| Stock | 99.15% |
| Cash | 0.01% |
| Other* | 0.85% |
*May include dividends booked but not yet received.
Holdings Detail as of 5/15/2012 (Holdings subject to change)
| Symbol | Name |
% Net Assets |
Market Value ($) |
ISIN | Market | Sector |
Exchange Rate |
|---|---|---|---|---|---|---|---|
| 16 | SUN HUNG KAI PROPERTIES | 8.48 | $2,068,233 | HK0016000132 | XHKG | Real Estate Holding & Development | 7.77 |
| WDC | WESTFIELD GROUP | 8.09 | $1,973,162 | AU000000WDC7 | XASX | Retail Reits | 1.00 |
| 8802 | MITSUBISHI ESTATE CO LTD | 5.94 | $1,449,132 | JP3899600005 | XTKS | Real Estate Holding & Development | 80.11 |
| 8801 | MITSUI FUDOSAN CO LTD | 5.23 | $1,275,009 | JP3893200000 | XTKS | Real Estate Holding & Development | 80.11 |
| HKL | HONGKONG LAND HOLDINGS LTD | 3.98 | $970,380 | BMG4587L1090 | XSES | Real Estate Holding & Development | 1.00 |
| 8830 | SUMITOMO REALTY & DEVELOPMNT | 3.90 | $951,005 | JP3409000001 | XTKS | Real Estate Holding & Development | 80.11 |
| 823 | LINK REIT | 3.32 | $810,782 | HK0823032773 | XHKG | Retail Reits | 7.77 |
| 4 | WHARF HOLDINGS LTD | 3.14 | $765,302 | HK0004000045 | XHKG | Real Estate Holding & Development | 7.77 |
| WRT | WESTFIELD RETAIL TRUST | 2.99 | $730,562 | AU000000WRT1 | XASX | Retail Reits | 1.00 |
| SGP | STOCKLAND | 2.85 | $695,849 | AU000000SGP0 | XASX | Residential Reits | 1.00 |
| 101 | HANG LUNG PROPERTIES LTD | 2.70 | $657,663 | HK0101000591 | XHKG | Real Estate Holding & Development | 7.77 |
| CAPL | CAPITALAND LTD | 2.52 | $615,370 | SG1J27887962 | XSES | Real Estate Holding & Development | 1.26 |
| 12 | HENDERSON LAND DEVELOPMENT | 2.29 | $558,944 | HK0012000102 | XHKG | Real Estate Holding & Development | 7.77 |
| GPT | GPT GROUP | 2.18 | $532,548 | AU000000GPT8 | XASX | Retail Reits | 1.00 |
| CIT | CITY DEVELOPMENTS LTD | 2.10 | $512,927 | SG1R89002252 | XSES | Real Estate Holding & Development | 1.26 |
| GMG | GOODMAN GROUP | 2.06 | $501,893 | AU000000GMG2 | XASX | Diversified Reits | 1.00 |
| 17 | NEW WORLD DEVELOPMENT | 2.03 | $495,148 | HK0017000149 | XHKG | Real Estate Holding & Development | 7.77 |
| 8951 | NIPPON BUILDING FUND INC | 2.01 | $491,399 | JP3027670003 | XTKS | Industrial & Office Reits | 80.11 |
| 8952 | JAPAN REAL ESTATE INVESTMENT | 1.80 | $438,772 | JP3027680002 | XTKS | Industrial & Office Reits | 80.11 |
| 83 | SINO LAND CO | 1.71 | $417,661 | HK0083000502 | XHKG | Real Estate Holding & Development | 7.77 |
| DXS | DEXUS PROPERTY GROUP | 1.68 | $411,101 | AU000000DXS1 | XASX | Diversified Reits | 1.00 |
| MGR | MIRVAC GROUP | 1.63 | $398,225 | AU000000MGR9 | XASX | Residential Reits | 1.00 |
| CFX | CFS RETAIL PROPERTY TRUST | 1.48 | $361,608 | AU000000CFX0 | XASX | Retail Reits | 1.00 |
| GLP | GLOBAL LOGISTIC PROPERTIES L | 1.33 | $323,913 | SG2C26962630 | XSES | Real Estate Holding & Development | 1.26 |
| CT | CAPITAMALL TRUST | 1.31 | $320,478 | SG1M51904654 | XSES | Retail Reits | 1.26 |
| 14 | HYSAN DEVELOPMENT CO | 1.27 | $310,525 | HK0014000126 | XHKG | Real Estate Holding & Development | 7.77 |
| AREIT | ASCENDAS REAL ESTATE INV TRT | 1.26 | $306,583 | SG1M77906915 | XSES | Industrial & Office Reits | 1.26 |
| 683 | KERRY PROPERTIES LTD | 1.09 | $265,626 | BMG524401079 | XHKG | Real Estate Holding & Development | 7.77 |
| 8953 | JAPAN RETAIL FUND INVESTMENT | 1.08 | $264,686 | JP3039710003 | XTKS | Retail Reits | 80.11 |
| CPA | COMMONWEALTH PROPERTY OFFICE | 0.91 | $221,240 | AU000000CPA7 | XASX | Industrial & Office Reits | 1.00 |
| 8960 | UNITED URBAN INVESTMENT CORP | 0.88 | $214,220 | JP3045540006 | XTKS | Retail Reits | 80.11 |
| SUN | SUNTEC REIT | 0.85 | $207,602 | SG1Q52922370 | XSES | Industrial & Office Reits | 1.26 |
| CCT | CAPITACOMMERCIAL TRUST | 0.81 | $196,664 | SG1P32918333 | XSES | Industrial & Office Reits | 1.26 |
