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
ACCENTURE PLC CL A COMMON STOCK B4BNMY3 1,156 10,200 SH   DFND 1,2 10,200 0 0
AES CORP (THE) COMMON STOCK 00130H105 32,312 2,589,100 SH   DFND 1,2 2,589,100 0 0
AGIOS PHARMACEUTICALS INC COMMON STOCK 00847X104 2,727 65,100 SH   DFND 1,2 65,100 0 0
ALIBABA GROUP HOLDING LTD ADR COMMON STOCK 01609W102 35,224 442,900 SH   DFND 1,2 442,900 0 0
ALPHABET INC CL A COMMON STOCK 02079K305 3,866 5,495 SH   DFND 1,2 5,495 0 0
ALPHABET INC CL C COMMON STOCK 02079K107 6,370 9,204 SH   DFND 1,2 9,204 0 0
AMAZON.COM INC COMMON STOCK 023135106 7,872 11,000 SH   DFND 1,2 11,000 0 0
AMERICA MOVIL SAB DE CV L ADR COMMON STOCK 02364W105 49,579 4,043,932 SH   DFND 1,2 4,043,932 0 0
AMERICAN TOWER CORP (REIT) COMMON STOCK 03027X100 4,460 39,259 SH   DFND 1,2 39,259 0 0
ANADARKO PETROLEUM CORP COMMON STOCK 032511107 980 18,400 SH   DFND 1,2 18,400 0 0
AON PLC CL A COMMON STOCK B5BT0K0 1,376 12,600 SH   DFND 1,2 12,600 0 0
APPLE INC COMMON STOCK 037833100 3,575 37,392 SH   DFND 1,2 37,392 0 0
ARCOS DORADOS HOLDINGS INC CL A COMMON STOCK B529PQ0 2,282 478,432 SH   DFND 1,2 478,432 0 0
ARTHUR J GALLAGHER & CO COMMON STOCK 363576109 190 4,000 SH   DFND 1,2 4,000 0 0
ASML HOLDING NV (USD) COMMON STOCK B908F01 879 8,864 SH   DFND 1,2 8,864 0 0
ASTRAZENECA PLC ADR COMMON STOCK 046353108 414 13,700 SH   DFND 1,2 13,700 0 0
BANCO BRADESCO SA PN ADR COMMON STOCK 059460303 31,865 4,079,998 SH   DFND 1,2 4,079,998 0 0
BRF SA ON ADR COMMON STOCK 10552T107 3,209 230,400 SH   DFND 1,2 230,400 0 0
BROADCOM LTD COMMON STOCK BD9WQP4 1,229 7,909 SH   DFND 1,2 7,909 0 0
CANADIAN NATIONAL RAILWAY CO (USD) COMMON STOCK 136375102 2,994 50,700 SH   DFND 1,2 50,700 0 0
CANADIAN NATURAL RESOURCES LTD COMMON STOCK 136385101 1,565 51,000 SH   DFND 1,2 51,000 0 0
CBS CORP CL B N/V COMMON STOCK 124857202 2,047 37,600 SH   DFND 1,2 37,600 0 0
CEMEX SAB DE CV CPO UNIT ADR (2 A SHRS + 1 B SHR) COMMON STOCK 151290889 55,025 8,918,120 SH   DFND 1,2 8,918,120 0 0
CENOVUS ENERGY INC COMMON STOCK 15135U109 384 27,900 SH   DFND 1,2 27,900 0 0
CENTURYLINK INC COMMON STOCK 156700106 41 1,400 SH   DFND 1,2 1,400 0 0
CERNER CORPORATION COMMON STOCK 156782104 3,340 57,000 SH   DFND 1,2 57,000 0 0
CHEVRON CORP COMMON STOCK 166764100 2,664 25,416 SH   DFND 1,2 25,416 0 0
CHUBB LTD COMMON STOCK B3BQMF6 1,686 12,900 SH   DFND 1,2 12,900 0 0
CIT GROUP INC COMMON STOCK 125581801 3,382 106,000 SH   DFND 1,2 106,000 0 0
