The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
HOMEINNS HOTEL GROUP SPONSORED ADR 43742E102 21,759 757,100 SH   DFND 1 757,100 0 0
ABENGOA YIELD PLC ORD G00349103 4,396 265,637 SH   DFND 1 265,637 0 0
NETEASE INC SPONSORED ADR 64110W102 32,085 267,105 SH   DFND 1 267,105 0 0
CHINA LODGING GROUP LTD SPONSORED ADR 16949N109 1,578 64,847 SH   DFND 1 64,847 0 0
BAIDU INC SPON ADR REP A 056752108 35,452 258,000 SH   DFND 1 258,000 0 0
SINA CORP ORD G81477104 979 24,395 SH   DFND 1 24,395 0 0
PANERA BREAD CO CL A 69840W108 561 2,900 SH   DFND 1 2,900 0 0
BOFI HLDG INC COM 05566U108 580 4,500 SH   DFND 1 4,500 0 0
PHOENIX NEW MEDIA LTD SPONSORED ADS 71910C103 6,206 1,417,000 SH   DFND 1 1,417,000 0 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 2,770 466,343 SH   DFND 1 466,343 0 0
JUPAI HLDGS LTD ADS 48205B107 675 75,000 SH   DFND 1 75,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 12,493 150,000 SH   DFND 1 150,000 0 0
QIHOO 360 TECHNOLOGY CO LTD ADS 74734M109 3,482 72,800 SH   DFND 1 72,800 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 2,661 24,900 SH   DFND 1 24,900 0 0
DISNEY WALT CO COM DISNEY 254687106 2,678 26,200 SH   DFND 1 26,200 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 613 10,400 SH   DFND 1 10,400 0 0