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 50,260 3,971,563 SH   SOLE   3,971,563 0 0
ABERDEEN GREATER CHINA FUND INC COM 003031101 29,765 3,269,096 SH   SOLE   3,269,096 0 0
ABERDEEN INDONESIA FUND INC COM 00305P106 21,697 3,280,015 SH   SOLE   3,280,015 0 0
ABERDEEN JAPAN EQUITY FUND INC COM 00306J109 2,924 356,401 SH   SOLE   356,401 0 0
ABERDEEN LATIN AMERICA EQUITY COM 00306K106 65,375 3,083,706 SH   SOLE   3,083,706 0 0
ADAMS DIVERSIFIED EQUITY FUND COM 006212104 2,647 201,539 SH   SOLE   201,539 0 0
ADAMS NATURAL RESOURCES FUND I COM 00548F105 4,307 215,893 SH   SOLE   215,893 0 0
APOLLO SENIOR FLOATING RATE FUND INC COM 037636107 421 24,823 SH   SOLE   24,823 0 0
ARES DYNAMIC CREDIT ALLOCATION FUND COM 04014F102 603 40,555 SH   SOLE   40,555 0 0
ASIA PACIFIC FUND COM 044901106 49,130 4,639,247 SH   SOLE   4,639,247 0 0
ASIA TIGERS FUND INC. COM 04516T105 11,592 1,150,541 SH   SOLE   1,150,541 0 0
BLACKROCK DEBT STRATEGIES FUND INC COM 09255R103 1,689 463,239 SH   SOLE   463,239 0 0
BLACKROCK FLOATING RATE INCOME STRATEGY COM 09255X100 400 28,807 SH   SOLE   28,807 0 0
BLACKROCK FLT RT INC COM 091941104 400 29,574 SH   SOLE   29,574 0 0
BLACKROCK INTERNATIONAL GROWTH COM BENE INTER 092524107 3,103 522,849 SH   SOLE   522,849 0 0
BLACKROCK MULTI-SECTOR INCOME TRUST COM 09258A107 3,059 179,153 SH   SOLE   179,153 0 0
BLACKROCK RESOURCES AND COMMODITIES STRA SHS 09257A108 2,044 250,674 SH   SOLE   250,674 0 0
BLACKSTON/GSO STRATEGIC CREDIT FUND COM SHS BEN IN 09257R101 586 39,211 SH   SOLE   39,211 0 0
BLACKSTONE GSO LONG SHORT CREDIT INCOME COM SHS BN INT 09257D102 2,976 191,537 SH   SOLE   191,537 0 0
BROOKFIELD MORTGAGE OPPORTUNITY INCOME F COM 112792106 2,735 182,081 SH   SOLE   182,081 0 0
CALAMOS CONVERTIBLE OPP AND INC FUND SH BEN INT 128117108 275 26,611 SH   SOLE   26,611 0 0
CENTRAL FUND OF CANADA CL A 153501101 1,202 86,734 SH   SOLE   86,734 0 0
CHINA FUND INC. COM 169373107 50,003 3,040,625 SH   SOLE   3,040,625 0 0
CLOUGH GLOBAL ALLOCATION FUND COM 18913Y103 1,218 100,540 SH   SOLE   100,540 0 0
CUSHING MLP TOTAL RETURN FUND COM SHS 231631201 1,414 108,280 SH   SOLE   108,280 0 0
DWS HIGH INCOME OPPORTUNITIES FUND INC COM 25158Y102 523 36,911 SH   SOLE   36,911 0 0
EATON VANCE FLOATING RATE INCOME PLUS COM 278284104 357 22,764 SH   SOLE   22,764 0 0
EATON VANCE SENIOR FLOATING-RATE FUND COM 27828Q105 425 30,030 SH   SOLE   30,030 0 0
FIRST TRUST/ABERDEEN EM OPPORTUNITY FUND COM 33731K102 7,914 521,176 SH   SOLE   521,176 0 0
FIRSTHAND TECHNOLOGY VALUE FUND INC COM 33766Y100 666 85,341 SH   SOLE   85,341 0 0
GABELLI DIV & INCOME TRUST COM 36242H104 193 10,045 SH   SOLE   10,045 0 0
GABELLI EQUITY TRUST COM 362397101 56 10,000 SH   SOLE   10,000 0 0
GENERAL AMERICAN INVESTORS COM 368802104 3,720 113,897 SH   SOLE   113,897 0 0
GLOBAL X FTSE ARGENTINA 20 ETF GB MSCI AR ETF 37950E259 5,725 240,000 SH   SOLE   240,000 0 0
GLOBAL X NIGERIA INDEX ETF GBL X MSCI NGR 37950E424 1,126 236,356 SH   SOLE   236,356 0 0
HERZFELD CARIBBEAN BASIN FUND COM 42804T106 628 100,000 SH   SOLE   100,000 0 0
INDIA FUND INC COM 454089103 50,607 2,035,665 SH   SOLE   2,035,665 0 0
ISHARES MSCI BRAZIL- US MSCI BRZ CAP ETF 464286400 27,236 808,067 SH   SOLE   808,067 0 0
ISHARES MSCI FRONTIER 100 ETF MSCI FRNTR100ETF 464286145 2,311 90,000 SH   SOLE   90,000 0 0
ISHARES MSCI KOREA MSCI STH KOR ETF 464286772 44,638 767,961 SH   SOLE   767,961 0 0