CME GROUP INC CL A COMMON STOCK 12572Q105 9,317 95,660 SH   DFND 1,2 95,660 0 0
COBALT INTERNATIONAL ENERGY INC COMMON STOCK 19075F106 3,934 2,935,793 SH   DFND 1,2 2,935,793 0 0
COBALT INTL ENERGY INC CV SR UNSEC 2.625% 12-01-19 CORP CONV BOND 19075FAA4 58 153,000 PRN   DFND 1,2 153,000 0 0
COBALT INTL ENERGY INC CV SR UNSEC 3.125% 05-15-24 CORP CONV BOND 19075FAB2 465 1,367,000 PRN   DFND 1,2 1,367,000 0 0
COCA-COLA CO COMMON STOCK 191216100 2,797 61,700 SH   DFND 1,2 61,700 0 0
COGNIZANT TECHNOLOGY SOLUTIONS CORP CL A COMMON STOCK 192446102 595 10,400 SH   DFND 1,2 10,400 0 0
COMCAST CORP CL A COMMON STOCK 20030N101 2,803 43,000 SH   DFND 1,2 43,000 0 0
CONOCOPHILLIPS COMMON STOCK 20825C104 4,055 93,000 SH   DFND 1,2 93,000 0 0
CORE LABORATORIES COMMON STOCK 2182531 6,808 54,952 SH   DFND 1,2 54,952 0 0
COVANTA HOLDING CORP COMMON STOCK 22282E102 94 5,700 SH   DFND 1,2 5,700 0 0
CREDICORP LTD COMMON STOCK 2232878 17,197 111,428 SH   DFND 1,2 111,428 0 0
CROWN CASTLE INTL CORP (REIT) COMMON STOCK 22822V101 193 1,900 SH   DFND 1,2 1,900 0 0
CTRIP.COM INTL ADR COMMON STOCK 22943F100 8,378 203,346 SH   DFND 1,2 203,346 0 0
DANAHER CORP COMMON STOCK 235851102 6,929 68,600 SH   DFND 1,2 68,600 0 0
DAVITA HEALTHCARE PARTNERS INC COMMON STOCK 23918K108 1,361 17,600 SH   DFND 1,2 17,600 0 0
DOW CHEMICAL CO COMMON STOCK 260543103 169 3,400 SH   DFND 1,2 3,400 0 0
EATON CORP PLC COMMON STOCK B8KQN82 5,453 91,300 SH   DFND 1,2 91,300 0 0
ELI LILLY AND CO COMMON STOCK 532457108 3,719 47,225 SH   DFND 1,2 47,225 0 0
ENBRIDGE INC COMMON STOCK 29250N105 4,994 118,500 SH   DFND 1,2 118,500 0 0
ENERSIS AMERICAS SA ADR COMMON STOCK 29274F104 15,323 1,785,864 SH   DFND 1,2 1,785,864 0 0
ENERSIS CHILE SA ADR COMMON STOCK 29278D105 10,436 1,790,064 SH   DFND 1,2 1,790,064 0 0
ENSCO PLC CL A COMMON STOCK B4VLR19 220 22,700 SH   DFND 1,2 22,700 0 0
EOG RESOURCES INC COMMON STOCK 26875P101 3,283 39,350 SH   DFND 1,2 39,350 0 0
EXXON MOBIL CORP COMMON STOCK 30231G102 3,309 35,300 SH   DFND 1,2 35,300 0 0
FREEPORT-MCMORAN INC COMMON STOCK 35671D857 1,034 92,800 SH   DFND 1,2 92,800 0 0
GENERAL ELECTRIC CO COMMON STOCK 369604103 31 1,000 SH   DFND 1,2 1,000 0 0
GERDAU SA PN ADR COMMON STOCK 373737105 1,840 1,011,200 SH   DFND 1,2 1,011,200 0 0
GILEAD SCIENCES INC COMMON STOCK 375558103 3,687 44,200 SH   DFND 1,2 44,200 0 0
GOLAR LNG LTD (USD) COMMON STOCK 2367963 2,043 131,800 SH   DFND 1,2 131,800 0 0
GOLDMAN SACHS GROUP INC COMMON STOCK 38141G104 6,983 46,995 SH   DFND 1,2 46,995 0 0
