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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
ISHARES TR MSCI INDIA ETF 46429B598 1,206 44,478 SH   DFND   44,478 0 0
ISHARES INC MSCI HONG KG ETF 464286871 267 13,511 SH   DFND   13,511 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 11,778 149,155 SH   DFND   149,155 0 0
BAIDU INC SPON ADR REP A 056752108 5,347 28,161 SH   DFND   28,161 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 75,437 1,380,630 SH   DFND   1,380,630 0 0
SPDR SERIES TRUST S&P DIVID ETF 78464A763 2,074 25,950 SH   DFND   25,950 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,799 8,750 SH   DFND   8,750 0 0