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
State Street ETF/USA UTILITIES SELECT SECTOR SPDR 81369Y886 8,577 206,879 SH   SOLE   206,879 0 0
iShares ETFs/USA ISHARES IBOXX HIGH YIELD COR 464288513 5,497 61,902 SH   SOLE   61,902 0 0
iShares ETFs/USA ISHARES IBOXX INVESTMENT GRA 464287242 2,326 20,100 SH   SOLE   20,100 0 0
iShares ETFs/USA ISHARES MSCI CHILE CAPPED ET 464286640 91 2,400 SH   SOLE   2,400 0 0
Market Vectors ETFs/USA MARKET VECTORS INDONESIA IND 57060U753 259 12,200 SH   SOLE   12,200 0 0
Vanguard ETF/USA VANGUARD REIT ETF 922908553 9,456 126,600 SH   SOLE   126,600 0 0