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
ISHARES TR MSCI INDIA ETF 46429B598 1,397 43,535 SH   DFND   43,535 0 0
ISHARES INC MSCI HONG KG ETF 464286871 5,326 227,300 SH   DFND   227,300 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 229,121 1,625,988 SH   DFND   1,625,988 0 0
BAIDU INC SPON ADR REP A 056752108 50,222 280,750 SH   DFND   280,750 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 17,768 329,967 SH   DFND   329,967 0 0
ISHARES TR INDIA 50 ETF 464289529 120,964 3,601,202 SH   DFND   3,601,202 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 49,261 203,762 SH   DFND   203,762 0 0
ZTO EXPRESS CAYMAN INC SPONSORED ADR 98980A105 11,559 828,000 SH   DFND   828,000 0 0
ISHARES TR MSCI EAFE ETF 464287465 1,826 28,000 SH   DFND   28,000 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 4,641 68,800 SH   DFND   68,800 0 0