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
YUM! BRANDS INC COMMON STOCK 988498101 863 9,500 SH   DFND 1,2 9,500 0 0
YPF SOCIEDAD ANONIMA D ADR COMMON STOCK 984245100 13,674 750,500 SH   DFND 1,2 750,500 0 0
YANDEX NV CV SR UNSEC 1.125% 12-15-18 CORP CONV BOND 98474TAB3 101 106,000 PRN   DFND 1,2 106,000 0 0
YANDEX NV A COMMON STOCK B5BSZB3 8,444 401,125 SH   DFND 1,2 401,125 0 0
XILINX INC COMMON STOCK 983919101 3,087 56,800 SH   DFND 1,2 56,800 0 0
WYNN RESORTS LTD COMMON STOCK 983134107 2,825 29,000 SH   DFND 1,2 29,000 0 0
WHIRLPOOL CORP COMMON STOCK 963320106 600 3,700 SH   DFND 1,2 3,700 0 0
WELLS FARGO & CO COMMON STOCK 949746101 3,724 84,100 SH   DFND 1,2 84,100 0 0
WEATHERFORD INTERNATIONAL PLC CV SR UNSEC 5.875% 07-01-21 CORP CONV BOND 947075AH0 531 472,000 PRN   DFND 1,2 472,000 0 0
WALT DISNEY COMPANY (THE) COMMON STOCK 254687106 2,414 26,000 SH   DFND 1,2 26,000 0 0
VISA INC CL A COMMON STOCK 92826C839 9,883 119,500 SH   DFND 1,2 119,500 0 0
VIACOM INC CL B COMMON STOCK 92553P201 76 2,000 SH   DFND 1,2 2,000 0 0
VERIZON COMMUNICATIONS INC COMMON STOCK 92343V104 611 11,760 SH   DFND 1,2 11,760 0 0
VERISIGN INC COMMON STOCK 92343E102 926 11,829 SH   DFND 1,2 11,829 0 0
VALE SA PNA ADR COMMON STOCK 91912E204 95,919 20,365,000 SH   DFND 1,2 20,365,000 0 0
UNION PACIFIC CORP COMMON STOCK 907818108 2,233 22,900 SH   DFND 1,2 22,900 0 0
UNILEVER NV (USD) COMMON STOCK 904784709 120 2,600 SH   DFND 1,2 2,600 0 0
UMPQUA HOLDINGS CORP COMMON STOCK 904214103 239 15,900 SH   DFND 1,2 15,900 0 0
ULTRAGENYX PHARMACEUTICAL INC COMMON STOCK 90400D108 2,497 35,200 SH   DFND 1,2 35,200 0 0
UBS GROUP AG COMMON STOCK BRJL176 1,968 144,174 SH   DFND 1,2 144,174 0 0
TRIMBLE INC COMMON STOCK 896239100 1,485 52,000 SH   DFND 1,2 52,000 0 0
TRANSDIGM GROUP INC COMMON STOCK 893641100 3,134 10,840 SH   DFND 1,2 10,840 0 0
TEXAS INSTRUMENTS INC COMMON STOCK 882508104 1,270 18,100 SH   DFND 1,2 18,100 0 0
TENARIS SA ADR COMMON STOCK 88031M109 7,911 278,546 SH   DFND 1,2 278,546 0 0
TAIWAN SEMICONDUCTOR MFG CO ADR COMMON STOCK 874039100 3,458 113,048 SH   DFND 1,2 113,048 0 0
TABLEAU SOFTWARE INC CL A COMMON STOCK 87336U105 1,443 26,100 SH   DFND 1,2 26,100 0 0
SYNCHRONY FINANCIAL COMMON STOCK 87165B103 1,508 53,852 SH   DFND 1,2 53,852 0 0
STARBUCKS CORP COMMON STOCK 855244109 4,451 82,215 SH   DFND 1,2 82,215 0 0
ST JUDE MEDICAL COMMON STOCK 790849103 2,153 26,990 SH   DFND 1,2 26,990 0 0
SEMPRA ENERGY COMMON STOCK 816851109 1,994 18,600 SH   DFND 1,2 18,600 0 0
