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
AUTONAVI HOLDINGS LTD ADR COM 05330F106 1,796 89,600 SH   SOLE   89,600 0 0
CTRIP.COM INTERNATIONAL ADR COM 22943F100 2,495 49,500 SH   SOLE   49,500 0 0
ISHARES MSCI BRAZIL COM 464286400 11,049 245,439 SH   SOLE   245,439 0 0
ISHARES MSCI FRONTIER 100 ETF COM 464286145 15,467 426,700 SH   SOLE   426,700 0 0
ISHARES MSCI MEXICO INVESTAB COM 464286822 44,890 687,058 SH   SOLE   687,058 0 0
ISHARES MSCI POLAND CAPPED ETF COM 46429B606 4,988 166,000 SH   SOLE   166,000 0 0
ISHARES MSCI TAIWAN INDEX FD COM 464286731 147,041 9,576,201 SH   SOLE   9,576,201 0 0
MARKET VECTORS RUSSIA ETF COM 57060U506 4,153 173,200 SH   SOLE   173,200 0 0
PERFECT WORLD CO SPON ADR COM 71372U104 620 30,000 SH   SOLE   30,000 0 0
QIHOO 360 TECHNOLOGY CO ADR COM 74734M109 1,085 10,900 SH   SOLE   10,900 0 0
SOUFUN HOLDINGS LTD ADR COM 836034108 349 5,100 SH   SOLE   5,100 0 0
VANGUARD FTSE EUROPE ETF COM 922042874 2,501 42,850 SH   SOLE   42,850 0 0
VIPSHOP HOLDINGS LTD ADS COM 92763W103 5,673 38,000 SH   SOLE   38,000 0 0
WISDOMTREE INDIA EARNINGS FUND COM 97717W422 516 27,240 SH   SOLE   27,240 0 0
YY INC ADR COM 98426T106 4,452 58,300 SH   SOLE   58,300 0 0