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 CHILE FUND INC COM 00301W105 1,143 164,382 SH   SOLE   164,382 0 0
ABERDEEN EMERGING MARKETS SMALLER CO OPP COM 00301T102 52,209 3,980,886 SH   SOLE   3,980,886 0 0
ABERDEEN GREATER CHINA FUND INC COM 003031101 35,584 3,390,540 SH   SOLE   3,390,540 0 0
ABERDEEN INDONESIA FUND INC COM 00305P106 25,504 3,530,034 SH   SOLE   3,530,034 0 0
ABERDEEN JAPAN EQUITY FUND INC COM 00306J109 2,953 371,439 SH   SOLE   371,439 0 0
ABERDEEN LATIN AMERICA EQUITY COM 00306K106 73,206 3,104,563 SH   SOLE   3,104,563 0 0
ABERDEEN SINGAPORE FUND INC COM 003244100 1,720 160,000 SH   SOLE   160,000 0 0
ADAMS DIVERSIFIED EQUITY FUND COM 006212104 2,978 216,810 SH   SOLE   216,810 0 0
ADAMS NATURAL RESOURCES FUND I COM 00548F105 236 12,158 SH   SOLE   12,158 0 0
ALLIANZGI NFJ DIVIDEND INTEREST COM 01883A107 189 14,704 SH   SOLE   14,704 0 0
ALPINE TOTAL DYNAMIC DIVIDEND FUND COM SH BEN INT N 021060207 5,857 705,275 SH   SOLE   705,275 0 0
ARES DYNAMIC CREDIT ALLOCATION FUND COM 04014F102 4,891 305,666 SH   SOLE   305,666 0 0
ASIA PACIFIC FUND COM 044901106 56,791 4,649,247 SH   SOLE   4,649,247 0 0
ASIA TIGERS FUND INC. COM 04516T105 12,717 1,121,406 SH   SOLE   1,121,406 0 0
BLACKROCK ENHANCED EQUITY DIVIDEND TRUST COM 09251A104 157 18,381 SH   SOLE   18,381 0 0
BLACKROCK INTERNATIONAL GROWTH COM BENE INTER 092524107 3,738 646,078 SH   SOLE   646,078 0 0
BLACKROCK MULTI-SECTOR INCOME TRUST COM 09258A107 1,818 104,968 SH   SOLE   104,968 0 0
BLACKROCK RESOURCES AND COMMODITIES SHS 09257A108 116 13,506 SH   SOLE   13,506 0 0
BLACKSTON/GSO STRATEGIC CREDIT FUND COM SHS BEN IN 09257R101 621 39,211 SH   SOLE   39,211 0 0
BLACKSTONE GSO LONG SHORT CREDIT INCOME COM SHS BN INT 09257D102 558 34,706 SH   SOLE   34,706 0 0
BROOKFIELD REAL ASSETS INCOME SHS BEN INT 112830104 366 16,071 SH   SOLE   16,071 0 0
CENTRAL FUND OF CANADA CL A 153501101 3,054 237,236 SH   SOLE   237,236 0 0
CHINA FUND INC. COM 169373107 63,041 3,788,511 SH   SOLE   3,788,511 0 0
CLEARBRIDGE AMERICAN ENERGY MLP FUND COM 184691103 3,189 321,831 SH   SOLE   321,831 0 0
COHEN & STEERS MLP INCOME & ENG OPP COM SHS 19249B106 2,584 230,574 SH   SOLE   230,574 0 0
DWS HIGH INCOME OPPORTUNITIES FUND INC COM 25158Y102 369 25,256 SH   SOLE   25,256 0 0
EATON VANCE FLOATING RATE INCOME PLUS COM 278284104 384 22,764 SH   SOLE   22,764 0 0
EATON VANCE MUNICIPAL BOND FUND COM 27827X101 3,070 244,901 SH   SOLE   244,901 0 0
EATON VANCE RISK MANAGED DIV COM 27829G106 151 16,634 SH   SOLE   16,634 0 0
FIRSTHAND TECHNOLOGY VALUE FUND INC COM 33766Y100 680 85,341 SH   SOLE   85,341 0 0
GABELLI EQUITY TRUST COM 362397101 162 27,133 SH   SOLE   27,133 0 0
GENERAL AMERICAN INVESTORS COM 368802104 3,919 116,920 SH   SOLE   116,920 0 0
GLOBAL X FTSE ARGENTINA 20 ETF GB MSCI AR ETF 37950E259 8,188 290,000 SH   SOLE   290,000 0 0
GLOBAL X MSCI PAKISTAN ETF MSCI PAKISTAN 37950E689 1,807 106,347 SH   SOLE   106,347 0 0
GLOBAL X NIGERIA INDEX ETF GBL X MSCI NGR 37954Y665 1,298 81,461 SH   SOLE   81,461 0 0
GOLDMAN SACHS MLP INCOME OPP COM SHS 38147W103 3,800 355,325 SH   SOLE   355,325 0 0
GUGGENHEIM ENHANCED EQUITY INCOME FUND COM 40167B100 173 21,440 SH   SOLE   21,440 0 0
GUGGENHEIM FRONTIER MARKETS ETF GUGG FRNTR MKT 18383Q838 2,853 222,393 SH   SOLE   222,393 0 0
HERZFELD CARIBBEAN BASIN FUND COM 42804T106 573 80,850 SH   SOLE   80,850 0 0
INDIA FUND INC COM 454089103 64,448 2,538,820 SH   SOLE   2,538,820 0 0
INVESCO ADVANTAGE MUNICIPAL INCOME SH BEN INT 46132E103 2,890 258,810 SH   SOLE   258,810 0 0