SEADRILL LTD (USD) COMMON STOCK B0HWHV8 214 90,400 SH   DFND 1,2 90,400 0 0
SEADRILL LTD COMMON STOCK B09RMQ1 470 194,558 SH   DFND 1,2 194,558 0 0
SCHLUMBERGER LTD COMMON STOCK 806857108 7,212 91,704 SH   DFND 1,2 91,704 0 0
RYANAIR HOLDINGS PLC ADR COMMON STOCK 783513203 2,431 32,400 SH   DFND 1,2 32,400 0 0
ROYAL DUTCH SHELL PLC B ADR COMMON STOCK 780259107 268 5,070 SH   DFND 1,2 5,070 0 0
ROYAL DUTCH SHELL PLC A ADR COMMON STOCK 780259206 4 79 SH   DFND 1,2 79 0 0
ROYAL CARIBBEAN CRUISES LTD COMMON STOCK 2754907 5,441 72,600 SH   DFND 1,2 72,600 0 0
PROCTER & GAMBLE CO COMMON STOCK 742718109 395 4,400 SH   DFND 1,2 4,400 0 0
PRICELINE GROUP INC (THE) COMMON STOCK 741503403 6,166 4,190 SH   DFND 1,2 4,190 0 0
PRAXAIR INC COMMON STOCK 74005P104 767 6,350 SH   DFND 1,2 6,350 0 0
POTASH CORP OF SASKATCHEWAN INC (USD) COMMON STOCK 73755L107 377 23,100 SH   DFND 1,2 23,100 0 0
PHILIP MORRIS INTERNATIONAL COMMON STOCK 718172109 5,055 52,000 SH   DFND 1,2 52,000 0 0
PFIZER INC COMMON STOCK 717081103 213 6,300 SH   DFND 1,2 6,300 0 0
PEPSICO INC COMMON STOCK 713448108 827 7,600 SH   DFND 1,2 7,600 0 0
PAYCHEX INC COMMON STOCK 704326107 266 4,600 SH   DFND 1,2 4,600 0 0
PACWEST BANCORP COMMON STOCK 695263103 86 2,000 SH   DFND 1,2 2,000 0 0
ON SEMICONDUCTOR CORP COMMON STOCK 682189105 2,683 217,800 SH   DFND 1,2 217,800 0 0
OCCIDENTAL PETROLEUM CORP COMMON STOCK 674599105 2,538 34,800 SH   DFND 1,2 34,800 0 0
NUCOR CORP COMMON STOCK 670346105 61 1,240 SH   DFND 1,2 1,240 0 0
NORWEGIAN CRUISE LINE HOLDINGS LTD COMMON STOCK B9CGTC3 935 24,800 SH   DFND 1,2 24,800 0 0
NORFOLK SOUTHERN CORP COMMON STOCK 655844108 78 800 SH   DFND 1,2 800 0 0
NOBLE ENERGY INC COMMON STOCK 655044105 1,884 52,704 SH   DFND 1,2 52,704 0 0
NIKE INC CL B COMMON STOCK 654106103 937 17,800 SH   DFND 1,2 17,800 0 0
NIELSEN HOLDINGS PLC COMMON STOCK BWFY550 6,193 115,600 SH   DFND 1,2 115,600 0 0
NEWELL BRANDS INC COMMON STOCK 651229106 1,959 37,200 SH   DFND 1,2 37,200 0 0
NEW YORK COMMUNITY BANCORP INC COMMON STOCK 649445103 147 10,300 SH   DFND 1,2 10,300 0 0
NEW ORIENTAL EDU & TECH GRP INC ADR COMMON STOCK 647581107 27,334 589,600 SH   DFND 1,2 589,600 0 0
NETAPP INC COMMON STOCK 64110D104 759 21,200 SH   DFND 1,2 21,200 0 0
MOODYS CORP COMMON STOCK 615369105 2,231 20,600 SH   DFND 1,2 20,600 0 0
MONSANTO CO COMMON STOCK 61166W101 3,792 37,100 SH   DFND 1,2 37,100 0 0
MONDELEZ INTERNATIONAL INC COMMON STOCK 609207105 1,686 38,400 SH   DFND 1,2 38,400 0 0
