14/2050   EUR   73.776
Ville de Paris          0.4648/20/2040   EUR   73.055
Nordea Bank Abp         8.5001/20/2025   SEK   58.990
Gazprom PJSC           17.69010/21/2043  RUB   70.000
Russian Railways JSC   18.83011/29/2028  RUB   55.010
Lehman Brothers Treasu  0.50012/20/2017  AUD    0.100
BNP Paribas SA          2.72012/12/2034  AUD   70.018
Agrokor dd              8.87502/01/2020  USD   15.000
Single Platform Invest  0.9607/22/2038   EUR   74.651
Veneto Banca SpA        6.9502/25/2025   EUR    0.376
Russian Railways JSC   17.6904/29/2043   RUB   55.010
Societe Generale SA     7.45003/06/2023  USD   60.400
Credit Suisse AG/Londo  4.4607/26/2023   USD    9.030
Russian Foreign Bond -  5.2506/23/2047   USD   38.923
Landesbank Baden-Wuert  4.65011/25/2022  EUR   70.370
Credit Suisse AG/Londo  4.6003/31/2023   USD    9.255
Credit Suisse AG/Londo  5.8806/28/2023   USD    8.950
UBS AG/London           9.00003/01/2023  EUR   67.900
UBS AG/London           7.0001/26/2024   USD   62.450
4iG Nyrt                2.9003/29/2031   HUF   66.355
Muenchener Hypothekenb  0.5502/18/2046   CHF   65.736
Landeskreditbank Baden  0.5472/18/2041   EUR   74.651
Region de Bruxelles-Ca  1.2256/21/2070   EUR   64.610
Landesbank Baden-Wuert  0.7206/22/2035   EUR   73.194
BPCE SA                 1.92012/09/2030  AUD   73.767
Land Baden-Wuerttember  0.3757/20/2048   EUR   67.488
Barclays Bank PLC       1.4509/24/2038   MXN   22.435
Ukraine Government Bon  8.52011/10/2033  UAH   18.785
Ukraine Government Bon  9.7607/23/2031   UAH   22.460
Ukraine Government Int  8.99402/01/2026  USD   24.253
Credit Suisse AG/Londo  4.60011/09/2022  USD    9.480
Erste Group Bank AG     6.2508/31/2022   EUR   66.100
Bayerische Landesbank   0.49004/09/2035  EUR   71.602
Ukraine Government Bon 11.50012/14/2022  UAH   70.789
Zurcher Kantonalbank F 12.00010/26/2022  USD   55.430
Societe Generale SA    10.00010/01/2036  USD   64.500
Credit Suisse AG/Londo  6.1909/14/2022   USD    9.790
Credit Suisse AG/Londo  8.50009/09/2022  EUR   57.450
Ukraine Government Bon  3.7004/27/2023   USD   62.850
Leonteq Securities AG  15.00011/23/2022  CHF   24.630
Harp Issuer PLC         1.4002/14/2032   USD   71.160
Single Platform Invest  1.7625/25/2066   EUR   69.629
Vontobel Financial Pro 13.4008/29/2022   EUR   52.090
Goldman Sachs & Co Wer  7.0006/21/2023   EUR   70.960
TMK PJSC                7.3502/28/2025   RUB   65.000
Goldman Sachs Internat  3.2003/16/2041   AUD   74.238
Getin Noble Bank SA    10.9304/29/2024   PLN   26.870
HSBC Bank PLC           0.5006/23/2027   MXN   64.345
Raiffeisen Schweiz Gen  5.0008/24/2022   CHF   66.970
Hamburgische Investiti  0.3802/24/2042   EUR   72.866
OTP Munkavallalok Ii S  4.5007/14/2031   HUF   69.810
Societe Generale SA    18.00011/02/2023  USD   17.375
Single Platform Invest  1.0856/20/2050   EUR   64.870
ENEL RUSSIA PJSC        8.60012/15/2022  RUB   61.000
Luzerner Kantonalbank   5.35012/16/2024  CHF   71.220
Credit Agricole Corpor  2.6107/27/2050   USD   62.505
Societe Wallonne de Fi  0.9137/31/2040   EUR   63.400
Single Platform Invest  1.20011/01/2040  EUR   74.281
Single Platform Invest  1.3016/25/2044   EUR   71.301
BNP Paribas SA          2.75010/24/2034  AUD   70.480
Societe Generale SA     9.00010/31/2034  USD   62.500
SAir Group              0.12507/07/2005  CHF   12.625
CDC Habitat SEM         1.1504/30/2037   EUR   72.743
SG Issuer SA            5.0005/23/2024   EUR   54.910
Single Platform Invest  0.9312/15/2040   EUR   72.175
Single Platform Invest  0.8116/28/2039   EUR   71.791
HSBC Bank PLC          10.30012/10/2024  TRY   55.807
State of Lower Austria  0.58510/11/2049  EUR   67.230
Republic of Ireland In  1.32011/28/2119  EUR   58.166
UniCredit Bank AG       7.6002/19/2024   EUR   72.790
Grupo Isolux Corsan SA  0.25012/30/2018  EUR    0.145
Heta Asset Resolution   5.92012/31/2023  EUR    3.198
Corner Banca SA        10.0009/21/2022   CHF   63.590
LSF9 Balta Issuer SARL  3.00012/31/2030  EUR   59.296
Solarwatt GmbH          7.00011/01/2015  EUR   15.500
Elli Investments Ltd   12.2506/15/2020   GBP   52.250
Lloyds Bank PLC         2.6371/16/2040   AUD   69.898
WEB Windenergie AG      6.500            EUR    0.010
Sistema PJSFC           7.50010/31/2025  RUB   70.000
Credit Suisse AG/Londo  6.25010/31/2025  USD   10.070
National Grid Electric  1.6088/24/2040   GBP   66.047
Rosbank PJSC            0.0104/30/2024   RUB   60.050
Ukraine Government Bon 13.3001/25/2023   UAH   66.958
Leonteq Securities AG  27.0009/30/2022   CHF   21.830
Bank Vontobel AG        7.2001/19/2027   EUR   74.100
Communaute Francaise d  1.0107/19/2051   EUR   66.857
DekaBank Deutsche Giro  3.8008/18/2022   EUR   35.820
Wingholding Zrt         3.0009/22/2031   HUF   53.800
VTB Bank PJSC           0.0108/26/2026   RUB   70.060
Ville de Paris          0.96312/06/2051  EUR   70.617
Single Platform Invest  0.80004/07/2042  EUR   66.801
Muenchener Hypothekenb  1.0006/30/2037   EUR   74.928
Hungary Government Bon  4.0004/28/2051   HUF   60.448
Land Thueringen         0.25003/05/2040  EUR   73.704
Credit Suisse AG/Londo  8.00010/21/2022  CHF   57.400
Single Platform Invest  0.81004/01/2042  EUR   66.977
UBS AG/London          15.00010/20/2022  USD   69.550
Credit Suisse AG/Londo 12.4009/25/2023   EUR   26.480
Muenchener Hypothekenb  0.8054/16/2036   EUR   74.735
Leonteq Securities AG/  7.0003/29/2023   CHF   68.290
Purple Protected Asset  1.5181/25/2061   EUR   73.333
Gazprombank JSC         6.40012/28/2030  RUB   70.000
BPCE SA                 3.00011/18/2036  AUD   71.841
Ukraine Government Int  9.75011/01/2030  USD   24.346
Ukraine Government Bon  9.70006/02/2032  UAH   21.770
MASTERPLAST Nyrt        2.10012/21/2027  HUF   70.000
Danske Bank A/S         7.47007/09/2023  SEK   71.560
UniCredit Bank AG       1.5001/31/2040   EUR   68.080
Credit Suisse AG/Londo 14.00011/02/2022  CHF   50.060
UBS AG/London          14.00011/10/2022  CHF   71.450
Bank Vontobel AG       18.75011/14/2022  CHF   28.900
Bank Julius Baer & Co  11.05011/03/2022  USD   72.600
Nordea Bank Abp         2.0004/29/2027   SEK   74.320
Eurohold Bulgaria AD    8.00012/29/2026  EUR   65.000
Corner Banca SA        10.00005/02/2023  EUR   53.980
Landesbank Baden-Wuert  5.5709/23/2022   EUR   73.070
Thomas Cook Finance 2   3.8757/15/2023   EUR    1.429
Single Platform Invest  1.3906/25/2044   EUR   73.483
Societe Generale SA    15.80012/05/2024  USD   53.450
BNG Bank NV             0.63207/12/2066  EUR   65.597
OR PJSC                13.50010/22/2025  RUB    8.110
Single Platform Invest  0.80012/20/2040  EUR   70.389
Region Wallonne Belgiu  1.1656/29/2059   EUR   65.776
Single Platform Invest  0.6562/15/2046   EUR   59.814
Single Platform Invest  0.9012/15/2041   EUR   71.318
Single Platform Invest  1.5003/20/2051   EUR   71.840
SG Issuer SA            0.2632/20/2025   EUR   19.290
Sonnedix Energy Tau SA  2.20012/31/2038  EUR   73.000
Grand Delta Habitat     1.8203/18/2050   EUR   65.908
Bayerische Landesbank   2.3502/23/2024   EUR   71.290
Kommunekredit           1.33610/01/2032  AUD   74.124
Oberoesterreichische L  0.65010/15/2035  EUR   73.600
Leonteq Securities AG/  0.01010/16/2023  EUR   74.280
Societe Generale SA     1.5809/16/2024   USD    1.470
CDC Habitat SEM         1.04305/12/2036  EUR   73.440
Batigere Grand Est SAH  1.61010/23/2040  EUR   67.952
Batigere Grand Est SAH  1.55011/14/2039  EUR   69.223
Erste Group Bank AG     8.5001/31/2023   EUR   66.950
Norddeutsche Landesban  1.09011/15/2043  EUR   74.939
UBS AG/London           7.0001/20/2023   CHF   61.200
Ukraine Government Int  7.75009/01/2026  USD   20.569
Bayerische Landesbank   2.1501/27/2023   EUR   66.000
Single Platform Invest  0.8533/20/2040   EUR   70.291
Region de Bruxelles-Ca  0.72010/17/2051  EUR   63.760
Golfino AG              8.00011/18/2023  EUR    0.020
SAir Group              4.25002/02/2007  CHF   12.625
Lehman Brothers Treasu  2.8753/14/2013   CHF    0.100
Bayerische Landesbank   2.10010/28/2022  EUR   72.250
State of Hesse          0.10010/01/2037  EUR   73.792
MASTERPLAST Nyrt        2.00012/06/2026  HUF   75.000
Astana Finance BV       9.00011/16/2011  USD   15.250
Bayerische Landesbank   2.1509/23/2022   EUR   73.500
UBS AG/London           2.7009/16/2044   AUD   65.594
Depfa Funding II LP     6.500            EUR   61.594
Lehman Brothers Treasu  5.00011/22/2012  EUR    0.100
SAG Solarstrom AG       6.25012/14/2015  EUR   31.000
Windreich GmbH          6.25003/01/2015  EUR    4.475
Bayerische Landesbank   2.3002/24/2023   EUR   71.290
Cie Generale de Naviga  0.35012/29/2056  CHF   63.319
Tonon Luxembourg SA    12.5005/14/2024   USD    0.399
Bibby Offshore Service  7.5006/15/2021   GBP   11.625
Ukraine Government Bon 13.3004/26/2023   UAH   65.038
UkrLandFarming PLC     10.8753/26/2018   USD    1.336
New World Resources NV  4.00010/07/2020  EUR    0.311
Vontobel Financial Pro  5.20009/01/2022  EUR   70.240
Citigroup Global Marke  1.3707/27/2051   EUR   71.300
Ville de Paris          0.9215/26/2053   EUR   66.551
NRW Bank                0.6001/28/2051   EUR   72.415
Credit Agricole Corpor  1.30002/02/2061  EUR   68.377
Norddeutsche Landesban  1.13002/10/2039  EUR   70.469
Vontobel Financial Pro  7.5009/23/2022   EUR   71.840
DekaBank Deutsche Giro  4.7909/23/2022   EUR   48.840
MET Hungary Solar Park  3.80012/02/2031  HUF   64.050
Single Platform Invest  1.0756/26/2052   EUR   63.890
JP Morgan Structured P 11.00012/30/2026  ZMW
Berlin Hyp AG           0.75003/04/2050  EUR   72.897
UBS AG/London           8.00012/13/2024  USD    6.410
Leonteq Securities AG/ 24.00001/11/2023  CHF   38.310
Zurcher Kantonalbank F  8.1503/31/2023   CHF   58.680
Credit Suisse AG/Londo  7.75012/15/2022  CHF   57.990
Single Platform Invest  0.7203/20/2051   EUR   57.949
Credit Bank of Moscow   5.1502/20/2024   EUR   20.857
UBS AG/London          13.2504/20/2023   USD   54.400
UBS AG/London          13.25004/06/2023  USD   64.250
Region de Bruxelles-Ca  0.79607/02/2042  EUR   74.243
Single Platform Invest  0.8406/20/2043   EUR   67.523
Eltex Kft               3.50012/21/2028  HUF   65.800
Barclays Bank PLC       3.13004/09/2051  USD   73.331
Landesbank Baden-Wuert  0.6202/18/2036   EUR   70.415
JP Morgan Structured P 12.0008/28/2026   ZMW
Natixis SA              2.5208/24/2036   AUD   70.821
Societe Generale SA    15.00001/03/2024  USD   16.000
Ministeries Van de Vla  1.09506/03/2055  EUR   67.229
Nederlandse Waterschap  0.93212/02/2060  EUR   72.934
Landesbank Hessen-Thue  0.98011/09/2060  EUR   72.179
Region Wallonne Belgiu  1.0006/22/2045   EUR   71.865
Citigroup Global Marke  1.5005/13/2051   EUR   74.769
VTB Bank PJSC          23.750            RUB   75.000
Single Platform Invest  0.8706/20/2043   EUR   67.704
BrokerCreditService St  8.0001/30/2024   USD   62.170
Textura Kereskedelmi z  5.5002/28/2032   HUF   66.250
Societe Generale SA    24.00011/08/2024  USD   53.000
Sberbank of Russia PJS  0.01010/23/2026  RUB   65.200
Leonteq Securities AG/  9.93005/04/2023  USD   74.100
Vorosko Kereskedelmi E  4.7501/25/2032   HUF   68.000
Caisse des Depots et C  2.2059/28/2041   AUD   67.053
UBS AG/London           9.50011/30/2022  CHF   47.200
Republic of Ireland In  1.02009/10/2086  EUR   66.620
Leonteq Securities AG/ 24.00012/13/2022  CHF   36.120
Communaute Francaise d  1.5207/22/2069   EUR   72.379
Morgan Stanley & Co In  1.1056/18/2041   EUR   74.632
Kalita OOO             13.0009/21/2025   RUB    3.620
Single Platform Invest  1.1006/25/2044   EUR   69.699
Opus Global Nyrt        3.2004/29/2031   HUF   71.000
Leonteq Securities AG/ 11.00010/31/2022  USD   43.430
AB Financial Products   0.2387/30/2040   EUR   73.955
UBS AG/London          10.50010/28/2022  USD   47.300
Region de Bruxelles-Ca  1.04005/03/2061  EUR   64.052
Autonomous Community o  1.55005/11/2051  EUR   72.748
Single Platform Invest  0.8033/20/2041   EUR   67.802
UBS AG/London          12.00012/15/2022  CHF   43.600
Deutsche Bank AG/Londo 14.9005/30/2028   TRY   44.442
Single Platform Invest  1.1175/25/2066   EUR   58.339
OR PJSC                11.00012/29/2024  RUB    5.750
CDC Habitat SEM         1.17005/04/2037  EUR   72.983
Republic of Poland Gov  1.25010/25/2030  PLN   73.425
SG Issuer SA            2.91010/29/2034  AUD   70.328
Single Platform Invest  0.7853/20/2039   EUR   71.932
Tonon Luxembourg SA     9.2501/24/2020   USD    0.500
Resursosberezhenie HMA  9.5006/17/2031   RUB   60.050
DVM Construction Foval  3.0007/29/2030   HUF   59.900
Credit Agricole Corpor 11.34002/12/2026  TRY   49.052
Single Platform Invest  1.0805/25/2066   EUR   57.633
National Grid Electric  2.5007/24/2035   AUD   72.680
UBS AG/London           7.72009/01/2022  USD   69.197
Hemso Fastighets AB     2.68007/10/2035  AUD   73.246
Agence Francaise de De  0.36801/12/2046  EUR   70.444
Standard Chartered Ban  0.5201/22/2041   JPY   69.897
OR PJSC                12.00011/14/2024  RUB    5.120
Bayerische Landesbank   0.90011/29/2035  EUR   74.474
Bulgaria Steel Finance 12.00005/04/2013  EUR    0.216
Astana Finance BV       7.87506/08/2010  EUR   16.000
NRW Bank                0.80010/22/2060  EUR   70.179
Single Platform Invest  1.1052/15/2041   EUR   72.954
Societe Generale SA     3.8204/26/2039   AUD   70.856
Heta Asset Resolution   5.73012/31/2023  EUR    3.199
Single Platform Invest  1.1635/25/2066   EUR   59.696
HSBC Continental Europ  1.1408/26/2049   EUR   70.913
Single Platform Invest  0.6059/20/2042   EUR   64.984
Single Platform Invest  0.9242/18/2049   EUR   59.864
Lehman Brothers Treasu 10.00006/11/2038  JPY    0.100
VTB Bank PJSC Via VTB   9.500            USD    6.962
Mifa Mitteldeutsche Fa  7.50008/12/2018  EUR    2.410
Kalita OOO             13.0008/18/2024   RUB    3.240
Aareal Bank AG          0.6259/16/2030   EUR   73.398
WEB Windenergie AG      6.250            EUR    0.010
WEB Windenergie AG      5.25004/08/2023  EUR    0.010
WEB Windenergie AG      6.500            EUR    0.010
Ukraine Government Bon  6.00010/23/2024  UAH   43.843
Ukraine Government Bon 15.50010/02/2024  UAH   56.109
Single Platform Invest  1.4133/20/2051   EUR   70.706
EFG International Fina 15.00012/29/2022  EUR   70.620
Landesbank Baden-Wuert  4.3003/24/2023   EUR   70.760
Communaute Francaise d  0.75002/04/2061  EUR   54.831
Credit Industriel Et C  0.90002/04/2041  EUR   59.432
Single Platform Invest  1.05104/01/2042  EUR   70.572
Zurcher Kantonalbank F  6.0004/14/2023   CHF   41.040
Sberbank of Russia PJS  0.0101/15/2027   RUB   64.200
Leonteq Securities AG  10.00010/19/2022  CHF   22.450
Single Platform Invest  1.16506/06/2046  EUR   70.270
DekaBank Deutsche Giro  8.1008/26/2022   EUR   60.980
Credit Suisse AG/Londo 15.00011/29/2022  USD   27.730
Leonteq Securities AG/ 24.04009/02/2022  EUR   61.460
VTB Bank PJSC           0.01012/06/2024  RUB   65.900
Autonomous Community o  0.81010/31/2040  EUR   72.197
DekaBank Deutsche Giro  5.3308/26/2022   EUR   68.620
Credit Suisse AG/Londo 12.5008/18/2022   CHF   15.780
UBS AG/London           7.0008/18/2022   USD   48.100
Credit Suisse AG/Londo  9.00012/29/2022  USD   70.580
Deutsche Bahn Finance   1.1255/29/2051   EUR   72.519
Bank Julius Baer & Co  10.25010/05/2022  USD   43.300
Credit Suisse AG/Londo 14.5009/30/2022   USD   38.120
BNP Paribas SA          1.66003/04/2031  USD   73.938
Region Bourgogne-Franc  0.39712/03/2045  EUR   64.628
MKB-Leasing OOO        11.20012/22/2027  RUB   65.000
Ministeries Van de Vla  0.40011/20/2043  EUR   67.882
Leonteq Securities AG/ 22.20010/04/2022  CHF   21.420
Bank Vontobel AG        8.00512/27/2022  CHF   60.300
Bank Vontobel AG        9.00110/17/2022  CHF   54.600
Assistance Publique Ho  1.0535/25/2052   EUR   70.641
Leonteq Securities AG/ 10.0009/26/2022   EUR   62.310
Ukraine Government Bon  3.9003/30/2023   USD   66.147
Region de Bruxelles-Ca  0.7506/24/2042   EUR   73.556
GTC Magyarorszag Zrt    2.25012/07/2030  HUF   64.190
Oberoesterreichische L  0.76312/15/2050  EUR   71.525
Ville de Marseille      0.50912/17/2041  EUR   72.446
Metropole de Lyon       0.50012/28/2049  EUR   61.520
Ministeries Van de Vla  1.05306/03/2050  EUR   69.459
Single Platform Invest  0.52305/07/2041  EUR   64.557
Single Platform Invest  1.4807/25/2053   EUR   74.253
Ukraine Government Bon  6.00012/23/2026  UAH   25.006
Kometa 99 Elelmiszerip  5.0002/21/2032   HUF   72.600
Corner Banca SA        15.00011/21/2022  USD   28.900
DZ Bank AG Deutsche Ze  0.35011/10/2042  EUR   70.278
Region de Bruxelles-Ca  1.0204/30/2060   EUR   63.417
Erste Group Bank AG     4.50010/01/2025  EUR   55.950
Erste Group Bank AG     7.00012/01/2022  EUR   68.800
Republic of Ireland In  1.10011/12/2096  EUR   62.669
Single Platform Invest  0.81504/01/2042  EUR   65.364
Leonteq Securities AG  24.0409/14/2022   CHF   58.040
UBS AG/London          10.75005/10/2023  USD   71.600
DZ Bank AG Deutsche Ze 10.9009/23/2022   EUR   71.580
DekaBank Deutsche Giro  2.8108/26/2022   EUR   59.590
Ingrad AO              23.5002/27/2030   RUB   60.000
Societe Generale Effek 10.50010/28/2022  EUR   71.820
Landesbank Baden-Wuert  6.00011/25/2022  EUR   65.810
Barclays Bank PLC       6.4006/16/2031   MXN   65.106
Leonteq Securities AG/  9.00009/07/2022  CHF   52.070
Corner Banca SA        20.0009/13/2022   CHF   34.770
Ukraine Government Bon 15.8402/26/2025   UAH   61.230
Erste Group Bank AG     6.2503/29/2023   EUR   58.300
Single Platform Invest  3.50508/06/2046  AUD   74.827
DZ Bank AG Deutsche Ze  4.0506/23/2023   EUR   73.310
Leonteq Securities AG/ 24.80011/29/2022  CHF   27.330
Landesbank Baden-Wuert  6.75011/25/2022  EUR   41.610
Premium Green PLC       0.60010/31/2046  EUR   59.699
EFG International Fina 10.0002/20/2023   CHF   59.620
Landesbank Hessen-Thue  0.75011/17/2036  EUR   75.000
Societe Generale SA     9.0006/15/2023   USD   38.000
Region Wallonne Belgiu  1.3006/16/2068   EUR   65.369
Luzerner Kantonalbank   7.6008/16/2022   CHF   54.080
Landesbank Baden-Wuert  3.0509/23/2022   EUR   71.610
EFG International Fina 14.00010/13/2022  CHF   32.020
Landesbank Baden-Wuert  4.6504/28/2023   EUR   68.990
Caisse des Depots et C  2.7004/28/2041   AUD   73.008
Assistance Publique Ho  0.8003/23/2046   EUR   71.421
Nordea Bank Abp         4.0001/20/2029   SEK   73.960
Hamburgische Investiti  0.3722/22/2041   EUR   73.824
Corner Banca SA        12.60010/12/2022  EUR   64.170
UniCredit Bank AG       0.9003/24/2036   EUR   74.210
EFG International Fina 15.0008/24/2022   CHF   45.040
French Republic Govern  0.7505/25/2052   EUR   70.424
BPCE SA                 1.98010/06/2030  AUD   74.614
Aranynektar Termekgyar  3.50004/03/2030  HUF   56.663
Single Platform Invest  0.7536/25/2039   EUR   70.628
Batigere Grand Est SAH  1.60011/14/2039  EUR   70.248
SAir Group              5.5007/23/2003   CHF   12.625
Russian Railways JSC   16.1005/30/2040   RUB   50.010
Bank Vontobel AG       11.6006/20/2023   CHF   69.500
TransKomplektHolding O  9.50011/02/2028  RUB   60.100
Rosselkhozbank JSC     10.100            RUB   75.000
Societe Generale SA     2.4807/17/2040   USD   57.058
Cooperatieve Rabobank   0.54008/03/2040  EUR   73.675
Kuntarahoitus Oyj       0.72601/08/2060  EUR   57.017
Societe Generale SA     1.9001/15/2031   AUD   70.157
Leonteq Securities AG/  1.8101/25/2023   EUR   74.390
SG Issuer SA            2.91010/08/2034  AUD   70.354
Batigere Grand Est SAH  1.60011/14/2044  EUR   62.535
DZ Bank AG Deutsche Ze  0.09710/11/2050  EUR   74.050
UBS AG/London           6.75010/10/2022  CHF   74.450
Deutsche Bank AG/Londo  0.50010/18/2038  MXN   18.955
Erste Group Bank AG     7.7509/30/2024   EUR   67.900
Ukraine Government Bon  9.5007/16/2025   UAH   40.527
Credit Mutuel Arkea SA  0.73010/14/2036  EUR   73.955
Agence Francaise de De  2.36010/17/2044  AUD   66.680
Daniella Kereskedelmi   3.0007/30/2030   HUF   63.175
Credit Agricole Corpor  2.4808/18/2050   USD   60.620
ECM Real Estate Invest  5.00010/09/2011  EUR   15.375
Credit Agricole Corpor 10.15002/05/2025  TRY   53.838
State of Rhineland-Pal  0.60010/24/2046  EUR   72.890
Espirito Santo Financi  5.05011/15/2025  EUR    0.286
Rio Forte Investments   4.75011/10/2015  EUR    3.309
Raiffeisen Schweiz Gen  5.0009/13/2022   CHF   65.440
Pannonia Bio Ltd        2.4009/18/2029   HUF   64.360
Lehman Brothers Treasu  8.8751/28/2011   HKD    0.100
Heta Asset Resolution   0.15712/31/2023  EUR    3.199
Heta Asset Resolution   0.42912/31/2023  EUR    3.198
Lehman Brothers Treasu  2.9223/16/2035   EUR    0.100
Lehman Brothers Treasu 11.75003/01/2010  EUR    0.100
Lehman Brothers Treasu 11.00007/04/2011  CHF    0.100
Vasakronan AB           1.31012/10/2040  EUR   74.373
National Grid Electric  3.12012/10/2039  AUD   74.448
Northland Resources AB  4.00010/15/2020  USD    0.271
DeltaCredit Bank JSC    1.0005/18/2026   RUB   70.150
Hypo Vorarlberg Bank A  1.5908/25/2050   EUR   73.085
Region de Bruxelles-Ca  0.7318/25/2060   EUR   56.418
Ukraine Government Bon 12.5002/21/2024   UAH   54.613
Russian Railways JSC    9.3902/28/2040   RUB   50.010
Privatbank CJSC Via UK 10.8752/28/2018   USD    3.299
AKB Peresvet ZAO        0.51008/04/2034  RUB   26.310
Rio Forte Investments   3.90007/10/2014  USD    3.332
Ukraine Government Bon 15.50009/11/2024  UAH   56.798
Raiffeisen Schweiz Gen  8.0007/19/2023   CHF   60.380
Autonomous Community o  1.6467/30/2060   EUR   68.544
Leonteq Securities AG  30.0009/30/2022   CHF   22.830
BPCE SA                 2.2503/13/2040   AUD   59.170
BPCE SA                 2.2503/13/2040   AUD   58.702
BPCE SA                 2.73010/05/2036  AUD   69.193
NIBC Bank NV            0.4101/27/2031   EUR   70.039
Raiffeisen Schweiz Gen 12.00010/13/2022  CHF   74.370
Baromfi-Coop Termelo E  3.0007/19/2031   HUF   64.700
Trans-Sped Logisztikai  2.5003/16/2030   HUF   64.375
BNP Paribas Emissions- 16.00012/22/2022  EUR   67.070
Credit Suisse AG/Londo  8.00011/29/2022  EUR   68.430
Deutsche Bank AG        2.01012/10/2052  EUR   64.766
Leonteq Securities AG/ 24.1908/30/2022   CHF   17.770
DZ Bank AG Deutsche Ze  1.20011/25/2050  EUR   74.586
Leonteq Securities AG/  9.00010/26/2022  EUR   62.450
Credit Suisse AG/Londo 13.5008/17/2022   CHF   20.140
Autonomous Community o  1.08910/31/2049  EUR   66.255
Credit Suisse AG/Londo  7.50010/20/2022  USD   73.540
UBS AG/London           9.2501/30/2023   USD   32.700
Region de Bruxelles-Ca  0.82907/02/2043  EUR   73.533
UBS AG/London           8.2504/21/2023   CHF   60.100
Raiffeisen Switzerland  9.25010/06/2022  CHF   58.050
Single Platform Invest  1.23512/20/2050  EUR   67.763
Single Platform Invest  1.01312/20/2050  EUR   61.759
Raiffeisen Schweiz Gen  8.00010/06/2022  CHF   55.710
Communaute Francaise d  0.3921/22/2041   EUR   70.131
Bank Vontobel AG       15.0019/13/2022   CHF   23.500
Bank Vontobel AG       14.0009/19/2022   CHF   20.200
Raiffeisen Schweiz Gen  9.5408/23/2022   CHF   56.400
