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
ABERDEEN EMERGING MARKETS SMALLER CO OPP COM 00301T102 48,552 4,000,963 SH   SOLE   4,000,963 0 0
ABERDEEN GREATER CHINA FUND INC COM 003031101 26,890 3,214,533 SH   SOLE   3,214,533 0 0
ABERDEEN INDONESIA FUND INC COM 00305P106 20,013 3,259,492 SH   SOLE   3,259,492 0 0
ABERDEEN JAPAN EQUITY FUND INC COM 00306J109 2,868 373,726 SH   SOLE   373,726 0 0
ABERDEEN LATIN AMERICA EQUITY COM 00306K106 60,743 3,025,047 SH   SOLE   3,025,047 0 0
ADAMS DIVERSIFIED EQUITY FUND COM 006212104 2,215 174,739 SH   SOLE   174,739 0 0
ADAMS NATURAL RESOURCES FUND I COM 00548F105 4,893 243,491 SH   SOLE   243,491 0 0
APOLLO SENIOR FLOATING RATE FUND INC COM 037636107 392 24,823 SH   SOLE   24,823 0 0
ASIA PACIFIC FUND COM 044901106 44,537 4,567,858 SH   SOLE   4,567,858 0 0
ASIA TIGERS FUND INC. COM 04516T105 10,737 1,125,513 SH   SOLE   1,125,513 0 0
BLACKROCK DEBT STRATEGIES FUND INC COM 09255R103 3,739 1,057,756 SH   SOLE   1,057,756 0 0
BLACKROCK FLOATING RATE INCOME STRATEGY COM 09255X100 379 28,807 SH   SOLE   28,807 0 0
BLACKROCK FLT RT INC COM 091941104 383 29,574 SH   SOLE   29,574 0 0
BLACKROCK INTERNATIONAL GROWTH COM BENE INTER 092524107 436 75,900 SH   SOLE   75,900 0 0
BLACKROCK MULTI-SECTOR INCOME TRUST COM 09258A107 2,964 179,153 SH   SOLE   179,153 0 0
BLACKROCK RESOURCES AND COMMODITIES STRA SHS 09257A108 1,929 250,674 SH   SOLE   250,674 0 0
BLACKSTON/GSO STRATEGIC CREDIT FUND COM SHS BEN IN 09257R101 564 39,211 SH   SOLE   39,211 0 0
BLACKSTONE GSO LONG SHORT CREDIT INCOME COM SHS BN INT 09257D102 3,285 227,481 SH   SOLE   227,481 0 0
BROOKFIELD MORTGAGE OPPORTUNITY INCOME F COM 112792106 3,217 215,979 SH   SOLE   215,979 0 0
CALAMOS CONVERTIBLE OPP AND INC FUND SH BEN INT 128117108 3,164 321,527 SH   SOLE   321,527 0 0
CENTRAL FUND OF CANADA CL A 153501101 5,770 415,876 SH   SOLE   415,876 0 0
CHINA FUND INC. COM 169373107 40,462 2,800,117 SH   SOLE   2,800,117 0 0
CLOUGH GLOBAL ALLOCATION FUND COM 18913Y103 1,177 100,540 SH   SOLE   100,540 0 0
CUSHING MLP TOTAL RETURN FUND COM SHS 231631102 1,329 108,280 SH   SOLE   108,280 0 0
EATON VANCE FLOATING RATE INCOME PLUS COM 278279104 341 22,764 SH   SOLE   22,764 0 0
EATON VANCE SENIOR FLOATING-RATE FUND COM 27828Q105 393 30,030 SH   SOLE   30,030 0 0
FIRST TRUST/ABERDEEN EM OPPORTUNITY FUND COM 33731K102 13,552 925,695 SH   SOLE   925,695 0 0
FIRSTHAND TECHNOLOGY VALUE FUND INC COM 33766Y100 635 85,341 SH   SOLE   85,341 0 0
GABELLI DIV & INCOME TRUST COM 36242H104 590 30,850 SH   SOLE   30,850 0 0
GABELLI EQUITY TRUST COM 362397101 55 10,000 SH   SOLE   10,000 0 0
GENERAL AMERICAN INVESTORS COM 368802104 2,524 81,897 SH   SOLE   81,897 0 0
GLOBAL X FTSE ARGENTINA 20 ETF GB MSCI AR ETF 37950E259 6,571 295,000 SH   SOLE   295,000 0 0
GLOBAL X NIGERIA INDEX ETF GBL X MSCI NGR 37950E424 739 136,356 SH   SOLE   136,356 0 0
INDIA FUND INC COM 454089103 42,293 1,739,393 SH   SOLE   1,739,393 0 0
ISHARES MSCI BRAZIL- US MSCI BRZ CAP ETF 464286400 30,418 1,009,067 SH   SOLE   1,009,067 0 0
ISHARES MSCI FRONTIER 100 ETF MSCI FRNTR100ETF 464286145 246 10,000 SH   SOLE   10,000 0 0
ISHARES MSCI KOREA MSCI STH KOR ETF 464286772 46,883 900,461 SH   SOLE   900,461 0 0
ISHARES MSCI TAIWAN MSCI TAIWAN 464286731 6,100 433,976 SH   SOLE   433,976 0 0
JAPAN SMALLER CAPITALIZATION FUND, INC COM 47109U104 1,165 118,966 SH   SOLE   118,966 0 0
