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 EQUI COM 00301W105 96,988 13,885,137 SH   SOLE   13,885,137 0 0
ABERDEEN JAPAN EQUITY FUND INC COM 00306J109 4,007 453,491 SH   SOLE   453,491 0 0
ABERDEEN TOTAL DYNAMIC DIVIDEND COM SH BEN INT 00326L100 3,627 414,312 SH   SOLE   414,312 0 0
ADAMS DIVERSIFIED EQUITY FUND COM 006212104 2,109 136,721 SH   SOLE   136,721 0 0
ADAMS NATURAL RESOURCES FUND I COM 00548F105 3,177 158,118 SH   SOLE   158,118 0 0
ALLIANZGI NFJ DIVIDEND INTEREST COM 01883A107 606 48,021 SH   SOLE   48,021 0 0
APOLLO SENIOR FLOATING RATE FUND INC COM 037636107 302 18,512 SH   SOLE   18,512 0 0
ARES DYNAMIC CREDIT ALLOCATION FUND COM 04014F102 3,227 200,608 SH   SOLE   200,608 0 0
ASIA PACIFIC FUND COM 044901106 64,111 4,584,268 SH   SOLE   4,584,268 0 0
BLACKROCK ENHANCED EQUITY DIVIDEND TRUST COM 09251A104 279 30,426 SH   SOLE   30,426 0 0
BLACKROCK FLOATING RATE INCOME STRATEGY COM 09255X100 371 26,658 SH   SOLE   26,658 0 0
BLACKROCK MULTI-SECTOR INCOME TRUST COM 09258A107 481 28,151 SH   SOLE   28,151 0 0
BLACKROCK MUNIYIELD CALIFORNIA COM 09254N103 1,003 75,171 SH   SOLE   75,171 0 0
BLACKSTON/GSO STRATEGIC CREDIT FUND COM SHS BEN IN 09257R101 620 39,211 SH   SOLE   39,211 0 0
BROOKFIELD GLOBAL LISTED INFRASTRUCTURE COM SHS 11273Q109 5,039 416,074 SH   SOLE   416,074 0 0
CALAMOS STRAT TOT RETURN FD COM SH BEN INT 128125101 371 29,300 SH   SOLE   29,300 0 0
CENTRAL AND EASTERN EUROPE FUND COM 153436100 28,733 1,233,422 SH   SOLE   1,233,422 0 0
CHINA FUND INC. COM 169373107 90,356 4,335,711 SH   SOLE   4,335,711 0 0
CLEARBRIDGE AMERICAN ENERGY MLP FUND COM 184691103 3,026 402,166 SH   SOLE   402,166 0 0
COHEN & STEERS MLP INCOME & ENG OPP COM SHS 19249B106 7,937 792,499 SH   SOLE   792,499 0 0
CRESUD ADR SPONSORED ADR 226406106 918 61,968 SH   SOLE   61,968 0 0
EATON VANCE FLOATING RATE INCOME PLUS COM 278284104 378 22,764 SH   SOLE   22,764 0 0
EATON VANCE LIMITED DURATION INCOME FUND COM 27828H105 540 42,808 SH   SOLE   42,808 0 0
EATON VANCE RISK MANAGED DIV COM 27829G106 157 16,634 SH   SOLE   16,634 0 0
EATON VANCE SENIOR FLOATING-RATE FUND COM 27828Q105 685 47,664 SH   SOLE   47,664 0 0
EATON VANCE TAX-ADVANTAGED GLOBAL DIVIDE COM 27828S101 358 21,039 SH   SOLE   21,039 0 0
FIRST TRUST SENIOR FLOATING RATE INCOME COM 33733U108 194 15,125 SH   SOLE   15,125 0 0
FLAHERTY & CRUMRINE PREFERRED INCOME OPP COM 33848E106 606 56,400 SH   SOLE   56,400 0 0
FLAHERTY & CRUMRINE/CLAYMORE PREFERRED S COM 338478100 648 34,337 SH   SOLE   34,337 0 0
FLAHERTY & CRUMRINE/CLAYMORE TOTAL RETUR COM 338479108 468 24,159 SH   SOLE   24,159 0 0
GABELLI EQUITY TRUST COM 362397101 661 105,680 SH   SOLE   105,680 0 0
GABELLI HEALTHCARE AND WELLNESSRX TRUST SHS 36246K103 456 45,456 SH   SOLE   45,456 0 0
