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
iShares ETFs/USA ISHARES MSCI MEXICO CAPPED 464286822 2,147 41,642 SH   SOLE   41,642 0 0
State Street ETF/USA UTILITIES SELECT SECTOR SPDR 81369Y886 6,286 145,207 SH   SOLE   145,207 0 0
iShares ETFs/USA ISHARES IBOXX USD HIGH YIELD 464288513 7,521 90,300 SH   SOLE   90,300 0 0
iShares ETFs/USA ISHARES IBOXX INVESTMENT GRA 464287242 12,236 105,400 SH   SOLE   105,400 0 0
Market Vectors ETFs/USA MARKET VECTORS RUSSIA ETF 57060U506 27,900 1,777,100 SH   SOLE   1,777,100 0 0
Market Vectors ETFs/USA MARKET VECTORS INDONESIA IND 57060U753 286 17,800 SH   SOLE   17,800 0 0
Vanguard ETF/USA VANGUARD REIT ETF 922908553 6,489 85,900 SH   SOLE   85,900 0 0
iShares ETFs/USA ISHARES MBS ETF 464288588 18,644 170,077 SH   SOLE   170,077 0 0