| 8955 | JAPAN PRIME REALTY INVESTMEN | 0.74 | $180,090 | JP3040890000 | XTKS | Industrial & Office Reits | 80.11 |
| IOF | INVESTA OFFICE FUND | 0.69 | $169,449 | AU000000IOF6 | XASX | Industrial & Office Reits | 1.00 |
| 813 | SHIMAO PROPERTY HOLDINGS LTD | 0.67 | $162,539 | KYG810431042 | XHKG | Real Estate Holding & Development | 7.77 |
| 8905 | AEON MALL CO LTD | 0.65 | $159,048 | JP3131430005 | XTKS | Real Estate Holding & Development | 80.11 |
| 8815 | TOKYU LAND CORP | 0.63 | $154,138 | JP3569000007 | XTKS | Real Estate Holding & Development | 80.11 |
| CMA | CAPITAMALLS ASIA LTD | 0.62 | $152,270 | SG1Z05950543 | XSES | Real Estate Holding & Development | 1.26 |
| 8959 | NOMURA REAL ESTATE OFFICE FU | 0.61 | $149,307 | JP3045530007 | XTKS | Industrial & Office Reits | 80.11 |
| KPLD | KEPPEL LAND LTD | 0.60 | $147,123 | SG1R31002210 | XSES | Real Estate Holding & Development | 1.26 |
| 3383 | AGILE PROPERTY HOLDINGS LTD | 0.57 | $138,855 | KYG011981035 | XHKG | Real Estate Holding & Development | 7.77 |
| 410 | SOHO CHINA LTD | 0.56 | $135,530 | KYG826001003 | XHKG | Real Estate Holding & Development | 7.77 |
| MLT | MAPLETREE LOGISTICS TRUST | 0.51 | $124,359 | SG1S03926213 | XSES | Industrial & Office Reits | 1.26 |
| 3231 | NOMURA REAL ESTATE HOLDINGS | 0.46 | $112,795 | JP3762900003 | XTKS | Real Estate Holding & Development | 80.11 |
| 2007 | COUNTRY GARDEN HOLDINGS CO | 0.43 | $105,972 | KYG245241032 | XHKG | Real Estate Holding & Development | 7.77 |
| MINT | MAPLETREE INDUSTRIAL TRUST | 0.41 | $98,836 | SG2C32962814 | XSES | Industrial & Office Reits | 1.26 |
| 272 | SHUI ON LAND LTD | 0.39 | $95,858 | KYG811511131 | XHKG | Real Estate Holding & Development | 7.77 |
| 8982 | TOP REIT INC | 0.39 | $94,932 | JP3046370007 | XTKS | Industrial & Office Reits | 80.11 |
| CDREIT | CDL HOSPITALITY TRUSTS | 0.38 | $92,577 | SG1T66931158 | XSES | Hotel & Lodging Reits | 1.26 |
| 2778 | CHAMPION REIT | 0.38 | $92,115 | HK2778034606 | XHKG | Industrial & Office Reits | 7.77 |
| CQR | CHARTER HALL RETAIL REIT | 0.37 | $90,846 | AU000000CQR9 | XASX | Retail Reits | 1.00 |
| 3226 | NIPPON ACCOMMODATIONS FUND | 0.37 | $89,477 | JP3046440008 | XTKS | Residential Reits | 80.11 |
| BWP | BWP TRUST | 0.36 | $89,043 | AU000000BWP3 | XASX | Retail Reits | 1.00 |
| 8972 | KENEDIX REALTY INVESTMENT CO | 0.35 | $85,944 | JP3046270009 | XTKS | Industrial & Office Reits | 80.11 |
| 8804 | TOKYO TATEMONO CO LTD | 0.34 | $83,585 | JP3582600007 | XTKS | Real Estate Holding & Development | 80.11 |
| 8933 | NTT URBAN DEVELOPMENT CORP | 0.34 | $83,102 | JP3165690003 | XTKS | Real Estate Holding & Development | 80.11 |
| 8954 | ORIX JREIT INC | 0.32 | $77,294 | JP3040880001 | XTKS | Industrial & Office Reits | 80.11 |
| 8961 | MORI TRUST SOGO REIT INC | 0.31 | $76,395 | JP3046170001 | XTKS | Industrial & Office Reits | 80.11 |
| KIP | KIWI INCOME PROPERTY TRUST | 0.31 | $75,075 | NZKIPE0001S5 | XNZE | Retail Reits | 1.29 |
| 917 | NEW WORLD CHINA LAND LTD | 0.30 | $74,235 | KYG6493A1013 | XHKG | Real Estate Holding & Development | 7.77 |
| 8956 | PREMIER INVESTMENT CORP | 0.26 | $62,509 | JP3041770003 | XTKS | Industrial & Office Reits | 80.11 |
| WINGT | WING TAI HOLDINGS LTD | 0.23 | $56,404 | SG1K66001688 | XSES | Real Estate Holding & Development | 1.26 |
| YLLG | YANLORD LAND GROUP LTD | 0.18 | $44,394 | SG1T57930854 | XSES | Real Estate Holding & Development | 1.26 |
| 8957 | TOKYU REIT INC | 0.18 | $42,804 | JP3044510000 | XTKS | Industrial & Office Reits | 80.11 |
| FKP | FKP PROPERTY GROUP | 0.17 | $40,540 | AU000000FKP9 | XASX | Real Estate Holding & Development | 1.00 |
| 754 | HOPSON DEVELOPMENT HOLDINGS | 0.16 | $38,839 | BMG4600H1016 | XHKG | Real Estate Holding & Development | 7.77 |
| -- | BLACKROCK FDS III | 0.01 | $1,231 | -- | S-T Securities | 1.00 | |
| 3357358Z | BGP HOLDINGS PLC | 0.00 | $69 | MV3357358ZDD | XMAL | 0.78 |
