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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
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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
AMERISOURCEBERGEN CORP USD0.01 USD 03073E105 1,386 22,686 SH   SOLE   22,686 0 0
DR PEPPER SNAPPLE GRP USD0.01 USD 26138E109 1,420 31,680 SH   SOLE   31,680 0 0
DUN & BRADSTREET CORP USD0.01 USD 26483E100 433 4,170 SH   SOLE   4,170 0 0
EDWARDS LIFESCIENCES CORP USD1 USD 28176E108 850 12,200 SH   SOLE   12,200 0 0
GRUPO AEROPORTUARIO SUR-ADR NP USD 400501102 667,846 6,128,396 SH   SOLE   6,128,396 0 0
NOVOLIPETSK STEEL GDR EACH REP USD C64387100 4,044 248,874 SH   SOLE   248,874 0 0
PETROCHINA 1 ADS REP 100 H SHS USD 71646E100 8,621 73,700 SH   SOLE   73,700 0 0
QUANTA SERV COM USD0.00001 USD 74762E102 545 19,800 SH   SOLE   19,800 0 0
TARGET CORP USD0.0833 USD 87612E106 74,622 1,145,652 SH   SOLE   1,145,652 0 0
TOTAL 1 ADR REP 1 ORD SHS EUR1 USD 89151E109 307 5,300 SH   SOLE   5,300 0 0
TRAVELERS COS NPV USD 89417E109 3,332 39,311 SH   SOLE   39,311 0 0
ULTRATECH CEMENT REG S GDR NPV USD 904034105 26,949 939,808 SH   SOLE   939,808 0 0
URALKALIY 1 GDR REP 5 ORD RUB0 USD C643Z9C00 1,495 57,500 SH   SOLE   57,500 0 0
VALE ADR NPV USD 91912E105 1,484,338 95,110,304 SH   SOLE   95,110,304 0 0
VALE PREF ADR NPV USD 91912E204 1,418,646 99,876,653 SH   SOLE   99,876,653 0 0
VERISIGN USD0.001 USD 92343E102 718 14,110 SH   SOLE   14,110 0 0
X5 RETAIL GRP 1 GDR REP 0.25 S USD C643TL900 5,053 305,145 SH   SOLE   305,145 0 0