MASTERPLAST Nyrt        2.9008/25/2031   HUF   61.000
VTB Bank PJSC          17.750            RUB   51.630
Agence France Locale    0.33012/20/2040  EUR   74.312
SkyGreen Buildings Kft  3.00012/29/2030  HUF   58.400
Leonteq Securities AG/ 11.07011/30/2022  USD   33.530
Natixis SA              2.9555/28/2050   USD   71.233
Landesbank Baden-Wuert  0.8206/15/2034   EUR   74.988
Credit Agricole Corpor 18.5403/24/2027   TRY   67.305
Ukraine Government Bon  8.31011/10/2034  UAH   18.132
Ukraine Government Bon  6.0009/18/2030   UAH   15.390
Ukraine Government Bon  9.70003/10/2032  UAH   21.901
DekaBank Deutsche Giro  5.10006/04/2024  EUR   64.080
UBS AG/London          11.50011/14/2022  EUR   68.100
Zurcher Kantonalbank F  4.4808/22/2022   USD   54.420
Ukraine Government Bon 11.30005/10/2025  UAH   44.629
GVC George's Venture C  2.50012/18/2030  HUF   68.635
Wirtschafts- und Infra  0.20012/14/2045  EUR   64.752
Single Platform Invest  0.4572/15/2046   EUR   57.810
Leonteq Securities AG  26.0409/20/2022   CHF   21.810
Deutsche Pfandbriefban  0.4805/19/2031   EUR   72.538
Corner Banca SA         6.50011/21/2022  CHF   43.810
NIBC Bank NV            2.10510/10/2033  EUR   74.852
BNP Paribas Emissions- 16.00012/22/2022  EUR   64.000
Leonteq Securities AG  20.4109/14/2022   CHF   16.800
BNP Paribas Emissions- 12.00012/21/2023  EUR   70.300
UBS AG/London           9.50005/10/2023  CHF   54.850
Leonteq Securities AG  18.00011/15/2022  CHF   30.190
Metal Hungaria Holding  3.50011/16/2031  HUF   67.000
Corner Banca SA        20.00011/01/2022  USD   34.680
Landesbank Hessen-Thue  0.90007/08/2036  EUR   73.015
Leonteq Securities AG/ 10.00012/07/2022  USD   38.200
Dyadya Doner OOO       13.5004/25/2023   RUB   14.500
Leonteq Securities AG/ 25.00009/07/2022  CHF   19.210
Republic of Belarus In  6.2002/28/2030   USD   12.667
Luzerner Kantonalbank  23.1008/15/2022   CHF   37.800
Landesbank Baden-Wuert  0.75008/12/2039  EUR   74.060
Landesbank Baden-Wuert  1.3006/21/2049   EUR   67.586
Bank Vontobel AG       13.90006/06/2023  CHF   72.100
Leonteq Securities AG/ 20.0008/23/2022   USD   20.800
KESZ Holding Business   4.10011/17/2031  HUF   73.065
Credit Industriel Et C  1.1701/28/2037   EUR   70.842
Assistance Publique Ho  0.6348/27/2045   EUR   69.148
Leonteq Securities AG/ 16.0008/30/2022   CHF   21.710
Leonteq Securities AG  24.24010/19/2022  CHF   30.920
Sberbank of Russia PJS  0.01010/09/2026  RUB   70.010
Single Platform Invest  1.0332/15/2046   EUR   66.295
Raiffeisen Schweiz Gen 18.0008/23/2022   CHF   20.340
Leonteq Securities AG/ 20.40012/09/2022  CHF   31.720
Region de Bruxelles-Ca  0.93005/03/2051  EUR   68.333
Barclays Bank PLC       3.0203/26/2051   USD   71.796
Specialfastigheter Sve  1.1202/19/2044   SEK   63.183
VTB Bank PJSC           0.0107/29/2026   RUB   70.060
Single Platform Invest  1.00010/31/2040  EUR   72.149
Raiffeisen Switzerland  7.7008/19/2022   CHF   54.550
Wellis Magyarorszag Ke  3.0002/26/2031   HUF   67.294
UBS AG/London           6.5008/24/2022   CHF   11.640
Citigroup Global Marke  1.0003/19/2041   EUR   71.563
SUN Group Kereskedelmi  5.5001/17/2032   HUF   65.700
OR PJSC                16.00011/22/2025  RUB   20.890
Skandinaviska Enskilda  8.3007/17/2023   SEK   56.670
UBS AG/London          11.00010/14/2022  EUR   67.000
CDC Habitat SEM         1.7003/21/2039   EUR   74.840
Tonon Luxembourg SA     9.2501/24/2020   USD    0.500
WEB Windenergie AG      2.2509/25/2028   EUR    0.010
Credit Agricole Corpor  5.4001/31/2028   BRL   73.366
OR PJSC                12.6009/28/2025   RUB    5.900
Leonteq Securities AG  23.40010/25/2022  CHF   30.620
Credit Bank of Moscow   3.1001/21/2026   EUR   19.970
Kalita OOO             15.00009/12/2023  RUB    3.960
Deutsche Bank AG/Londo  2.2004/14/2023   EUR   61.080
Landesbank Baden-Wuert  1.5004/24/2039   EUR   74.830
Communaute Francaise d  1.1409/20/2059   EUR   70.342
Region Wallonne Belgiu  1.15009/02/2120  EUR   50.343
BNP Paribas SA          3.5907/20/2040   AUD   72.364
Region de Bruxelles-Ca  0.9101/31/2053   EUR   66.485
OR PJSC                16.00011/26/2025  RUB   26.220
KPNQwest NV             7.12506/01/2009  EUR    0.453
KPNQwest NV             8.87502/01/2008  EUR    0.453
Lehman Brothers Treasu  5.10005/08/2017  HKD    0.100
Lehman Brothers Treasu  2.5008/23/2012   GBP    0.100
Norddeutsche Landesban  1.47012/23/2037  EUR   74.807
Natixis SA              3.1601/30/2050   AUD   68.609
Raiffeisen Schweiz Gen  5.60011/29/2022  CHF   74.210
Akademiska Hus AB       1.2522/13/2043   SEK   67.847
Bayerische Landesbank   1.20011/25/2022  EUR   66.140
KPNQwest NV             8.87502/01/2008  EUR    0.453
Petromena ASA           9.7505/24/2016   NOK    0.607
Credit Agricole Corpor 13.20010/23/2023  TRY   74.236
SFO VTB Investment Pro  0.01011/13/2023  RUB   74.810
DZ Bank AG Deutsche Ze  1.2509/30/2060   EUR   73.949
Deutsche Pfandbriefban  0.76509/12/2036  EUR   58.942
Lehman Brothers Treasu  5.25004/01/2023  EUR    0.100
Teksid Aluminum Luxemb 12.3757/15/2011   EUR    0.122
Norske Skogindustrier   7.12510/15/2033  USD    0.010
Landesbank Baden-Wuert  1.25006/05/2039  EUR   74.250
Lehman Brothers Treasu 15.00006/04/2009  CHF    0.100
MARSO Ltd               2.30012/17/2029  HUF   66.705
Centrosolar Group AG    7.0002/15/2016   EUR    2.505
Northland Resources AB  4.00010/15/2020  NOK    0.271
LP Portfolio Vagyonkez  2.64001/08/2030  HUF   68.140
Communaute Francaise d  1.3671/20/2070   EUR   74.198
SAir Group              2.7507/30/2004   CHF   12.625
OR PJSC                11.5007/28/2024   RUB    5.800
Dolphin Drilling ASA    4.4908/28/2019   NOK    0.644
SG Issuer SA            0.10006/11/2029  NZD   70.484
Bibby Offshore Service  7.5006/15/2021   GBP   11.625
Ukraine Government Bon 13.30002/01/2023  UAH   66.415
Norske Skog Holding AS  8.0002/24/2023   USD    0.006
Norddeutsche Landesban  1.28009/02/2039  EUR   72.579
State of North Rhine-W  0.2001/27/2051   EUR   61.518
Vajda-Papir Gyarto Ker  3.50011/16/2030  HUF   65.500
Sberbank of Russia PJS  0.01002/04/2027  RUB   73.200
Credit Agricole SA      3.45003/04/2041  AUD   59.809
BPCE SA                 2.32003/04/2036  USD   67.982
Republic of Ireland In  1.25010/08/2121  EUR   69.960
Slovenia Government Bo  1.1752/13/2062   EUR   68.338
Landesbank Baden-Wuert  2.1007/26/2024   EUR   73.900
Hungary Government Bon  3.0008/21/2030   HUF   72.271
Republic of Austria Go  0.7004/20/2071   EUR   60.614
Otthon Centrum Holding  3.0004/19/2031   HUF   74.100
Finland Government Bon  0.1254/15/2052   EUR   61.999
Societe Generale SA     2.0502/18/2031   AUD   70.918
KESZ Holding Business   2.8006/17/2031   HUF   67.230
Norddeutsche Landesban  1.05001/06/2039  EUR   69.397
Single Platform Invest  0.9082/15/2041   EUR   70.233
SG Issuer SA            9.0007/20/2023   SEK   59.750
Grand Delta Habitat     1.50006/02/2045  EUR   62.558
Landeskreditbank Baden  0.81212/16/2060  EUR   69.778
Ukraine Government Bon  9.70010/06/2027  UAH   28.391
MetMax Europe Zrt       3.00012/11/2030  HUF   63.300
Serbia International B  2.0509/23/2036   EUR   61.934
ENVIEN Magyarorszag Kf  2.5005/18/2031   HUF   65.915
VTB Bank PJSC           3.750            EUR   37.000
VTB Bank PJSC           0.0109/16/2026   RUB   67.510
Credit Suisse AG/Londo  1.0009/24/2035   EUR   72.089
Vontobel Financial Pro 10.00012/23/2022  EUR   60.110
Republic of Austria Go  0.7503/20/2051   EUR   74.798
SG Issuer SA            8.8007/20/2023   SEK   56.510
Banque Internationale  12.0001/19/2023   CHF   66.950
Societe Generale SA    18.00008/01/2024  USD   25.500
Single Platform Invest  0.7672/15/2041   EUR   68.490
Barclays Bank PLC       2.00005/07/2036  MXN   15.136
Romania Government Bon  4.2504/28/2036   RON   70.560
Credit Agricole Corpor  3.2003/19/2041   AUD   74.381
Societe Generale SA     2.6503/19/2031   AUD   74.677
Single Platform Invest  0.9322/15/2041   EUR   69.203
Alfa-Bank AO           10.20002/10/2025  RUB   65.000
Landesbank Baden-Wuert  2.5007/26/2024   EUR   68.810
Progress Etteremhaloza  3.0009/18/2030   HUF   64.100
Axial Javito Kereskede  2.0009/23/2030   HUF   57.903
State of Lower Austria  0.40010/13/2050  EUR   62.638
French Republic Govern  0.5005/25/2072   EUR   52.323
Societe Generale Effek  2.00010/19/2022  EUR   66.570
Russian Foreign Bond -  5.1003/28/2035   USD   47.257
TKK OOO                10.90812/31/2033  RUB   60.100
Erste Group Bank AG     1.0655/17/2041   EUR   72.990
Leonteq Securities AG/ 13.00012/27/2022  USD   31.980
Credit Suisse AG/Londo 20.00012/21/2022  USD   59.650
Standard Chartered Ban  0.50009/11/2040  JPY   69.877
Duna House Holding Nyr  3.00009/02/2030  HUF   71.750
I-Teco AO              14.5009/22/2022   RUB   61.000
Barclays Bank PLC      13.3509/28/2023   TRY   74.087
Ukraine Government Bon 11.7904/22/2026   UAH   38.330
Banca Popolare di Vice  9.50010/02/2025  EUR    0.095
Region de Bruxelles-Ca  0.6407/20/2045   EUR   68.066
Credit Agricole Corpor  2.10510/22/2035  USD   71.372
National Grid Electric  2.22612/19/2039  GBP   74.491
Hell Energy Magyarorsz  2.70012/18/2029  HUF   58.900
Bayerische Landesbank   2.15011/25/2022  EUR   62.040
Lehman Brothers Treasu  4.10006/10/2014  SGD    0.100
Societe Generale SA     5.05011/25/2036  USD   54.065
Ville de Paris          0.7588/20/2060   EUR   56.818
Pongs & Zahn AG         8.500            EUR    0.003
Lehman Brothers Treasu  4.60008/01/2013  EUR    0.100
Region de Bruxelles-Ca  0.65801/07/2041  EUR   73.034
Pescanova SA            6.75003/05/2015  EUR    0.319
Bilt Paper BV          10.360            USD    1.491
Agrokor dd              9.12502/01/2020  EUR   15.000
Laurel GmbH             7.12511/16/2017  EUR    7.750
Ukraine Government Bon  9.5003/19/2025   UAH   43.575
DZ Bank AG Deutsche Ze  5.2509/21/2022   EUR   60.790
Bank Julius Baer & Co  10.75012/01/2022  CHF   47.100
Raiffeisen Schweiz Gen  8.0002/27/2023   CHF   61.850
Raiffeisen Schweiz Gen 12.5008/30/2022   CHF   72.070
Raiffeisen Schweiz Gen  8.2002/27/2023   CHF   69.860
Bank Julius Baer & Co   6.50012/01/2022  CHF   72.750
Landesbank Baden-Wuert  1.2508/25/2023   EUR   66.920
Landesbank Baden-Wuert  2.6008/25/2023   EUR   62.600
Landesbank Baden-Wuert  5.2008/25/2023   EUR   55.050
Landesbank Baden-Wuert  3.6008/25/2023   EUR   71.370
Landesbank Baden-Wuert  4.6008/25/2023   EUR   73.820
Landesbank Baden-Wuert  1.2008/25/2023   EUR   68.840
Landesbank Baden-Wuert  2.0008/25/2023   EUR   64.760
Landesbank Baden-Wuert  3.6008/25/2023   EUR   60.650
Landesbank Baden-Wuert  2.6008/25/2023   EUR   62.640
Landesbank Baden-Wuert  3.6008/25/2023   EUR   59.990
Landesbank Baden-Wuert  3.5008/25/2023   EUR   67.140
Landesbank Baden-Wuert  4.7008/25/2023   EUR   64.100
Landesbank Baden-Wuert  5.5008/25/2023   EUR   69.030
Landesbank Baden-Wuert  4.6008/25/2023   EUR   66.870
Landesbank Baden-Wuert  6.2008/25/2023   EUR   62.850
Landesbank Baden-Wuert  6.1008/25/2023   EUR   50.270
Landesbank Baden-Wuert  3.7008/25/2023   EUR   74.760
DZ Bank AG Deutsche Ze  4.7509/19/2022   EUR   68.710
DZ Bank AG Deutsche Ze  4.75012/19/2022  EUR   65.850
DZ Bank AG Deutsche Ze  8.50012/19/2022  EUR   52.130
DZ Bank AG Deutsche Ze  7.0009/19/2022   EUR   66.100
DZ Bank AG Deutsche Ze  6.50012/19/2022  EUR   67.640
Vontobel Financial Pro 15.2509/23/2022   EUR   48.180
Leonteq Securities AG/ 18.0008/31/2022   CHF   17.950
Leonteq Securities AG/ 23.2008/30/2022   CHF   60.610
DZ Bank AG Deutsche Ze  9.8008/26/2022   EUR   52.490
DZ Bank AG Deutsche Ze  8.40012/23/2022  EUR   74.860
DZ Bank AG Deutsche Ze 11.2008/26/2022   EUR   67.640
DZ Bank AG Deutsche Ze  9.60012/23/2022  EUR   70.770
DZ Bank AG Deutsche Ze  6.90012/23/2022  EUR   68.930
DZ Bank AG Deutsche Ze  8.50012/23/2022  EUR   55.350
DZ Bank AG Deutsche Ze 11.3008/26/2022   EUR   52.000
DZ Bank AG Deutsche Ze  9.50012/23/2022  EUR   55.180
DZ Bank AG Deutsche Ze 13.50012/23/2022  EUR   71.990
DZ Bank AG Deutsche Ze 17.5008/26/2022   EUR   65.150
DZ Bank AG Deutsche Ze 18.8008/26/2022   EUR   50.190
DZ Bank AG Deutsche Ze 11.1008/26/2022   EUR   59.150
DZ Bank AG Deutsche Ze  9.40012/23/2022  EUR   62.340
DZ Bank AG Deutsche Ze  6.9008/26/2022   EUR   67.860
DZ Bank AG Deutsche Ze  5.80012/23/2022  EUR   69.660
DZ Bank AG Deutsche Ze  6.20012/23/2022  EUR   63.750
DZ Bank AG Deutsche Ze  8.00012/23/2022  EUR   60.260
Landesbank Baden-Wuert  2.50011/25/2022  EUR   72.480
Vontobel Financial Pro 18.2509/23/2022   EUR   41.790
Landesbank Baden-Wuert  2.2002/28/2025   EUR   72.900
Landesbank Baden-Wuert  3.1002/28/2025   EUR   64.830
Basler Kantonalbank    15.00009/01/2022  CHF   62.220
Zurcher Kantonalbank F 12.25009/08/2022  CHF   46.220
Zurcher Kantonalbank F 13.00009/08/2022  CHF   28.270
Zurcher Kantonalbank F 24.75009/09/2022  CHF   40.540
DZ Bank AG Deutsche Ze  5.2509/21/2022   EUR   55.420
DZ Bank AG Deutsche Ze 12.5009/21/2022   EUR   62.230
Societe Generale Effek  9.7508/26/2022   EUR   53.220
DZ Bank AG Deutsche Ze  7.7509/21/2022   EUR   62.820
DZ Bank AG Deutsche Ze  5.2509/21/2022   EUR   67.050
Bank Julius Baer & Co   6.75012/01/2022  CHF   65.100
Raiffeisen Schweiz Gen 18.0008/30/2022   CHF   48.220
Raiffeisen Schweiz Gen 11.00011/30/2022  CHF   52.260
Raiffeisen Schweiz Gen  5.0008/30/2023   CHF   67.990
DekaBank Deutsche Giro  4.6509/29/2022   EUR   67.190
Bank Julius Baer & Co  13.5008/31/2022   CHF   51.300
Landesbank Baden-Wuert  4.4008/25/2023   EUR   71.470
Landesbank Baden-Wuert  6.3008/25/2023   EUR   68.170
Landesbank Baden-Wuert  7.8008/25/2023   EUR   64.880
Landesbank Baden-Wuert  8.8008/25/2023   EUR   62.350
Landesbank Baden-Wuert  4.0008/25/2023   EUR   45.100
Landesbank Baden-Wuert  6.8008/25/2023   EUR   52.890
Landesbank Baden-Wuert  2.8008/25/2023   EUR   62.670
Landesbank Baden-Wuert  1.5008/25/2023   EUR   66.590
Landesbank Baden-Wuert  2.7008/25/2023   EUR   69.830
Landesbank Baden-Wuert  4.5008/25/2023   EUR   72.930
Landesbank Baden-Wuert  6.5008/25/2023   EUR   67.730
Landesbank Baden-Wuert  3.3008/25/2023   EUR   62.030
Landesbank Baden-Wuert  4.8008/25/2023   EUR   52.560
Landesbank Baden-Wuert  5.0008/25/2023   EUR   72.000
DZ Bank AG Deutsche Ze  4.7509/19/2022   EUR   62.070
DZ Bank AG Deutsche Ze  9.50012/19/2022  EUR   64.820
DZ Bank AG Deutsche Ze  5.00012/19/2022  EUR   71.970
DZ Bank AG Deutsche Ze  9.50012/19/2022  EUR   63.440
DZ Bank AG Deutsche Ze  5.00012/19/2022  EUR   51.640
Vontobel Financial Pro  6.5009/23/2022   EUR   72.260
Vontobel Financial Pro 10.0009/23/2022   EUR   69.320
Vontobel Financial Pro 12.5009/23/2022   EUR   61.410
Vontobel Financial Pro 10.0009/23/2022   EUR   70.510
Vontobel Financial Pro  7.0009/23/2022   EUR   57.390
Vontobel Financial Pro  6.0009/23/2022   EUR   59.220
Vontobel Financial Pro 11.0009/23/2022   EUR   52.720
Vontobel Financial Pro  9.5009/23/2022   EUR   54.160
Vontobel Financial Pro 13.5009/23/2022   EUR   72.800
Vontobel Financial Pro 12.5009/23/2022   EUR   73.390
Vontobel Financial Pro 14.5009/23/2022   EUR   70.600
Vontobel Financial Pro 13.0009/23/2022   EUR   72.130
Vontobel Financial Pro 12.0009/23/2022   EUR   73.930
Vontobel Financial Pro 14.0009/23/2022   EUR   70.410
Vontobel Financial Pro  9.5009/23/2022   EUR   62.690
Vontobel Financial Pro 12.5009/23/2022   EUR   58.240
Vontobel Financial Pro  6.5009/23/2022   EUR   68.000
Vontobel Financial Pro 11.0009/23/2022   EUR   70.110
Vontobel Financial Pro 10.0009/23/2022   EUR   29.830
Vontobel Financial Pro 14.0009/23/2022   EUR   27.030
Vontobel Financial Pro 12.5009/23/2022   EUR   27.870
Vontobel Financial Pro 11.5009/23/2022   EUR   28.830
Vontobel Financial Pro 15.0009/23/2022   EUR   26.220
Leonteq Securities AG/  8.6907/26/2023   CHF   66.200
Vontobel Financial Pro  8.5009/23/2022   EUR   54.280
Vontobel Financial Pro  2.5009/23/2022   EUR   53.670
UBS AG/London          12.0001/16/2023   CHF   22.320
Raiffeisen Schweiz Gen 12.00010/19/2022  CHF   74.950
Sberbank of Russia PJS  0.0107/23/2026   RUB   74.000
Sberbank of Russia PJS  0.0107/24/2028   RUB   57.800
Societe Generale Effek  4.0008/26/2022   EUR   65.700
Societe Generale Effek  5.0008/26/2022   EUR   62.390
Societe Generale Effek  6.0008/26/2022   EUR   59.730
Societe Generale Effek  7.0008/26/2022   EUR   57.490
Societe Generale Effek  8.0008/26/2022   EUR   55.570
Societe Generale Effek  8.5008/26/2022   EUR   67.010
Societe Generale Effek  9.0008/26/2022   EUR   66.090
Societe Generale Effek 13.5008/26/2022   EUR   40.910
Societe Generale Effek  8.0008/26/2022   EUR   74.820
Raiffeisen Centrobank   6.3819/21/2022   EUR   69.610
Raiffeisen Centrobank   7.2329/21/2022   EUR   69.310
Raiffeisen Centrobank   8.5089/21/2022   EUR   69.570
Societe Generale Effek  9.5008/26/2022   EUR   74.340
Societe Generale Effek 10.5008/26/2022   EUR   72.340
Societe Generale Effek 11.5008/26/2022   EUR   70.500
Raiffeisen Centrobank   0.8519/21/2022   EUR   61.810
Raiffeisen Centrobank   0.8519/21/2022   EUR   60.570
Raiffeisen Centrobank   1.7029/21/2022   EUR   74.460
Raiffeisen Centrobank   5.5309/21/2022   EUR   71.320
Societe Generale Effek  3.0008/26/2022   EUR   70.050
Societe Generale Effek  4.7508/26/2022   EUR   72.420
Societe Generale Effek  6.7508/26/2022   EUR   64.380
Societe Generale Effek  8.7508/26/2022   EUR   59.030
Societe Generale Effek 10.7508/26/2022   EUR   55.080
Societe Generale Effek 12.7508/26/2022   EUR   51.970
Societe Generale Effek  6.5008/26/2022   EUR   74.510
Societe Generale Effek  8.5008/26/2022   EUR   68.910
Societe Generale Effek 10.5008/26/2022   EUR   64.630
Societe Generale Effek  3.5008/26/2022   EUR   71.870
Societe Generale Effek  5.5008/26/2022   EUR   59.580
Societe Generale Effek  7.5008/26/2022   EUR   52.390
Societe Generale Effek  9.5008/26/2022   EUR   47.470
Societe Generale Effek 11.5008/26/2022   EUR   43.830
Leonteq Securities AG/ 11.0001/26/2023   USD   49.480
Leonteq Securities AG/ 10.00010/26/2022  CHF   50.880
Leonteq Securities AG/  8.4001/26/2023   CHF   60.000
Vontobel Financial Pro 10.5009/23/2022   EUR   46.230
Vontobel Financial Pro  5.0009/23/2022   EUR   56.300
Vontobel Financial Pro  4.0009/23/2022   EUR   64.880
Vontobel Financial Pro  7.5009/23/2022   EUR   50.680
Vontobel Financial Pro  5.5009/23/2022   EUR   73.990
Vontobel Financial Pro  7.0009/23/2022   EUR   66.430
Vontobel Financial Pro  8.0009/23/2022   EUR   52.130
Bank Vontobel AG        4.5007/21/2023   CHF   73.000
Bank Vontobel AG        9.5001/23/2023   CHF   69.200
Bank Vontobel AG        6.5001/24/2023   CHF   55.800
Bank Vontobel AG       12.5001/24/2023   CHF   60.300
Bank Vontobel AG       12.5001/24/2023   CHF   60.300
BNP Paribas Emissions-  6.9008/25/2022   EUR   72.430
Societe Generale Effek  5.5008/26/2022   EUR   73.790
Societe Generale Effek  6.0008/26/2022   EUR   72.420
Societe Generale Effek  6.5008/26/2022   EUR   71.080
Societe Generale Effek  7.0008/26/2022   EUR   69.930
Societe Generale Effek  7.5008/26/2022   EUR   68.870
Societe Generale Effek  8.0008/26/2022   EUR   67.870
Societe Generale Effek  7.7508/26/2022   EUR   56.600
Societe Generale Effek  8.7508/26/2022   EUR   55.140
Societe Generale Effek  8.0008/26/2022   EUR   73.870
Societe Generale Effek 10.0008/26/2022   EUR   69.450
Societe Generale Effek  9.5008/26/2022   EUR   67.570
Societe Generale Effek  3.7508/26/2022   EUR   65.400
Societe Generale Effek  4.7508/26/2022   EUR   62.480
Societe Generale Effek  5.7508/26/2022   EUR   60.180
Societe Generale Effek  6.7508/26/2022   EUR   58.300
Societe Generale Effek  6.5008/26/2022   EUR   73.840
Societe Generale Effek  7.5008/26/2022   EUR   71.680
Societe Generale Effek  8.5008/26/2022   EUR   69.800
DZ Bank AG Deutsche Ze  4.8009/19/2022   EUR   70.990
DZ Bank AG Deutsche Ze  5.6009/19/2022   EUR   69.450
DZ Bank AG Deutsche Ze  5.0009/19/2022   EUR   58.230
DZ Bank AG Deutsche Ze  5.7009/19/2022   EUR   57.050
DZ Bank AG Deutsche Ze  6.5009/19/2022   EUR   55.890
Corner Banca SA         8.2007/26/2023   CHF   61.070
Corner Banca SA        10.0001/23/2023   CHF   64.590
Leonteq Securities AG  10.00010/26/2022  CHF   20.480
Leonteq Securities AG  12.0001/26/2023   CHF   35.750
DZ Bank AG Deutsche Ze  4.7509/19/2022   EUR
DZ Bank AG Deutsche Ze  8.2509/19/2022   EUR   65.550
DZ Bank AG Deutsche Ze  7.0009/19/2022   EUR   52.960
Leonteq Securities AG/  9.0007/26/2023   USD   73.910
Raiffeisen Schweiz Gen  9.5001/26/2023   CHF   49.580
Raiffeisen Schweiz Gen  8.5001/23/2023   CHF   71.620
Raiffeisen Schweiz Gen  8.0001/23/2023   CHF   58.690
Bank Julius Baer & Co   7.60010/27/2022  CHF   72.800
Zurcher Kantonalbank F  6.7001/27/2023   EUR   57.960
Bank Vontobel AG       15.5001/24/2023   USD   58.100
UniCredit Bank AG      12.4008/17/2022   EUR   13.330
UniCredit Bank AG       5.7508/17/2022   EUR   70.590
Societe Generale SA    10.2607/28/2025   USD   64.070
Landesbank Baden-Wuert  3.2001/27/2023   EUR   70.210
Landesbank Baden-Wuert  4.6001/27/2023   EUR   66.180
Landesbank Baden-Wuert  6.8001/27/2023   EUR   61.380
Landesbank Baden-Wuert  2.3501/27/2023   EUR   64.020
Landesbank Baden-Wuert  3.3001/27/2023   EUR   53.340
Landesbank Baden-Wuert  5.1501/27/2023   EUR   48.950
Landesbank Baden-Wuert  7.2001/27/2023   EUR   45.470
Landesbank Baden-Wuert  2.0001/27/2023   EUR   67.200
Landesbank Baden-Wuert  4.0501/27/2023   EUR   62.150
Landesbank Baden-Wuert  2.7501/27/2023   EUR   43.860
Landesbank Baden-Wuert  4.7501/27/2023   EUR   39.780
Landesbank Baden-Wuert  3.1501/27/2023   EUR   74.350
Landesbank Baden-Wuert  4.0501/27/2023   EUR   72.000
Landesbank Baden-Wuert  2.0001/27/2023   EUR   68.340
Landesbank Baden-Wuert  2.9001/27/2023   EUR   65.040
Landesbank Baden-Wuert  5.4001/27/2023   EUR   58.900
Landesbank Baden-Wuert  2.0001/27/2023   EUR   68.190
Landesbank Baden-Wuert  3.0001/27/2023   EUR   64.400
Landesbank Baden-Wuert  4.3501/27/2023   EUR   61.220
Landesbank Baden-Wuert  1.7501/27/2023   EUR   63.520
Landesbank Baden-Wuert  2.6001/27/2023   EUR   60.870
Landesbank Baden-Wuert  3.7501/27/2023   EUR   58.170
Landesbank Baden-Wuert  5.4001/27/2023   EUR   54.070
Landesbank Baden-Wuert  7.2501/27/2023   EUR   50.380
Landesbank Baden-Wuert  4.5001/27/2023   EUR   74.650
Landesbank Baden-Wuert  4.2001/27/2023   EUR   64.500
Landesbank Baden-Wuert  6.6001/27/2023   EUR   54.940
Landesbank Baden-Wuert  8.7501/27/2023   EUR   49.900
Landesbank Baden-Wuert  4.1501/27/2023   EUR   67.110
Landesbank Baden-Wuert  6.6001/27/2023   EUR   59.710
Natixis SA              2.9307/29/2051   AUD   66.209
EFG International Fina 12.0001/30/2023   CHF   47.710
EFG International Fina 11.0001/30/2023   USD   60.370
Leonteq Securities AG/ 10.75010/28/2022  EUR   36.740
Landesbank Baden-Wuert  2.2508/22/2025   EUR   71.760
Landesbank Baden-Wuert  2.0008/22/2025   EUR   61.190
Landesbank Baden-Wuert  4.0008/22/2025   EUR   64.240