MICROSOFT CORP COMMON STOCK 594918104 11,405 198,000 SH   DFND 1,2 198,000 0 0
MERCURY GENERAL CORP COMMON STOCK 589400100 181 3,300 SH   DFND 1,2 3,300 0 0
MERCADOLIBRE INC COMMON STOCK 58733R102 31,221 168,789 SH   DFND 1,2 168,789 0 0
MEDTRONIC PLC COMMON STOCK BTN1Y11 2,264 26,200 SH   DFND 1,2 26,200 0 0
MARSH & MCLENNAN COMPANIES INC COMMON STOCK 571748102 2,777 41,300 SH   DFND 1,2 41,300 0 0
LYONDELLBASELL INDUSTRIES NV COMMON STOCK B3SPXZ3 56 690 SH   DFND 1,2 690 0 0
LULULEMON ATHLETICA INC COMMON STOCK 550021109 2,092 34,300 SH   DFND 1,2 34,300 0 0
LIBERTY GLOBAL PLC CL A COMMON STOCK B8W6766 2,109 61,700 SH   DFND 1,2 61,700 0 0
LAS VEGAS SANDS CORP COMMON STOCK 517834107 597 10,375 SH   DFND 1,2 10,375 0 0
LAMAR ADVERTISING CO CL A (REIT) COMMON STOCK 512816109 39 600 SH   DFND 1,2 600 0 0
KITE PHARMA INC COMMON STOCK 49803L109 363 6,500 SH   DFND 1,2 6,500 0 0
JPMORGAN CHASE & CO COMMON STOCK 46625H100 1,700 25,529 SH   DFND 1,2 25,529 0 0
JOHNSON & JOHNSON COMMON STOCK 478160104 1,926 16,300 SH   DFND 1,2 16,300 0 0
JD.COM INC A ADR COMMON STOCK 47215P106 40,507 1,552,600 SH   DFND 1,2 1,552,600 0 0
ITAU UNIBANCO HOLDING SA PN ADR COMMON STOCK 465562106 40,111 3,666,485 SH   DFND 1,2 3,666,485 0 0
IRON MOUNTAIN INC (REIT) COMMON STOCK 46284V101 192 5,110 SH   DFND 1,2 5,110 0 0
INVESCO LTD COMMON STOCK B28XP76 63 2,000 SH   DFND 1,2 2,000 0 0
INTERNATIONAL BUSINESS MACHINES CORP COMMON STOCK 459200101 110 690 SH   DFND 1,2 690 0 0
INTERCONTINENTAL EXCHANGE INC COMMON STOCK 45866F104 2,855 10,600 SH   DFND 1,2 10,600 0 0
INCYTE CORP COMMON STOCK 45337C102 9,140 96,937 SH   DFND 1,2 96,937 0 0
ILLUMINA INC COMMON STOCK 452327109 2,598 14,300 SH   DFND 1,2 14,300 0 0
IDEX CORP COMMON STOCK 45167R104 1,062 11,352 SH   DFND 1,2 11,352 0 0
ICICI BANK LTD ADR COMMON STOCK 45104G104 570 76,300 SH   DFND 1,2 76,300 0 0
HP INC COMMON STOCK 40434L105 95 6,100 SH   DFND 1,2 6,100 0 0
HOME DEPOT INC COMMON STOCK 437076102 952 7,400 SH   DFND 1,2 7,400 0 0
HEXCEL CORPORATION COMMON STOCK 428291108 3,167 71,500 SH   DFND 1,2 71,500 0 0
HELMERICH & PAYNE COMMON STOCK 423452101 67 1,000 SH   DFND 1,2 1,000 0 0
HDFC BANK LTD ADR COMMON STOCK 40415F101 14 200 SH   DFND 1,2 200 0 0
HALLIBURTON CO COMMON STOCK 406216101 1,358 30,258 SH   DFND 1,2 30,258 0 0
GRANA Y MONTERO SAA ADR COMMON STOCK 38500P208 4,361 522,900 SH   DFND 1,2 522,900 0 0
GOLDMAN SACHS GROUP INC COMMON STOCK 38141G104 2,831 17,555 SH   DFND 1,2 17,555 0 0
