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
AEGEAN MARINE PETROLEUM COM Y0017S102 3,246 319,899 SH   SOLE   319,899 0 0
AVON PRODUCTS INC COM 054303102 15,564 3,088,104 SH   SOLE   3,088,104 0 0
CAMECO CORP COM 13321L108 6,981 666,800 SH   SOLE   666,800 0 0
CHINA UNICOM ADR 16945R104 972 84,200 SH   SOLE   84,200 0 0
CHINA XINIYA FASHION LTD ADR 16950W105 3,743 2,857,774 SH   SOLE   2,857,774 0 0
CHINA YUCHAI INTL LTD COM G21082105 47,180 3,416,382 SH   SOLE   3,416,382 0 0
COEUR MINING INC COM 192108504 15,042 1,654,833 SH   SOLE   1,654,833 0 0
CREDIT SUISSE GROUP ADR 225401108 6,808 475,800 SH   SOLE   475,800 0 0
DEUTSCHE BANK AG ORD NPV COM D18190898 10,289 568,500 SH   SOLE   568,500 0 0
GENWORTH FINANCIAL INC COM 37247D106 20,157 5,290,600 SH   SOLE   5,290,600 0 0
GOL LINHAS AEREAS INTEL ADR 38045R107 3,473 255,000 SH   SOLE   250,000 0 0
JA SOLAR HOLDINGS CO LTD ADR 466090206 5,436 1,142,110 SH   SOLE   1,142,110 0 0
MOBILE TELESYSTEMS OJC ADR 607409109 1,179 129,442 SH   SOLE   129,442 0 0
PETROLEO BRASILEIRO SA ADS 71654V408 6,128 606,193 SH   SOLE   606,193 0 0
RENESOLA LTD ADR 75971T103 4,689 7,331,014 SH   SOLE   7,331,014 0 0
SEADRILL LIMITED SHS COM G7945E105 8,792 2,578,500 SH   SOLE   2,578,500 0 0
UTSTARCOM INC COM 918076100 15,100 7,550,000 SH   SOLE   7,550,000 0 0
VIMPELCOM LTD SPON ADR 92719A106 12,171 3,161,435 SH   SOLE   3,161,435 0 0