GRANA Y MONTERO SAA ADR COMMON STOCK 38500P208 3,734 522,900 SH   DFND 1,2 522,900 0 0
HALLIBURTON CO COMMON STOCK 406216101 1,225 27,058 SH   DFND 1,2 27,058 0 0
HDFC BANK LTD ADR COMMON STOCK 40415F101 13 200 SH   DFND 1,2 200 0 0
HELMERICH & PAYNE COMMON STOCK 423452101 67 1,000 SH   DFND 1,2 1,000 0 0
HEXCEL CORPORATION COMMON STOCK 428291108 3,302 79,300 SH   DFND 1,2 79,300 0 0
HOME DEPOT INC COMMON STOCK 437076102 945 7,400 SH   DFND 1,2 7,400 0 0
HP INC COMMON STOCK 40434L105 77 6,100 SH   DFND 1,2 6,100 0 0
ICICI BANK LTD ADR COMMON STOCK 45104G104 548 76,300 SH   DFND 1,2 76,300 0 0
IDEX CORP COMMON STOCK 45167R104 932 11,352 SH   DFND 1,2 11,352 0 0
ILLUMINA INC COMMON STOCK 452327109 3,130 22,300 SH   DFND 1,2 22,300 0 0
INCYTE CORP COMMON STOCK 45337C102 9,137 114,237 SH   DFND 1,2 114,237 0 0
INTERCONTINENTAL EXCHANGE INC COMMON STOCK 45866F104 2,944 11,500 SH   DFND 1,2 11,500 0 0
INTERNATIONAL BUSINESS MACHINES CORP COMMON STOCK 459200101 105 690 SH   DFND 1,2 690 0 0
INVESCO LTD COMMON STOCK B28XP76 51 2,000 SH   DFND 1,2 2,000 0 0
IRON MOUNTAIN INC (REIT) COMMON STOCK 46284V101 204 5,110 SH   DFND 1,2 5,110 0 0
ITAU UNIBANCO HOLDING SA PN ADR COMMON STOCK 465562106 36,583 3,875,285 SH   DFND 1,2 3,875,285 0 0
JD.COM INC A ADR COMMON STOCK 47215P106 27,996 1,318,700 SH   DFND 1,2 1,318,700 0 0
JOHNSON & JOHNSON COMMON STOCK 478160104 2,062 17,000 SH   DFND 1,2 17,000 0 0
JPMORGAN CHASE & CO COMMON STOCK 46625H100 3,115 50,129 SH   DFND 1,2 50,129 0 0
LAMAR ADVERTISING CO CL A (REIT) COMMON STOCK 512816109 40 600 SH   DFND 1,2 600 0 0
LAS VEGAS SANDS CORP COMMON STOCK 517834107 399 9,175 SH   DFND 1,2 9,175 0 0
LIBERTY GLOBAL PLC - LILAC CL A COMMON STOCK BTC0M71 322 9,967 SH   DFND 1,2 9,967 0 0
LIBERTY GLOBAL PLC CL A COMMON STOCK B8W6766 2,322 79,900 SH   DFND 1,2 79,900 0 0
LULULEMON ATHLETICA INC COMMON STOCK 550021109 2,674 36,200 SH   DFND 1,2 36,200 0 0
LYONDELLBASELL INDUSTRIES NV COMMON STOCK B3SPXZ3 51 690 SH   DFND 1,2 690 0 0
MARSH & MCLENNAN COMPANIES INC COMMON STOCK 571748102 3,019 44,100 SH   DFND 1,2 44,100 0 0
MEDTRONIC PLC COMMON STOCK BTN1Y11 2,395 27,600 SH   DFND 1,2 27,600 0 0
MELCO CROWN ENTERTAINMENT LTD ADR COMMON STOCK 585464100 23,848 1,895,677 SH   DFND 1,2 1,895,677 0 0
MERCADOLIBRE INC COMMON STOCK 58733R102 24,630 175,089 SH   DFND 1,2 175,089 0 0
MERCURY GENERAL CORP COMMON STOCK 589400100 175 3,300 SH   DFND 1,2 3,300 0 0