Raiffeisen Centrobank   7.50009/01/2023  EUR   62.340
Vontobel Financial Pro 16.5201/30/2023   EUR   66.010
Zurcher Kantonalbank F  6.00010/31/2022  CHF   63.710
Landesbank Baden-Wuert 10.0002/24/2023   EUR   74.970
Bank Julius Baer & Co   4.25010/31/2022  USD   59.000
Bank Julius Baer & Co   4.50010/31/2022  USD   68.900
Leonteq Securities AG/  7.7001/30/2023   EUR   69.270
UniCredit Bank AG       6.0509/30/2024   EUR   73.240
Bank Julius Baer & Co   7.60009/02/2022  USD   29.300
Sberbank of Russia PJS  0.0108/31/2028   RUB   56.500
Zurcher Kantonalbank F  5.00009/09/2022  CHF   73.460
Zurcher Kantonalbank F 17.00009/09/2022  CHF   59.780
Zurcher Kantonalbank F 27.0009/13/2022   USD   38.820
Zurcher Kantonalbank F 26.0009/13/2022   CHF   51.650
Landesbank Baden-Wuert  2.9008/22/2025   EUR   74.800
Vontobel Financial Pro  8.5009/23/2022   EUR   57.550
Vontobel Financial Pro  9.0009/23/2022   EUR   68.320
Vontobel Financial Pro  9.5009/23/2022   EUR   69.950
Vontobel Financial Pro  7.0009/23/2022   EUR   68.050
Vontobel Financial Pro 10.0009/23/2022   EUR   62.740
Vontobel Financial Pro 12.0009/23/2022   EUR   63.870
Vontobel Financial Pro 15.5009/23/2022   EUR   59.410
Vontobel Financial Pro 15.0009/23/2022   EUR   66.230
Vontobel Financial Pro 19.5009/23/2022   EUR   65.200
Vontobel Financial Pro  3.5009/23/2022   EUR   66.860
Vontobel Financial Pro 14.0009/23/2022   EUR   29.090
Vontobel Financial Pro 17.0009/23/2022   EUR   27.340
Vontobel Financial Pro  6.0009/23/2022   EUR   35.200
Vontobel Financial Pro  5.0009/23/2022   EUR   63.380
Vontobel Financial Pro  5.5009/23/2022   EUR   62.310
Vontobel Financial Pro 14.0009/23/2022   EUR   51.530
Vontobel Financial Pro 11.0009/23/2022   EUR   54.310
Vontobel Financial Pro  2.0009/23/2022   EUR   44.170
Vontobel Financial Pro  3.0009/23/2022   EUR   53.720
Vontobel Financial Pro  8.2509/23/2022   EUR   73.510
Vontobel Financial Pro 14.0009/23/2022   EUR   40.740
Vontobel Financial Pro  6.5009/23/2022   EUR   48.420
Leonteq Securities AG  23.32009/07/2022  CHF   45.550
Leonteq Securities AG  23.20009/07/2022  CHF   17.380
Leonteq Securities AG/ 12.00012/06/2022  CHF   66.190
Leonteq Securities AG/ 10.00003/06/2023  CHF   49.760
Leonteq Securities AG/  9.00003/07/2023  USD   50.730
Leonteq Securities AG/ 11.00009/07/2022  CHF   25.210
Leonteq Securities AG  16.00009/07/2022  CHF   52.220
Leonteq Securities AG   9.00009/06/2023  CHF   63.500
Corner Banca SA        10.00009/06/2022  CHF   68.460
Raiffeisen Schweiz Gen  4.00003/03/2023  CHF   26.620
Leonteq Securities AG  18.00009/07/2022  CHF   65.000
Corner Banca SA        20.00009/07/2022  USD   67.720
Leonteq Securities AG  15.00012/07/2022  CHF   51.380
Leonteq Securities AG/ 11.00012/06/2022  CHF   61.620
Leonteq Securities AG/ 20.00009/07/2022  USD   32.610
Leonteq Securities AG/ 10.00009/07/2023  USD   59.880
Leonteq Securities AG/  8.00003/07/2023  USD   41.670
Leonteq Securities AG/ 12.00009/06/2022  EUR   59.750
Zurcher Kantonalbank F 11.20009/06/2022  EUR   71.300
Zurcher Kantonalbank F 10.50009/06/2022  EUR   70.520
Zurcher Kantonalbank F  5.00009/06/2022  EUR   57.030
Bank Julius Baer & Co  12.50009/06/2022  CHF   43.450
Zurcher Kantonalbank F  6.5009/13/2022   CHF   67.380
Glavtorg LLC           14.50012/12/2024  RUB   39.000
Vontobel Financial Pro 16.50012/23/2022  EUR   74.060
Vontobel Financial Pro  8.50012/23/2022  EUR   71.260
Vontobel Financial Pro  9.50012/23/2022  EUR   65.260
Vontobel Financial Pro 18.00012/23/2022  EUR   63.570
Landesbank Baden-Wuert  0.44011/15/2042  EUR   73.935
Bank Julius Baer & Co  10.25012/29/2022  CHF   28.300
Credit Suisse AG/Londo  8.0003/22/2023   CHF   67.610
Leonteq Securities AG/ 24.12012/29/2022  CHF   55.420
Landesbank Baden-Wuert  3.2007/24/2026   EUR   71.570
Landesbank Baden-Wuert  4.0007/28/2023   EUR   71.630
Landesbank Baden-Wuert  5.5008/26/2022   EUR   68.740
EFG International Fina 17.00012/29/2022  CHF   49.170
EFG International Fina 14.0006/28/2023   CHF   59.310
Leonteq Securities AG/  8.0006/27/2023   USD   52.020
DZ Bank AG Deutsche Ze 18.50012/23/2022  EUR   25.670
DZ Bank AG Deutsche Ze 13.7009/23/2022   EUR   50.310
DZ Bank AG Deutsche Ze 12.10012/23/2022  EUR   53.160
DZ Bank AG Deutsche Ze 24.40012/23/2022  EUR   73.080
DZ Bank AG Deutsche Ze 20.9009/23/2022   EUR   47.570
DZ Bank AG Deutsche Ze 17.90012/23/2022  EUR   51.730
DZ Bank AG Deutsche Ze 20.40012/23/2022  EUR   49.350
DZ Bank AG Deutsche Ze 22.90012/23/2022  EUR   47.380
DZ Bank AG Deutsche Ze 16.50012/23/2022  EUR   67.880
Raiffeisen Centrobank  10.00002/12/2024  EUR   53.690
Credit Suisse AG/Londo 11.50012/23/2022  USD   51.130
Leonteq Securities AG/ 24.12012/30/2022  CHF   67.250
Landesbank Baden-Wuert  5.90012/22/2023  EUR   55.480
Landesbank Baden-Wuert  4.60012/22/2023  EUR   57.920
Landesbank Baden-Wuert  2.40012/22/2023  EUR   64.450
Landesbank Baden-Wuert  6.00012/22/2023  EUR   71.590
Landesbank Baden-Wuert  4.20012/22/2023  EUR   74.920
Landesbank Baden-Wuert  8.50012/22/2023  EUR   74.190
Landesbank Baden-Wuert  3.10012/22/2023  EUR   73.650
Landesbank Baden-Wuert  7.80012/22/2023  EUR   71.270
Landesbank Baden-Wuert  5.90012/22/2023  EUR   73.830
Landesbank Baden-Wuert  8.10012/22/2023  EUR   64.550
Landesbank Baden-Wuert  6.30012/22/2023  EUR   66.680
Landesbank Baden-Wuert  3.00012/22/2023  EUR   72.430
Landesbank Baden-Wuert  4.15012/22/2023  EUR   71.620
Landesbank Baden-Wuert  2.50012/22/2023  EUR   74.430
Landesbank Baden-Wuert  4.50012/22/2023  EUR   56.860
Landesbank Baden-Wuert  3.00012/22/2023  EUR   60.270
Societe Generale Effek 15.75012/23/2022  EUR   70.860
Vontobel Financial Pro  6.50012/23/2022  EUR   67.710
Vontobel Financial Pro  8.25012/23/2022  EUR   59.060
Vontobel Financial Pro 10.00012/23/2022  EUR   72.940
Vontobel Financial Pro 13.25012/23/2022  EUR   70.890
Vontobel Financial Pro  8.00012/23/2022  EUR   74.540
Vontobel Financial Pro 12.50012/23/2022  EUR   58.610
Vontobel Financial Pro 11.00012/23/2022  EUR   66.800
Vontobel Financial Pro 21.75012/23/2022  EUR   70.900
Vontobel Financial Pro 22.00012/23/2022  EUR   51.120
Vontobel Financial Pro 13.25012/23/2022  EUR   69.920
UBS AG/London           5.75012/29/2023  CHF   68.550
UBS AG/London           9.5006/29/2023   CHF   63.700
UBS AG/London           8.5006/29/2023   CHF   67.850
UBS AG/London          11.25012/29/2022  CHF   61.650
UBS AG/London           6.50012/29/2023  CHF   74.900
UBS AG/London           6.7506/29/2023   CHF   66.650
UBS AG/London           6.0006/29/2023   CHF   73.800
UBS AG/London          19.50012/29/2022  CHF   62.550
UBS AG/London          16.00012/29/2023  USD   65.800
UBS AG/London          16.00012/29/2022  CHF   50.400
UBS AG/London          15.75012/29/2022  USD   63.750
UniCredit Bank AG       3.45004/02/2024  EUR   64.440
SG Issuer SA            2.27002/04/2032  EUR   63.070
Sberbank of Russia PJS  0.01003/06/2028  RUB   71.400
Bank Vontobel AG       10.50609/02/2022  CHF   66.200
Bank Vontobel AG        8.25209/02/2022  EUR   60.100
Bank Vontobel AG        5.25409/02/2022  CHF   68.000
Bank Vontobel AG       14.00409/02/2022  CHF   41.200
Sberbank of Russia PJS  0.01003/04/2026  RUB   69.300
Leonteq Securities AG   8.00003/08/2023  CHF   69.700
Zurcher Kantonalbank F  7.00009/08/2022  CHF   59.580
Bank Vontobel AG        7.5058/24/2023   CHF   59.300
Bank Vontobel AG       15.0048/26/2022   CHF   24.400
Erste Group Bank AG     4.7503/31/2025   EUR   70.750
Bank Julius Baer & Co  17.50012/22/2022  USD   67.150
Leonteq Securities AG/ 20.40002/07/2023  CHF   35.670
Bank Julius Baer & Co  14.30002/08/2023  CHF   35.750
Zurcher Kantonalbank F 10.10002/02/2023  CHF   74.620
Leonteq Securities AG/ 24.0001/24/2023   USD   49.250
Vontobel Financial Pro 12.00012/23/2022  EUR   72.840
Vontobel Financial Pro  7.25012/23/2022  EUR   74.500
Credit Suisse AG/Londo  8.0001/17/2023   CHF   68.160
Zurcher Kantonalbank F 29.0001/17/2023   CHF   55.460
Zurcher Kantonalbank F 17.7001/17/2023   CHF   74.470
Landesbank Baden-Wuert 10.7501/27/2023   EUR   67.060
Bank Julius Baer & Co   5.70010/24/2022  EUR   53.650
Zurcher Kantonalbank F 12.50001/12/2023  USD   64.950
Leonteq Securities AG  24.0009/28/2022   CHF   18.790
DZ Bank AG Deutsche Ze  5.00012/23/2022  EUR   67.190
DZ Bank AG Deutsche Ze 18.0009/23/2022   EUR   70.200
DZ Bank AG Deutsche Ze 12.5009/23/2022   EUR   70.840
Basler Kantonalbank    10.0003/29/2023   CHF   63.670
Basler Kantonalbank    12.0009/29/2022   CHF   18.800
EFG International Fina 16.0009/29/2022   USD   74.690
EFG International Fina 18.0009/29/2022   CHF   63.890
EFG International Fina 12.0003/29/2023   USD   49.610
Raiffeisen Centrobank   6.5753/22/2023   EUR   72.310
Raiffeisen Centrobank  11.4063/22/2023   EUR   71.890
Raiffeisen Centrobank   9.3933/22/2023   EUR   66.890
Raiffeisen Centrobank  10.7353/22/2023   EUR   63.030
Landesbank Baden-Wuert  3.00010/24/2025  EUR   74.310
Nordea Bank Abp         0.62010/14/2026  SEK   54.020
Landesbank Baden-Wuert  4.9003/24/2023   EUR   70.250
Landesbank Baden-Wuert  3.4003/24/2023   EUR   74.110
Landesbank Baden-Wuert  4.5503/24/2023   EUR   70.600
Landesbank Baden-Wuert  5.8503/24/2023   EUR   67.510
Landesbank Baden-Wuert  8.9003/24/2023   EUR   70.680
Landesbank Baden-Wuert  4.2503/24/2023   EUR   73.560
Landesbank Baden-Wuert  3.6503/24/2023   EUR   56.260
Landesbank Baden-Wuert  3.0003/24/2023   EUR   71.960
Landesbank Baden-Wuert  4.1503/24/2023   EUR   69.010
Leonteq Securities AG/ 10.00001/04/2023  USD   73.610
Vontobel Financial Pro 18.5009/23/2022   EUR   68.500
Vontobel Financial Pro 16.7509/23/2022   EUR   57.110
Vontobel Financial Pro 13.2509/23/2022   EUR   74.740
Vontobel Financial Pro 16.7509/23/2022   EUR   64.190
Vontobel Financial Pro 15.0009/23/2022   EUR   66.630
Landesbank Baden-Wuert  3.3503/24/2023   EUR   70.740
Single Platform Invest  1.3757/25/2053   EUR   69.483
Societe Generale SA    17.40003/08/2023  USD   60.180
DZ Bank AG Deutsche Ze  4.8003/20/2023   EUR   70.880
DZ Bank AG Deutsche Ze  8.0003/20/2023   EUR   67.760
Raiffeisen Schweiz Gen 15.20003/07/2023  CHF   66.050
DZ Bank AG Deutsche Ze  9.2508/24/2022   EUR   67.840
DZ Bank AG Deutsche Ze 13.7508/24/2022   EUR   64.390
DZ Bank AG Deutsche Ze 14.2508/24/2022   EUR   65.060
Erste Group Bank AG     7.25003/03/2026  EUR   47.150
EFG International Fina  4.7501/29/2024   USD   56.410
Zurcher Kantonalbank F 10.00002/03/2023  CHF   40.750
Vontobel Financial Pro 14.7501/30/2023   EUR   55.710
Wirtschafts- und Infra  0.2081/28/2043   EUR   68.318
Societe Generale SA     2.3001/28/2036   USD   65.656
Centre Hospitalier Bea  0.95002/05/2041  EUR   64.733
Leonteq Securities AG/  9.00002/01/2023  CHF   54.030
Oberoesterreichische L  0.7051/29/2036   EUR   74.081
Region Wallonne Belgiu  0.25012/29/2036  EUR   74.918
UniCredit Bank AG       4.1501/29/2025   EUR   69.490
DZ Bank AG Deutsche Ze  0.20010/02/2034  EUR   74.775
Kuntarahoitus Oyj       0.8152/24/2061   EUR   73.190
DZ Bank AG Deutsche Ze  6.0003/20/2023   EUR   69.550
DZ Bank AG Deutsche Ze  5.5006/19/2023   EUR   67.850
Vontobel Financial Pro  6.0009/23/2022   EUR   44.640
SG Issuer SA            0.02107/07/2033  EUR   68.580
BNP Paribas SA          1.6602/26/2031   USD   73.784
SG Issuer SA            0.0218/15/2033   EUR   57.430
Landesbank Baden-Wuert  3.1008/26/2022   EUR   62.620
Landesbank Baden-Wuert  8.1008/26/2022   EUR   41.890
Landesbank Baden-Wuert  2.3008/22/2025   EUR   73.250
Landesbank Baden-Wuert  4.6508/26/2022   EUR   71.420
Landesbank Baden-Wuert  2.8008/26/2022   EUR   49.350
Landesbank Baden-Wuert  5.5508/26/2022   EUR   40.170
Landesbank Baden-Wuert  7.6508/26/2022   EUR   67.950
Landesbank Baden-Wuert  3.8008/26/2022   EUR   69.860
Landesbank Baden-Wuert  6.5508/26/2022   EUR   67.520
Landesbank Baden-Wuert  3.3008/26/2022   EUR   61.260
Landesbank Baden-Wuert  2.6508/26/2022   EUR   74.990
Landesbank Baden-Wuert  4.0508/26/2022   EUR   28.930
Vontobel Financial Pro  7.5009/23/2022   EUR   56.990
Vontobel Financial Pro 11.0009/23/2022   EUR   52.650
Vontobel Financial Pro  9.5009/23/2022   EUR   65.970
Vontobel Financial Pro 12.5009/23/2022   EUR   62.660
Vontobel Financial Pro  6.0009/23/2022   EUR   68.210
Vontobel Financial Pro  8.5009/23/2022   EUR   63.260
Vontobel Financial Pro 17.0009/23/2022   EUR   52.420
Vontobel Financial Pro  3.5009/23/2022   EUR   59.730
Vontobel Financial Pro 12.0009/23/2022   EUR   48.400
Vontobel Financial Pro  5.0009/23/2022   EUR   56.270
Vontobel Financial Pro 10.5009/23/2022   EUR   66.630
Vontobel Financial Pro  9.5009/23/2022   EUR   50.700
Vontobel Financial Pro 14.5009/23/2022   EUR   63.860
Vontobel Financial Pro 16.5009/23/2022   EUR   74.070
Vontobel Financial Pro 11.5009/23/2022   EUR   30.330
Vontobel Financial Pro  3.5009/23/2022   EUR   55.800
Vontobel Financial Pro 13.0009/23/2022   EUR   42.370
Vontobel Financial Pro  6.0009/23/2022   EUR   47.770
Raiffeisen Schweiz Gen  6.50001/12/2023  CHF   56.010
Vontobel Financial Pro  0.21202/03/2023  EUR   42.950
Landesbank Baden-Wuert  2.2008/25/2023   EUR   74.260
Landesbank Baden-Wuert  3.5009/23/2022   EUR   73.640
UBS AG/London           7.25002/03/2023  CHF   61.250
Region Hauts-de-France  0.3612/18/2041   EUR   71.097
UBS AG/London          11.25002/03/2023  CHF   62.100
UBS AG/London           8.00002/03/2023  CHF   48.900
Hypo Vorarlberg Bank A  1.0207/15/2041   EUR   72.401
Vontobel Financial Pro  9.5009/23/2022   EUR   73.140
Vontobel Financial Pro 12.0009/23/2022   EUR   66.100
Vontobel Financial Pro  9.0009/23/2022   EUR   66.290
Raiffeisen Switzerland 10.10002/08/2023  CHF   51.600
Vontobel Financial Pro 13.5009/23/2022   EUR   59.200
Vontobel Financial Pro 10.5009/23/2022   EUR   63.710
Vontobel Financial Pro 12.5009/23/2022   EUR   72.010
Vontobel Financial Pro 16.5009/23/2022   EUR   66.270
Vontobel Financial Pro 18.5009/23/2022   EUR   63.780
Vontobel Financial Pro  4.5009/23/2022   EUR   62.210
Vontobel Financial Pro 11.0009/23/2022   EUR   51.960
Vontobel Financial Pro  8.5009/23/2022   EUR   54.890
Vontobel Financial Pro 12.0009/23/2022   EUR   50.610
Vontobel Financial Pro  8.0009/23/2022   EUR   55.690
Zurcher Kantonalbank F  4.5007/14/2023   CHF   61.600
Norddeutsche Landesban  1.0008/13/2036   EUR   73.138
Corner Banca SA         8.00001/12/2023  CHF   67.530
Goldman Sachs & Co Wer  8.0008/24/2022   EUR   60.330
UniCredit Bank AG       4.40012/10/2022  EUR   73.020
DZ Bank AG Deutsche Ze  6.25012/21/2022  EUR   74.410
Landesbank Baden-Wuert  2.8502/27/2026   EUR   71.750
Leonteq Securities AG/  6.3007/17/2023   EUR   73.720
Societe Generale Effek  7.50012/23/2022  EUR   73.810
Societe Generale Effek 17.2508/26/2022   EUR   74.550
Societe Generale Effek 15.00010/28/2022  EUR   73.720
DZ Bank AG Deutsche Ze  6.3001/27/2023   EUR   71.030
DZ Bank AG Deutsche Ze 18.1003/24/2023   EUR   66.970
DZ Bank AG Deutsche Ze 24.2009/23/2022   EUR   55.290
DZ Bank AG Deutsche Ze 16.6009/23/2022   EUR   74.160
Societe Generale Effek 14.50010/28/2022  EUR   70.970
Societe Generale Effek 16.50010/28/2022  EUR   67.450
Societe Generale Effek 18.50010/28/2022  EUR   64.520
Societe Generale Effek 20.50010/28/2022  EUR   62.030
Societe Generale Effek 15.50011/25/2022  EUR   68.500
Societe Generale Effek 19.50011/25/2022  EUR   62.910
DZ Bank AG Deutsche Ze 10.8001/27/2023   EUR   65.940
DZ Bank AG Deutsche Ze 21.7009/23/2022   EUR   64.680
DZ Bank AG Deutsche Ze 18.50012/23/2022  EUR   67.510
DZ Bank AG Deutsche Ze 20.60012/23/2022  EUR   64.880
DZ Bank AG Deutsche Ze 21.3001/27/2023   EUR   63.730
DZ Bank AG Deutsche Ze  7.4001/27/2023   EUR   69.920
Bank Vontobel AG        8.2507/14/2023   EUR   67.600
Erste Group Bank AG     8.2502/15/2023   EUR   62.000
Erste Group Bank AG     6.7502/15/2023   EUR   61.250
Societe Generale Effek 16.2509/23/2022   EUR   69.790
Societe Generale Effek 14.75012/23/2022  EUR   70.120
Societe Generale Effek 15.7508/26/2022   EUR   71.250
Societe Generale Effek 19.7508/26/2022   EUR   64.630
Zurcher Kantonalbank F 25.0001/13/2023   CHF   74.080
Vontobel Financial Pro  8.0001/27/2023   CHF   73.960
Vontobel Financial Pro 10.0001/27/2023   USD   63.880
Credit Suisse AG/Londo  8.0004/14/2023   CHF   70.310
BNP Paribas Issuance B  4.6001/23/2024   EUR   49.650
Bank Julius Baer & Co   8.1004/20/2023   USD   67.200
Raiffeisen Centrobank   9.8073/22/2023   EUR   65.330
DZ Bank AG Deutsche Ze  5.00012/23/2022  EUR   74.430
Vontobel Financial Pro 13.50012/23/2022  EUR   74.330
Vontobel Financial Pro  6.00012/23/2022  EUR   66.130
Zurcher Kantonalbank F  7.2507/17/2023   CHF   72.030
Landesbank Baden-Wuert  5.3003/22/2024   EUR   74.310
Landesbank Baden-Wuert  7.2003/22/2024   EUR   71.840
Vontobel Financial Pro 11.0003/24/2023   EUR   70.050
Vontobel Financial Pro  8.7503/24/2023   EUR   72.360
UBS AG/London           7.6404/20/2026   SEK   74.370
Leonteq Securities AG  17.00003/07/2023  CHF   49.740
Leonteq Securities AG/ 12.00006/07/2023  CHF   70.280
Landesbank Baden-Wuert  3.0508/28/2026   EUR   71.780
Hypo Tirol Bank AG      1.3207/16/2041   EUR   72.774
Corner Banca SA        13.00010/19/2022  CHF   35.460
Leonteq Securities AG  10.0001/19/2023   CHF   70.360
Corner Banca SA        13.0001/19/2023   USD   48.090
Leonteq Securities AG  10.4001/19/2023   CHF   56.620
Leonteq Securities AG  10.0001/16/2023   CHF   50.640
Leonteq Securities AG/ 13.20010/19/2022  EUR   68.330
Bank Vontobel AG       10.5001/16/2023   CHF   42.300
Bank Vontobel AG       10.0001/16/2023   EUR   56.900
Leonteq Securities AG/ 10.0001/19/2023   USD   21.280
Leonteq Securities AG/ 10.00010/19/2022  CHF   48.500
Vontobel Financial Pro 10.0009/23/2022   EUR   48.440
Vontobel Financial Pro  7.0009/23/2022   EUR   53.400
Vontobel Financial Pro 11.5009/23/2022   EUR   48.660
Vontobel Financial Pro  5.0009/23/2022   EUR   54.650
Vontobel Financial Pro  6.0009/23/2022   EUR   52.490
Vontobel Financial Pro  8.5009/23/2022   EUR   48.750
Vontobel Financial Pro 11.0009/23/2022   EUR   45.580
Vontobel Financial Pro 13.5009/23/2022   EUR   42.860
Landesbank Hessen-Thue  0.7508/19/2036   EUR   70.909
UniCredit Bank AG       5.7502/26/2024   EUR   59.970
Vasutvillamosito Kft    3.00002/03/2031  HUF   65.000
Vontobel Financial Pro  5.5009/23/2022   EUR   44.960
Single Platform Invest  1.01312/20/2050  EUR   63.397
Single Platform Invest  0.78003/05/2039  EUR   72.267
Luzerner Kantonalbank   7.50008/09/2023  CHF   25.350
Leonteq Securities AG  13.20010/19/2022  CHF   23.020
Vontobel Financial Pro  6.2501/20/2023   EUR   59.470
Leonteq Securities AG/ 14.20010/19/2022  USD   23.080
DZ Bank AG Deutsche Ze  4.2509/21/2022   EUR   62.050
DZ Bank AG Deutsche Ze  9.5009/21/2022   EUR   58.160
DekaBank Deutsche Giro  4.0008/18/2022   EUR   47.460
DZ Bank AG Deutsche Ze 10.7508/24/2022   EUR   41.790
DZ Bank AG Deutsche Ze 12.5008/24/2022   EUR   39.990
Bank Julius Baer & Co  12.00010/20/2022  CHF   57.500
DZ Bank AG Deutsche Ze  7.7509/21/2022   EUR   62.380
Vontobel Financial Pro 13.5009/23/2022   EUR   57.640
Vontobel Financial Pro 10.5009/23/2022   EUR   61.510
Vontobel Financial Pro  7.0009/23/2022   EUR   70.280
Vontobel Financial Pro 10.0009/23/2022   EUR   66.090
Vontobel Financial Pro  7.5009/23/2022   EUR   66.040
Vontobel Financial Pro 10.5009/23/2022   EUR   21.090
Leonteq Securities AG/  6.6001/23/2023   USD   66.210
Zurcher Kantonalbank F  7.5001/23/2023   USD   70.730
Vontobel Financial Pro 11.7001/24/2023   USD   62.630
Bank Vontobel AG        9.00001/12/2023  EUR   57.900
Bank Vontobel AG       15.00010/13/2022  CHF   46.800
UniCredit Bank AG       9.5508/17/2022   EUR   41.280
UniCredit Bank AG       5.5508/17/2022   EUR   67.400
UniCredit Bank AG       9.3508/17/2022   EUR   73.010
UniCredit Bank AG       8.0508/17/2022   EUR   61.580
Raiffeisen Centrobank   6.96612/21/2022  EUR   73.440
Raiffeisen Centrobank  13.93112/21/2022  EUR   71.950
Raiffeisen Centrobank  15.32412/21/2022  EUR   69.540
Raiffeisen Centrobank   5.1706/21/2023   EUR   71.410
Raiffeisen Centrobank   7.7556/21/2023   EUR   70.810
Raiffeisen Centrobank  10.3406/21/2023   EUR   70.950
Raiffeisen Centrobank  12.9256/21/2023   EUR   71.740
Vontobel Financial Pro  5.5009/23/2022   EUR   59.460
Vontobel Financial Pro 11.5009/23/2022   EUR   60.900
Vontobel Financial Pro  7.0009/23/2022   EUR   67.680
Vontobel Financial Pro  8.0009/23/2022   EUR   51.930
Vontobel Financial Pro  9.0009/23/2022   EUR   64.060
Vontobel Financial Pro  6.0009/23/2022   EUR   54.730
Vontobel Financial Pro  6.0009/23/2022   EUR   46.370
EFG International Fina  9.0001/23/2023   CHF   67.250
EFG International Fina 11.0001/23/2023   CHF   23.910
Norddeutsche Landesban  0.8508/25/2036   EUR   71.392
Societe Generale SA     9.7607/25/2024   USD   57.110
Raiffeisen Schweiz Gen 10.0001/16/2023   CHF   52.360
Raiffeisen Schweiz Gen  8.5001/16/2023   CHF   58.980
Leonteq Securities AG  23.4009/28/2022   CHF   18.070
State of Saxony-Anhalt  0.4759/30/2050   EUR   68.327
DZ Bank AG Deutsche Ze  6.50012/23/2022  EUR   68.590
DZ Bank AG Deutsche Ze 15.10012/23/2022  EUR   61.420
DZ Bank AG Deutsche Ze  7.80012/23/2022  EUR   63.860
DZ Bank AG Deutsche Ze 15.50012/23/2022  EUR   73.600
DZ Bank AG Deutsche Ze 10.80012/23/2022  EUR   73.350
UniCredit Bank AG       8.30010/19/2022  EUR   46.680
UniCredit Bank AG       6.20010/19/2022  EUR   74.740
UniCredit Bank AG      11.70010/19/2022  EUR   63.450
Credit Agricole Corpor  5.2509/28/2022   USD   69.500
Raiffeisen Centrobank   7.5153/22/2023   EUR   68.950
Raiffeisen Centrobank  12.0773/22/2023   EUR   60.310
Landesbank Baden-Wuert  2.60010/24/2025  EUR   71.930
Single Platform Invest  0.93007/02/2041  EUR   71.180
Natixis SA              2.78010/05/2036  AUD   73.453
Greenergy Holding Vagy  3.0009/21/2031   HUF   65.142
VTB Bank PJSC           0.0109/16/2026   RUB   68.100
Raiffeisen Schweiz Gen 20.00010/04/2022  CHF   50.100
Raiffeisen Schweiz Gen 12.50010/04/2022  CHF   67.580
Raiffeisen Schweiz Gen 18.00010/04/2022  CHF   43.840
Societe Generale SA     5.40011/17/2037  USD   53.337
Natixis SA              3.00010/18/2051  USD   71.623
Raiffeisen Schweiz Gen  9.00010/04/2022  CHF   68.960
Landesbank Baden-Wuert  5.42010/28/2022  EUR   71.390
Societe Generale Effek  7.7509/23/2022   EUR   70.180
Societe Generale Effek  8.7509/23/2022   EUR   68.270
Societe Generale Effek  7.0008/26/2022   EUR   71.800
Societe Generale Effek  8.0008/26/2022   EUR   69.660
Landesbank Baden-Wuert  3.6503/24/2023   EUR   73.430
Landesbank Baden-Wuert  3.5003/24/2023   EUR   66.420
Landesbank Baden-Wuert  6.2003/24/2023   EUR   57.000
Landesbank Baden-Wuert  8.6503/24/2023   EUR   51.780
Landesbank Baden-Wuert  3.3503/24/2023   EUR   72.400
Landesbank Baden-Wuert  6.2503/24/2023   EUR   67.200