GENERAL AMERICAN INVESTORS COM 368802104 1,170 34,085 SH   SOLE   34,085 0 0
GLOBAL X FTSE ARGENTINA 20 ETF GB MSCI AR ETF 37950E259 10,382 385,000 SH   SOLE   385,000 0 0
GLOBAL X NIGERIA INDEX ETF GBL X MSCI NGR 37954Y665 4,936 227,800 SH   SOLE   227,800 0 0
GOLDMAN SACHS MLP INCOME OPP COM SHS 38147W103 724 80,380 SH   SOLE   80,380 0 0
GUGGENHEIM ENHANCED EQUITY INCOME FUND COM 40167B100 259 30,540 SH   SOLE   30,540 0 0
HERZFELD CARIBBEAN BASIN FUND COM 42804T106 3,226 488,000 SH   SOLE   488,000 0 0
HIGHLAND FLOATING RATE OPP SHS BEN INT 43010E404 3,852 247,312 SH   SOLE   247,312 0 0
INDIA FUND INC COM 454089103 47,194 1,942,536 SH   SOLE   1,942,536 0 0
INVESCO FRONTIER MARKETS ETF FRONTIER MKTS 46138E776 2,072 150,000 SH   SOLE   150,000 0 0
INVESCO SENIOR INCOME TRUST COM 46131H107 310 72,456 SH   SOLE   72,456 0 0
INVESCO VAN KAMPEN DYNAMIC CREDIT OPP COM 46132R104 5,075 436,577 SH   SOLE   436,577 0 0
IRSA INVERSIONES Y REPRESENTAC ADR GLOBAL DEP RCPT 450047204 1,391 80,235 SH   SOLE   80,235 0 0
ISHARES MSCI ARGENTINA AND GLO MSCI ARGENTINA 46435G276 3,447 151,000 SH   SOLE   151,000 0 0
ISHARES MSCI BRAZIL- US MSCI BRAZIL ETF 464286400 561 17,500 SH   SOLE   17,500 0 0
ISHARES MSCI CHINA ETF MSCI CHINA ETF 46429B671 1,408 21,800 SH   SOLE   21,800 0 0
ISHARES MSCI FRONTIER 100 ETF MSCI FRNTR100ETF 464286145 15,710 546,914 SH   SOLE   546,914 0 0
ISHARES MSCI JAPAN INDEX FUND MSCI JPN ETF NEW 46434G822 515 8,900 SH   SOLE   8,900 0 0
ISHARES MSCI KOREA MSCI STH KOR ETF 464286772 24,146 357,004 SH   SOLE   357,004 0 0
ISHARES MSCI MALAYSIA MSCI MLY ETF NEW 46434G814 1,232 39,537 SH   SOLE   39,537 0 0
JAPAN SMALLER CAPITALIZATION FUND, INC COM 47109U104 17,952 1,540,942 SH   SOLE   1,540,942 0 0
JOHN HANCOCK PREFERRED INCOME FUND III COM 41021P103 399 21,400 SH   SOLE   21,400 0 0
JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INC COM 41013V100 5,866 251,105 SH   SOLE   251,105 0 0
KKR INCOME OPPORTUNITIES FUND COM 48249T106 795 47,983 SH   SOLE   47,983 0 0
KOREA FUND COM NEW 500634209 76,224 1,996,164 SH   SOLE   1,996,164 0 0
LATIN AMERICAN DISCOVERY COM 51828C106 21,059 2,202,831 SH   SOLE   2,202,831 0 0
MEXICO EQUITY & INCOME FUND INC COM 592834105 30,249 2,921,206 SH   SOLE   2,921,206 0 0
MEXICO FUND COM 592835102 41,911 2,767,315 SH   SOLE   2,767,315 0 0
MS ASIA PACIFIC COM 61744U106 49,459 2,894,015 SH   SOLE   2,894,015 0 0
MS CHINA A SHARE COM 617468103 2,637 114,317 SH   SOLE   114,317 0 0
MS EMERGING MARKETS COM 61744G107 55,184 3,389,706 SH   SOLE   3,389,706 0 0
MS INDIA INVESTMENT COM 61745C105 83,425 3,216,702 SH   SOLE   3,216,702 0 0
MVC CAPITAL INC COM 553829102 2,483 261,259 SH   SOLE   261,259 0 0
