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
JD.COM INC ADR ADR 47215P106 226 2,676 SH   DFND   0 0 2,676
MERCADOLIBRE INC COMMON STOCK 58733R102 246 167 SH   DFND   0 0 167
NEW ORIENTAL EDUCATIO SP ADR ADR 647581107 179 12,770 SH   DFND   0 0 12,770
ALIBABA GROUP HOLDING SPONSORED ADS 01609W102 245 1,079 SH   DFND   0 0 1,079
BAIDU INC SPON ADR REP A 056752108 226 1,041 SH   DFND   0 0 1,041
HDFC BANK LTD ADR 40415F101 236 3,044 SH   DFND   0 0 3,044
INFOSYS LTD SPONSORED ADR 456788108 264 14,100 SH   DFND   0 0 14,100
NETEASE INC SPONSORED ADS 64110W102 219 2,122 SH   DFND   0 0 2,122
TAIWAN SEMICONDUCTOR SPONSORED ADR 874039100 255 2,158 SH   DFND   0 0 2,158
VALE S A SPONSORED ADS 91912E105 240 13,800 SH   DFND   0 0 13,800