Landesbank Baden-Wuert  6.2003/24/2023   EUR   51.150
Landesbank Baden-Wuert  3.2003/24/2023   EUR   73.690
Landesbank Baden-Wuert  5.5003/24/2023   EUR   67.890
Landesbank Baden-Wuert  4.9003/24/2023   EUR   74.220
Leonteq Securities AG/ 12.0009/30/2022   CHF   61.750
Vontobel Financial Pro  9.0009/23/2022   EUR   66.900
Vontobel Financial Pro 16.5009/23/2022   EUR   59.790
Single Platform Invest  1.54810/31/2050  EUR   59.268
Single Platform Invest  1.2405/25/2052   EUR   66.741
Landesbank Baden-Wuert  2.0003/24/2023   EUR   74.340
Leonteq Securities AG  24.2409/30/2022   CHF   59.030
Credit Agricole Corpor 15.70010/07/2026  TRY   51.069
Leonteq Securities AG/ 19.33010/04/2022  CHF   21.130
Leonteq Securities AG/  7.00010/04/2023  CHF   68.000
Leonteq Securities AG/ 10.00004/04/2023  USD   55.340
Leonteq Securities AG/ 19.43010/04/2022  CHF   43.990
Leonteq Securities AG  10.00004/04/2023  CHF   70.380
Leonteq Securities AG  10.00001/04/2023  CHF   20.700
Leonteq Securities AG  15.00001/04/2023  CHF   40.780
Corner Banca SA         8.00004/04/2023  CHF   73.350
Corner Banca SA         7.00010/04/2023  CHF   73.970
Leonteq Securities AG/ 14.00010/04/2022  EUR   69.920
UniCredit Bank AG       3.65010/29/2024  EUR   68.350
Raiffeisen Schweiz Gen 12.00001/04/2023  CHF   22.170
Raiffeisen Schweiz Gen 12.50010/04/2022  CHF   48.830
Raiffeisen Schweiz Gen  8.25010/04/2023  CHF   72.740
Raiffeisen Schweiz Gen  9.50004/04/2023  CHF   64.660
Sberbank of Russia PJS  0.01010/05/2026  RUB   74.200
Leonteq Securities AG/ 30.0001/18/2023   CHF   53.730
UBS AG/London          27.50002/02/2023  USD   63.450
UBS AG/London          11.75008/02/2023  EUR   73.650
DZ Bank AG Deutsche Ze  6.2509/21/2022   EUR   73.070
DZ Bank AG Deutsche Ze  7.00012/21/2022  EUR   74.840
DZ Bank AG Deutsche Ze  8.25012/21/2022  EUR   73.900
DZ Bank AG Deutsche Ze  6.2509/21/2022   EUR   60.720
DZ Bank AG Deutsche Ze  8.75012/21/2022  EUR   62.990
DZ Bank AG Deutsche Ze  7.00012/21/2022  EUR   68.380
DZ Bank AG Deutsche Ze  6.5003/22/2023   EUR   65.320
DZ Bank AG Deutsche Ze  8.2503/22/2023   EUR   56.480
DZ Bank AG Deutsche Ze  5.25012/21/2022  EUR   60.350
Nordea Bank Abp         2.00002/03/2027  SEK   66.670
Raiffeisen Switzerland 10.0001/18/2023   CHF   49.810
Zurcher Kantonalbank F 10.00001/11/2023  CHF   55.790
Zurcher Kantonalbank F 17.0009/22/2022   CHF   70.060
DZ Bank AG Deutsche Ze 10.5003/22/2023   EUR   71.260
DZ Bank AG Deutsche Ze  5.2503/22/2023   EUR   61.520
DZ Bank AG Deutsche Ze  4.50012/21/2022  EUR   62.440
DZ Bank AG Deutsche Ze  4.2503/22/2023   EUR   66.310
TransFin-M PAO         10.5006/28/2027   RUB   60.000
Raiffeisen Switzerland 10.50007/11/2024  USD   14.510
DZ Bank AG Deutsche Ze  5.7003/20/2023   EUR   68.190
DZ Bank AG Deutsche Ze  5.2006/19/2023   EUR   66.500
Raiffeisen Switzerland 18.0001/17/2023   CHF   36.880
Basler Kantonalbank    18.0001/26/2023   CHF   39.730
UBS AG/London          10.75002/02/2024  EUR   72.000
UBS AG/London          28.75002/02/2023  USD   64.200
UBS AG/London          15.75002/02/2023  CHF   70.050
DZ Bank AG Deutsche Ze  4.2503/22/2023   EUR   71.050
DZ Bank AG Deutsche Ze  6.5003/22/2023   EUR   72.380
DZ Bank AG Deutsche Ze  8.2503/22/2023   EUR   70.260
DZ Bank AG Deutsche Ze 13.2509/21/2022   EUR   73.760
DZ Bank AG Deutsche Ze  5.2503/22/2023   EUR   68.450
UBS AG/London           6.50012/01/2023  CHF   69.300
BNP Paribas Emissions- 18.0009/22/2022   EUR   62.120
BNP Paribas Emissions- 14.00012/22/2022  EUR   65.130
BNP Paribas Emissions- 10.00012/22/2022  EUR   44.140
BNP Paribas Emissions- 10.00012/22/2022  EUR   72.510
BNP Paribas Emissions- 10.0009/22/2022   EUR   72.880
BNP Paribas Emissions- 14.00012/22/2022  EUR   66.390
BNP Paribas Emissions- 12.00012/22/2022  EUR   74.630
BNP Paribas Emissions-  8.00012/22/2022  EUR   72.100
BNP Paribas Emissions- 18.00012/22/2022  EUR   71.440
BNP Paribas Emissions- 10.0009/22/2022   EUR   74.380
Credit Agricole Corpor 17.5201/27/2027   TRY   60.863
Credit Suisse AG/Londo  8.50011/17/2022  EUR   61.210
Credit Suisse AG/Londo  7.0005/19/2023   CHF   68.300
Norddeutsche Landesban  1.2001/13/2037   EUR   74.645
Norddeutsche Landesban  1.0501/13/2037   EUR   72.928
Vontobel Financial Pro 18.75012/23/2022  EUR   63.760
Vontobel Financial Pro 18.00012/23/2022  EUR   47.860
Leonteq Securities AG/ 20.00012/02/2022  CHF   38.640
DZ Bank AG Deutsche Ze 10.00012/23/2022  EUR   51.840
DZ Bank AG Deutsche Ze  8.50012/19/2022  EUR   67.750
DZ Bank AG Deutsche Ze  6.25012/19/2022  EUR   62.020
DZ Bank AG Deutsche Ze  8.25012/19/2022  EUR   70.710
Vontobel Financial Pro  7.75012/23/2022  EUR   70.490
Landesbank Baden-Wuert  5.4001/27/2023   EUR   71.640
Landesbank Baden-Wuert  4.7501/27/2023   EUR   72.030
Landesbank Baden-Wuert  7.2001/27/2023   EUR   52.300
Landesbank Baden-Wuert 10.5001/27/2023   EUR   62.350
Landesbank Baden-Wuert 10.0001/27/2023   EUR   72.210
Landesbank Baden-Wuert  5.0001/27/2023   EUR   69.040
Vontobel Financial Pro 25.70012/27/2022  CHF   51.170
Corner Banca SA        15.0001/18/2023   CHF   72.590
Leonteq Securities AG/ 17.0001/18/2023   CHF   46.870
Societe Generale Effek 10.75010/28/2022  EUR   70.480
Societe Generale Effek 13.2508/26/2022   EUR   68.020
Societe Generale Effek 11.50010/28/2022  EUR   69.830
Societe Generale Effek 23.0008/26/2022   EUR   57.640
DZ Bank AG Deutsche Ze 16.60012/23/2022  EUR   74.390
DZ Bank AG Deutsche Ze 23.00012/23/2022  EUR   73.990
DZ Bank AG Deutsche Ze 21.4003/24/2023   EUR   74.860
DZ Bank AG Deutsche Ze 24.8003/24/2023   EUR   58.400
Bank Vontobel AG        7.5009/18/2023   USD   75.000
DZ Bank AG Deutsche Ze  5.90012/19/2022  EUR   72.400
DZ Bank AG Deutsche Ze  4.8003/20/2023   EUR   74.330
DZ Bank AG Deutsche Ze  8.10012/19/2022  EUR   74.330
DZ Bank AG Deutsche Ze  7.6003/20/2023   EUR   74.810
DZ Bank AG Deutsche Ze  4.70012/19/2022  EUR   74.990
DZ Bank AG Deutsche Ze  4.75012/19/2022  EUR   62.900
Vontobel Financial Pro 17.50012/23/2022  EUR   54.720
Landesbank Baden-Wuert  3.8001/27/2023   EUR   74.860
Landesbank Baden-Wuert 10.5001/27/2023   EUR   54.260
Landesbank Baden-Wuert  5.1001/27/2023   EUR   55.310
Landesbank Baden-Wuert  2.9001/27/2023   EUR   74.020
Landesbank Baden-Wuert  3.9001/27/2023   EUR   71.320
Landesbank Baden-Wuert  7.5001/27/2023   EUR   65.120
Zurcher Kantonalbank F  7.50001/10/2023  CHF   68.160
Zurcher Kantonalbank F  7.00001/10/2023  CHF   67.730
Leonteq Securities AG/ 14.0001/17/2023   EUR   63.850
EFG International Fina  9.0001/17/2023   EUR   70.130
Leonteq Securities AG  14.0001/17/2023   CHF   54.170
Corner Banca SA        17.0001/17/2023   EUR   50.590
Leonteq Securities AG/ 10.0004/18/2023   USD   59.700
Corner Banca SA        18.8003/28/2023   CHF   67.620
DZ Bank AG Deutsche Ze  6.5006/19/2023   EUR   73.790
DZ Bank AG Deutsche Ze  7.7003/20/2023   EUR   66.380
DZ Bank AG Deutsche Ze  6.8006/19/2023   EUR   65.010
Danske Bank A/S         6.50001/09/2027  SEK   72.390
Raiffeisen Switzerland 12.0001/17/2023   CHF   54.630
Raiffeisen Switzerland 17.4001/17/2023   EUR   53.200
Leonteq Securities AG/ 15.00011/02/2022  USD   73.500
Bank Julius Baer & Co   6.00011/03/2022  CHF   59.350
DZ Bank AG Deutsche Ze  7.2508/24/2022   EUR   56.040
DZ Bank AG Deutsche Ze 16.5009/23/2022   EUR   51.230
DZ Bank AG Deutsche Ze 12.9009/23/2022   EUR   50.470
Merrill Lynch BV        2.65008/04/2036  AUD   73.528
Bank Vontobel AG        7.00002/05/2024  CHF   59.600
Landesbank Baden-Wuert  3.1008/28/2026   EUR   73.170
Zurcher Kantonalbank F 10.5008/16/2022   USD   74.670
Leonteq Securities AG  10.00002/06/2023  CHF   44.710
Corner Banca SA        11.00011/09/2022  CHF   56.080
Leonteq Securities AG/ 13.00002/06/2023  USD   51.500
Vontobel Financial Pro  8.7509/23/2022   EUR   32.020
EFG International Fina  8.00008/09/2023  CHF   61.240
Landesbank Baden-Wuert  2.4008/26/2022   EUR   66.910
Landesbank Baden-Wuert  3.0008/26/2022   EUR   74.550
Landesbank Baden-Wuert  5.0008/26/2022   EUR   70.260
Vontobel Financial Pro  7.5009/23/2022   EUR   65.660
Vontobel Financial Pro 11.5009/23/2022   EUR   65.090
Vontobel Financial Pro 13.5009/23/2022   EUR   48.940
Vontobel Financial Pro 14.5009/23/2022   EUR   55.550
Vontobel Financial Pro  4.2508/22/2023   EUR   53.750
BrokerCreditService St 14.00009/09/2022  USD   45.000
UniCredit Bank AG       3.60009/02/2024  EUR   46.870
DZ Bank AG Deutsche Ze 12.2009/23/2022   EUR   50.020
DZ Bank AG Deutsche Ze  1.6206/25/2031   EUR   72.130
Vontobel Financial Pro 14.0009/23/2022   EUR   62.300
Vontobel Financial Pro 16.0009/23/2022   EUR   59.740
Vontobel Financial Pro 10.0009/23/2022   EUR   61.100
Natixis SA              2.53008/05/2036  AUD   70.959
Leonteq Securities AG/ 10.00002/06/2023  EUR   72.010
BrokerCreditService St  3.5004/30/2024   USD   53.000
Sberbank of Russia PJS  0.01008/03/2028  RUB   58.200
EFG International Fina  8.00002/06/2023  EUR   58.140
Vontobel Financial Pro 11.5009/23/2022   EUR   59.110
Vontobel Financial Pro  5.5009/23/2022   EUR   71.850
Vontobel Financial Pro  5.5009/23/2022   EUR   71.100
Vontobel Financial Pro  9.5009/23/2022   EUR   34.750
DZ Bank AG Deutsche Ze 13.7009/23/2022   EUR   51.990
Raiffeisen Switzerland  9.6108/26/2022   CHF   54.540
Vontobel Financial Pro 11.5009/23/2022   EUR   50.640
Vontobel Financial Pro 13.0009/23/2022   EUR   57.260
Vontobel Financial Pro  8.0009/23/2022   EUR   71.850
Vontobel Financial Pro 11.5009/23/2022   EUR   62.560
Vontobel Financial Pro 13.0009/23/2022   EUR   31.880
UBS AG/London          10.50006/01/2023  CHF   73.200
UBS AG/London           7.50006/01/2023  CHF   68.600
UBS AG/London           7.75006/01/2023  CHF   73.000
BNP Paribas Emissions- 10.00012/22/2022  EUR   71.000
BNP Paribas Emissions- 10.0009/22/2022   EUR   71.690
BNP Paribas Emissions- 15.0009/22/2022   EUR   66.590
BNP Paribas Emissions- 18.0009/22/2022   EUR   63.260
BNP Paribas Emissions- 14.0009/22/2022   EUR   68.650
BNP Paribas Emissions- 12.00012/22/2022  EUR   71.540
BNP Paribas Emissions- 18.0009/22/2022   EUR   63.400
BNP Paribas Emissions- 12.00012/22/2022  EUR   64.610
BNP Paribas Emissions- 14.0009/22/2022   EUR   71.800
BNP Paribas Emissions- 15.0009/22/2022   EUR   67.360
BNP Paribas Emissions- 10.00012/22/2022  EUR   74.830
BNP Paribas Emissions- 16.0009/22/2022   EUR   63.010
BNP Paribas Emissions-  8.00012/22/2022  EUR   69.850
BNP Paribas Emissions- 12.00012/22/2022  EUR   63.160
BNP Paribas Emissions-  8.0009/22/2022   EUR   70.090
BNP Paribas Emissions- 12.0009/22/2022   EUR   60.600
BNP Paribas Emissions- 10.00012/22/2022  EUR   62.470
BNP Paribas Emissions- 12.00012/22/2022  EUR   72.200
Credit Suisse AG/Londo  9.00011/28/2022  USD   51.640
Sberbank of Russia PJS  0.01011/30/2028  RUB   57.600
DZ Bank AG Deutsche Ze  4.00012/23/2022  EUR   56.680
Vontobel Financial Pro  8.00012/23/2022  EUR   68.760
Vontobel Financial Pro 13.25012/23/2022  EUR   73.960
Vontobel Financial Pro 12.50012/23/2022  EUR   67.850
Vontobel Financial Pro  9.00012/23/2022  EUR   70.120
Vontobel Financial Pro 13.00012/23/2022  EUR   66.270
Vontobel Financial Pro 18.75012/23/2022  EUR   60.620
Leonteq Securities AG/ 16.40012/02/2022  CHF   25.510
Single Platform Invest  1.0506/25/2044   EUR   69.624
Sberbank of Russia PJS  0.01012/04/2024  RUB   75.000
UniCredit Bank AG      13.50012/12/2022  USD   65.060
Corner Banca SA        12.60012/06/2022  CHF   42.230
Leonteq Securities AG/ 19.00012/06/2022  CHF   46.610
Leonteq Securities AG/ 15.80012/06/2022  USD   49.100
Leonteq Securities AG/  8.00012/06/2022  CHF   57.570
Leonteq Securities AG/  6.10012/06/2023  CHF   69.070
Leonteq Securities AG/ 10.40012/06/2022  CHF   63.310
Sberbank of Russia PJS  0.01011/27/2026  RUB   66.500
Corner Banca SA        13.60012/06/2022  EUR   64.320
EFG International Fina  6.20012/06/2022  CHF   73.480
Leonteq Securities AG  14.80012/06/2022  CHF   47.490
Leonteq Securities AG/ 12.00012/06/2022  CHF   49.580
Bank Vontobel AG        8.0005/26/2023   CHF   63.400
Bank Vontobel AG        8.50006/05/2023  CHF   62.800
Bank Vontobel AG        9.00006/05/2023  CHF   69.100
Bank Vontobel AG        7.00006/05/2023  CHF   61.600
Bank Vontobel AG       12.50006/06/2023  CHF   72.600
UBS AG/London          10.20011/30/2022  USD    8.249
DZ Bank AG Deutsche Ze 15.20012/23/2022  EUR   70.660
Bank Julius Baer & Co   9.45012/01/2022  EUR   57.350
Landesbank Baden-Wuert  4.00001/02/2026  EUR   70.380
EFG International Fina  8.00006/01/2023  CHF   72.350
Leonteq Securities AG/ 20.60012/02/2022  CHF   49.130
UBS AG/London           9.00006/01/2023  CHF   70.050
UBS AG/London           5.25012/01/2023  EUR   72.750
UBS AG/London           9.50012/01/2022  CHF   67.450
UBS AG/London          10.25012/01/2022  CHF   60.650
UBS AG/London           7.25012/01/2023  CHF   68.100
BNP Paribas Emissions- 16.0009/22/2022   EUR   73.830
BNP Paribas Emissions- 16.0009/22/2022   EUR   61.930
BNP Paribas Emissions- 10.00012/22/2022  EUR   74.170
BNP Paribas Emissions- 16.0009/22/2022   EUR   68.840
BNP Paribas Emissions- 16.00012/22/2022  EUR   67.080
BNP Paribas Emissions- 12.00012/22/2022  EUR   65.700
BNP Paribas Emissions-  6.00012/22/2022  EUR   71.410
BNP Paribas Emissions-  8.00012/22/2022  EUR   67.940
Credit Suisse AG/Londo 12.50011/21/2022  CHF   59.370
Credit Suisse AG/Londo  9.00011/21/2022  USD   37.320
Credit Suisse AG/Londo  8.00011/22/2022  CHF   59.410
Credit Suisse AG/Londo  7.2505/24/2023   CHF   67.200
Leonteq Securities AG/ 11.21006/06/2023  CHF   28.180
Leonteq Securities AG/ 11.00012/06/2022  EUR   72.820
Leonteq Securities AG   9.20012/06/2022  CHF   65.520
Leonteq Securities AG  17.10012/06/2022  CHF   23.360
Bank Vontobel AG        8.25011/27/2023  EUR   58.600
Bank Vontobel AG        9.25012/04/2023  EUR   63.000
Bank Vontobel AG        9.00006/05/2023  CHF   62.100
Bank Vontobel AG       11.50006/05/2023  CHF   26.100
Bank Vontobel AG       15.00012/05/2022  CHF   52.400
Landesbank Baden-Wuert  2.70010/28/2022  EUR   49.010
Leonteq Securities AG/ 18.0009/13/2022   USD   36.430
Leonteq Securities AG/ 10.00012/13/2022  CHF   69.140
Societe Generale Effek  5.2508/26/2022   EUR   65.620
Societe Generale Effek 15.2508/26/2022   EUR   38.980
Societe Generale Effek  9.0008/26/2022   EUR   67.790
Raiffeisen Schweiz Gen 16.2009/14/2022   CHF   44.600
Raiffeisen Schweiz Gen  9.00003/10/2023  USD   54.280
Raiffeisen Switzerland 10.00003/10/2023  EUR   37.660
Raiffeisen Schweiz Gen  7.2509/13/2023   CHF   61.630
Raiffeisen Schweiz Gen  7.0009/13/2023   CHF   71.180
UniCredit Bank AG      12.3009/29/2022   EUR   69.370
Erste Group Bank AG     4.00010/01/2025  EUR   69.100
DZ Bank AG Deutsche Ze 15.7509/21/2022   EUR   53.980
DZ Bank AG Deutsche Ze  5.2509/21/2022   EUR   71.580
UniCredit Bank AG       3.20009/10/2022  EUR   50.980
Leonteq Securities AG/ 10.0001/30/2023   USD   37.120
SG Issuer SA            5.7007/20/2024   SEK   67.910
Leonteq Securities AG  10.0001/30/2023   CHF   63.350
DZ Bank AG Deutsche Ze  5.5008/24/2022   EUR   64.060
DZ Bank AG Deutsche Ze  5.7509/21/2022   EUR   71.630
DZ Bank AG Deutsche Ze  8.0008/24/2022   EUR   55.220
Landesbank Baden-Wuert  3.0008/26/2022   EUR   55.090
DZ Bank AG Deutsche Ze  5.0008/24/2022   EUR   55.890
DZ Bank AG Deutsche Ze 12.5008/24/2022   EUR   58.630
Landesbank Baden-Wuert  2.4008/22/2025   EUR   72.430
Corner Banca SA        14.00011/02/2022  CHF   21.330
Leonteq Securities AG/ 10.0001/30/2023   EUR   71.390
DZ Bank AG Deutsche Ze  5.0008/24/2022   EUR   74.710
Bank Julius Baer & Co   9.50011/03/2022  CHF   55.800
DZ Bank AG Deutsche Ze  4.7009/19/2022   EUR   71.720
DZ Bank AG Deutsche Ze  5.5009/19/2022   EUR   70.470
DZ Bank AG Deutsche Ze  5.3009/19/2022   EUR   69.830
DZ Bank AG Deutsche Ze  6.0009/19/2022   EUR   68.680
DZ Bank AG Deutsche Ze  5.40012/19/2022  EUR   70.060
DZ Bank AG Deutsche Ze  4.80012/19/2022  EUR   71.060
DZ Bank AG Deutsche Ze  4.8009/19/2022   EUR   67.130
DZ Bank AG Deutsche Ze  5.9009/19/2022   EUR   65.000
DZ Bank AG Deutsche Ze  4.70012/19/2022  EUR   68.340
DZ Bank AG Deutsche Ze  7.0009/19/2022   EUR   63.120
DZ Bank AG Deutsche Ze  5.60012/19/2022  EUR   66.440
DZ Bank AG Deutsche Ze  6.50012/19/2022  EUR   64.770
DZ Bank AG Deutsche Ze  3.90012/23/2022  EUR   70.300
DZ Bank AG Deutsche Ze  5.8009/23/2022   EUR   67.250
DZ Bank AG Deutsche Ze  5.50012/23/2022  EUR   68.600
DZ Bank AG Deutsche Ze  6.50012/23/2022  EUR   67.990
DZ Bank AG Deutsche Ze  8.20012/23/2022  EUR   64.490
Societe Generale SA    15.00010/03/2022  USD   24.280
UniCredit Bank AG       7.50010/19/2022  EUR   71.880
Credit Suisse AG/Londo 13.50011/28/2022  CHF   26.880
Bank Vontobel AG        9.0002/21/2023   CHF   70.600
Bank Vontobel AG       12.25011/28/2022  CHF   60.200
Bank Julius Baer & Co   8.80012/07/2022  CHF   62.800
Bank Julius Baer & Co   5.50012/07/2022  CHF   73.650
DZ Bank AG Deutsche Ze  6.0009/21/2022   EUR   62.820
DZ Bank AG Deutsche Ze  6.25012/21/2022  EUR   74.950
DZ Bank AG Deutsche Ze  8.2509/21/2022   EUR   66.730
DZ Bank AG Deutsche Ze  8.25012/21/2022  EUR   68.650
Raiffeisen Schweiz Gen  7.20006/06/2023  CHF   73.110
Raiffeisen Schweiz Gen  8.20012/06/2023  CHF   67.000
Raiffeisen Switzerland 15.00012/06/2022  USD   64.380
Banque Internationale  17.00012/07/2022  CHF   56.950
Landesbank Baden-Wuert  2.50001/02/2026  EUR   72.620
Vontobel Financial Pro  6.00012/23/2022  EUR   73.810
Leonteq Securities AG/ 22.20012/07/2022  CHF   42.100
Sberbank of Russia PJS  0.01011/27/2026  RUB   64.200
DZ Bank AG Deutsche Ze 16.70012/23/2022  EUR   50.270
DZ Bank AG Deutsche Ze 17.10012/23/2022  EUR   67.050
DZ Bank AG Deutsche Ze 23.90012/23/2022  EUR   72.990
DZ Bank AG Deutsche Ze 19.50012/23/2022  EUR   65.990
DZ Bank AG Deutsche Ze 16.8009/23/2022   EUR   73.790
DZ Bank AG Deutsche Ze 12.1009/23/2022   EUR   66.080
DZ Bank AG Deutsche Ze 10.50012/23/2022  EUR   68.430
DZ Bank AG Deutsche Ze 19.10012/23/2022  EUR   73.880
DZ Bank AG Deutsche Ze 20.5009/23/2022   EUR   61.630
DZ Bank AG Deutsche Ze 17.30012/23/2022  EUR   65.520
DZ Bank AG Deutsche Ze  5.40012/23/2022  EUR   69.340
DZ Bank AG Deutsche Ze 19.4009/23/2022   EUR   63.230
Ebis OOO               14.50011/25/2025  RUB   38.320
SG Issuer SA            2.10012/27/2033  EUR   52.170
Landesbank Baden-Wuert  4.5006/23/2023   EUR   72.770
Vontobel Financial Pro 20.0009/23/2022   EUR   49.720
Vontobel Financial Pro 13.00012/23/2022  EUR   52.060
Vontobel Financial Pro 13.5009/23/2022   EUR   49.050
Vontobel Financial Pro 21.00012/23/2022  EUR   62.470
Vontobel Financial Pro  8.00012/23/2022  EUR   65.350
Vontobel Financial Pro 18.50012/23/2022  EUR   58.690
Vontobel Financial Pro 17.5009/23/2022   EUR   53.590
Vontobel Financial Pro  4.0009/23/2022   EUR   54.860
Vontobel Financial Pro  5.00012/23/2022  EUR   56.120
Vontobel Financial Pro 12.5009/23/2022   EUR   72.740
Vontobel Financial Pro  6.50012/23/2022  EUR   57.290
UBS AG/London           9.50012/08/2023  USD   71.600
UBS AG/London          18.50006/08/2023  USD   58.550
UBS AG/London           7.75012/08/2023  CHF   70.750
UBS AG/London          11.25012/08/2022  CHF   68.050
Vontobel Financial Pro 15.50012/23/2022  EUR   60.010
Vontobel Financial Pro  9.0009/23/2022   EUR   66.400
Vontobel Financial Pro  9.50012/23/2022  EUR   55.390
Vontobel Financial Pro  4.00012/23/2022  EUR   66.170
Vontobel Financial Pro 25.0009/23/2022   EUR   44.070
Vontobel Financial Pro  5.00012/23/2022  EUR   55.990
Vontobel Financial Pro  6.50012/23/2022  EUR   56.510
Vontobel Financial Pro  6.00012/23/2022  EUR   56.340
Vontobel Financial Pro  8.00012/23/2022  EUR   57.040
Vontobel Financial Pro  9.00012/23/2022  EUR   57.390
Vontobel Financial Pro 10.5009/23/2022   EUR   55.380
Vontobel Financial Pro 20.5009/23/2022   EUR   56.760
Vontobel Financial Pro  5.50012/23/2022  EUR   65.220
Vontobel Financial Pro  6.00012/23/2022  EUR   65.400
Vontobel Financial Pro 20.00012/23/2022  EUR   62.120
Vontobel Financial Pro 17.5009/23/2022   EUR   58.360
Vontobel Financial Pro  9.50012/23/2022  EUR   59.800
Vontobel Financial Pro  7.00012/23/2022  EUR   67.840
Vontobel Financial Pro 11.5009/23/2022   EUR   66.150
EFG International Fina 18.00012/08/2022  CHF   60.150
EFG International Fina 17.00012/08/2022  USD   66.040
Region Occitanie        0.78612/14/2046  EUR   70.362
Leonteq Securities AG/ 26.1208/31/2022   CHF   55.250
DZ Bank AG Deutsche Ze 12.10012/23/2022  EUR   70.750
DZ Bank AG Deutsche Ze 13.60012/23/2022  EUR   67.460
DZ Bank AG Deutsche Ze  6.8008/26/2022   EUR   56.470
DZ Bank AG Deutsche Ze 11.40012/23/2022  EUR   70.800
DZ Bank AG Deutsche Ze  7.70012/23/2022  EUR   74.850
DZ Bank AG Deutsche Ze 11.80012/23/2022  EUR   67.330
DZ Bank AG Deutsche Ze 14.4009/23/2022   EUR   74.440
DZ Bank AG Deutsche Ze  4.60012/23/2022  EUR   74.190
DZ Bank AG Deutsche Ze  9.90012/23/2022  EUR   64.810
DZ Bank AG Deutsche Ze 11.00012/23/2022  EUR   52.710
DZ Bank AG Deutsche Ze  9.0008/26/2022   EUR   54.840
DZ Bank AG Deutsche Ze  6.30012/23/2022  EUR   60.190
DZ Bank AG Deutsche Ze  7.80012/23/2022  EUR   57.480
DZ Bank AG Deutsche Ze 11.40012/23/2022  EUR   53.240
DZ Bank AG Deutsche Ze  8.5008/26/2022   EUR   72.450
DZ Bank AG Deutsche Ze 13.3009/23/2022   EUR   68.160
DZ Bank AG Deutsche Ze 15.80012/23/2022  EUR   57.300
DZ Bank AG Deutsche Ze 11.6008/26/2022   EUR   74.310
DZ Bank AG Deutsche Ze 17.0008/26/2022   EUR   53.000
DZ Bank AG Deutsche Ze  8.2008/26/2022   EUR   66.590
DZ Bank AG Deutsche Ze 11.7009/23/2022   EUR   62.450
DZ Bank AG Deutsche Ze  6.90012/23/2022  EUR   67.210
DZ Bank AG Deutsche Ze 12.20012/23/2022  EUR   58.410
DZ Bank AG Deutsche Ze  3.90012/23/2022  EUR   74.490
DZ Bank AG Deutsche Ze  8.30012/23/2022  EUR   65.780
DZ Bank AG Deutsche Ze 14.10012/23/2022  EUR   61.360
DZ Bank AG Deutsche Ze  5.00012/23/2022  EUR   61.310
DZ Bank AG Deutsche Ze  9.0008/26/2022   EUR   57.570
DZ Bank AG Deutsche Ze 11.7008/26/2022   EUR   54.030
DZ Bank AG Deutsche Ze 10.00012/23/2022  EUR   57.360
DZ Bank AG Deutsche Ze 12.20012/23/2022  EUR   54.950
DZ Bank AG Deutsche Ze  6.20012/23/2022  EUR   58.590
Vontobel Financial Pro 10.0009/23/2022   EUR   60.220
EFG International Fina 21.00009/02/2022  USD   27.510
EFG International Fina  7.00009/01/2023  CHF   74.460
Basler Kantonalbank    11.00003/06/2023  CHF   50.100
Zurcher Kantonalbank F  8.25009/08/2022  CHF   74.190
Zurcher Kantonalbank F  7.00009/08/2022  CHF   74.770
Zurcher Kantonalbank F 26.00009/09/2022  USD   28.810
Bank Julius Baer & Co   7.05009/02/2022  EUR   66.900
Bank Julius Baer & Co   7.95009/02/2022  USD   44.900
Bank Julius Baer & Co   6.30009/02/2022  EUR   67.900
Zurcher Kantonalbank F 18.50009/09/2022  CHF   47.470
Zurcher Kantonalbank F 19.0009/13/2022   USD   50.880
Zurcher Kantonalbank F 18.0009/13/2022   CHF   50.710