NEUBERGER BERMAN MLP INCOME COM 64129H104 12,103 1,383,236 SH   SOLE   1,383,236 0 0
NEW GERMANY COM 644465106 8,814 483,064 SH   SOLE   483,064 0 0
NEW IRELAND FUND COM 645673104 338 28,978 SH   SOLE   28,978 0 0
NEXPOINT STRATEGIC OPPORTUNITI COM 65340G205 9,012 410,378 SH   SOLE   410,378 0 0
NUVEEN AMT-FREE MUNICIPAL INCOME FUND COM 670657105 7,263 558,021 SH   SOLE   558,021 0 0
NUVEEN CREDIT STRATEGIES INCOME FUND COM 67073D102 1,987 250,084 SH   SOLE   250,084 0 0
NUVEEN INTERMEDIATE DURATION MUNICIPAL T COM 670671106 1,820 146,516 SH   SOLE   146,516 0 0
NUVEEN NEW YORK AMT FREE QUALI COM 670656107 4,476 366,314 SH   SOLE   366,314 0 0
NUVEEN PREFERRED AND INCOME OPP COM 67073B106 860 92,100 SH   SOLE   92,100 0 0
NUVEEN PREFERRED SECURITIES COM 67072C105 7,837 888,094 SH   SOLE   888,094 0 0
NUVEEN QUALITY MUNICIPAL INCOME COM 67066V101 7,113 534,605 SH   SOLE   534,605 0 0
PIMCO DYNAMIC CREDIT INCOME COM SHS 72202D106 950 40,312 SH   SOLE   40,312 0 0
PIONEER DIVERSIFIED HIGH INCOME COM 723653101 146 10,000 SH   SOLE   10,000 0 0
PIONEER FLOATING RATE TRUST COM 72369J102 1,223 109,447 SH   SOLE   109,447 0 0
PIONEER MUNICIPAL HIGH INCOME COM SHS 723763108 3,955 345,238 SH   SOLE   345,238 0 0
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE COM 723762100 2,733 249,698 SH   SOLE   249,698 0 0
REAVES UTILITY INCOME FUND COM SH BEN INT 756158101 6,775 234,372 SH   SOLE   234,372 0 0
SPDR EURO STOXX 50 ETF EURO STOXX 50 78463X202 1,054 27,500 SH   SOLE   27,500 0 0
SPROTT FOCUS TRUST COM 85208J109 5,017 642,353 SH   SOLE   642,353 0 0
SWISS HELVETIA FUND INC COM 870875101 7,013 568,281 SH   SOLE   568,281 0 0
TAIWAN FUND COM 874036106 66,665 3,310,081 SH   SOLE   3,310,081 0 0
TEKLA HEALTHCARE INVESTORS SH BEN INT 87911J103 14,090 655,666 SH   SOLE   655,666 0 0
TEMPLETON DRAGON FUND COM 88018T101 207,412 9,735,348 SH   SOLE   9,735,348 0 0
TEMPLETON EMERGING MARKETS FD COM 880191101 8,351 567,688 SH   SOLE   567,688 0 0
THE EUROPEAN EQUITY FUND INC COM 298768102 1,663 178,390 SH   SOLE   178,390 0 0
VANECK VECTORS EGYPT INDEX ETF EGYPT INDX ETF 92189F775 1,702 47,199 SH   SOLE   47,199 0 0
VANECK VECTORS RUSSIA ETF RUSSIA ETF 92189F403 786 37,000 SH   SOLE   37,000 0 0
VANGUARD FTSE ALL WORLD EX-US ALLWRLD EX US 922042775 1,245 24,000 SH   SOLE   24,000 0 0
VOYA PRIME RATE TRUST SH BEN INT 92913A100 4,405 876,706 SH   SOLE   876,706 0 0
WA/CLAY US INFLATION-LINKED OPP&INC COM 95766R104 6,681 599,474 SH   SOLE   599,474 0 0
WA/CLAY US INFL-LKD SEC&INC COM SH BEN INT 95766Q106 1,579 138,447 SH   SOLE   138,447 0 0
WELLS FARGO ADVANTAGE MULTI-SECTOR INCOM COM SHS 94987D101 140 11,189 SH   SOLE   11,189 0 0
WESTERN ASSET HIGH YIELD DEFINED OPPORTU COM 95768B107 1,906 130,833 SH   SOLE   130,833 0 0