| FUND PORTFOLIO | |
| as of Deceember, 31, 2011 | |
| Sector | Portfolio (%) |
| Banks/Sec. Cos | 8.4% |
| Electronics/Telecomm | 0.8% |
| Energy | 4.0% |
| Petrochems | 6.7% |
| Manufacturing | 27.8% |
| Property | 10.7% |
| Misc. | 0.2% |
|
Subtotal |
58.6% |
| Future SET50 Short Notional (0%) | 0.0% |
| Cash | 41.4% |
Total |
100.0% |
| NAV= | $158,379,303 |
| GrossAV/ A and C Share = | $715.0531 |
| NAV / A and C Share = | $715.0531 |