GOLAR LNG LTD (USD) COMMON STOCK 2367963 2,536 119,600 SH   DFND 1,2 119,600 0 0
GILEAD SCIENCES INC COMMON STOCK 375558103 1,800 22,750 SH   DFND 1,2 22,750 0 0
GERDAU SA PN ADR COMMON STOCK 373737105 2,750 1,011,200 SH   DFND 1,2 1,011,200 0 0
GENERAL ELECTRIC CO COMMON STOCK 369604103 30 1,000 SH   DFND 1,2 1,000 0 0
FREEPORT-MCMORAN INC COMMON STOCK 35671D857 1,008 92,800 SH   DFND 1,2 92,800 0 0
EXXON MOBIL CORP COMMON STOCK 30231G102 2,741 31,400 SH   DFND 1,2 31,400 0 0
EOG RESOURCES INC COMMON STOCK 26875P101 3,428 35,450 SH   DFND 1,2 35,450 0 0
ENSCO PLC CL A COMMON STOCK B4VLR19 193 22,700 SH   DFND 1,2 22,700 0 0
ENERSIS CHILE SA ADR COMMON STOCK 29278D105 5,687 1,197,264 SH   DFND 1,2 1,197,264 0 0
ENERSIS AMERICAS SA ADR COMMON STOCK 29274F104 10,464 1,277,664 SH   DFND 1,2 1,277,664 0 0
ENBRIDGE INC COMMON STOCK 29250N105 7,432 169,400 SH   DFND 1,2 169,400 0 0
ELI LILLY AND CO COMMON STOCK 532457108 2,723 33,925 SH   DFND 1,2 33,925 0 0
EATON CORP PLC COMMON STOCK B8KQN82 5,441 82,800 SH   DFND 1,2 82,800 0 0
DOW CHEMICAL CO COMMON STOCK 260543103 176 3,400 SH   DFND 1,2 3,400 0 0
DAVITA INC COMMON STOCK 23918K108 1,051 15,900 SH   DFND 1,2 15,900 0 0
DANAHER CORP COMMON STOCK 235851102 5,025 64,100 SH   DFND 1,2 64,100 0 0
CTRIP.COM INTL ADR COMMON STOCK 22943F100 6,908 148,346 SH   DFND 1,2 148,346 0 0
CROWN CASTLE INTL CORP (REIT) COMMON STOCK 22822V101 217 2,300 SH   DFND 1,2 2,300 0 0
CREDICORP LTD COMMON STOCK 2232878 34,041 223,628 SH   DFND 1,2 223,628 0 0
COVANTA HOLDING CORP COMMON STOCK 22282E102 88 5,700 SH   DFND 1,2 5,700 0 0
CORE LABORATORIES COMMON STOCK 2182531 5,566 49,552 SH   DFND 1,2 49,552 0 0
CONOCOPHILLIPS COMMON STOCK 20825C104 3,621 83,300 SH   DFND 1,2 83,300 0 0
COMCAST CORP CL A COMMON STOCK 20030N101 2,567 38,700 SH   DFND 1,2 38,700 0 0
COGNIZANT TECHNOLOGY SOLUTIONS CORP CL A COMMON STOCK 192446102 496 10,400 SH   DFND 1,2 10,400 0 0
COCA-COLA CO COMMON STOCK 191216100 2,412 57,000 SH   DFND 1,2 57,000 0 0
COBALT INTL ENERGY INC CV SR UNSEC 3.125% 05-15-24 CORP CONV BOND 19075FAB2 533 1,367,000 PRN   DFND 1,2 1,367,000 0 0
COBALT INTL ENERGY INC CV SR UNSEC 2.625% 12-01-19 CORP CONV BOND 19075FAA4 79 153,000 PRN   DFND 1,2 153,000 0 0
COBALT INTERNATIONAL ENERGY INC COMMON STOCK 19075F106 2,859 2,305,555 SH   DFND 1,2 2,305,555 0 0
CME GROUP INC CL A COMMON STOCK 12572Q105 9,131 87,360 SH   DFND 1,2 87,360 0 0
CIT GROUP INC COMMON STOCK 125581801 3,496 96,300 SH   DFND 1,2 96,300 0 0
