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
Vanguard ETF/USA VANGUARD REIT ETF 922908553 20,669 312,500 SH   SOLE   312,500 0 0
iShares/USA ISHARES MSCI BRAZIL CAPPED E 464286400 124,743 2,603,700 SH   SOLE   2,603,700 0 0
iShares/USA ISHARES IBOXX INVESTMENT GRA 464287242 4,700 41,400 SH   SOLE   41,400 0 0
iShares/USA ISHARES IBOXX HIGH YIELD COR 464288513 16,631 181,600 SH   SOLE   181,600 0 0
Van Eck ETF/USA MARKET VECTORS RUSSIA ETF 57060U506 12,949 459,500 SH   SOLE   459,500 0 0
Van Eck ETF/USA MARKET VECTORS INDONESIA IND 57060U753 1,693 73,800 SH   SOLE   73,800 0 0
iShares/USA ISHARES MSCI MEXICO CAPPED 464286822 17,408 272,464 SH   SOLE   272,464 0 0