Vontobel Financial Pro  4.0009/23/2022   EUR   65.650
Vontobel Financial Pro  3.5009/23/2022   EUR   68.160
Vontobel Financial Pro  6.0009/23/2022   EUR   61.280
Vontobel Financial Pro 12.5009/23/2022   EUR   52.870
Vontobel Financial Pro  6.5009/23/2022   EUR   60.280
Vontobel Financial Pro 15.5009/23/2022   EUR   50.270
Vontobel Financial Pro 10.0009/23/2022   EUR   55.900
Vontobel Financial Pro 17.5009/23/2022   EUR   54.680
Vontobel Financial Pro 11.0009/23/2022   EUR   71.940
Vontobel Financial Pro  7.0009/23/2022   EUR   72.310
Vontobel Financial Pro  8.5009/23/2022   EUR   69.210
Vontobel Financial Pro  9.0009/23/2022   EUR   73.090
Vontobel Financial Pro 11.0009/23/2022   EUR   70.610
Vontobel Financial Pro 13.0009/23/2022   EUR   68.330
Vontobel Financial Pro 16.5009/23/2022   EUR   69.900
Vontobel Financial Pro 15.0009/23/2022   EUR   71.880
Vontobel Financial Pro 13.0009/23/2022   EUR   73.940
Vontobel Financial Pro 13.5009/23/2022   EUR   72.110
Vontobel Financial Pro 14.5009/23/2022   EUR   70.570
Vontobel Financial Pro 17.0009/23/2022   EUR   67.760
Vontobel Financial Pro 12.0009/23/2022   EUR   73.690
Vontobel Financial Pro 15.5009/23/2022   EUR   69.100
Vontobel Financial Pro 18.0009/23/2022   EUR   66.420
Vontobel Financial Pro  7.5009/23/2022   EUR   33.710
Vontobel Financial Pro 10.5009/23/2022   EUR   31.140
Vontobel Financial Pro  7.0009/23/2022   EUR   59.320
Vontobel Financial Pro 14.0009/23/2022   EUR   49.300
Zurcher Kantonalbank F 20.5009/13/2022   CHF   47.680
Vontobel Financial Pro  7.2509/23/2022   EUR   69.540
Vontobel Financial Pro 13.7509/23/2022   EUR   62.650
Leonteq Securities AG/ 24.44009/02/2022  CHF   30.410
Leonteq Securities AG/  7.30012/02/2022  AUD   62.520
Sberbank of Russia PJS  0.01009/04/2026  RUB   70.900
DZ Bank AG Deutsche Ze  7.00012/21/2022  EUR   71.600
Banque Internationale  15.00001/05/2023  EUR   50.790
Leonteq Securities AG/ 24.60010/05/2022  CHF   52.140
Leonteq Securities AG/ 22.80010/05/2022  CHF   34.440
Erste Group Bank AG     4.50011/02/2025  EUR   67.250
Erste Group Bank AG     7.50011/02/2022  EUR   40.200
Vontobel Financial Pro  7.30010/06/2022  EUR   55.480
Sberbank of Russia PJS  0.01010/05/2028  RUB   57.500
DZ Bank AG Deutsche Ze 14.9009/23/2022   EUR   59.380
DZ Bank AG Deutsche Ze 17.9009/23/2022   EUR   55.790
DZ Bank AG Deutsche Ze 21.5009/23/2022   EUR   26.140
DZ Bank AG Deutsche Ze 13.3009/23/2022   EUR   70.360
DZ Bank AG Deutsche Ze 10.8009/23/2022   EUR   73.390
DZ Bank AG Deutsche Ze 11.4009/23/2022   EUR   73.950
DZ Bank AG Deutsche Ze 21.3009/23/2022   EUR   71.970
DZ Bank AG Deutsche Ze 11.7009/23/2022   EUR   43.740
DZ Bank AG Deutsche Ze 14.1009/23/2022   EUR   41.300
Vontobel Financial Pro 15.2509/23/2022   EUR   60.380
AutoWallis Nyrt         3.0007/27/2031   HUF   56.400
Deutsche Bank AG        0.70010/07/2031  EUR   73.442
Vontobel Financial Pro 18.2509/23/2022   EUR   74.670
Vontobel Financial Pro 20.2509/23/2022   EUR   65.080
Societe Generale Effek  7.0008/26/2022   EUR   67.880
Societe Generale Effek 11.25010/28/2022  EUR   53.870
Societe Generale Effek 13.25010/28/2022  EUR   50.160
Societe Generale Effek 15.25010/28/2022  EUR   47.250
Goldman Sachs & Co Wer 10.0008/24/2022   EUR   74.970
Goldman Sachs & Co Wer 18.00012/21/2022  EUR   67.430
Goldman Sachs & Co Wer 15.0003/22/2023   EUR   70.130
Goldman Sachs & Co Wer 14.0009/21/2022   EUR   70.990
Goldman Sachs & Co Wer 22.0009/21/2022   EUR   63.340
Goldman Sachs & Co Wer 13.0006/21/2023   EUR   64.260
Goldman Sachs & Co Wer  8.0009/20/2023   EUR   72.550
Goldman Sachs & Co Wer 12.0009/20/2023   EUR   66.230
Goldman Sachs & Co Wer 24.0008/24/2022   EUR   73.130
Bank Julius Baer & Co   9.25010/07/2022  USD   41.800
Bank Julius Baer & Co  11.00010/07/2022  EUR   58.550
Sberbank of Russia PJS  0.01012/27/2024  RUB   74.500
Credit Suisse AG/Londo  9.25012/27/2022  CHF   23.020
Credit Suisse AG/Londo 10.50012/27/2022  CHF   23.530
Leonteq Securities AG  19.00001/03/2023  CHF   56.850
VTB Bank PJSC           0.01012/20/2024  RUB   65.910
Leonteq Securities AG/ 11.0003/30/2023   CHF   48.250
Leonteq Securities AG/ 14.00001/03/2023  CHF   74.030
Leonteq Securities AG/  8.0006/30/2023   CHF   71.410
Leonteq Securities AG/  9.0006/30/2023   CHF   70.050
VTB Bank PJSC           0.01012/20/2024  RUB   70.060
DZ Bank AG Deutsche Ze  6.90012/19/2022  EUR   74.950
DZ Bank AG Deutsche Ze  5.10012/19/2022  EUR   67.890
DZ Bank AG Deutsche Ze  6.10012/19/2022  EUR   66.710
DZ Bank AG Deutsche Ze  4.8003/20/2023   EUR   68.840
DZ Bank AG Deutsche Ze  5.6003/20/2023   EUR   67.830
Leonteq Securities AG/ 24.12012/28/2022  CHF   26.030
Corner Banca SA        18.00001/03/2023  USD   64.370
Leonteq Securities AG  15.00001/03/2023  CHF   70.610
Leonteq Securities AG   8.0006/30/2023   CHF   69.990
Leonteq Securities AG  12.0003/30/2023   CHF   32.920
VTB Bank PJSC           0.01011/22/2024  RUB   68.860
DZ Bank AG Deutsche Ze  6.25012/19/2022  EUR   74.350
DZ Bank AG Deutsche Ze  8.2503/20/2023   EUR   67.990
DZ Bank AG Deutsche Ze  8.25012/19/2022  EUR   65.670
DZ Bank AG Deutsche Ze  4.75012/19/2022  EUR   64.000
DZ Bank AG Deutsche Ze  6.2503/20/2023   EUR   62.850
DZ Bank AG Deutsche Ze  5.0003/20/2023   EUR   71.100
Raiffeisen Switzerland 20.00012/30/2022  CHF   69.410
Raiffeisen Switzerland  6.50001/03/2024  CHF   70.620
Raiffeisen Switzerland 12.00012/30/2022  CHF   45.970
VTB Bank PJSC           0.01011/25/2026  RUB   50.000
VTB Bank PJSC           0.01012/06/2024  RUB   65.510
VTB Bank PJSC           0.01012/13/2024  RUB   65.550
Societe Generale Effek 11.0009/23/2022   EUR   67.020
Bank Vontobel AG        9.2506/30/2023   EUR   74.400
Vontobel Financial Pro  6.00012/23/2022  EUR   62.690
Vontobel Financial Pro 10.00012/23/2022  EUR   57.020
Vontobel Financial Pro  5.50012/23/2022  EUR   50.250
Vontobel Financial Pro  9.00012/23/2022  EUR   46.470
Vontobel Financial Pro  5.00012/23/2022  EUR   52.010
Vontobel Financial Pro 12.00012/23/2022  EUR   44.080
Vontobel Financial Pro 12.50012/23/2022  EUR   43.630
Vontobel Financial Pro 11.00012/23/2022  EUR   44.370
Vontobel Financial Pro  7.50012/23/2022  EUR   47.500
Vontobel Financial Pro  8.00012/23/2022  EUR   46.890
Vontobel Financial Pro  9.50012/23/2022  EUR   45.910
Vontobel Financial Pro 10.00012/23/2022  EUR   45.380
Vontobel Financial Pro 14.00012/23/2022  EUR   42.960
Vontobel Financial Pro 10.50012/23/2022  EUR   44.860
Vontobel Financial Pro 16.50012/23/2022  EUR   41.660
Vontobel Financial Pro 15.50012/23/2022  EUR   42.360
Vontobel Financial Pro 18.00012/23/2022  EUR   41.180
Vontobel Financial Pro  9.00012/23/2022  EUR   58.290
Vontobel Financial Pro  7.50012/23/2022  EUR   59.480
Vontobel Financial Pro 11.00012/23/2022  EUR   55.850
Vontobel Financial Pro 12.00012/23/2022  EUR   54.760
Vontobel Financial Pro 17.00012/23/2022  EUR   51.460
Vontobel Financial Pro 13.50012/23/2022  EUR   53.930
Vontobel Financial Pro 14.50012/23/2022  EUR   52.980
Vontobel Financial Pro  7.00012/23/2022  EUR   48.140
Vontobel Financial Pro  6.50012/23/2022  EUR   48.810
Vontobel Financial Pro 11.50012/23/2022  EUR   69.470
Vontobel Financial Pro 10.00012/23/2022  EUR   68.940
Vontobel Financial Pro  7.50012/23/2022  EUR   66.080
Vontobel Financial Pro  8.00012/23/2022  EUR   58.070
Vontobel Financial Pro  4.00012/23/2022  EUR   49.050
Vontobel Financial Pro  5.50012/23/2022  EUR   49.830
Vontobel Financial Pro  8.00012/23/2022  EUR   69.080
Vontobel Financial Pro 15.00012/23/2022  EUR   70.460
Vontobel Financial Pro  7.50012/23/2022  EUR   68.160
Bank Julius Baer & Co   4.60004/04/2023  CHF   71.100
Bank Julius Baer & Co   8.40004/04/2023  CHF   72.950
Bank Julius Baer & Co   9.20004/04/2023  CHF   74.900
Bank Vontobel AG       26.00001/03/2023  CHF   58.100
Bank Vontobel AG       15.0006/30/2023   CHF   37.300
Bank Vontobel AG       20.00001/03/2023  CHF   66.600
Bank Vontobel AG        7.0003/30/2023   CHF   66.400
Credit Suisse AG/Londo 16.00012/29/2022  CHF   63.390
Credit Suisse AG/Londo  9.00012/29/2022  CHF   65.580
Zurcher Kantonalbank F  8.30012/29/2022  CHF   69.770
Zurcher Kantonalbank F 11.00012/29/2022  CHF   65.970
Zurcher Kantonalbank F 10.00012/29/2022  EUR   70.690
Zurcher Kantonalbank F 11.00012/29/2022  CHF   36.170
VTB Bank PJSC           0.01012/13/2024  RUB   66.640
Vontobel Financial Pro 13.00012/23/2022  EUR   72.330
Vontobel Financial Pro 15.00012/23/2022  EUR   70.420
Vontobel Financial Pro  7.00012/23/2022  EUR   75.000
Vontobel Financial Pro 14.00012/23/2022  EUR   68.280
Vontobel Financial Pro  8.50012/23/2022  EUR   73.510
Vontobel Financial Pro  9.50012/23/2022  EUR   71.940
Vontobel Financial Pro 15.50012/23/2022  EUR   67.230
Vontobel Financial Pro 17.00012/23/2022  EUR   66.250
Vontobel Financial Pro 12.50012/23/2022  EUR   69.420
Vontobel Financial Pro 12.00012/23/2022  EUR   71.370
Vontobel Financial Pro 16.50012/23/2022  EUR   67.080
Vontobel Financial Pro 20.00012/23/2022  EUR   64.500
Vontobel Financial Pro 11.00012/23/2022  EUR   70.640
Vontobel Financial Pro 18.00012/23/2022  EUR   66.290
Vontobel Financial Pro 10.00012/23/2022  EUR   73.940
Vontobel Financial Pro 13.50012/23/2022  EUR   70.340
Vontobel Financial Pro 15.50012/23/2022  EUR   68.110
Vontobel Financial Pro 14.50012/23/2022  EUR   69.190
Vontobel Financial Pro 19.00012/23/2022  EUR   65.370
Vontobel Financial Pro 19.00012/23/2022  EUR   67.090
Vontobel Financial Pro 11.00012/23/2022  EUR   74.410
Vontobel Financial Pro 18.50012/23/2022  EUR   65.340
Vontobel Financial Pro 17.00012/23/2022  EUR   68.670
Vontobel Financial Pro  9.50012/23/2022  EUR   50.840
Vontobel Financial Pro  7.00012/23/2022  EUR   57.030
Vontobel Financial Pro 14.00012/23/2022  EUR   59.490
Vontobel Financial Pro 15.00012/23/2022  EUR   59.840
Vontobel Financial Pro 14.50012/23/2022  EUR   52.590
Vontobel Financial Pro 11.00012/23/2022  EUR   61.390
Vontobel Financial Pro  5.00012/23/2022  EUR   59.290
Vontobel Financial Pro  8.00012/23/2022  EUR   60.340
DZ Bank AG Deutsche Ze 14.00012/23/2022  EUR   60.410
DZ Bank AG Deutsche Ze 15.6009/22/2022   EUR   74.310
DZ Bank AG Deutsche Ze 13.50012/23/2022  EUR   20.400
DZ Bank AG Deutsche Ze 18.90012/23/2022  EUR   67.540
DZ Bank AG Deutsche Ze 22.20012/23/2022  EUR   62.820
SG Issuer SA            2.00012/22/2036  EUR   72.960
Sberbank of Russia PJS  0.01011/20/2025  RUB   72.000
Deutsche Pfandbriefban  0.50011/18/2030  EUR   73.792
SG Issuer SA            7.7401/20/2024   SEK   63.370
Single Platform Invest  0.4282/15/2040   EUR   66.167
Societe Wallonne de Fi  0.88311/21/2044  EUR   73.142
DekaBank Deutsche Giro  3.20012/16/2022  EUR   73.980
EFG International Fina  7.5005/19/2023   CHF   57.290
DekaBank Deutsche Giro  2.80010/20/2023  EUR   39.430
Landesbank Baden-Wuert  3.4008/23/2024   EUR   28.360
EFG International Fina  4.67011/23/2022  EUR   43.600
Leonteq Securities AG/  8.00011/23/2022  CHF   62.600
DekaBank Deutsche Giro  2.35012/16/2022  EUR   62.870
DekaBank Deutsche Giro  3.4009/23/2022   EUR   71.770
DekaBank Deutsche Giro  2.4009/23/2022   EUR   72.930
Metropole de Lyon       0.46212/07/2045  EUR   65.764
DekaBank Deutsche Giro  2.20012/29/2023  EUR   74.220
Landesbank Baden-Wuert  4.10011/25/2022  EUR   70.010
Landesbank Baden-Wuert  5.00011/25/2022  EUR   62.800
Landesbank Baden-Wuert  2.20011/25/2022  EUR   56.150
Leonteq Securities AG/ 14.00002/03/2023  CHF   33.970
Vontobel Financial Pro 16.75012/23/2022  EUR   69.440
Vontobel Financial Pro 14.00012/23/2022  EUR   48.340
Vontobel Financial Pro  5.25012/23/2022  EUR   66.470
Vontobel Financial Pro 13.0002/13/2023   EUR   68.890
Credit Suisse AG/Londo 13.7501/31/2023   CHF   40.290
EFG International Fina  7.8801/31/2023   USD   74.890
Norddeutsche Landesban  1.4204/28/2039   EUR   74.192
Raiffeisen Schweiz Gen  6.00009/02/2022  CHF   74.290
Bank Otkritie Financia  0.0102/26/2023   RUB   69.000
Nordea Bank Abp         5.0001/20/2025   SEK   71.000
Danske Bank A/S         5.00001/09/2025  SEK   65.610
Leonteq Securities AG/  7.60003/09/2023  EUR   55.960
UniCredit Bank AG       4.40004/12/2023  EUR   64.130
Norddeutsche Landesban  1.15002/11/2037  EUR   73.932
Goldman Sachs Internat  0.1001/13/2025   EUR   52.150
Goldman Sachs Internat  0.0701/13/2025   EUR   65.650
Bank Vontobel AG        8.0006/30/2023   CHF   74.200
Bank Vontobel AG       10.5006/30/2023   CHF   33.200
Bank Vontobel AG        6.25001/05/2024  CHF   65.900
Bank Vontobel AG        8.2506/30/2023   CHF   53.200
Ukraine Government Bon 12.9402/14/2024   UAH   55.148
Vontobel Financial Pro  4.9007/13/2023   EUR   74.970
Sberbank of Russia PJS  0.01002/01/2029  RUB   61.700
Raiffeisen Centrobank  10.1929/21/2022   EUR   51.310
Raiffeisen Centrobank   8.9189/21/2022   EUR   52.530
UBS AG/London           9.75009/05/2022  CHF   55.600
UBS AG/London          16.25009/05/2022  CHF   37.000
UBS AG/London          10.00003/03/2023  CHF   59.500
UBS AG/London          15.00009/05/2022  CHF   55.550
Bank Julius Baer & Co  10.0009/26/2022   CHF   63.300
Leonteq Securities AG/ 22.80012/06/2022  CHF   48.380
Goldman Sachs Internat  2.20002/01/2036  USD   73.287
Raiffeisen Centrobank   7.6449/21/2022   EUR   54.400
Single Platform Invest  0.94010/04/2041  EUR   69.777
Vontobel Financial Pro  5.0003/26/2024   EUR   66.060
UBS AG/London          11.25003/03/2023  CHF   59.950
EFG International Fina  6.40003/08/2023  USD   70.900
UniCredit Bank AG       5.30004/08/2025  EUR   74.940
Credit Agricole Corpor 11.6403/24/2027   TRY   44.299
Bank Vontobel AG        8.0082/27/2023   CHF   55.900
Bank Vontobel AG       15.0048/26/2022   CHF   24.400
Erste Group Bank AG     4.0003/31/2025   EUR   71.550
Societe Generale Effek  8.5008/26/2022   EUR   74.810
Societe Generale Effek 10.5008/26/2022   EUR   70.680
Leonteq Securities AG/  8.0001/30/2023   EUR   74.320
Leonteq Securities AG/  9.4001/30/2023   EUR   74.510
Leonteq Securities AG/  6.6001/30/2023   CHF   70.740
Leonteq Securities AG/ 10.00011/02/2022  CHF   34.690
Leonteq Securities AG/  5.0001/30/2023   USD   48.720
UniCredit Bank AG      12.0008/18/2022   EUR   46.410
Bank Vontobel AG        6.5001/30/2023   CHF   71.900
Bank Vontobel AG        7.5501/30/2023   CHF   60.900
Bank Vontobel AG        7.5501/30/2023   CHF   60.900
Bank Vontobel AG        7.0001/30/2023   CHF   73.600
Landesbank Baden-Wuert  3.0003/28/2025   EUR   72.860
Societe Generale SA     2.7003/25/2036   USD   69.023
Bank Vontobel AG        5.00909/11/2023  CHF   73.700
UBS AG/London           9.75003/10/2023  CHF   61.950
UBS AG/London           9.25003/10/2023  CHF   46.250
UBS AG/London          10.75009/12/2022  CHF   41.800
UBS AG/London          16.50009/12/2022  CHF   41.200
UBS AG/London           6.25009/12/2022  EUR   61.350
Raiffeisen Switzerland  8.50009/08/2022  CHF   44.060
Landesbank Hessen-Thue  2.0004/16/2036   EUR   73.100
Goldman Sachs & Co Wer 12.0003/22/2023   EUR   55.900
Goldman Sachs & Co Wer 10.0009/21/2022   EUR   64.280
Goldman Sachs & Co Wer  5.00012/21/2022  EUR   70.850
Goldman Sachs & Co Wer  6.00012/21/2022  EUR   67.340
Goldman Sachs & Co Wer  7.00012/21/2022  EUR   64.220
Goldman Sachs & Co Wer 10.00012/21/2022  EUR   59.310
Goldman Sachs & Co Wer 13.00012/21/2022  EUR   53.280
Goldman Sachs & Co Wer  5.0003/22/2023   EUR   71.900
Goldman Sachs & Co Wer  6.0003/22/2023   EUR   68.730
Goldman Sachs & Co Wer  7.0003/22/2023   EUR   65.900
Goldman Sachs & Co Wer  8.0003/22/2023   EUR   63.390
Goldman Sachs & Co Wer 10.0003/22/2023   EUR   59.210
Goldman Sachs & Co Wer 10.0009/21/2022   EUR   64.280
Goldman Sachs & Co Wer  7.00012/21/2022  EUR   65.600
Goldman Sachs & Co Wer  9.00012/21/2022  EUR   66.320
Goldman Sachs & Co Wer  5.0009/21/2022   EUR   74.160
Goldman Sachs & Co Wer  6.0009/21/2022   EUR   69.860
Goldman Sachs & Co Wer  7.0009/21/2022   EUR   66.040
Goldman Sachs & Co Wer  8.0009/21/2022   EUR   62.640
Goldman Sachs & Co Wer  9.0009/21/2022   EUR   59.600
Goldman Sachs & Co Wer 15.0009/21/2022   EUR   50.270
DekaBank Deutsche Giro  3.35004/08/2024  EUR   67.480
DekaBank Deutsche Giro  3.25004/06/2023  EUR   72.790
DekaBank Deutsche Giro  2.25004/08/2024  EUR   67.820
Landesbank Baden-Wuert  0.7603/31/2036   EUR   71.910
Leonteq Securities AG/  8.0003/15/2023   CHF   48.310
Norddeutsche Landesban  0.90004/08/2036  EUR   72.296
Norddeutsche Landesban  0.80004/08/2036  EUR   71.199
Bank Vontobel AG        8.00509/12/2022  SEK   65.900
Leonteq Securities AG/ 21.60012/06/2022  CHF   22.640
Leonteq Securities AG/  8.80012/07/2023  CHF   73.620
Credit Suisse AG/Londo  8.60011/29/2022  USD   71.580
Bank Vontobel AG        9.5002/20/2023   EUR   69.900
Luzerner Kantonalbank   9.5005/30/2023   CHF   67.660
DZ Bank AG Deutsche Ze  4.25012/21/2022  EUR   70.290
DZ Bank AG Deutsche Ze  5.75012/21/2022  EUR   67.750
DZ Bank AG Deutsche Ze  6.2509/21/2022   EUR   72.040
DZ Bank AG Deutsche Ze  8.2509/21/2022   EUR   73.960
Raiffeisen Switzerland 19.00012/06/2022  CHF   54.080
Leonteq Securities AG/ 20.40012/07/2022  CHF   66.710
Landesbank Baden-Wuert  0.71005/12/2036  EUR   71.316
Landesbank Baden-Wuert  0.7804/21/2036   EUR   72.113
Societe Generale SA     3.1004/22/2036   AUD   68.661
Landesbank Baden-Wuert  0.61005/11/2034  EUR   74.128
UniCredit Bank AG       1.5507/18/2031   EUR   74.960
Raiffeisen Switzerland  8.20010/19/2022  CHF   56.240
Sberbank of Russia PJS  0.0104/23/2026   RUB   74.800
Zurcher Kantonalbank F  8.50010/26/2022  USD   60.370
Leonteq Securities AG/ 10.00010/26/2022  USD   28.910
Leonteq Securities AG/  7.0004/26/2023   CHF   63.530
Raiffeisen Centrobank   5.7505/19/2023   EUR   64.350
Zurcher Kantonalbank F  9.00010/27/2022  EUR   66.450
Region de Bruxelles-Ca  0.60912/03/2049  EUR   62.539
Leonteq Securities AG/ 24.60010/07/2022  CHF   20.160
Societe Generale Effek  9.50010/28/2022  EUR   60.560
Societe Generale Effek 11.5008/26/2022   EUR   68.750
Vontobel Financial Pro 11.5009/23/2022   EUR   66.640
Morgan Stanley & Co In  3.10010/28/2041  AUD   74.539
DZ Bank AG Deutsche Ze 24.3009/23/2022   EUR   59.120
DZ Bank AG Deutsche Ze 18.00012/23/2022  EUR   66.220
Credit Agricole Corpor 10.8003/24/2026   TRY   43.416
Societe Generale Effek 10.2509/23/2022   EUR   56.230
Goldman Sachs & Co Wer 14.0008/24/2022   EUR   69.900
Goldman Sachs & Co Wer 19.0008/24/2022   EUR   65.520
Goldman Sachs & Co Wer 23.0008/24/2022   EUR   61.640
Goldman Sachs & Co Wer 15.00012/21/2022  EUR   70.330
Goldman Sachs & Co Wer 18.0009/21/2022   EUR   66.890
Goldman Sachs & Co Wer 14.00010/26/2022  EUR   70.010
Goldman Sachs & Co Wer 20.00010/26/2022  EUR   65.070
Goldman Sachs & Co Wer  7.0006/21/2023   EUR   72.400
Goldman Sachs & Co Wer  8.0006/21/2023   EUR   70.860
Goldman Sachs & Co Wer 10.0006/21/2023   EUR   69.220
Goldman Sachs & Co Wer  7.0009/20/2023   EUR   73.780
Goldman Sachs & Co Wer 10.0009/20/2023   EUR   68.490
Goldman Sachs & Co Wer 22.0009/21/2022   EUR   74.770
Bank Julius Baer & Co   9.30001/09/2023  USD   43.550
Basler Kantonalbank     7.00010/11/2023  CHF   64.910
Leonteq Securities AG/ 10.00010/07/2022  CHF   60.810
Leonteq Securities AG/ 26.40010/07/2022  CHF   33.080
Societe Generale Effek 12.5009/23/2022   EUR   53.310
Societe Generale Effek 14.5009/23/2022   EUR   49.870
DZ Bank AG Deutsche Ze  1.85012/29/2031  EUR   72.080
Vontobel Financial Pro  7.2509/23/2022   EUR   67.940
Vontobel Financial Pro  9.5009/23/2022   EUR   56.600
Vontobel Financial Pro  7.2509/23/2022   EUR   59.860
Vontobel Financial Pro  6.2509/23/2022   EUR   73.660
Vontobel Financial Pro 13.2509/23/2022   EUR   61.240
UniCredit Bank AG       7.20011/10/2022  EUR   74.530
Leonteq Securities AG/ 20.40010/28/2022  CHF   66.830
UniCredit Bank AG       7.25012/09/2022  EUR   72.100
Region de Bruxelles-Ca  0.9006/28/2046   EUR   71.460
MKB-Leasing OOO        23.00010/12/2026  RUB   70.020
Landesbank Baden-Wuert  3.50012/23/2022  EUR   69.160
Zurcher Kantonalbank F  7.00010/07/2022  CHF   68.590
UBS AG/London          13.0003/29/2023   USD   48.900
UBS AG/London           7.7509/29/2023   CHF   66.150
UBS AG/London          10.75010/20/2022  EUR   40.350
UBS AG/London          10.75010/20/2022  CHF   65.900
UBS AG/London           8.75010/20/2023  CHF   62.800
UBS AG/London          10.5001/23/2023   CHF   21.840
Credit Suisse AG/Londo 10.00011/30/2022  CHF   19.620
Credit Suisse AG/Londo  7.25012/01/2022  CHF   72.050
Credit Suisse AG/Londo 10.0009/26/2022   EUR   66.050
Leonteq Securities AG  18.0009/28/2022   CHF   49.140
Corner Banca SA        14.0009/28/2022   CHF   48.390
UBS AG/London           7.75003/01/2023  CHF   71.200
UBS AG/London           9.25003/01/2023  CHF   67.350
UBS AG/London          19.50009/01/2022  USD   53.300
Leonteq Securities AG/  6.4006/28/2023   CHF   52.800
Credit Suisse AG/Londo  7.00012/08/2022  CHF   72.560
Credit Suisse AG/Londo 10.50009/12/2022  CHF   15.620
Credit Suisse AG/Londo 10.00009/12/2022  EUR   59.710
Credit Suisse AG/Londo 15.0009/15/2022   USD   40.370
Bank Vontobel AG        6.7509/19/2022   CHF   73.700
Bank Vontobel AG       20.00012/19/2022  CHF   45.300
Bank Vontobel AG        6.0009/25/2023   CHF   67.700
UBS AG/London           8.2506/30/2023   CHF   62.850
Bank Vontobel AG       10.5004/18/2023   EUR   57.000
Bank Vontobel AG       12.00010/17/2022  EUR   53.800
Bank Vontobel AG       13.00010/17/2022  CHF   30.800
Bank Vontobel AG        8.2508/29/2022   CHF   45.500
Bank Vontobel AG        7.5002/28/2023   CHF   41.400
Bank Vontobel AG        6.0008/28/2023   CHF   66.500
Credit Suisse AG/Londo 11.00012/20/2022  CHF   18.140
Bank Vontobel AG        8.00003/10/2023  EUR   65.700
Bank Vontobel AG        7.00012/12/2022  CHF   61.200
Bank Vontobel AG        7.25012/19/2022  CHF   58.200
UBS AG/London           7.7502/13/2023   CHF   74.300
Credit Suisse AG/Londo  9.00010/03/2022  EUR   68.680
Credit Suisse AG/Londo 12.0008/17/2022   CHF   54.030
Credit Suisse AG/Londo  9.2008/22/2022   CHF   58.750
Credit Suisse AG/Londo 11.5008/23/2022   CHF   16.040
Credit Suisse AG/Londo  8.00011/24/2022  EUR   74.720
UBS AG/London          10.2503/29/2023   CHF   65.400
Zurcher Kantonalbank F  8.00012/27/2022  CHF   65.340
Zurcher Kantonalbank F 10.50010/04/2022  CHF   69.700
Zurcher Kantonalbank F 21.00010/04/2022  CHF   44.800
Zurcher Kantonalbank F 16.75004/04/2023  USD   67.720
UBS AG/London           8.00010/11/2022  CHF   73.900
UBS AG/London          14.25010/20/2022  CHF   54.450
UBS AG/London          10.0002/20/2023   EUR   26.540
Luzerner Kantonalbank  12.4008/30/2022   USD   69.130
UBS AG/London          11.0001/16/2023   CHF   57.800
UBS AG/London          10.0001/16/2023   CHF   73.300
UBS AG/London           5.00001/09/2023  USD   64.100
UBS AG/London           6.00007/07/2023  EUR   57.900
