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

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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
AVON PRODUCTS INC COM 54303102 2,060 257,917 SH   SOLE   257,917 0 0
CHINA XINIYA FASHION LTD ADR 16950W105 4,101 2,030,282 SH   SOLE   2,030,282 0 0
CHINA YUCHAI INTL LTD COM G21082105 49,622 2,513,797 SH   SOLE   2,513,797 0 0
COEUR MINING INC COM 192108504 6,889 1,462,706 SH   SOLE   1,462,706 0 0
MOBILE TELESYSTEMS OJC ADR 607409109 1,645 177,364 SH   SOLE   177,364 0 0
PETROLEO BRASILEIRO SA ADS 71654V408 5,487 913,110 SH   SOLE   913,110 0 0
RENESOLA LTD ADR 75971T103 5,011 3,409,039 SH   SOLE   3,409,039 0 0
TRINA SOLAR LTD-SPON ADR ADR 8962E8104 4,647 384,400 SH   SOLE   384,400 0 0
UTSTARCOM INC COM 918076100 28,363 10,703,312 SH   SOLE   10,703,312 0 0
VIMPELCOM LTD SPON ADR 92719A106 6,785 1,295,015 SH   SOLE   1,295,015 0 0