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
HDFC BANK LTD ADR REPS 3 SHS 40415F101 1,467 24,184 SH   SOLE   24,184 0 0
ISHARES U S ETF TR IT RT HDG HGYL 46431W606 381 4,251 SH   SOLE   4,251 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 272 12,800 SH   SOLE   12,800 0 0
DBX ETF TR DBXTR HAR CS 300 233051879 237 10,100 SH   SOLE   10,100 0 0
ISHARES INC MSCI JAPAN ETF NEW 46434G822 1,291 26,430 SH   SOLE   26,430 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 257 8,757 SH   SOLE   457 0 0
ISHARES MSCI AUST ETF 464286103 429 21,194 SH   SOLE   21,194 0 0
ISHARES MSCI CDA ETF 464286509 546 20,873 SH   SOLE   20,873 0 0
ISHARES MSCI EURZONE ETF 464286608 3,392 98,039 SH   SOLE   98,039 0 0
ISHARES MSCI BRZ CAP ETF 464286400 247 7,400 SH   SOLE   7,400 0 0
ISHARES TR MSCI INDONIA ETF 46429B309 1,050 43,519 SH   SOLE   601 0 0
ISHARES TR LATN AMER 40 ETF 464287390 267 9,681 SH   SOLE   9,681 0 0
ISHARES TR US TREASURY ETF 46429B267 4,192 168,166 SH   SOLE   168,166 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 1,584 28,836 SH   SOLE   28,836 0 0
ISHARES TR IBOXX HI YD ETF 464288513 345 3,982 SH   SOLE   3,982 0 0
ISHARES TR IBOXX INV CP ETF 464287242 260 2,217 SH   SOLE   2,217 0 0
ISHARES U S ETF TR COMMOD SEL STG 46431W853 227 6,611 SH   SOLE   6,611 0 0
PROSHARES TR INVT INT RT HG 74347B607 393 5,155 SH   SOLE   5,155 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 8,991 40,222 SH   SOLE   40,222 0 0
VANECK VECTORS ETF TR INDIA SMALL CAP 92189F767 296 7,257 SH   SOLE   7,257 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 235 4,735 SH   SOLE   4,735 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 380 6,626 SH   SOLE   6,626 0 0