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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
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
ISHARES TR MSCI EMERG MKT 464287234 26,923 644,175 SH   DFND 1 0 0 644,175
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 2,984 171,100 SH   DFND 1 0 0 171,100
VALE S A ADR REPSTG PFD 91912E204 4,763 340,000 SH   DFND 1 0 0 340,000