Zurcher Kantonalbank F 11.0009/20/2022   CHF   74.490
Zurcher Kantonalbank F 19.5009/15/2022   USD   48.740
Zurcher Kantonalbank F  9.7509/23/2022   CHF   59.640
Zurcher Kantonalbank F  5.0009/23/2022   CHF   67.580
Zurcher Kantonalbank F 15.2009/21/2022   USD   27.010
UBS AG/London          13.7509/22/2022   CHF   47.750
UBS AG/London           9.2503/22/2023   CHF   64.850
UBS AG/London          14.7503/22/2023   USD   23.180
UBS AG/London           8.7509/22/2023   CHF   74.800
Bank Vontobel AG       10.50010/10/2022  CHF   74.600
UBS AG/London           8.50002/06/2023  USD   69.000
UBS AG/London          11.75008/04/2023  USD   52.100
Credit Suisse AG/Londo 15.00010/14/2022  USD   28.590
Credit Suisse AG/Londo 11.00010/11/2022  USD   68.400
Credit Suisse AG/Londo 11.10010/13/2022  CHF   56.990
Credit Suisse AG/Londo  7.25010/14/2022  EUR   62.200
Bank Vontobel AG        6.0009/25/2023   CHF   65.400
Bank Vontobel AG        7.0009/25/2023   CHF   74.200
Bank Vontobel AG        8.0003/24/2023   CHF   63.600
Bank Vontobel AG       20.00012/27/2022  CHF   58.200
Bank Vontobel AG        4.50012/27/2022  CHF   68.400
DZ Bank AG Deutsche Ze  8.5009/21/2022   EUR   56.150
DZ Bank AG Deutsche Ze  6.7509/21/2022   EUR   59.860
Bank Vontobel AG        8.0003/24/2023   EUR   67.900
DZ Bank AG Deutsche Ze 11.0009/21/2022   EUR   60.280
DZ Bank AG Deutsche Ze  8.5009/21/2022   EUR   73.290
UBS AG/London          20.25003/01/2023  CHF   48.450
UBS AG/London          11.50003/01/2023  USD   57.050
UBS AG/London          11.25003/01/2023  CHF   20.980
UBS AG/London           9.75003/01/2023  CHF   20.160
UBS AG/London           7.00009/01/2023  CHF   59.900
UBS AG/London           5.00009/08/2023  CHF   64.700
DZ Bank AG Deutsche Ze  6.2509/21/2022   EUR   66.650
Credit Suisse AG/Londo  8.00012/27/2022  CHF   67.210
Credit Suisse AG/Londo 10.00012/28/2022  USD   35.180
Credit Suisse AG/Londo 11.5009/29/2022   CHF   16.470
Credit Suisse AG/Londo 13.7009/25/2023   USD   25.180
DZ Bank AG Deutsche Ze  6.0009/21/2022   EUR   57.160
Credit Suisse AG/Londo  7.50010/04/2022  CHF   58.360
Credit Suisse AG/Londo 11.00010/03/2022  CHF   59.220
Credit Suisse AG/Londo 10.00010/05/2022  USD   38.890
Bank Vontobel AG       10.00001/10/2023  CHF   51.500
Bank Vontobel AG       14.25010/10/2022  CHF   49.200
Bank Vontobel AG       10.50004/12/2023  CHF   45.100
UBS AG/London           6.75009/08/2023  CHF   67.600
DZ Bank AG Deutsche Ze  5.0009/21/2022   EUR   65.400
UBS AG/London           7.25009/08/2023  CHF   66.000
UBS AG/London          15.75003/09/2023  USD   45.400
UBS AG/London           8.50003/08/2023  CHF   59.900
Vontobel Financial Pro  4.1507/18/2023   EUR   55.990
Vontobel Financial Pro  4.0007/18/2023   EUR   57.670
UBS AG/London           8.2503/22/2023   CHF   69.050
Zurcher Kantonalbank F 10.2509/27/2022   CHF   67.170
Erste Group Bank AG     5.50008/02/2025  EUR   64.900
UBS AG/London           9.2502/13/2023   CHF   22.420
UBS AG/London           9.5002/13/2023   CHF   68.200
UBS AG/London           9.2502/13/2023   USD   30.550
UBS AG/London           8.0008/18/2023   USD   59.950
Vontobel Financial Pro 14.50012/23/2022  EUR   65.750
UBS AG/London           8.00003/08/2023  CHF   71.900
UBS AG/London          15.00009/09/2022  USD   43.550
UBS AG/London           6.25003/08/2023  CHF   68.800
Bank Vontobel AG       17.00009/05/2022  CHF   45.900
Bank Vontobel AG       19.50009/05/2022  CHF   20.400
Bank Vontobel AG        9.50012/12/2022  CHF   58.400
Bank Vontobel AG        5.75009/11/2023  CHF   65.800
Zurcher Kantonalbank F 10.0009/15/2022   CHF   64.040
Zurcher Kantonalbank F 12.0009/20/2022   CHF   52.710
Zurcher Kantonalbank F  8.0003/16/2023   CHF   63.970
Zurcher Kantonalbank F 25.0009/20/2022   CHF   41.140
Credit Suisse AG/Londo  8.00010/14/2022  EUR   55.010
Credit Suisse AG/Londo  7.00010/17/2022  CHF   71.950
Leonteq Securities AG/  7.0306/28/2023   CHF   59.630
UBS AG/London          12.2504/13/2023   CHF   22.800
Zurcher Kantonalbank F 13.00010/13/2022  CHF   51.630
Zurcher Kantonalbank F  8.00010/18/2022  CHF   24.410
UBS AG/London          10.7503/15/2023   CHF   31.350
UBS AG/London           7.0003/15/2023   CHF   65.400
UBS AG/London          15.2509/15/2023   USD   29.920
UBS AG/London          18.2503/15/2023   CHF   25.500
UBS AG/London           7.2509/22/2023   CHF   63.650
UBS AG/London           8.0003/22/2023   CHF   70.550
UBS AG/London           8.5009/22/2022   CHF   14.700
Zurcher Kantonalbank F 20.00010/12/2022  USD   40.590
UBS AG/London           8.7501/16/2023   CHF   44.650
UBS AG/London          10.2501/17/2023   USD   47.700
UBS AG/London           9.7501/16/2023   EUR   74.150
Bank Vontobel AG        7.00010/02/2023  CHF   58.300
Zurcher Kantonalbank F  6.5001/13/2023   CHF   69.970
Bank Vontobel AG       13.5003/31/2023   CHF   55.400
Bank Vontobel AG        6.5006/26/2023   CHF   51.600
Bank Vontobel AG       14.7501/16/2023   CHF   22.400
Bank Vontobel AG        5.7501/23/2023   CHF   66.300
Bank Vontobel AG       10.0001/23/2023   EUR   60.800
Bank Vontobel AG       15.00010/24/2022  CHF   53.900
Zurcher Kantonalbank F  7.00007/12/2023  CHF   68.040
Leonteq Securities AG/ 12.00005/02/2023  USD   29.330
Bank Vontobel AG        6.5002/27/2023   CHF   71.500
Bank Vontobel AG        9.0002/28/2023   CHF   66.600
Bank Vontobel AG       18.0002/28/2023   CHF   52.100
Bank Vontobel AG        8.00011/28/2022  CHF   48.500
Societe Generale SA    17.8406/28/2024   USD   62.900
UBS AG/London           6.2507/28/2023   CHF   71.250
UBS AG/London           5.5007/28/2023   CHF   63.250
UBS AG/London           8.5001/30/2023   CHF   21.720
Zurcher Kantonalbank F  9.50010/20/2022  CHF   57.340
Zurcher Kantonalbank F  7.60010/14/2022  CHF   64.780
Zurcher Kantonalbank F  7.50010/21/2022  CHF   73.850
Zurcher Kantonalbank F  9.30010/14/2022  CHF   73.420
Zurcher Kantonalbank F 21.75010/21/2022  CHF   51.140
Landesbank Baden-Wuert  4.1506/23/2023   EUR   43.480
Landesbank Baden-Wuert  6.6506/23/2023   EUR   73.200
Landesbank Baden-Wuert  5.1506/23/2023   EUR   65.910
Landesbank Baden-Wuert  3.0006/23/2023   EUR   72.560
Credit Suisse AG/Londo 11.2508/15/2022   EUR   49.690
Credit Suisse AG/Londo  7.00011/14/2022  USD   74.260
Credit Suisse AG/Londo  7.00011/16/2022  CHF   57.130
Landesbank Baden-Wuert  3.8006/23/2023   EUR   48.520
Landesbank Baden-Wuert  3.3506/23/2023   EUR   51.350
Landesbank Baden-Wuert  7.3006/23/2023   EUR   57.850
Landesbank Baden-Wuert  3.5006/23/2023   EUR   70.430
UBS AG/London          13.25004/06/2023  USD   68.250
Landesbank Baden-Wuert  4.6506/23/2023   EUR   70.990
UBS AG/London          12.25010/13/2022  CHF   51.550
UBS AG/London           8.50010/13/2022  EUR   73.400
Landesbank Baden-Wuert  4.1006/23/2023   EUR   70.990
UBS AG/London          15.0004/14/2023   USD   70.750
UBS AG/London          13.2504/14/2023   USD   47.550
Landesbank Baden-Wuert  2.5006/23/2023   EUR   74.440
Landesbank Baden-Wuert  7.2506/23/2023   EUR   55.980
Landesbank Baden-Wuert  2.7006/23/2023   EUR   67.000
Landesbank Baden-Wuert  3.5006/23/2023   EUR   69.650
UBS AG/London           9.75004/06/2023  USD   32.200
UBS AG/London           8.00010/06/2023  CHF   70.900
UBS AG/London           9.75004/06/2023  CHF   62.600
Landesbank Baden-Wuert  4.1006/23/2023   EUR   61.920
Landesbank Baden-Wuert  3.5006/23/2023   EUR   63.620
Landesbank Baden-Wuert  2.0006/23/2023   EUR   68.770
Landesbank Baden-Wuert  3.0006/23/2023   EUR   61.170
UBS AG/London           8.2502/27/2023   CHF   68.100
UBS AG/London           8.7502/27/2023   USD   54.150
Credit Suisse AG/Londo  8.00010/28/2022  CHF   49.810
Credit Suisse AG/Londo  7.00011/04/2022  CHF   68.800
Credit Suisse AG/Londo 10.25011/04/2022  EUR   73.550
UBS AG/London           8.75010/13/2023  CHF   66.350
Zurcher Kantonalbank F  9.10010/14/2022  CHF   71.130
Zurcher Kantonalbank F  7.00010/25/2022  CHF   73.080
Zurcher Kantonalbank F 14.50010/24/2022  USD   17.720
Bank Vontobel AG        6.75010/23/2023  EUR   72.800
UBS AG/London          12.00002/06/2023  USD   51.200
UBS AG/London          10.25002/06/2023  CHF   65.450
Bank Vontobel AG       18.0008/29/2022   USD   49.000
Bank Vontobel AG       15.0008/29/2022   USD   46.500
Bank Vontobel AG        9.00003/06/2023  CHF   59.700
Bank Vontobel AG        6.00009/04/2023  CHF   59.800
Bank Vontobel AG       12.00009/05/2022  EUR   48.500
Credit Suisse AG/Londo 12.00010/18/2022  EUR   28.370
Credit Suisse AG/Londo 11.00010/20/2022  EUR   61.910
Credit Suisse AG/Londo 13.50010/24/2022  USD   53.460
Credit Suisse AG/Londo  8.00010/25/2022  USD   70.940
Basler Kantonalbank     9.0004/27/2023   CHF   74.030
Vontobel Financial Pro 14.00012/23/2022  EUR   69.820
Vontobel Financial Pro  9.25012/23/2022  EUR   43.270
DZ Bank AG Deutsche Ze  9.50010/28/2022  EUR   68.080
DZ Bank AG Deutsche Ze  6.50012/23/2022  EUR   73.900
DZ Bank AG Deutsche Ze  7.60012/23/2022  EUR   71.470
DZ Bank AG Deutsche Ze 12.8009/23/2022   EUR   68.310
DZ Bank AG Deutsche Ze 10.10010/28/2022  EUR   71.300
DZ Bank AG Deutsche Ze  9.60012/23/2022  EUR   72.420
DZ Bank AG Deutsche Ze  9.50010/28/2022  EUR   60.140
DZ Bank AG Deutsche Ze 16.6009/23/2022   EUR   46.640
DZ Bank AG Deutsche Ze 18.80010/28/2022  EUR   44.880
DZ Bank AG Deutsche Ze 12.10010/28/2022  EUR   61.210
DZ Bank AG Deutsche Ze  9.40010/28/2022  EUR   64.350
Vontobel Financial Pro  5.50012/23/2022  EUR   72.660
Vontobel Financial Pro  8.25012/23/2022  EUR   65.540
Vontobel Financial Pro  9.75012/23/2022  EUR   71.700
Republic of Ireland In  1.21010/27/2111  EUR   63.902
Landesbank Baden-Wuert  3.00001/02/2026  EUR   71.220
Corner Banca SA        13.68010/28/2022  EUR   55.060
Landesbank Baden-Wuert  0.5607/13/2034   EUR   73.441
Landesbank Baden-Wuert  3.1007/24/2026   EUR   69.110
Leonteq Securities AG/  8.09010/04/2023  CHF   57.810
DZ Bank AG Deutsche Ze 10.50010/26/2022  EUR   54.320
DZ Bank AG Deutsche Ze 10.00010/26/2022  EUR   72.330
DZ Bank AG Deutsche Ze 13.75010/26/2022  EUR   72.660
DZ Bank AG Deutsche Ze  8.7509/21/2022   EUR   56.850
DZ Bank AG Deutsche Ze  5.25012/21/2022  EUR   53.460
DZ Bank AG Deutsche Ze  9.00012/21/2022  EUR   57.970
Societe Generale Effek 14.7508/26/2022   EUR   46.470
Societe Generale Effek  6.2509/23/2022   EUR   71.040
Societe Generale Effek  8.2509/23/2022   EUR   66.560
Societe Generale Effek 10.7508/26/2022   EUR   53.760
Bank Julius Baer & Co   6.50010/05/2022  CHF   71.750
Bank Julius Baer & Co   5.20001/05/2023  CHF   73.700
Landesbank Baden-Wuert  4.30011/25/2022  EUR   69.760
Landesbank Baden-Wuert  3.00011/25/2022  EUR   70.980
Vontobel Financial Pro 12.2509/23/2022   EUR   66.530
Vontobel Financial Pro 10.2509/23/2022   EUR   41.180
EFG International Fina 15.00010/06/2022  USD   41.730
DZ Bank AG Deutsche Ze 15.30012/23/2022  EUR   73.690
DZ Bank AG Deutsche Ze  8.90010/28/2022  EUR   69.140
DZ Bank AG Deutsche Ze  8.5009/23/2022   EUR   74.030
DZ Bank AG Deutsche Ze 10.5009/23/2022   EUR   70.390
DZ Bank AG Deutsche Ze 12.20010/28/2022  EUR   69.430
DZ Bank AG Deutsche Ze 11.30012/23/2022  EUR   69.710
DZ Bank AG Deutsche Ze 14.80012/23/2022  EUR   49.950
DZ Bank AG Deutsche Ze 17.30012/23/2022  EUR   47.140
DZ Bank AG Deutsche Ze  8.90010/28/2022  EUR   63.540
TransFin-M PAO          9.25010/09/2031  RUB   61.000
Vontobel Financial Pro 17.50012/23/2022  EUR   64.990
EFG International Fina 16.00010/27/2022  CHF   22.510
Vontobel Financial Pro 21.72010/05/2022  USD   52.590
Leonteq Securities AG/ 25.20010/04/2022  CHF   53.760
DZ Bank AG Deutsche Ze 15.00010/26/2022  EUR   46.500
DZ Bank AG Deutsche Ze 11.75010/26/2022  EUR   56.410
DZ Bank AG Deutsche Ze  5.50012/21/2022  EUR   66.490
DZ Bank AG Deutsche Ze 11.75012/21/2022  EUR   58.220
DZ Bank AG Deutsche Ze  5.25012/21/2022  EUR   74.670
DZ Bank AG Deutsche Ze  7.25012/21/2022  EUR   58.530
DZ Bank AG Deutsche Ze  6.50012/21/2022  EUR   68.200
DZ Bank AG Deutsche Ze 11.00012/21/2022  EUR   65.390
DZ Bank AG Deutsche Ze 10.25012/21/2022  EUR   69.830
DZ Bank AG Deutsche Ze  5.50012/21/2022  EUR   67.910
DZ Bank AG Deutsche Ze  7.0009/21/2022   EUR   73.510
Societe Generale Effek  7.2509/23/2022   EUR   68.610
Societe Generale Effek  9.2509/23/2022   EUR   64.740
Societe Generale Effek 12.7508/26/2022   EUR   49.660
Bank Julius Baer & Co   7.4509/26/2022   USD   57.800
Bank Julius Baer & Co   8.4009/26/2022   USD   70.350
Landesbank Baden-Wuert  0.6607/14/2036   EUR   70.695
Leonteq Securities AG/ 14.00010/28/2022  CHF   49.460
Leonteq Securities AG/  8.0004/28/2023   CHF   74.590
Landesbank Baden-Wuert  3.15012/23/2022  EUR   73.170
Credit Suisse AG/Londo  4.4506/28/2023   USD    8.788
Zurcher Kantonalbank F 12.50010/05/2022  USD   54.200
UBS AG/London           7.5009/29/2023   CHF   68.750
UBS AG/London          12.0003/29/2023   EUR   66.100
UBS AG/London          14.7503/29/2023   CHF   62.100
UBS AG/London          10.0003/29/2023   CHF   60.350
UBS AG/London           6.2509/29/2023   CHF   71.950
UBS AG/London          14.2504/20/2023   USD   58.500
UBS AG/London           6.5001/23/2023   CHF   71.500
Leonteq Securities AG   8.0006/28/2023   CHF   59.540
Credit Suisse AG/Londo  6.00011/28/2022  CHF   74.030
UBS AG/London          11.25009/01/2022  EUR   55.850
UBS AG/London          10.5002/27/2023   CHF   72.950
UBS AG/London           6.5008/15/2022   USD   44.700
Credit Suisse AG/Londo  8.00012/09/2022  CHF   60.920
Credit Suisse AG/Londo  7.00009/12/2022  CHF   73.560
Credit Suisse AG/Londo  8.5009/13/2022   CHF   15.980
Credit Suisse AG/Londo  8.50012/16/2022  CHF   54.680
Bank Vontobel AG        6.7503/17/2023   CHF   62.600
Bank Vontobel AG        7.0009/18/2023   CHF   68.400
Bank Vontobel AG        8.5003/17/2023   CHF   45.900
Bank Vontobel AG       11.0003/24/2023   EUR   72.400
Bank Vontobel AG        7.2503/24/2023   CHF   60.200
UBS AG/London           7.50012/30/2022  CHF   73.500
UBS AG/London           7.00012/30/2022  CHF   66.950
Bank Vontobel AG        7.5001/16/2023   EUR   64.900
Bank Vontobel AG        9.2501/16/2023   CHF   62.400
Bank Vontobel AG        8.0001/16/2023   CHF   69.400
Bank Vontobel AG       10.0002/28/2023   CHF   51.800
Bank Vontobel AG        6.0002/27/2023   CHF   65.600
Credit Suisse AG/Londo 15.2509/19/2022   EUR   22.320
Credit Suisse AG/Londo 10.2509/21/2022   CHF   14.870
Credit Suisse AG/Londo  8.00012/27/2022  EUR   35.340
Credit Suisse AG/Londo  8.00012/27/2022  CHF   59.260
Bank Vontobel AG        5.25003/02/2023  CHF   65.000
Bank Vontobel AG        7.50012/19/2022  EUR   34.500
Bank Vontobel AG        6.5009/18/2023   CHF   68.700
UBS AG/London          12.5002/13/2023   CHF   24.080
UBS AG/London          11.0007/21/2023   USD   38.850
Credit Suisse AG/Londo 11.50010/06/2022  USD   27.450
Credit Suisse AG/Londo 10.2502/13/2023   CHF   60.130
Credit Suisse AG/Londo  7.2508/24/2022   CHF   72.460
Credit Suisse AG/Londo  8.0008/24/2022   USD   49.540
Credit Suisse AG/Londo 10.3502/27/2023   CHF   22.590
Zurcher Kantonalbank F 29.0009/29/2022   CHF   46.280
Zurcher Kantonalbank F  8.25010/04/2022  CHF   62.650
UBS AG/London           8.00010/20/2023  CHF   74.250
UBS AG/London           6.2508/18/2023   CHF   65.800
UBS AG/London           7.5008/18/2023   CHF   59.550
UBS AG/London           8.2508/18/2022   CHF   45.750
UBS AG/London           9.2502/20/2023   CHF   20.300
UBS AG/London           7.0007/21/2023   CHF   66.050
UBS AG/London          11.5001/23/2023   CHF   69.250
UBS AG/London           8.5001/16/2023   CHF   72.200
UBS AG/London           7.25007/10/2023  USD   50.400
Zurcher Kantonalbank F  5.0009/20/2022   CHF   66.760
Zurcher Kantonalbank F 16.5009/23/2022   CHF   50.430
Zurcher Kantonalbank F  6.6009/19/2022   EUR   74.190
UBS AG/London           9.7503/22/2023   CHF   61.800
UBS AG/London          10.5003/22/2023   USD   40.850
UBS AG/London           8.75008/04/2023  CHF   52.150
UBS AG/London           5.75008/04/2023  CHF   57.950
Credit Suisse AG/Londo  9.00010/07/2022  CHF   16.660
Credit Suisse AG/Londo  9.25010/13/2022  EUR   71.690
Credit Suisse AG/Londo  8.5001/13/2023   CHF   65.790
Bank Vontobel AG       20.0009/26/2022   CHF   42.300
Bank Vontobel AG       11.00012/27/2022  EUR   66.700
DZ Bank AG Deutsche Ze 10.7509/21/2022   EUR   46.800
Bank Vontobel AG        5.00012/27/2022  CHF   69.500
DZ Bank AG Deutsche Ze  4.7509/21/2022   EUR   59.670
Bank Vontobel AG        6.00012/27/2022  CHF   63.300
DZ Bank AG Deutsche Ze  9.0009/21/2022   EUR   60.090
UBS AG/London           9.25003/01/2023  CHF   19.720
UBS AG/London           9.00003/01/2023  CHF   69.150
UBS AG/London          10.25003/01/2023  CHF   72.950
UBS AG/London           6.25009/01/2023  EUR   70.750
Bank Vontobel AG        5.2503/24/2023   CHF   66.500
Credit Suisse AG/Londo  7.25012/27/2022  CHF   56.660
Credit Suisse AG/Londo  7.50010/03/2022  CHF   68.990
Credit Suisse AG/Londo  8.25010/04/2022  EUR   61.950
Credit Suisse AG/Londo  7.50001/05/2023  CHF   67.510
Bank Vontobel AG        7.0003/31/2023   CHF   57.400
Bank Vontobel AG        5.50010/09/2023  CHF   73.000
DZ Bank AG Deutsche Ze  6.5009/21/2022   EUR   63.360
Bank Vontobel AG       11.00010/10/2022  CHF   60.300
Bank Vontobel AG        8.00001/10/2023  CHF   70.800
Bank Vontobel AG       13.00001/10/2023  CHF   32.000
Bank Vontobel AG       16.25004/12/2023  CHF   58.100
UBS AG/London           9.25003/08/2023  CHF   73.150
UBS AG/London          10.25003/09/2023  USD   39.800
DZ Bank AG Deutsche Ze  5.7509/21/2022   EUR   71.870
DZ Bank AG Deutsche Ze  6.0009/21/2022   EUR   65.190
DZ Bank AG Deutsche Ze  5.0009/21/2022   EUR   70.830
UBS AG/London           6.75001/09/2023  CHF   73.650
UBS AG/London           8.00001/09/2023  CHF   74.650
Vontobel Financial Pro  9.40012/30/2022  CHF   31.910
UBS AG/London           7.0009/22/2023   EUR   74.000
UBS AG/London           9.7503/22/2023   CHF   69.800
Zurcher Kantonalbank F 15.0009/23/2022   CHF   53.000
Zurcher Kantonalbank F 11.0009/27/2022   CHF   69.580
Zurcher Kantonalbank F  8.2509/23/2022   CHF   70.180
Zurcher Kantonalbank F 14.0009/27/2022   USD   49.540
Zurcher Kantonalbank F  6.8001/16/2023   CHF   69.070
SG Issuer SA            0.01511/07/2033  EUR   68.050
Landesbank Baden-Wuert  6.7508/26/2022   EUR   64.360
Landesbank Baden-Wuert  6.0008/26/2022   EUR   47.790
Landesbank Baden-Wuert  2.5008/22/2025   EUR   69.540
Landesbank Baden-Wuert  6.4508/26/2022   EUR   73.550
Landesbank Baden-Wuert  9.4008/26/2022   EUR   72.190
Landesbank Baden-Wuert  3.4008/26/2022   EUR   70.800
Landesbank Baden-Wuert  5.2008/26/2022   EUR   67.720
Landesbank Baden-Wuert  5.5508/26/2022   EUR   73.530
Landesbank Baden-Wuert  5.2508/26/2022   EUR   71.420
Landesbank Baden-Wuert  1.9008/26/2022   EUR   66.780
Landesbank Baden-Wuert  4.9508/26/2022   EUR   56.590
Landesbank Baden-Wuert  4.4008/26/2022   EUR   66.250
Landesbank Baden-Wuert  3.1508/26/2022   EUR   49.930
Landesbank Baden-Wuert  6.7508/26/2022   EUR   71.290
Vontobel Financial Pro 15.0009/23/2022   EUR   49.090
Vontobel Financial Pro  5.5009/23/2022   EUR   74.230
Vontobel Financial Pro  7.5009/23/2022   EUR   69.830
Vontobel Financial Pro 15.0009/23/2022   EUR   59.680
Vontobel Financial Pro  4.0009/23/2022   EUR   74.140
Vontobel Financial Pro 14.0009/23/2022   EUR   55.500
Vontobel Financial Pro 11.5009/23/2022   EUR   59.110
Vontobel Financial Pro  7.0009/23/2022   EUR   73.780
Vontobel Financial Pro  8.5009/23/2022   EUR   69.980
Vontobel Financial Pro 13.0009/23/2022   EUR   63.690
Vontobel Financial Pro 15.0009/23/2022   EUR   60.990
Vontobel Financial Pro  4.5009/23/2022   EUR   62.310
Vontobel Financial Pro  7.0009/23/2022   EUR   53.290
Vontobel Financial Pro  9.0009/23/2022   EUR   72.220
Vontobel Financial Pro 10.5009/23/2022   EUR   72.000
Vontobel Financial Pro  5.5009/23/2022   EUR   36.220
Vontobel Financial Pro  8.5009/23/2022   EUR   32.950
Vontobel Financial Pro 15.0009/23/2022   EUR   28.250
Vontobel Financial Pro  7.5009/23/2022   EUR   41.800
Vontobel Financial Pro  6.5009/23/2022   EUR   56.620
Raiffeisen Schweiz Gen 10.00010/12/2022  EUR   61.860
Landesbank Baden-Wuert  2.2509/23/2022   EUR   65.950
UBS AG/London           9.00002/03/2023  CHF   61.950
Bank Julius Baer & Co   7.80010/17/2022  USD   70.300
Basler Kantonalbank    12.00010/14/2022  CHF   57.360
Basler Kantonalbank     7.0007/14/2023   CHF   73.730
Vontobel Financial Pro  7.0009/23/2022   EUR   72.810
Vontobel Financial Pro  7.5009/23/2022   EUR   69.110
Vontobel Financial Pro 11.5009/23/2022   EUR   73.630
Vontobel Financial Pro 13.5009/23/2022   EUR   70.470
Vontobel Financial Pro 14.5009/23/2022   EUR   69.000
Vontobel Financial Pro 13.5009/23/2022   EUR   49.390
Vontobel Financial Pro  7.5009/23/2022   EUR   56.530
Vontobel Financial Pro  5.5009/23/2022   EUR   60.180
Vontobel Financial Pro  6.5009/23/2022   EUR   58.290
Vontobel Financial Pro 10.0009/23/2022   EUR   53.400
Societe Generale SA    20.0002/29/2024   USD    4.400
EFG International Fina  8.0001/19/2023   CHF   55.910
EFG International Fina  9.0001/16/2023   CHF   22.050
Leonteq Securities AG/  9.00002/08/2023  CHF   54.620
Goldman Sachs & Co Wer 11.0008/24/2022   EUR   60.390
Goldman Sachs & Co Wer  8.0008/24/2022   EUR   67.360
Goldman Sachs & Co Wer  9.0008/24/2022   EUR   65.690
Goldman Sachs & Co Wer  6.0009/21/2022   EUR   67.690
Goldman Sachs & Co Wer  7.00012/21/2022  EUR   69.420
Goldman Sachs & Co Wer  7.0006/21/2023   EUR   69.750
Leonteq Securities AG   8.4001/16/2023   CHF   63.170
Corner Banca SA         8.0001/16/2023   CHF   49.770
Bank Vontobel AG       10.5001/16/2023   CHF   42.300
Leonteq Securities AG/ 11.0001/19/2023   CHF   67.740
Vontobel Financial Pro 13.5009/23/2022   EUR   44.480
Vontobel Financial Pro 16.5009/23/2022   EUR   41.190
Vontobel Financial Pro  4.5009/23/2022   EUR   60.630
Vontobel Financial Pro  6.0009/23/2022   EUR   57.020
Vontobel Financial Pro  7.5009/23/2022   EUR   53.850
Vontobel Financial Pro  9.5009/23/2022   EUR   51.100
Vontobel Financial Pro 13.5009/23/2022   EUR   46.490
Vontobel Financial Pro  7.0009/23/2022   EUR   50.510
Landesbank Hessen-Thue  0.50003/10/2034  EUR   74.126
Vontobel Financial Pro 15.0009/23/2022   EUR   41.680
Vontobel Financial Pro  9.5009/23/2022   EUR   47.070
Vontobel Financial Pro 12.0009/23/2022   EUR   44.150
Vontobel Financial Pro 14.50012/23/2022  EUR   70.100
Vontobel Financial Pro 17.00012/23/2022  EUR   72.380
Vontobel Financial Pro 14.00012/23/2022  EUR   74.870
Vontobel Financial Pro  4.50012/23/2022  EUR   74.880
Vontobel Financial Pro 10.00012/23/2022  EUR   66.890
Vontobel Financial Pro 11.50012/23/2022  EUR   65.310
Vontobel Financial Pro 10.00012/23/2022  EUR   65.810