MICROSOFT CORP COMMON STOCK 594918104 10,275 200,800 SH   DFND 1,2 200,800 0 0
MONDELEZ INTERNATIONAL INC COMMON STOCK 609207105 1,975 43,400 SH   DFND 1,2 43,400 0 0
MONSANTO CO COMMON STOCK 61166W101 4,674 45,200 SH   DFND 1,2 45,200 0 0
MOODYS CORP COMMON STOCK 615369105 2,090 22,300 SH   DFND 1,2 22,300 0 0
MOSAIC COMPANY (THE) COMMON STOCK 61945C103 37 1,400 SH   DFND 1,2 1,400 0 0
NETAPP INC COMMON STOCK 64110D104 617 25,100 SH   DFND 1,2 25,100 0 0
NEW ORIENTAL EDU & TECH GRP INC ADR COMMON STOCK 647581107 2,056 49,100 SH   DFND 1,2 49,100 0 0
NEW YORK COMMUNITY BANCORP INC COMMON STOCK 649445103 76 5,100 SH   DFND 1,2 5,100 0 0
NEWELL BRANDS INC COMMON STOCK 651229106 3,526 72,600 SH   DFND 1,2 72,600 0 0
NIELSEN HOLDINGS PLC COMMON STOCK BWFY550 6,600 127,000 SH   DFND 1,2 127,000 0 0
NIKE INC CL B COMMON STOCK 654106103 1,093 19,800 SH   DFND 1,2 19,800 0 0
NOBLE ENERGY INC COMMON STOCK 655044105 2,213 61,704 SH   DFND 1,2 61,704 0 0
NORFOLK SOUTHERN CORP COMMON STOCK 655844108 68 800 SH   DFND 1,2 800 0 0
NORWEGIAN CRUISE LINE HOLDINGS LTD COMMON STOCK B9CGTC3 988 24,800 SH   DFND 1,2 24,800 0 0
NUCOR CORP COMMON STOCK 670346105 61 1,240 SH   DFND 1,2 1,240 0 0
OCCIDENTAL PETROLEUM CORP COMMON STOCK 674599105 2,826 37,400 SH   DFND 1,2 37,400 0 0
ON SEMICONDUCTOR CORP COMMON STOCK 682189105 2,118 240,100 SH   DFND 1,2 240,100 0 0
PACWEST BANCORP COMMON STOCK 695263103 99 2,500 SH   DFND 1,2 2,500 0 0
PAYCHEX INC COMMON STOCK 704326107 274 4,600 SH   DFND 1,2 4,600 0 0
PEPSICO INC COMMON STOCK 713448108 805 7,600 SH   DFND 1,2 7,600 0 0
PFIZER INC COMMON STOCK 717081103 222 6,300 SH   DFND 1,2 6,300 0 0
PHILIP MORRIS INTERNATIONAL COMMON STOCK 718172109 5,971 58,700 SH   DFND 1,2 58,700 0 0
POTASH CORP OF SASKATCHEWAN INC COMMON STOCK 73755L107 524 32,300 SH   DFND 1,2 32,300 0 0
PRAXAIR INC COMMON STOCK 74005P104 804 7,150 SH   DFND 1,2 7,150 0 0
PRICELINE GROUP INC (THE) COMMON STOCK 741503403 5,730 4,590 SH   DFND 1,2 4,590 0 0
PROCTER & GAMBLE CO COMMON STOCK 742718109 1,787 21,100 SH   DFND 1,2 21,100 0 0
ROYAL CARIBBEAN CRUISES LTD COMMON STOCK 2754907 4,915 73,200 SH   DFND 1,2 73,200 0 0
ROYAL DUTCH SHELL PLC B ADR COMMON STOCK 780259107 239 4,270 SH   DFND 1,2 4,270 0 0
RYANAIR HOLDINGS PLC ADR COMMON STOCK 783513203 2,253 32,400 SH   DFND 1,2 32,400 0 0
SCHLUMBERGER LTD COMMON STOCK 806857108 8,011 101,304 SH   DFND 1,2 101,304 0 0
SEADRILL LTD COMMON STOCK B09RMQ1 622 194,558 SH   DFND 1,2 194,558 0 0