CHUBB LTD COMMON STOCK B3BQMF6 1,621 12,900 SH   DFND 1,2 12,900 0 0
CHEVRON CORP COMMON STOCK 166764100 2,431 23,616 SH   DFND 1,2 23,616 0 0
CH ROBINSON WORLDWIDE INC COMMON STOCK 12541W209 127 1,800 SH   DFND 1,2 1,800 0 0
CERNER CORPORATION COMMON STOCK 156782104 3,192 51,700 SH   DFND 1,2 51,700 0 0
CENTURYLINK INC COMMON STOCK 156700106 38 1,400 SH   DFND 1,2 1,400 0 0
CENOVUS ENERGY INC COMMON STOCK 15135U109 337 23,500 SH   DFND 1,2 23,500 0 0
CEMEX SAB DE CV CPO UNIT ADR (2 A SHRS + 1 B SHR) COMMON STOCK 151290889 25,152 3,167,720 SH   DFND 1,2 3,167,720 0 0
CBS CORP CL B N/V COMMON STOCK 124857202 2,677 48,900 SH   DFND 1,2 48,900 0 0
CANADIAN NATURAL RESOURCES LTD COMMON STOCK 136385101 1,468 46,000 SH   DFND 1,2 46,000 0 0
CANADIAN NATIONAL RAILWAY CO (USD) COMMON STOCK 136375102 3,120 47,700 SH   DFND 1,2 47,700 0 0
BROADCOM LTD COMMON STOCK BD9WQP4 1,364 7,909 SH   DFND 1,2 7,909 0 0
BRF SA ON ADR COMMON STOCK 10552T107 4,231 248,000 SH   DFND 1,2 248,000 0 0
BANCO BRADESCO SA PN ADR COMMON STOCK 059460303 32,714 3,606,798 SH   DFND 1,2 3,606,798 0 0
ASTRAZENECA PLC ADR COMMON STOCK 046353108 513 15,600 SH   DFND 1,2 15,600 0 0
ASML HOLDING NV (USD) COMMON STOCK B908F01 971 8,864 SH   DFND 1,2 8,864 0 0
ARTHUR J GALLAGHER & CO COMMON STOCK 363576109 203 4,000 SH   DFND 1,2 4,000 0 0
APPLE INC COMMON STOCK 037833100 3,911 34,592 SH   DFND 1,2 34,592 0 0
AON PLC CL A COMMON STOCK B5BT0K0 1,181 10,500 SH   DFND 1,2 10,500 0 0
ANADARKO PETROLEUM CORP COMMON STOCK 032511107 1,014 16,000 SH   DFND 1,2 16,000 0 0
AMERICAN TOWER CORP CV PFD SER B DEP SHS (REP 1/10 5.5% SER B) 02-15-18 (REIT) CONV PREFRD STCK 03027X407 208 1,900 SH   DFND 1,2 1,900 0 0
AMERICAN TOWER CORP (REIT) COMMON STOCK 03027X100 4,109 36,259 SH   DFND 1,2 36,259 0 0
AMERICA MOVIL SAB DE CV L ADR COMMON STOCK 02364W105 49,327 4,311,832 SH   DFND 1,2 4,311,832 0 0
AMAZON.COM INC COMMON STOCK 023135106 6,070 7,250 SH   DFND 1,2 7,250 0 0
ALPHABET INC CL C COMMON STOCK 02079K107 7,232 9,304 SH   DFND 1,2 9,304 0 0
ALPHABET INC CL A COMMON STOCK 02079K305 3,212 3,995 SH   DFND 1,2 3,995 0 0
ALIBABA GROUP HOLDING LTD ADR COMMON STOCK 01609W102 96,701 914,080 SH   DFND 1,2 914,080 0 0
AGIOS PHARMACEUTICALS INC COMMON STOCK 00847X104 3,164 59,900 SH   DFND 1,2 59,900 0 0
AES CORP (THE) COMMON STOCK 00130H105 29,833 2,321,600 SH   DFND 1,2 2,321,600 0 0
ACCENTURE PLC CL A COMMON STOCK B4BNMY3 1,246 10,200 SH   DFND 1,2 10,200 0 0