JPMORGAN CHINA REGION FUND INC COM 48126T104 41,897 2,774,638 SH   SOLE   2,774,638 0 0
KOREA EQUITY COM 50063B104 32,342 4,117,359 SH   SOLE   4,117,359 0 0
KOREA FUND COM NEW 500634209 76,829 2,376,771 SH   SOLE   2,376,771 0 0
LATIN AMERICAN DISCOVERY COM 51828C106 23,022 2,494,295 SH   SOLE   2,494,295 0 0
LEGG MASON BW GLOBAL INCOME OPPORTUNITIE COM 52469B100 3,112 240,065 SH   SOLE   240,065 0 0
LIBERTY ALL STAR EQUITY FUND SH BEN INT 530158104 2,183 435,258 SH   SOLE   435,258 0 0
MACQUARIE GLOBAL INFRASTRUCTURE TOTAL RE COM 55608D101 1,391 64,976 SH   SOLE   64,976 0 0
MEXICO EQUITY & INCOME FUND INC COM 592834105 28,993 2,651,388 SH   SOLE   2,651,388 0 0
MEXICO FUND COM 592835102 14,766 883,387 SH   SOLE   883,387 0 0
MS ASIA PACIFIC COM 61744U106 28,555 2,071,478 SH   SOLE   2,071,478 0 0
MS CHINA A SHARE COM 617468103 2,742 153,178 SH   SOLE   153,178 0 0
MS EMERGING MARKETS COM 61744G107 40,492 3,046,782 SH   SOLE   3,046,782 0 0
MS INDIA INVESTMENT COM 61745C105 112,872 4,234,560 SH   SOLE   4,234,560 0 0
MVC CAPITAL INC COM 553829102 643 80,000 SH   SOLE   80,000 0 0
NEUBERGER BERMAN HIGH YIELD STRATEGIES F COM 64128C106 2,983 272,800 SH   SOLE   272,800 0 0
NEUBERGER BERMAN REAL ESTATE SECURITIES COM 64190A103 9,504 1,674,646 SH   SOLE   1,674,646 0 0
NEW AMERICA HIGH INCOME FUND COM NEW 641876800 1,108 129,196 SH   SOLE   129,196 0 0
NEXPOINT CREDIT STRATEGIES FUND COM 65340G106 3,612 169,291 SH   SOLE   169,291 0 0
NUVEEN CREDIT STRATEGIES INCOME FUND COM 67073D102 2,669 330,578 SH   SOLE   330,578 0 0
NUVEEN GLOBAL HIGH INCOME FUND SHS 67075G103 782 54,348 SH   SOLE   54,348 0 0
NUVEEN MORTGAGE OPPORTUNITY TERM FUND COM 670735109 5,175 224,069 SH   SOLE   224,069 0 0
PAMPA ENERGIA SA-SPON ADR SPONS ADR LVL I 697660207 6,506 238,000 SH   SOLE   238,000 0 0
PIMCO DYNAMIC CREDIT INCOME COM SHS 72202D106 5,226 273,395 SH   SOLE   273,395 0 0
PIONEER FLOATING RATE TRUST COM 72369J102 305 27,017 SH   SOLE   27,017 0 0
SPROTT FOCUS TRUST COM 85208J109 4,519 705,563 SH   SOLE   705,563 0 0
TAIWAN FUND COM 874036106 46,554 3,054,698 SH   SOLE   3,054,698 0 0
TEMPLETON DRAGON FUND COM 88018T101 165,456 9,539,129 SH   SOLE   9,539,129 0 0
TEMPLETON EMERGING MARKETS FD COM 880191101 38,440 3,373,430 SH   SOLE   3,373,430 0 0
THAI FUND INC. COM 882904105 30,692 3,882,564 SH   SOLE   3,882,564 0 0
THE CENTRAL EUROPE RUSSIA AND TURKEY FUN COM 153436100 28,609 1,568,464 SH   SOLE   1,568,464 0 0
THL CREDIT SENIOR LOAN FUND COM 87244R103 305 18,969 SH   SOLE   18,969 0 0
TORTOISE PIPELINE & ENERGY FUND INC COM 89148H108 1,876 100,768 SH   SOLE   100,768 0 0
TURKISH INVESTMENT FUND INC. COM 900145103 7,324 854,651 SH   SOLE   854,651 0 0
VOYA ASIA PACIFIC HIGH DIV FUND COM 92912J102 9,379 1,057,963 SH   SOLE   1,057,963 0 0
VOYA EMERGING MARKETS HIGH INC COM 92912P108 23,584 3,202,129 SH   SOLE   3,202,129 0 0
WA/CLAY US INFLATION-LINKED OPP&INC COM 95766R104 3,358 302,112 SH   SOLE   302,112 0 0
WELLS FARGO ADVANTAGE MULTI-SECTOR INCOM COM SHS 94987D101 416 32,920 SH   SOLE   32,920 0 0
WESTERN ASSET CORPORATE LOAN COM 95790J102 236 22,776 SH   SOLE   22,776 0 0
WESTERN ASSET HIGH INCOME OPPORTUNITY FU COM 95766K109 1,126 230,050 SH   SOLE   230,050 0 0
WESTERN ASSET HIGH YIELD DEFINED OPPORTU COM 95768B107 1,673 111,654 SH   SOLE   111,654 0 0
ZWEIG FUND INC COM NEW 989834205 758 60,132 SH   SOLE   60,132 0 0