SEADRILL LTD (USD) COMMON STOCK B0HWHV8 293 90,400 SH   DFND 1,2 90,400 0 0
SEMPRA ENERGY COMMON STOCK 816851109 2,223 19,500 SH   DFND 1,2 19,500 0 0
ST JUDE MEDICAL COMMON STOCK 790849103 2,214 28,390 SH   DFND 1,2 28,390 0 0
STARBUCKS CORP COMMON STOCK 855244109 5,233 91,615 SH   DFND 1,2 91,615 0 0
SYNCHRONY FINANCIAL COMMON STOCK 87165B103 1,531 60,552 SH   DFND 1,2 60,552 0 0
TABLEAU SOFTWARE INC CL A COMMON STOCK 87336U105 1,365 27,900 SH   DFND 1,2 27,900 0 0
TAIWAN SEMICONDUCTOR MFG CO ADR COMMON STOCK 874039100 3,883 148,048 SH   DFND 1,2 148,048 0 0
TENARIS SA ADR COMMON STOCK 88031M109 9,008 312,346 SH   DFND 1,2 312,346 0 0
TEXAS INSTRUMENTS INC COMMON STOCK 882508104 1,215 19,400 SH   DFND 1,2 19,400 0 0
TRANSDIGM GROUP INC COMMON STOCK 893641100 3,017 11,440 SH   DFND 1,2 11,440 0 0
TRIMBLE NAVIGATION LTD COMMON STOCK 896239100 882 36,200 SH   DFND 1,2 36,200 0 0
UBS GROUP AG COMMON STOCK BRJL176 2,006 155,469 SH   DFND 1,2 155,469 0 0
UMPQUA HOLDINGS CORP COMMON STOCK 904214103 246 15,900 SH   DFND 1,2 15,900 0 0
UNILEVER NV (USD) COMMON STOCK 904784709 122 2,600 SH   DFND 1,2 2,600 0 0
UNION PACIFIC CORP COMMON STOCK 907818108 2,295 26,300 SH   DFND 1,2 26,300 0 0
VALE SA PNA ADR COMMON STOCK 91912E204 88,489 22,067,200 SH   DFND 1,2 22,067,200 0 0
VERISIGN INC COMMON STOCK 92343E102 3,231 37,375 SH   DFND 1,2 37,375 0 0
VERIZON COMMUNICATIONS INC COMMON STOCK 92343V104 657 11,760 SH   DFND 1,2 11,760 0 0
VIACOM INC CL B COMMON STOCK 92553P201 83 2,000 SH   DFND 1,2 2,000 0 0
VISA INC CL A COMMON STOCK 92826C839 9,664 130,300 SH   DFND 1,2 130,300 0 0
WALT DISNEY COMPANY (THE) COMMON STOCK 254687106 2,788 28,500 SH   DFND 1,2 28,500 0 0
WEATHERFORD INTERNATIONAL PLC CV SR UNSEC 5.875% 07-01-21 CORP CONV BOND 947075AH0 514 472,000 PRN   DFND 1,2 472,000 0 0
WELLS FARGO & CO COMMON STOCK 949746101 4,501 95,100 SH   DFND 1,2 95,100 0 0
WHIRLPOOL CORP COMMON STOCK 963320106 633 3,800 SH   DFND 1,2 3,800 0 0
WYNN RESORTS LTD COMMON STOCK 983134107 3,381 37,300 SH   DFND 1,2 37,300 0 0
XILINX INC COMMON STOCK 983919101 2,888 62,600 SH   DFND 1,2 62,600 0 0
YANDEX NV A COMMON STOCK B5BSZB3 37,406 1,711,925 SH   DFND 1,2 1,711,925 0 0
YANDEX NV CV SR UNSEC 1.125% 12-15-18 CORP CONV BOND 98474TAB3 99 106,000 PRN   DFND 1,2 106,000 0 0
YPF SOCIEDAD ANONIMA D ADR COMMON STOCK 984245100 19,786 1,030,500 SH   DFND 1,2 1,030,500 0 0
YUM! BRANDS INC COMMON STOCK 988498101 904 10,900 SH   DFND 1,2 10,900 0 0