Vontobel Financial Pro  7.00012/23/2022  EUR   69.880
Vontobel Financial Pro 11.50012/23/2022  EUR   64.040
Vontobel Financial Pro  9.50012/23/2022  EUR   74.380
Vontobel Financial Pro 16.00012/23/2022  EUR   67.910
Vontobel Financial Pro 13.50012/23/2022  EUR   73.550
Vontobel Financial Pro 11.50012/23/2022  EUR   49.740
Vontobel Financial Pro  5.00012/23/2022  EUR   70.550
Vontobel Financial Pro 17.00012/23/2022  EUR   70.600
Vontobel Financial Pro 12.00012/23/2022  EUR   74.430
Vontobel Financial Pro 14.00012/23/2022  EUR   73.030
Vontobel Financial Pro  9.00012/23/2022  EUR   72.180
Vontobel Financial Pro 16.50012/23/2022  EUR   65.340
Vontobel Financial Pro 16.00012/23/2022  EUR   74.960
Vontobel Financial Pro  7.00012/23/2022  EUR   74.570
Vontobel Financial Pro  8.00012/23/2022  EUR   73.160
Vontobel Financial Pro  8.50012/23/2022  EUR   71.640
Vontobel Financial Pro  9.50012/23/2022  EUR   70.360
Vontobel Financial Pro 14.50012/23/2022  EUR   64.830
Vontobel Financial Pro 19.50012/23/2022  EUR   60.640
Vontobel Financial Pro 13.50012/23/2022  EUR   65.820
Vontobel Financial Pro 12.50012/23/2022  EUR   66.870
Vontobel Financial Pro 15.50012/23/2022  EUR   67.080
Vontobel Financial Pro 18.00012/23/2022  EUR   72.610
Vontobel Financial Pro 10.50012/23/2022  EUR   58.500
Vontobel Financial Pro 17.50012/23/2022  EUR   64.680
Raiffeisen Schweiz Gen 12.00012/30/2022  CHF   74.370
Leonteq Securities AG/ 12.00001/10/2023  CHF   55.290
Leonteq Securities AG/ 20.00001/10/2023  CHF   35.370
Leonteq Securities AG/  7.00001/10/2024  CHF   70.120
Raiffeisen Switzerland 10.00001/06/2023  CHF   53.660
Leonteq Securities AG/  3.50001/10/2023  EUR   38.020
DekaBank Deutsche Giro  2.7501/13/2026   EUR   66.980
UBS Group AG            2.30012/03/2035  AUD   69.207
UBS AG/London           9.0007/26/2023   CHF   64.200
UBS AG/London          14.0001/26/2023   CHF   71.300
UBS AG/London           4.7507/26/2023   CHF   68.050
UBS AG/London           7.0007/26/2023   CHF   58.150
UBS AG/London           5.5007/26/2023   CHF   72.350
UBS AG/London           7.5007/26/2023   CHF   74.950
Vontobel Financial Pro 10.0002/14/2023   EUR   70.740
Erste Group Bank AG     9.5003/29/2024   EUR   51.950
Bank Julius Baer & Co  10.30002/03/2023  USD   65.300
Vontobel Financial Pro 10.50012/23/2022  EUR   64.830
Bank Julius Baer & Co  10.00008/07/2023  USD   68.650
BNP Paribas Issuance B  6.0001/20/2027   SEK   73.450
Leonteq Securities AG/ 19.00002/07/2023  CHF   45.650
Credit Suisse AG/Londo  9.00005/02/2023  CHF   69.710
Vontobel Financial Pro 13.00012/23/2022  EUR   52.460
Vontobel Financial Pro  7.5003/24/2023   EUR   52.870
Vontobel Financial Pro 10.0003/24/2023   EUR   73.660
Raiffeisen Switzerland  9.30008/04/2023  USD   66.880
Raiffeisen Schweiz Gen 18.00002/07/2023  CHF   62.540
Single Platform Invest  1.4427/25/2053   EUR   71.955
Bank Julius Baer & Co   8.00002/08/2023  CHF   64.700
Bank Julius Baer & Co   6.35002/08/2023  CHF   60.650
Leonteq Securities AG  15.00001/10/2023  CHF   44.260
Leonteq Securities AG/ 14.00007/07/2023  CHF   73.720
Vontobel Financial Pro 11.75012/23/2022  EUR   56.780
Raiffeisen Switzerland 20.00001/06/2023  CHF   69.040
Raiffeisen Switzerland  9.00007/06/2023  USD   60.300
Societe Generale Effek 20.5009/23/2022   EUR   52.090
Erste Group Bank AG     1.70011/30/2027  RON   73.200
Leonteq Securities AG/ 24.00001/10/2023  CHF   33.920
Region Bourgogne-Franc  0.30012/03/2040  EUR   70.550
UBS AG/London           8.2507/26/2023   CHF   74.250
BPCE SA                 2.28512/03/2035  AUD   64.901
Single Platform Invest  1.0503/17/2039   EUR   74.844
Bank Julius Baer & Co   6.50001/11/2023  CHF   71.800
UBS AG/London           9.7507/26/2023   CHF   65.100
UBS AG/London          19.2501/26/2023   EUR   50.600
EFG International Fina  5.50001/10/2023  EUR   57.820
Department of Bouches   0.43202/01/2046  EUR   65.030
Landesbank Baden-Wuert  2.75011/25/2022  EUR   73.350
Landesbank Baden-Wuert  3.20011/25/2022  EUR   52.040
Goldman Sachs Internat  0.0981/13/2025   EUR   50.000
Leonteq Securities AG/  4.33001/11/2023  USD   67.630
Zurcher Kantonalbank F  9.00012/30/2022  CHF   49.250
Zurcher Kantonalbank F  7.00012/30/2022  CHF   63.890
Vontobel Financial Pro 12.25012/23/2022  EUR   60.190
Vontobel Financial Pro 21.00012/23/2022  EUR   70.450
Vontobel Financial Pro  6.00012/23/2022  EUR   74.660
Vontobel Financial Pro 17.00012/23/2022  EUR   59.970
Vontobel Financial Pro 11.00012/23/2022  EUR   72.740
Vontobel Financial Pro 13.00012/23/2022  EUR   71.390
Vontobel Financial Pro 18.50012/23/2022  EUR   67.560
Vontobel Financial Pro 10.50012/23/2022  EUR   73.180
Vontobel Financial Pro 12.50012/23/2022  EUR   71.570
Vontobel Financial Pro 15.00012/23/2022  EUR   62.710
Vontobel Financial Pro  5.50012/23/2022  EUR   72.510
Vontobel Financial Pro 13.50012/23/2022  EUR   64.030
Vontobel Financial Pro  8.50012/23/2022  EUR   67.750
Vontobel Financial Pro 15.50012/23/2022  EUR   61.310
Vontobel Financial Pro 13.50012/23/2022  EUR   62.600
Vontobel Financial Pro 16.50012/23/2022  EUR   68.830
Vontobel Financial Pro 15.50012/23/2022  EUR   60.550
Vontobel Financial Pro  3.50012/23/2022  EUR   73.530
Vontobel Financial Pro  9.00012/23/2022  EUR   65.770
Vontobel Financial Pro 14.50012/23/2022  EUR   72.030
Goldman Sachs & Co Wer 10.0009/21/2022   EUR   74.150
Vontobel Financial Pro 15.50012/23/2022  EUR   71.560
Vontobel Financial Pro 17.00012/23/2022  EUR   74.050
Vontobel Financial Pro 13.00012/23/2022  EUR   68.510
Vontobel Financial Pro  7.50012/23/2022  EUR   74.460
Vontobel Financial Pro 10.00012/23/2022  EUR   71.190
Vontobel Financial Pro 14.50012/23/2022  EUR   66.760
Vontobel Financial Pro 17.50012/23/2022  EUR   46.170
Vontobel Financial Pro  9.00012/23/2022  EUR   52.320
Vontobel Financial Pro 13.00012/23/2022  EUR   69.480
Vontobel Financial Pro 21.50012/23/2022  EUR   61.110
Vontobel Financial Pro 17.50012/23/2022  EUR   62.180
Vontobel Financial Pro 10.50012/23/2022  EUR   69.140
Vontobel Financial Pro 11.50012/23/2022  EUR   67.970
Vontobel Financial Pro 16.00012/23/2022  EUR   74.790
Vontobel Financial Pro 15.00012/23/2022  EUR   74.960
Vontobel Financial Pro 19.00012/23/2022  EUR   56.700
Vontobel Financial Pro 15.50012/23/2022  EUR   66.040
Vontobel Financial Pro 18.50012/23/2022  EUR   64.060
Raiffeisen Switzerland  7.70001/10/2024  CHF   65.450
Department of Val d'Oi  0.39011/18/2041  EUR   70.301
Societe Generale Effek 21.7508/26/2022   EUR   50.700
Leonteq Securities AG  18.00002/07/2023  CHF   71.990
Leonteq Securities AG/  9.00008/07/2023  CHF   70.570
Leonteq Securities AG/  7.00002/07/2024  CHF   72.270
Vontobel Financial Pro 13.50012/23/2022  EUR   73.120
Vontobel Financial Pro  9.0003/24/2023   EUR   73.060
BPCE SA                 2.31511/19/2035  AUD   65.221
Mostotrest PJSC         0.0107/29/2026   RUB   60.400
UBS AG/London          12.25011/18/2022  EUR   39.100
Landesbank Baden-Wuert  2.2001/27/2023   EUR   28.330
DekaBank Deutsche Giro  3.25008/11/2023  EUR   58.920
Landesbank Baden-Wuert  2.0002/24/2023   EUR   72.600
Ministeries Van de Vla  0.60011/19/2055  EUR   56.892
Bank Severnyy Morskoy  12.000            RUB   75.000
Norddeutsche Landesban  1.17011/24/2038  EUR   70.885
DekaBank Deutsche Giro  3.50011/04/2022  EUR   62.960
DekaBank Deutsche Giro  3.25011/25/2022  EUR   40.110
DekaBank Deutsche Giro  2.8009/23/2022   EUR   62.130
DekaBank Deutsche Giro  3.2009/23/2022   EUR   50.170
SG Issuer SA            7.7001/20/2024   SEK   63.330
Vontobel Financial Pro 13.00012/23/2022  EUR   71.170
Leonteq Securities AG/ 24.00001/06/2023  CHF   34.880
Vontobel Financial Pro 21.00012/23/2022  EUR   57.990
Vontobel Financial Pro 15.00012/23/2022  EUR   70.140
Vontobel Financial Pro 18.50012/23/2022  EUR   67.790
Vontobel Financial Pro 16.50012/23/2022  EUR   68.770
Vontobel Financial Pro 15.50012/23/2022  EUR   73.580
Vontobel Financial Pro  7.00012/23/2022  EUR   70.480
Vontobel Financial Pro  8.50012/23/2022  EUR   68.610
Vontobel Financial Pro 17.00012/23/2022  EUR   61.660
Vontobel Financial Pro 19.00012/23/2022  EUR   60.720
Vontobel Financial Pro 19.00012/23/2022  EUR   58.930
Vontobel Financial Pro  9.50012/23/2022  EUR   74.420
Vontobel Financial Pro 15.50012/23/2022  EUR   70.930
Vontobel Financial Pro 18.00012/23/2022  EUR   68.750
Vontobel Financial Pro 20.50012/23/2022  EUR   66.810
Vontobel Financial Pro 18.50012/23/2022  EUR   71.900
Vontobel Financial Pro 11.00012/23/2022  EUR   63.760
Vontobel Financial Pro 13.50012/23/2022  EUR   62.150
Vontobel Financial Pro  7.00012/23/2022  EUR   68.030
Vontobel Financial Pro 12.50012/23/2022  EUR   73.800
Vontobel Financial Pro 17.00012/23/2022  EUR   73.960
Vontobel Financial Pro 17.50012/23/2022  EUR   70.380
Goldman Sachs & Co Wer 14.0009/21/2022   EUR   65.960
Vontobel Financial Pro  8.50012/23/2022  EUR   73.380
Vontobel Financial Pro 11.00012/23/2022  EUR   70.250
Vontobel Financial Pro 13.50012/23/2022  EUR   67.530
Vontobel Financial Pro  6.50012/23/2022  EUR   55.440
Vontobel Financial Pro 14.50012/23/2022  EUR   47.770
Vontobel Financial Pro 24.50012/23/2022  EUR   51.870
Vontobel Financial Pro 11.00012/23/2022  EUR   72.280
Vontobel Financial Pro 19.00012/23/2022  EUR   62.710
Vontobel Financial Pro 15.00012/23/2022  EUR   66.960
Vontobel Financial Pro 17.00012/23/2022  EUR   64.710
Vontobel Financial Pro 15.50012/23/2022  EUR   63.900
Vontobel Financial Pro 16.50012/23/2022  EUR   63.010
Vontobel Financial Pro 18.50012/23/2022  EUR   61.390
Vontobel Financial Pro 16.50012/23/2022  EUR   73.740
Vontobel Financial Pro 11.50012/23/2022  EUR   71.150
Vontobel Financial Pro 24.00012/23/2022  EUR   52.030
Vontobel Financial Pro 12.00012/23/2022  EUR   69.360
EFG International Fina  4.90011/24/2023  USD   63.260
Vontobel Financial Pro 20.00012/23/2022  EUR   74.550
DekaBank Deutsche Giro  1.00012/23/2024  EUR   73.380
Bank Julius Baer & Co   6.80010/05/2022  CHF   68.000
DZ Bank AG Deutsche Ze  5.00010/26/2022  EUR   65.010
DZ Bank AG Deutsche Ze  8.50010/26/2022  EUR   74.050
DZ Bank AG Deutsche Ze  6.2509/21/2022   EUR   67.740
DZ Bank AG Deutsche Ze  8.00010/26/2022  EUR   71.380
Societe Generale Effek 16.7508/26/2022   EUR   43.860
Societe Generale Effek 16.0009/23/2022   EUR   45.110
Societe Generale Effek 17.5009/23/2022   EUR   55.860
Societe Generale Effek  5.2509/23/2022   EUR   73.970
Bank Julius Baer & Co   7.80001/05/2023  CHF   55.450
Bank Julius Baer & Co   5.70001/05/2023  CHF   72.100
UBS AG/London           8.5009/29/2023   CHF   68.300
UBS AG/London           4.2503/29/2023   EUR   62.100
UBS AG/London           6.7503/29/2023   CHF   73.200
UBS AG/London           8.7503/29/2023   CHF   65.600
UBS AG/London          10.2504/20/2023   CHF   75.000
UBS AG/London           8.25010/20/2023  CHF   72.300
UBS AG/London          10.2504/20/2023   CHF   52.500
UBS AG/London          12.0001/23/2023   CHF   51.150
Region de Bruxelles-Ca  1.0366/29/2049   EUR   71.235
UBS AG/London           9.0007/21/2023   EUR   63.100
Credit Suisse AG/Londo 11.5008/25/2022   USD   31.160
Credit Suisse AG/Londo 10.00009/09/2022  USD   53.590
Credit Suisse AG/Londo 10.25009/02/2022  EUR   59.770
Credit Suisse AG/Londo 10.00010/03/2022  CHF   48.140
Leonteq Securities AG  14.00012/28/2022  CHF   34.000
Leonteq Securities AG   8.00012/28/2022  CHF   61.740
UBS AG/London           7.50003/01/2023  CHF   69.550
UBS AG/London           6.25009/01/2022  CHF   73.550
UBS AG/London           6.50003/01/2023  CHF   75.000
UBS AG/London           8.25003/01/2023  CHF   51.850
UBS AG/London           9.5002/27/2023   CHF   66.550
Leonteq Securities AG/ 12.0009/28/2022   CHF   69.640
Credit Suisse AG/Londo  7.50009/08/2022  EUR   56.770
Bank Vontobel AG        7.7503/17/2023   CHF   67.100
Bank Vontobel AG       11.5003/17/2023   CHF   48.100
Bank Vontobel AG       10.50012/27/2022  CHF   48.400
Bank Vontobel AG        8.0003/24/2023   CHF   66.300
UBS AG/London           6.0006/30/2023   CHF   51.250
Bank Vontobel AG       10.0002/27/2023   EUR   35.900
Bank Vontobel AG        7.5008/28/2023   CHF   62.300
Credit Suisse AG/Londo  7.00012/16/2022  CHF   62.260
Credit Suisse AG/Londo  7.00012/23/2022  CHF   67.800
Bank Vontobel AG       11.50012/12/2022  EUR   67.200
Bank Vontobel AG       12.0008/30/2022   EUR   60.200
Bank Vontobel AG       15.50012/19/2022  EUR   34.900
Bank Vontobel AG        6.5003/17/2023   CHF   68.400
UBS AG/London           9.2502/20/2023   CHF   20.300
UBS AG/London           7.7508/18/2023   CHF   74.200
Luzerner Kantonalbank   9.70010/01/2024  CHF   69.190
Bank Vontobel AG        8.7504/18/2023   CHF   21.500
Bank Vontobel AG       19.00012/05/2022  CHF   48.800
Bank Vontobel AG        9.50012/12/2022  CHF   65.200
Bank Vontobel AG        8.00003/10/2023  CHF   61.300
Zurcher Kantonalbank F  8.0009/13/2022   CHF   71.310
Zurcher Kantonalbank F 13.0009/20/2022   USD   47.010
Zurcher Kantonalbank F 21.0009/16/2022   CHF   74.310
Zurcher Kantonalbank F 10.60003/09/2023  CHF   62.290
Zurcher Kantonalbank F  9.7503/16/2023   CHF   63.240
Zurcher Kantonalbank F  8.5009/16/2022   CHF   60.080
Zurcher Kantonalbank F 13.5009/20/2022   EUR   63.440
Credit Suisse AG/Londo  7.50010/12/2022  USD   67.300
Credit Suisse AG/Londo  9.00010/12/2022  EUR   70.900
Zurcher Kantonalbank F 16.00010/14/2022  CHF   19.260
UBS AG/London           4.0003/15/2023   CHF   61.000
UBS AG/London           5.5003/15/2023   EUR   35.250
UBS AG/London           7.7509/15/2023   CHF   72.200
UBS AG/London          10.7503/15/2023   USD   45.350
UBS AG/London          10.0003/22/2023   CHF   57.800
UBS AG/London          12.0003/22/2023   CHF   20.960
Zurcher Kantonalbank F 19.50010/12/2022  CHF   50.390
Zurcher Kantonalbank F  9.35010/05/2022  EUR   65.530
UBS AG/London           8.00001/09/2023  CHF   50.700
Zurcher Kantonalbank F 19.50009/08/2022  CHF   19.850
Credit Suisse AG/Londo  9.50010/21/2022  EUR   69.470
Credit Suisse AG/Londo  7.00010/26/2022  CHF   70.900
Bank Vontobel AG       18.50009/06/2022  USD   57.600
Bank Vontobel AG       12.00009/06/2022  USD   16.900
Bank Vontobel AG        4.50009/08/2023  CHF   73.900
Bank Vontobel AG       13.00011/28/2022  CHF   47.600
Bank Vontobel AG        7.25010/02/2023  CHF   59.000
Zurcher Kantonalbank F  5.0001/13/2023   CHF   67.490
Bank Vontobel AG       20.00010/03/2022  CHF   62.300
Bank Vontobel AG        6.5026/26/2023   CHF   51.600
Bank Vontobel AG        7.00012/27/2022  CHF   53.800
Bank Vontobel AG        5.7506/26/2023   CHF   72.400
Bank Vontobel AG        8.5001/23/2023   CHF   18.800
Bank Vontobel AG        7.0001/23/2023   CHF   68.600
Bank Vontobel AG        5.0001/23/2023   EUR   74.300
Bank Vontobel AG       12.00010/24/2022  CHF   62.600
Leonteq Securities AG/  9.00005/02/2023  CHF   62.630
Bank Vontobel AG       16.5008/29/2022   CHF   28.700
Bank Vontobel AG        6.0008/28/2023   CHF   64.500
Bank Vontobel AG        6.5008/28/2023   CHF   60.200
Bank Vontobel AG       25.0008/25/2022   CHF   48.900
Bank Vontobel AG        5.50011/28/2022  CHF   57.700
Bank Vontobel AG        8.2508/29/2022   EUR   60.400
UBS AG/London           8.0007/28/2023   CHF   55.000
Landesbank Baden-Wuert  2.8006/23/2023   EUR   46.090
Landesbank Baden-Wuert  4.2006/23/2023   EUR   68.510
Credit Suisse AG/Londo 10.25011/09/2022  USD   29.960
Landesbank Baden-Wuert  4.5006/23/2023   EUR   72.970
Credit Suisse AG/Londo  7.00011/14/2022  CHF   67.900
Landesbank Baden-Wuert  2.6006/23/2023   EUR   52.170
Landesbank Baden-Wuert  4.5006/23/2023   EUR   49.470
Landesbank Baden-Wuert  2.2506/23/2023   EUR   54.490
Landesbank Baden-Wuert  5.3006/23/2023   EUR   63.420
UBS AG/London          10.50004/06/2023  CHF   62.600
Landesbank Baden-Wuert  5.3506/23/2023   EUR   69.030
UBS AG/London          10.50010/13/2022  CHF   59.750
Landesbank Baden-Wuert  6.0006/23/2023   EUR   66.390
UBS AG/London          14.7504/14/2023   USD   56.450
UBS AG/London          13.2504/14/2023   USD   61.150
Landesbank Baden-Wuert  3.5006/23/2023   EUR   70.900
Landesbank Baden-Wuert  5.0006/23/2023   EUR   45.650
Landesbank Baden-Wuert  5.6006/23/2023   EUR   58.990
Landesbank Baden-Wuert  2.5506/23/2023   EUR   72.110
UBS AG/London          13.00010/06/2022  CHF   46.000
UBS AG/London          13.75010/06/2023  USD   29.880
UBS AG/London          21.2502/20/2023   CHF   27.700
UBS AG/London           7.7508/18/2023   CHF   68.700
Landesbank Baden-Wuert  2.7506/23/2023   EUR   66.090
UBS AG/London           9.2502/27/2023   CHF   21.500
Landesbank Baden-Wuert  4.2506/23/2023   EUR   58.300
UBS AG/London          15.7502/27/2023   CHF   50.250
Landesbank Baden-Wuert  2.2506/23/2023   EUR   63.960
UBS AG/London           9.0008/25/2023   USD   63.600
UBS AG/London           7.2502/27/2023   CHF   59.600
UBS AG/London          11.0002/27/2023   CHF   48.800
UBS AG/London           7.75010/13/2023  CHF   64.700
UBS AG/London          10.25004/06/2023  USD   70.100
UBS AG/London          13.00004/06/2023  USD   51.500
Zurcher Kantonalbank F 23.00010/20/2022  CHF   69.340
Zurcher Kantonalbank F 10.00010/25/2022  CHF   56.810
Basler Kantonalbank    10.0009/30/2022   CHF   71.790
Zurcher Kantonalbank F 26.80010/25/2022  CHF   59.700
Zurcher Kantonalbank F 10.00010/24/2022  USD   60.090
UBS AG/London           9.2503/29/2023   USD   69.550
UBS AG/London           8.5003/29/2023   CHF   63.800
UBS AG/London          10.00012/30/2022  CHF   47.500
Bank Vontobel AG        7.5004/24/2023   CHF   64.800
Bank Vontobel AG        7.5004/24/2023   CHF   61.200
Bank Vontobel AG        9.2501/23/2023   EUR   62.500
UBS AG/London           7.00002/06/2023  CHF   59.450
UBS AG/London          18.75002/06/2023  CHF   53.350
UBS AG/London           9.90007/01/2024  EUR   63.570
UBS AG/London          10.7501/30/2023   CHF   60.350
Bank Vontobel AG       10.00003/06/2023  CHF   67.000
Bank Vontobel AG        8.00012/05/2022  CHF   65.600
Bank Vontobel AG       13.75003/06/2023  EUR   36.500
Credit Suisse AG/Londo  9.50010/18/2022  CHF   17.600
Credit Suisse AG/Londo 12.25010/24/2022  CHF   53.580
Norddeutsche Landesban  1.1507/23/2036   EUR   74.859
Raiffeisen Centrobank  11.75008/04/2023  EUR   45.560
Norddeutsche Landesban  0.9257/23/2036   EUR   72.348
Leonteq Securities AG/ 11.00012/28/2022  USD   55.360
Dr Max Funding SRO      5.0506/23/2028   EUR   64.176
Zurcher Kantonalbank F  9.0001/16/2023   CHF   73.300
Leonteq Securities AG/  6.00007/05/2023  CHF   57.260
DZ Bank AG Deutsche Ze  7.50012/23/2022  EUR   22.810
DZ Bank AG Deutsche Ze 10.00012/23/2022  EUR   20.940
Bank Julius Baer & Co  11.00001/04/2023  CHF   68.100
Luzerner Kantonalbank  13.7009/29/2022   EUR   70.840
Corner Banca SA        12.00001/05/2023  EUR   73.070
Leonteq Securities AG  10.00010/05/2022  CHF   57.700
Leonteq Securities AG  10.00001/05/2023  CHF   62.490
Leonteq Securities AG  14.00010/05/2022  CHF   46.780
Corner Banca SA        16.00010/05/2022  CHF   47.170
Single Platform Invest  1.25005/10/2044  EUR   71.470
Leonteq Securities AG/ 10.00010/05/2022  CHF   17.990
BNP Paribas Issuance B  5.6804/25/2023   EUR   66.950
Raiffeisen Switzerland 10.0004/16/2024   USD   61.390
LP Portfolio Vagyonkez  2.80011/30/2030  HUF   55.900
UniCredit Bank AG       4.60011/25/2022  EUR   72.000
UniCredit Bank AG       5.90011/25/2022  EUR   66.850
UniCredit Bank AG       5.20011/25/2022  EUR   69.320
UniCredit Bank AG       7.90011/25/2022  EUR   60.500
UniCredit Bank AG       7.20011/25/2022  EUR   62.430
UniCredit Bank AG       8.60011/25/2022  EUR   58.690
UniCredit Bank AG       6.50011/25/2022  EUR   64.540
UniCredit Bank AG       9.40011/25/2022  EUR   57.020
Corner Banca SA        12.00010/19/2022  EUR   58.560
Credit Agricole Corpor  3.1004/28/2041   AUD   73.082
Leonteq Securities AG/  9.00010/19/2022  USD   59.820
Leonteq Securities AG/ 10.00010/19/2022  CHF   46.890
Leonteq Securities AG/  7.00010/19/2022  CHF   56.080
Banque Cantonale Vaudo  7.5004/14/2023   CHF   65.100
Ebis OOO               12.00004/09/2024  RUB   38.150
DekaBank Deutsche Giro  2.4005/17/2024   EUR   48.170
UBS AG/London           7.8004/20/2026   EUR   66.070
Raiffeisen Centrobank   4.9665/17/2023   EUR   68.370
DekaBank Deutsche Giro  2.0005/19/2023   EUR   68.530
Bank Vontobel AG        8.50210/17/2022  EUR   62.400
Bank Vontobel AG        7.50110/16/2023  CHF   58.700
Bank Vontobel AG        8.00010/17/2022  CHF   55.900
UniCredit Bank AG       4.3008/15/2022   EUR   46.980
UBS AG/London           8.25010/21/2022  CHF   60.350
UBS AG/London           7.25010/21/2022  EUR   63.250
UBS AG/London           7.0004/21/2023   USD   42.600
UBS AG/London           9.00010/21/2022  CHF   37.500
UBS AG/London          13.25010/21/2022  CHF   43.550
UBS AG/London          23.75010/21/2022  USD   59.250
UBS AG/London          10.5004/21/2023   CHF   23.060
UBS AG/London          13.25010/21/2022  CHF   43.750
UBS AG/London           6.7504/21/2023   CHF   73.900
EFG International Fina  5.8004/26/2023   EUR   20.170
EFG International Fina  5.7004/26/2023   USD   39.640
EFG International Fina  6.6601/19/2023   USD   72.260
Leonteq Securities AG/ 20.4001/18/2023   CHF   73.540
Societe Generale Effek 16.0009/23/2022   EUR   72.540
DZ Bank AG Deutsche Ze  4.8009/23/2022   EUR   72.990
DZ Bank AG Deutsche Ze  4.60012/23/2022  EUR   73.840
DZ Bank AG Deutsche Ze  8.4001/27/2023   EUR   68.420
DZ Bank AG Deutsche Ze  4.4003/24/2023   EUR   74.430
DZ Bank AG Deutsche Ze 15.60012/23/2022  EUR   74.990
DZ Bank AG Deutsche Ze 15.3009/23/2022   EUR   73.430
DZ Bank AG Deutsche Ze 21.5003/24/2023   EUR   61.330
DZ Bank AG Deutsche Ze  7.9001/27/2023   EUR   62.520
DZ Bank AG Deutsche Ze  9.6001/27/2023   EUR   73.170
DZ Bank AG Deutsche Ze 11.3001/27/2023   EUR   71.330
Societe Generale Effek 22.2509/23/2022   EUR   60.370
Societe Generale Effek 13.50011/25/2022  EUR   72.100
Societe Generale Effek 17.50011/25/2022  EUR   65.480
DZ Bank AG Deutsche Ze  9.6001/27/2023   EUR   69.970
DZ Bank AG Deutsche Ze 14.4001/27/2023   EUR   74.420
DZ Bank AG Deutsche Ze 24.6009/23/2022   EUR   61.320
DZ Bank AG Deutsche Ze 19.4001/27/2023   EUR   65.890
DZ Bank AG Deutsche Ze 16.5003/24/2023   EUR   68.750
DZ Bank AG Deutsche Ze  6.0001/27/2023   EUR   70.300
DZ Bank AG Deutsche Ze  9.2001/27/2023   EUR   66.900
DZ Bank AG Deutsche Ze  8.4003/24/2023   EUR   67.890
DZ Bank AG Deutsche Ze 11.6001/27/2023   EUR   74.680
Societe Generale Effek 10.50010/28/2022  EUR   72.720
Credit Suisse AG/Londo  8.2504/13/2023   CHF   72.580
Bank Vontobel AG        9.0007/14/2023   EUR   66.500
Bank Vontobel AG        7.5001/16/2023   CHF   60.200
Bank Vontobel AG        6.7507/14/2023   CHF   66.100
Landesbank Baden-Wuert  3.5009/22/2023   EUR   74.870
Landesbank Baden-Wuert  4.8509/22/2023   EUR   61.080