ISHARES MSCI TAIWAN MSCI TAIWAN 464286731 1,683 107,236 SH   SOLE   107,236 0 0
JAPAN SMALLER CAPITALIZATION FUND, INC COM 47109U104 3,769 357,063 SH   SOLE   357,063 0 0
JPMORGAN CHINA REGION FUND INC COM 48126T104 48,653 2,774,638 SH   SOLE   2,774,638 0 0
KOREA EQUITY COM 50063B104 35,409 4,117,359 SH   SOLE   4,117,359 0 0
KOREA FUND COM NEW 500634209 90,427 2,506,649 SH   SOLE   2,506,649 0 0
LATIN AMERICAN DISCOVERY COM 51828C106 24,759 2,463,564 SH   SOLE   2,463,564 0 0
LEGG MASON BW GLOBAL INCOME OPPORTUNITIE COM 52469B100 2,152 158,163 SH   SOLE   158,163 0 0
LIBERTY ALL STAR EQUITY FUND SH BEN INT 530158104 2,296 443,758 SH   SOLE   443,758 0 0
MACQUARIE GLOBAL INFRASTRUCTURE TOTAL RE COM 55608D101 873 40,054 SH   SOLE   40,054 0 0
MEXICO EQUITY & INCOME FUND INC COM 592834105 29,501 2,850,327 SH   SOLE   2,850,327 0 0
MEXICO FUND COM 592835102 16,700 1,050,667 SH   SOLE   1,050,667 0 0
MS ASIA PACIFIC COM 61744U106 30,362 2,017,423 SH   SOLE   2,017,423 0 0
MS CHINA A SHARE COM 617468103 3,483 186,333 SH   SOLE   186,333 0 0
MS EMERGING MARKETS COM 61744G107 46,056 3,170,816 SH   SOLE   3,170,816 0 0
MS INDIA INVESTMENT COM 61745C105 121,003 4,262,922 SH   SOLE   4,262,922 0 0
MVC CAPITAL INC COM 553829102 664 80,000 SH   SOLE   80,000 0 0
NEUBERGER BERMAN HIGH YIELD STRATEGIES F COM 64128C106 1,937 163,850 SH   SOLE   163,850 0 0
NEUBERGER BERMAN REAL ESTATE SECURITIES COM 64190A103 7,974 1,398,869 SH   SOLE   1,398,869 0 0
NEXPOINT CREDIT STRATEGIES FUND COM 65340G205 3,720 167,255 SH   SOLE   167,255 0 0
NUVEEN CREDIT STRATEGIES INCOME FUND COM 67073D102 2,313 272,652 SH   SOLE   272,652 0 0
NUVEEN GLOBAL HIGH INCOME FUND SHS 67075G103 1,122 71,392 SH   SOLE   71,392 0 0
NUVEEN MORTGAGE OPPORTUNITY TERM FUND COM 670735109 4,704 195,118 SH   SOLE   195,118 0 0
PAMPA ENERGIA SA-SPON ADR SPONS ADR LVL I 697660207 6,989 217,319 SH   SOLE   217,319 0 0
PIMCO DYNAMIC CREDIT INCOME COM SHS 72202D106 2,803 137,423 SH   SOLE   137,423 0 0
PIONEER FLOATING RATE TRUST COM 72369J102 318 27,017 SH   SOLE   27,017 0 0
SPROTT FOCUS TRUST COM 85208J109 4,351 631,909 SH   SOLE   631,909 0 0
TAIWAN FUND COM 874036106 54,570 3,148,890 SH   SOLE   3,148,890 0 0
TEMPLETON DRAGON FUND COM 88018T101 170,735 9,695,348 SH   SOLE   9,695,348 0 0
TEMPLETON EMERGING MARKETS FD COM 880191101 33,075 2,621,895 SH   SOLE   2,621,895 0 0
THAI FUND INC. COM 882904105 31,041 3,801,725 SH   SOLE   3,801,725 0 0
THE CENTRAL EUROPE RUSSIA AND TURKEY FUN COM 153436100 28,489 1,490,402 SH   SOLE   1,490,402 0 0
THL CREDIT SENIOR LOAN FUND COM 87244R103 313 18,969 SH   SOLE   18,969 0 0
TORTOISE PIPELINE & ENERGY FUND INC COM 89148H108 1,661 78,477 SH   SOLE   78,477 0 0
TURKISH INVESTMENT FUND INC. COM 900145103 6,324 784,129 SH   SOLE   784,129 0 0
VOYA ASIA PACIFIC HIGH DIV FUND COM 92912J102 8,131 826,368 SH   SOLE   826,368 0 0
VOYA EMERGING MARKETS HIGH INC COM 92912P108 20,590 2,515,538 SH   SOLE   2,515,538 0 0
WA/CLAY US INFLATION-LINKED OPP&INC COM 95766R104 2,749 245,410 SH   SOLE   245,410 0 0
WELLS FARGO ADVANTAGE MULTI-SECTOR INCOM COM SHS 94987D101 428 32,920 SH   SOLE   32,920 0 0
WESTERN ASSET CORPORATE LOAN COM 95790J102 244 22,776 SH   SOLE   22,776 0 0
WESTERN ASSET HIGH INCOME OPPORTUNITY FU COM 95766K109 723 143,589 SH   SOLE   143,589 0 0
WESTERN ASSET HIGH YIELD DEFINED OPPORTU COM 95768B107 1,718 111,654 SH   SOLE   111,654 0 0
ZWEIG FUND INC COM NEW 989834205 779 60,132 SH   SOLE   60,132 0 0