ISHARES MSCI BRAZIL- US MSCI BRZ CAP ETF 464286400 834 22,258 SH   SOLE   22,258 0 0
ISHARES MSCI FRONTIER 100 ETF MSCI FRNTR100ETF 464286145 7,497 270,000 SH   SOLE   270,000 0 0
ISHARES MSCI KOREA MSCI STH KOR ETF 464286772 1,145 18,500 SH   SOLE   18,500 0 0
JAPAN SMALLER CAPITALIZATION FUND, INC COM 47109U104 3,915 361,190 SH   SOLE   361,190 0 0
JPMORGAN CHINA REGION FUND INC COM 48126T104 28,305 1,545,882 SH   SOLE   1,545,882 0 0
KOREA EQUITY COM 50063B104 12,156 1,386,908 SH   SOLE   1,386,908 0 0
KOREA FUND COM NEW 500634209 90,445 2,452,757 SH   SOLE   2,452,757 0 0
LATIN AMERICAN DISCOVERY COM 51828C106 24,010 2,275,828 SH   SOLE   2,275,828 0 0
LIBERTY ALL STAR EQUITY FUND SH BEN INT 530158104 3,166 579,372 SH   SOLE   579,372 0 0
MEXICO EQUITY & INCOME FUND INC COM 592834105 32,703 2,996,193 SH   SOLE   2,996,193 0 0
MEXICO FUND COM 592835102 22,422 1,364,688 SH   SOLE   1,364,688 0 0
MS ASIA PACIFIC COM 61744U106 36,321 2,363,117 SH   SOLE   2,363,117 0 0
MS CHINA A SHARE COM 617468103 7,046 366,888 SH   SOLE   366,888 0 0
MS EMERGING MARKETS COM 61744G107 51,413 3,484,435 SH   SOLE   3,484,435 0 0
MS INDIA INVESTMENT COM 61745C105 139,145 4,419,414 SH   SOLE   4,419,414 0 0
MVC CAPITAL INC COM 553829102 719 80,000 SH   SOLE   80,000 0 0
NEUBERGER BERMAN REAL ESTATE SECURITIES COM 64190A103 2,825 533,463 SH   SOLE   533,463 0 0
NEXPOINT CREDIT STRATEGIES FUND COM 65340G205 1,110 48,467 SH   SOLE   48,467 0 0
NUVEEN CORE EQUITY ALPHA FUND INC COM 67090X107 186 13,371 SH   SOLE   13,371 0 0
NUVEEN CREDIT STRATEGIES INCOME FUND COM 67073D102 1,131 130,087 SH   SOLE   130,087 0 0
NUVEEN ENHANCED AMT FREE MUNICPAL CREDIT COM 67071L106 650 44,500 SH   SOLE   44,500 0 0
NUVEEN GLOBAL HIGH INCOME FUND SHS 67075G103 1,417 86,095 SH   SOLE   86,095 0 0
NUVEEN MORTGAGE OPPORTUNITY TERM FUND COM 670735109 1,452 58,635 SH   SOLE   58,635 0 0
NUVEEN MUNICIPAL VALUE FUND COM 670928100 1,730 177,210 SH   SOLE   177,210 0 0
NUVEEN PREFERRED SECURITIES COM 67072C105 112 11,749 SH   SOLE   11,749 0 0
PAMPA ENERGIA SA-SPON ADR SPONS ADR LVL I 697660207 1,464 27,000 SH   SOLE   27,000 0 0
PIMCO DYNAMIC CREDIT INCOME COM SHS 72202D106 3,603 167,772 SH   SOLE   167,772 0 0
PIONEER MUNICIPAL HIGH INCOME COM SHS 723763108 3,745 322,470 SH   SOLE   322,470 0 0
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE COM 723762100 2,749 250,395 SH   SOLE   250,395 0 0
SPROTT FOCUS TRUST COM 85208J109 5,478 739,276 SH   SOLE   739,276 0 0
TAIWAN FUND COM 874036106 63,497 3,481,208 SH   SOLE   3,481,208 0 0
TEMPLETON DRAGON FUND COM 88018T101 197,638 10,529,472 SH   SOLE   10,529,472 0 0
TEMPLETON EMERGING MARKETS FD COM 880191101 37,262 2,656,802 SH   SOLE   2,656,802 0 0
THAI FUND INC. COM 882904105 33,338 3,890,085 SH   SOLE   3,890,085 0 0
THE CENTRAL EUROPE RUSSIA AND TURKEY FUN COM 153436100 32,556 1,556,199 SH   SOLE   1,556,199 0 0
THE EUROPEAN EQUITY FUND INC COM 298768102 236 28,396 SH   SOLE   28,396 0 0
VANECK VECTORS EGYPT INDEX ETF EGYPT INDX ETF 92189F775 3,052 107,482 SH   SOLE   107,482 0 0
VOYA ASIA PACIFIC HIGH DIV FUND COM 92912J102 5,040 497,295 SH   SOLE   497,295 0 0
VOYA EMERGING MARKETS HIGH INC COM 92912P108 10,840 1,257,583 SH   SOLE   1,257,583 0 0
WA/CLAY US INFLATION-LINKED OPP&INC COM 95766R104 367 32,909 SH   SOLE   32,909 0 0
WELLS FARGO ADVANTAGE MULTI-SECTOR INCOM COM SHS 94987D101 2,239 167,854 SH   SOLE   167,854 0 0
WESTERN ASSET HIGH YIELD DEFINED OPPORTU COM 95768B107 2,211 144,086 SH   SOLE   144,086 0 0
WESTERN ASSET PREMIER BOND FUND SHS BEN INT 957664105 796 59,546 SH   SOLE   59,546 0 0