Erste Group Bank AG     4.7502/15/2023   EUR   61.200
Vontobel Financial Pro  4.0001/23/2023   EUR   73.510
Societe Generale Effek 14.2509/23/2022   EUR   73.820
Societe Generale Effek 18.2509/23/2022   EUR   66.530
Societe Generale Effek 20.2509/23/2022   EUR   63.800
Societe Generale Effek 12.75012/23/2022  EUR   73.620
Societe Generale Effek 16.75012/23/2022  EUR   67.180
Societe Generale Effek 18.75012/23/2022  EUR   64.690
Societe Generale Effek  8.50012/23/2022  EUR   72.260
Societe Generale Effek 17.7508/26/2022   EUR   67.590
BNP Paribas Issuance B  3.7001/23/2024   EUR   68.500
BNP Paribas Issuance B  3.7001/23/2024   EUR   57.700
BNP Paribas Issuance B  2.8001/23/2024   EUR   64.300
BNP Paribas Issuance B  3.4001/23/2024   EUR   54.150
Raiffeisen Switzerland  6.2509/25/2023   CHF   70.350
EFG International Fina 15.0009/26/2022   CHF   51.740
EFG International Fina 10.0009/26/2022   CHF   62.480
UBS AG/London          12.2509/26/2022   EUR   64.250
UBS AG/London          26.2509/26/2022   USD   30.000
UBS AG/London           9.7509/26/2022   CHF   45.600
UBS AG/London          12.7509/26/2022   CHF   58.550
Sberbank of Russia PJS  0.0103/25/2026   RUB   74.300
Sberbank of Russia PJS  0.0103/27/2028   RUB   65.610
DekaBank Deutsche Giro  2.0509/22/2022   EUR   62.590
Vontobel Financial Pro 15.3503/29/2023   EUR   47.570
Vontobel Financial Pro 17.7503/29/2023   EUR   41.450
BNP Paribas Emissions-  5.0009/22/2022   EUR   67.750
BNP Paribas Emissions-  8.0009/22/2022   EUR   70.290
BNP Paribas Emissions-  8.0009/22/2022   EUR   63.300
BNP Paribas Emissions-  5.0009/22/2022   EUR   72.790
BNP Paribas Emissions-  4.0009/22/2022   EUR   74.210
Leonteq Securities AG/  9.0009/26/2022   CHF   69.230
Leonteq Securities AG/ 12.0009/26/2022   USD   68.620
Leonteq Securities AG/  7.0009/26/2022   CHF   71.550
EFG International Fina  9.0003/26/2024   USD   63.370
Corner Banca SA         8.0009/26/2022   CHF   56.100
Corner Banca SA        14.0009/26/2022   USD   42.190
Leonteq Securities AG   9.0003/29/2023   CHF   71.110
Leonteq Securities AG   7.0009/26/2022   CHF   69.550
Vontobel Financial Pro 15.8003/30/2023   EUR   50.570
Societe Generale SA     2.5803/31/2031   AUD   74.238
Bank Vontobel AG        5.5083/24/2023   CHF   68.800
Bank Vontobel AG        5.5079/25/2023   CHF   48.500
Landesbank Baden-Wuert  2.7004/28/2025   EUR   72.690
Landesbank Baden-Wuert  7.50010/28/2022  EUR   64.380
Landesbank Baden-Wuert  5.60010/28/2022  EUR   74.320
Landesbank Baden-Wuert  7.40010/28/2022  EUR   68.430
Landesbank Baden-Wuert  4.10010/28/2022  EUR   72.120
Landesbank Baden-Wuert  6.10010/28/2022  EUR   65.390
Landesbank Baden-Wuert  5.05010/28/2022  EUR   70.890
Landesbank Baden-Wuert  7.85010/28/2022  EUR   60.140
Landesbank Baden-Wuert  4.05010/28/2022  EUR   35.310
Landesbank Baden-Wuert  6.35010/28/2022  EUR   31.100
Landesbank Baden-Wuert  9.50010/28/2022  EUR   70.570
Landesbank Baden-Wuert  8.90010/28/2022  EUR   73.780
Landesbank Baden-Wuert  2.20010/28/2022  EUR   74.180
Landesbank Baden-Wuert  4.00010/28/2022  EUR   74.100
Landesbank Baden-Wuert  5.50010/28/2022  EUR   68.670
Landesbank Baden-Wuert  3.80010/28/2022  EUR   74.080
Landesbank Baden-Wuert  5.50010/28/2022  EUR   68.810
Landesbank Baden-Wuert  6.20010/28/2022  EUR   71.510
Landesbank Baden-Wuert  2.75010/28/2022  EUR   73.950
Landesbank Baden-Wuert  3.60010/28/2022  EUR   70.640
Landesbank Baden-Wuert  4.50010/28/2022  EUR   67.650
Landesbank Baden-Wuert  2.50010/28/2022  EUR   73.660
Landesbank Baden-Wuert  4.10010/28/2022  EUR   67.250
Landesbank Baden-Wuert  3.75010/28/2022  EUR   54.060
Landesbank Baden-Wuert  7.10010/28/2022  EUR   44.100
Landesbank Baden-Wuert  3.50010/28/2022  EUR   41.180
Landesbank Baden-Wuert  5.75010/28/2022  EUR   36.650
Landesbank Baden-Wuert  3.80010/28/2022  EUR   70.380
Landesbank Baden-Wuert  6.85010/28/2022  EUR   58.260
Landesbank Baden-Wuert  4.70010/28/2022  EUR   67.640
DekaBank Deutsche Giro  4.3004/26/2024   EUR   70.300
UniCredit Bank AG       5.4004/30/2024   EUR   71.570
Bank Vontobel AG        6.0079/26/2022   CHF   67.000
Bank Vontobel AG        9.0009/26/2022   EUR   54.400
Bank Vontobel AG        9.0099/26/2022   EUR   54.400
Bank Vontobel AG       14.0069/26/2022   CHF   29.600
Bank Vontobel AG       12.5089/26/2022   CHF   60.700
Raiffeisen Switzerland 11.75010/06/2022  CHF   69.850
UBS AG/London           9.7509/30/2022   CHF   72.050
UBS AG/London           9.5009/30/2022   CHF   44.900
UBS AG/London           9.0003/31/2023   CHF   61.400
UBS AG/London           6.5003/31/2023   USD   49.900
UBS AG/London          10.2509/30/2022   CHF   67.750
UBS AG/London          16.0009/30/2022   CHF   22.680
Zurcher Kantonalbank F 12.25010/07/2022  CHF   57.250
EFG International Fina  6.0003/30/2023   USD   68.720
Landesbank Baden-Wuert  0.6904/20/2034   EUR   74.975
Landesbank Baden-Wuert  3.0004/23/2027   EUR   69.410
Landesbank Baden-Wuert  3.1004/23/2027   EUR   68.000
Norddeutsche Landesban  0.85005/12/2036  EUR   71.670
Norddeutsche Landesban  1.00005/12/2036  EUR   73.324
Leonteq Securities AG  12.00010/06/2022  CHF   58.910
Leonteq Securities AG/ 13.00010/06/2022  USD   51.940
Leonteq Securities AG/  7.00010/06/2022  CHF   68.350
Leonteq Securities AG/  8.00010/06/2022  CHF   58.420
Banque Cantonale Vaudo  5.00004/06/2023  CHF   57.780
Landesbank Baden-Wuert  0.5702/27/2034   EUR   73.960
Credit Agricole Corpor 11.19003/12/2027  TRY   43.311
NRW Bank                0.64202/09/2051  EUR   73.296
Kreditanstalt fuer Wie  0.6002/16/2051   EUR   74.727
CDC Habitat SEM         0.8142/15/2040   EUR   62.190
CDC Habitat SEM         0.8532/15/2041   EUR   61.451
Raiffeisen Switzerland  7.50002/08/2023  CHF   49.890
Raiffeisen-Landesbank   1.50002/10/2061  EUR   68.256
Landesbank Hessen-Thue  1.0003/17/2036   EUR   74.100
Agence Francaise de De  2.33002/10/2041  AUD   68.921
Societe Generale SA     2.0502/18/2031   AUD   70.862
UBS AG/London           9.75002/10/2023  USD   63.550
EFG International Fina  4.50002/12/2024  USD   54.280
Norddeutsche Landesban  0.70003/12/2036  EUR   70.171
Norddeutsche Landesban  0.82503/12/2036  EUR   71.537
DZ Bank AG Deutsche Ze  3.00012/23/2022  EUR   47.620
DZ Bank AG Deutsche Ze  7.00012/23/2022  EUR   35.950
Societe Generale SA     2.0502/22/2031   AUD   71.198
Raiffeisen Switzerland  7.2002/15/2023   CHF   58.220
Saechsische Aufbaubank  0.3002/18/2042   EUR   71.395
VTB Bank PJSC           3.750            EUR   38.430
UniCredit Bank AG       6.5003/25/2024   EUR   72.430
DekaBank Deutsche Giro  2.9003/17/2023   EUR   64.880
DekaBank Deutsche Giro  2.1003/17/2023   EUR   71.750
Wirtschafts- und Infra  0.3212/18/2041   EUR   73.063
Vontobel Financial Pro 20.5008/17/2022   EUR   58.010
Landesbank Baden-Wuert  3.8002/24/2023   EUR   74.690
UBS AG/London          14.7502/17/2023   CHF   31.700
DZ Bank AG Deutsche Ze  9.90011/25/2022  EUR   68.430
DZ Bank AG Deutsche Ze  8.4003/24/2023   EUR   70.600
Societe Generale Effek  9.5008/26/2022   EUR   61.010
Societe Generale Effek  3.0009/23/2022   EUR   73.990
Societe Generale Effek  4.50010/28/2022  EUR   69.880
Societe Generale Effek  5.50010/28/2022  EUR   67.580
Societe Generale Effek  6.50010/28/2022  EUR   65.700
Societe Generale Effek  8.50010/28/2022  EUR   62.750
Societe Generale Effek 16.2509/23/2022   EUR   71.350
DZ Bank AG Deutsche Ze 15.70011/25/2022  EUR   45.790
DZ Bank AG Deutsche Ze 18.50011/25/2022  EUR   43.360
DZ Bank AG Deutsche Ze 20.40012/23/2022  EUR   42.660
DZ Bank AG Deutsche Ze 15.6003/24/2023   EUR   47.300
DZ Bank AG Deutsche Ze 15.10011/25/2022  EUR   61.880
DZ Bank AG Deutsche Ze 18.30012/23/2022  EUR   58.830
DZ Bank AG Deutsche Ze 10.7003/24/2023   EUR   69.350
DZ Bank AG Deutsche Ze 13.4003/24/2023   EUR   64.370
DZ Bank AG Deutsche Ze 17.0003/24/2023   EUR   74.160
DZ Bank AG Deutsche Ze 10.00011/25/2022  EUR   74.710
DZ Bank AG Deutsche Ze 11.80012/23/2022  EUR   69.600
DZ Bank AG Deutsche Ze 11.8009/23/2022   EUR   61.660
DZ Bank AG Deutsche Ze 10.50012/23/2022  EUR   64.160
DZ Bank AG Deutsche Ze 14.10012/23/2022  EUR   60.400
DZ Bank AG Deutsche Ze  9.1003/24/2023   EUR   65.730
DZ Bank AG Deutsche Ze  8.70011/25/2022  EUR   61.480
DZ Bank AG Deutsche Ze  4.9003/24/2023   EUR   67.590
DZ Bank AG Deutsche Ze 10.0003/24/2023   EUR   72.440
DZ Bank AG Deutsche Ze 10.0003/24/2023   EUR   69.450
DZ Bank AG Deutsche Ze 13.7003/24/2023   EUR   65.160
DZ Bank AG Deutsche Ze  5.70011/25/2022  EUR   74.850
DZ Bank AG Deutsche Ze  8.90011/25/2022  EUR   70.220
DZ Bank AG Deutsche Ze 12.10011/25/2022  EUR   60.770
DZ Bank AG Deutsche Ze  7.9003/24/2023   EUR   66.290
UniCredit Bank AG       5.60012/21/2022  EUR   67.000
UniCredit Bank AG       9.05012/21/2022  EUR   34.370
UniCredit Bank AG       6.4506/21/2023   EUR   65.940
Bank Vontobel AG       10.7505/22/2023   CHF   47.100
Bank Vontobel AG       11.0002/20/2023   EUR   62.400
Bank Vontobel AG        5.50011/20/2023  CHF   68.200
Bank Vontobel AG       14.0005/22/2023   CHF   70.200
EFG International Fina  9.40011/24/2022  CHF   69.230
UBS AG/London          21.50011/25/2022  USD   49.000
UBS AG/London           8.00011/24/2023  CHF   70.450
UBS AG/London           6.75011/24/2023  CHF   74.600
UBS AG/London           8.0005/24/2023   CHF   61.100
Societe Generale Effek 10.0008/26/2022   EUR   70.220
Societe Generale Effek 11.2509/23/2022   EUR   68.710
Societe Generale Effek 10.75010/28/2022  EUR   69.420
Societe Generale Effek  4.2509/23/2022   EUR   70.320
UBS AG/London           7.00011/24/2023  CHF   68.600
EFG International Fina  9.8006/21/2023   EUR   32.490
Bank Vontobel AG        9.75012/12/2022  CHF   71.300
Bank Vontobel AG        8.50012/12/2022  EUR   63.500
Bank Vontobel AG        7.25006/12/2023  CHF   58.400
Vontobel Financial Pro  3.50007/03/2023  EUR   51.560
Leonteq Securities AG/ 10.0009/21/2022   CHF   61.170
Leonteq Securities AG/  9.00012/21/2022  CHF   55.580
Zurcher Kantonalbank F  6.50012/21/2022  EUR   68.880
Leonteq Securities AG/ 10.0009/21/2022   CHF   64.640
VTB Bank PJSC           0.01004/08/2026  RUB   69.590
Leonteq Securities AG/ 10.00012/21/2022  USD   40.060
DZ Bank AG Deutsche Ze  5.2009/19/2022   EUR   72.860
DZ Bank AG Deutsche Ze  5.7009/19/2022   EUR   71.690
DZ Bank AG Deutsche Ze  4.8009/19/2022   EUR   58.880
DZ Bank AG Deutsche Ze  5.5009/19/2022   EUR   57.700
DZ Bank AG Deutsche Ze  6.0009/19/2022   EUR   56.740
DZ Bank AG Deutsche Ze 10.2509/19/2022   EUR   72.880
DZ Bank AG Deutsche Ze  4.7509/19/2022   EUR   65.750
DZ Bank AG Deutsche Ze  8.2509/19/2022   EUR   57.370
DZ Bank AG Deutsche Ze  6.2509/19/2022   EUR
DZ Bank AG Deutsche Ze  5.0009/19/2022   EUR   74.960
DZ Bank AG Deutsche Ze  7.5009/19/2022   EUR   56.420
Leonteq Securities AG  13.00012/21/2022  CHF   23.530
Leonteq Securities AG  11.0009/21/2022   CHF   59.740
Leonteq Securities AG  15.0009/21/2022   CHF   72.720
Corner Banca SA        12.00012/21/2022  CHF   35.450
Corner Banca SA         8.0006/21/2023   CHF   57.700
Corner Banca SA        10.00012/21/2022  EUR   70.100
Leonteq Securities AG/ 17.0009/21/2022   EUR   47.760
Leonteq Securities AG/ 10.00012/21/2022  USD   67.200
Raiffeisen Schweiz Gen  8.20012/21/2022  EUR   56.950
Raiffeisen Schweiz Gen  7.00012/21/2022  CHF   60.450
Leonteq Securities AG/  5.00012/21/2022  USD   54.250
Nordea Bank Abp         4.7507/20/2026   SEK   74.750
Societe Generale SA    16.7606/21/2024   USD   25.050
ING Bank NV             2.9006/23/2051   USD   72.650
Basler Kantonalbank    10.00012/16/2022  CHF   44.370
Bank Vontobel AG        9.50012/19/2022  EUR   67.800
Bank Vontobel AG        6.50012/19/2022  CHF   64.800
Bank Vontobel AG       14.00012/19/2022  CHF   16.300
Bank Vontobel AG        8.00012/19/2022  EUR   58.300
Bank Vontobel AG       12.5009/19/2022   CHF   49.300
Bank Vontobel AG        7.0009/19/2022   CHF   46.700
Bank Vontobel AG        6.7529/19/2022   CHF   54.800
Bank Vontobel AG       10.00012/19/2022  CHF   46.700
HSBC Trinkaus & Burkha  7.00012/08/2022  EUR   72.970
DZ Bank AG Deutsche Ze  7.75012/23/2022  EUR   43.790
DZ Bank AG Deutsche Ze  6.10012/23/2022  EUR   49.170
DekaBank Deutsche Giro  2.7507/21/2025   EUR   72.210
Landesbank Baden-Wuert  2.5007/25/2025   EUR   73.700
Single Platform Invest  1.4903/20/2051   EUR   71.213
Luzerner Kantonalbank  10.12012/23/2022  CHF   19.850
Basler Kantonalbank    12.00012/23/2022  CHF   69.830
UBS AG/London           9.75012/23/2022  CHF   48.950
UBS AG/London           9.2506/23/2023   USD   51.550
UBS AG/London          10.25012/23/2022  CHF   66.000
UBS AG/London           7.50012/23/2022  CHF   58.400
UBS AG/London           8.0006/23/2023   CHF   62.850
UBS AG/London           5.25012/23/2022  EUR   63.700
UBS AG/London           7.7506/23/2023   CHF   70.700
UBS AG/London          16.75012/23/2022  CHF   28.620
Luzerner Kantonalbank   6.00007/06/2023  EUR   63.570
Luzerner Kantonalbank   5.88007/06/2023  CHF   63.550
Luzerner Kantonalbank   6.78007/06/2023  USD   63.280
Leonteq Securities AG/  7.4002/20/2023   CHF   67.530
Bank Vontobel AG       10.0002/20/2023   CHF   69.600
Bank Vontobel AG       15.0002/20/2023   CHF   52.200
Norddeutsche Landesban  0.7259/22/2036   EUR   69.830
Zurcher Kantonalbank F 26.5008/31/2022   CHF   43.920
Zurcher Kantonalbank F 27.5008/31/2022   USD   30.910
Vontobel Financial Pro 11.2509/23/2022   EUR   54.790
Leonteq Securities AG/ 25.6208/23/2022   CHF   37.440
Leonteq Securities AG/ 25.0208/23/2022   CHF   18.470
Bank Julius Baer & Co   6.50011/24/2022  CHF   74.850
UBS AG/London           8.8508/22/2023   USD    6.613
Bank Julius Baer & Co  11.6008/24/2022   USD   58.250
Bank Julius Baer & Co  10.5002/24/2023   USD   42.000
Abengoa Abenewco 1 SA   6.00006/10/2022  EUR    0.236
DZ Bank AG Deutsche Ze 15.3003/24/2023   EUR   63.560
DZ Bank AG Deutsche Ze 22.80012/23/2022  EUR   69.560
DZ Bank AG Deutsche Ze 19.6003/24/2023   EUR   72.110
DZ Bank AG Deutsche Ze 21.0003/24/2023   EUR   70.410
DZ Bank AG Deutsche Ze 23.8003/24/2023   EUR   67.170
DZ Bank AG Deutsche Ze 14.9003/24/2023   EUR   56.390
DZ Bank AG Deutsche Ze 22.1009/23/2022   EUR   72.830
DZ Bank AG Deutsche Ze  8.2503/22/2023   EUR   68.520
DZ Bank AG Deutsche Ze 13.75012/21/2022  EUR   69.120
DZ Bank AG Deutsche Ze 11.5003/22/2023   EUR   70.540
DZ Bank AG Deutsche Ze 16.0003/22/2023   EUR   60.640
DZ Bank AG Deutsche Ze 10.7503/22/2023   EUR   68.130
DZ Bank AG Deutsche Ze  8.1003/24/2023   EUR   72.180
DZ Bank AG Deutsche Ze  5.25012/21/2022  EUR   63.970
DZ Bank AG Deutsche Ze  5.7503/22/2023   EUR   65.370
DZ Bank AG Deutsche Ze  4.50012/21/2022  EUR   64.850
DZ Bank AG Deutsche Ze 14.0003/24/2023   EUR   60.820
DZ Bank AG Deutsche Ze 16.7003/24/2023   EUR   58.610
DZ Bank AG Deutsche Ze 10.0006/21/2023   EUR   70.340
Bank Vontobel AG       14.2505/19/2023   CHF   65.500
Bank Vontobel AG       17.0002/20/2023   EUR   60.700
Bank Vontobel AG       13.0005/19/2023   CHF   42.000
Bank Vontobel AG       10.2505/19/2023   CHF   72.300
Landesbank Baden-Wuert  2.00011/25/2022  EUR   71.860
Landesbank Baden-Wuert  2.75011/25/2022  EUR   67.130
Landesbank Baden-Wuert  3.20011/25/2022  EUR   36.370
Landesbank Baden-Wuert  5.10011/25/2022  EUR   32.160
Landesbank Baden-Wuert  2.00011/25/2022  EUR   64.940
Landesbank Baden-Wuert  3.10011/25/2022  EUR   59.580
Metropole de Lyon       0.54012/07/2050  EUR   61.313
Metropole de Lyon       0.46612/07/2046  EUR   64.548
Maxima Telecom          9.7505/21/2024   RUB   60.060
Wirtschafts- und Infra  0.20012/02/2043  EUR   67.243
EFG International Fina  4.90012/04/2023  USD   60.440
Societe Generale SA     2.05012/02/2035  USD   63.745
Pannon Work Szemelyzet  3.00010/30/2030  HUF   60.100
UBS AG/London           8.25012/02/2022  CHF   47.900
Santander Internationa  1.10012/07/2040  EUR   73.733
Santander Internationa  1.19212/07/2045  EUR   72.443
Vontobel Financial Pro  0.08012/05/2022  EUR   66.300
Sberbank of Russia PJS  0.01012/02/2025  RUB   72.200
Region of Centre-Val d  0.39012/04/2042  EUR   68.678
Region de Bruxelles-Ca  0.45312/07/2055  EUR   53.782
SG Issuer SA            1.05011/20/2025  EUR   18.050
Nordea Bank Abp         2.00012/29/2025  SEK   67.110
Deutsche Pfandbriefban  0.32012/09/2030  EUR   72.288
Norddeutsche Landesban  0.8251/14/2036   EUR   71.680
Wirtschafts- und Infra  0.17012/09/2041  EUR   69.652
Department of Bouches   0.44512/08/2043  EUR   68.145
Ville de Marseille      0.49812/17/2040  EUR   73.631
Department of Bouches   0.46712/08/2044  EUR   67.165
Department of Bouches   0.49012/08/2045  EUR   66.256
Societe Generale SA    20.00001/03/2024  USD    3.100
UniCredit Bank AG       5.80001/12/2024  EUR   41.040
Vontobel Financial Pro  7.15012/09/2022  CHF   50.180
UBS AG/London           7.25012/09/2022  CHF   48.150
Credit Agricole Corpor 11.1901/15/2026   TRY   49.292
Credit Agricole Corpor  2.10012/18/2035  USD   71.024
Region de Bruxelles-Ca  0.45012/22/2056  EUR   52.735
Promsvyazbank PJSC      0.01012/14/2022  RUB   60.050
Landesbank Baden-Wuert  3.6002/28/2025   EUR   66.370
UBS AG/London           6.25012/23/2022  CHF   45.500
DekaBank Deutsche Giro  2.50002/02/2024  EUR   43.060
EFG International Fina  4.90012/28/2023  USD   59.360
EFG International Fina  7.00012/29/2022  USD    4.450
Credit Suisse AG/Londo 16.30012/26/2023  USD   49.850
DekaBank Deutsche Giro  2.85002/03/2023  EUR   62.050
Natixis SA              2.30012/24/2035  AUD   69.121
Rosselkhozbank JSC      0.01012/24/2023  RUB   65.010
Societe Generale SA     2.12001/06/2036  USD   64.135
Region of Chelyabinsk   6.00012/17/2027  RUB   65.100
Region of Chelyabinsk   6.00012/17/2027  RUB   65.100
Vontobel Financial Pro  5.5001/29/2024   EUR   66.560
VTB Bank PJSC           0.01011/18/2025  RUB   60.010
VTB Bank PJSC           0.01012/02/2025  RUB   70.000
VTB Bank PJSC           0.01012/09/2025  RUB   70.010
VTB Bank PJSC           0.01011/25/2025  RUB   56.530
Bank Vontobel AG        7.75801/09/2023  CHF   65.000
UBS AG/London           8.75001/09/2023  CHF   37.800
UBS AG/London          11.25001/09/2023  CHF   66.850
UBS AG/London          16.30001/08/2024  EUR   12.680
GSP-Finance LLC/Russia 11.4303/27/2028   RUB   70.000
Landesbank Baden-Wuert  2.8501/23/2026   EUR   70.610
Single Platform Invest  0.4192/15/2040   EUR   65.728
Region de Bruxelles-Ca  0.98001/10/2051  EUR   68.211
BPCE SA                 2.55006/09/2035  AUD   68.241
Bank Julius Baer & Co   4.80011/16/2022  CHF   71.250
Bank Julius Baer & Co   9.85011/16/2022  CHF   20.600
Single Platform Invest  1.0232/15/2046   EUR   67.010
Landesbank Baden-Wuert  3.00001/02/2026  EUR   73.940
Banque Internationale  10.0005/16/2023   EUR   52.370
Leonteq Securities AG/ 20.40011/16/2022  CHF   22.620
Leonteq Securities AG/ 24.00011/15/2022  CHF   74.470
Leonteq Securities AG/ 30.00011/15/2022  CHF   40.740
Leonteq Securities AG/ 22.80011/16/2022  CHF   39.000
Raiffeisen Schweiz Gen  6.20011/15/2023  CHF   52.530
Raiffeisen Schweiz Gen  9.00005/12/2023  CHF   48.250
Raiffeisen Schweiz Gen 15.00011/15/2022  CHF   71.190
Raiffeisen Schweiz Gen  6.20011/15/2023  CHF   73.500
Raiffeisen Schweiz Gen  7.50011/15/2023  CHF   48.650
Raiffeisen Schweiz Gen 10.00011/15/2022  CHF   70.820
UniCredit Bank AG      13.2009/23/2022   EUR   72.420
UniCredit Bank AG       8.40012/14/2022  EUR   59.520
Societe Generale Effek 11.7508/26/2022   EUR   65.210
UniCredit Bank AG       7.40012/09/2024  EUR   69.100
Bank Julius Baer & Co   6.52011/17/2022  CHF   58.850
UniCredit Bank AG       7.40012/07/2022  EUR   72.770
DZ Bank AG Deutsche Ze  7.2009/23/2022   EUR   72.100
DZ Bank AG Deutsche Ze 13.5009/23/2022   EUR   65.740
DZ Bank AG Deutsche Ze 12.00012/23/2022  EUR   68.520
DZ Bank AG Deutsche Ze  6.70012/23/2022  EUR   73.670
DZ Bank AG Deutsche Ze 14.2009/23/2022   EUR   74.460
UBS AG/London           6.7505/18/2023   USD   41.900
UBS AG/London           8.5005/17/2023   CHF   73.850
UBS AG/London           6.50011/17/2023  CHF   70.900
UBS AG/London          26.75011/18/2022  USD   47.300
UBS AG/London           8.0005/17/2023   CHF   60.850
UBS AG/London          11.00011/17/2022  CHF   58.200
UBS AG/London           8.50011/17/2023  CHF   71.450
Vontobel Financial Pro 10.0009/23/2022   EUR   72.310
Vontobel Financial Pro  8.0009/23/2022   EUR   74.480
Vontobel Financial Pro 14.0009/23/2022   EUR   68.400
Vontobel Financial Pro  9.5009/23/2022   EUR   73.020
Vontobel Financial Pro 12.0009/23/2022   EUR   70.290
Vontobel Financial Pro 11.5009/23/2022   EUR   70.740
Vontobel Financial Pro 13.5009/23/2022   EUR   68.630
Vontobel Financial Pro 16.0009/23/2022   EUR   66.640
Vontobel Financial Pro 16.0009/23/2022   EUR   66.710
Vontobel Financial Pro 19.00012/23/2022  EUR   55.750
Vontobel Financial Pro 11.00012/23/2022  EUR   61.720
Vontobel Financial Pro 10.5009/23/2022   EUR   61.150
Vontobel Financial Pro  7.5009/23/2022   EUR   65.660
Vontobel Financial Pro 14.5009/23/2022   EUR   57.420
Vontobel Financial Pro 19.0009/23/2022   EUR   54.260
Vontobel Financial Pro 12.5009/23/2022   EUR   59.210
Vontobel Financial Pro 17.0009/23/2022   EUR   55.800
Vontobel Financial Pro 18.0009/23/2022   EUR   70.950
Vontobel Financial Pro 14.5009/23/2022   EUR   74.550
Vontobel Financial Pro 16.0009/23/2022   EUR   72.670
Vontobel Financial Pro  7.5009/23/2022   EUR   66.510
Vontobel Financial Pro 11.5009/23/2022   EUR   62.530
Vontobel Financial Pro 13.5009/23/2022   EUR   60.750
Vontobel Financial Pro  9.5009/23/2022   EUR   64.440
Vontobel Financial Pro  6.0009/23/2022   EUR   68.790
Vontobel Financial Pro 15.5009/23/2022   EUR   59.100
Vontobel Financial Pro 15.5009/23/2022   EUR   67.260
Vontobel Financial Pro  9.50012/23/2022  EUR   74.420
Vontobel Financial Pro 12.0009/23/2022   EUR   70.550
Vontobel Financial Pro 15.50012/23/2022  EUR   67.730
Vontobel Financial Pro  9.5009/23/2022   EUR   74.380
Vontobel Financial Pro 18.50012/23/2022  EUR   71.900
Vontobel Financial Pro 19.0009/23/2022   EUR   71.810
Vontobel Financial Pro 17.0009/23/2022   EUR   73.780
Leonteq Securities AG/  9.84011/30/2022  USD   72.630
Leonteq Securities AG/ 11.36011/30/2022  USD   52.010
Vontobel Financial Pro  7.00012/23/2022  EUR   66.950
VTB Bank PJSC           0.01010/25/2024  RUB   62.590
Vontobel Financial Pro  9.00012/23/2022  EUR   70.780
Vontobel Financial Pro 10.50012/23/2022  EUR   68.830



                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Rousel Elaine T. Fernandez, Joy A. Agravante,
Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A. Chapman,
Editors.

Copyright 2022.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each.  For subscription information,
contact Peter Chapman at 215-945-7000.


                * * * End of Transmission * * *