SA Funds - Investment Trust: SA Emerging Markets Value Fund Fund Holdings as of 12/31/2015 Alphabetical Sort

# Asset Name Market Value % of Portfolio 1 A DATA TECHNOLOGY CO LTD 20,276 0.01% 2 ABILITY ENTERPRISE CO LTD 17,949 0.01% 3 ACBEL POLYTECH INC 32,560 0.02% 4 ACC LTD 136,249 0.09% 5 ACER INC 122,626 0.08% 6 ADANI ENTERPRISES LTD 60,734 0.04% 7 ADANI PORTS AND SPECIAL ECON 267,323 0.18% 8 ADANI POWER LTD 107,848 0.07% 9 ADANI TRANSMISSIONS LTD 26,791 0.02% 10 ADARO ENERGY TBK PT 132,570 0.09% 11 ADITYA BIRLA NUVO LTD 359,596 0.24% 12 AECI LTD 78,209 0.05% 13 AFFIN HOLDINGS BERHAD 53,068 0.04% 14 AFRICAN BANK INVESTMENTS LTD 273 0.00% 15 AFRICAN RAINBOW MINERALS LTD 47,569 0.03% 16 AGILE PROPERTY HOLDINGS LTD 126,584 0.09% 17 AGRICULTURAL BANK OF CHINA H 688,397 0.47% 18 AGUNG PODOMORO LAND TBK PT 30,599 0.02% 19 AIRASIA BHD 92,510 0.06% 20 AKBANK T.A.S. 476,372 0.32% 21 AKSA AKRILIK KIMYA SANAYII 33,130 0.02% 22 ALAM SUTERA REALTY TBK PT 64,539 0.04% 23 ALFA S.A.B. A 516,953 0.35% 24 ALIANSCE SHOPPING CENTERS SA 37,288 0.03% 25 ALLAHABAD BANK 1,926 0.00% 26 ALLIANCE FINANCIAL GROUP BHD 105,386 0.07% 27 ALLIANCE GLOBAL GROUP INC 163,925 0.11% 28 ALMACENES EXITO SA 42,803 0.03% 29 ALPARGATAS SA PREF 9,718 0.01% 30 ALPEK SA DE CV 86,396 0.06% 31 AE 2,508 0.00% 32 ALPHA NETWORKS INC 13,119 0.01% 33 ALTEK CORP 19,504 0.01% 34 AMBASSADOR HOTEL/THE 16,836 0.01% 35 AMBUJA CEMENTS LTD 261,984 0.18% 36 AMMB HOLDINGS BHD 322,842 0.22% 37 AMTRAN TECHNOLOGY CO LTD 47,643 0.03% 38 ANADOLU EFES BIRACILIK VE 55,438 0.04% 39 ANEKA TAMBANG PERSERO TBK PT 55,493 0.04% 40 ANGANG STEEL CO LTD H 46,998 0.03% 41 ANGLO AMERICAN PLATINUM LTD 83,112 0.06% 42 ANGLOGOLD ASHANTI LTD 53,127 0.04% 43 ANGLOGOLD ASHANTI SPON ADR 501,466 0.34% 44 AP THAILAND PCL FOREIGN 45,866 0.03% 45 APOLLO TYRES LTD 147,315 0.10% 46 ARCELORMITTAL SOUTH AFRICA 6,976 0.00% 47 ARCELORMITTAL SOUTH AFRICA LTD 25 0.00% 48 ARDENTEC CORP 43,919 0.03% # Asset Name Market Value % of Portfolio 49 ARVIND INFRASTRUCTURE LTD 4,604 0.00% 50 ARVIND LTD 194,509 0.13% 51 ASHOKA BUILDCON LTD 14,736 0.01% 52 ASIA AVIATION PCL NVDR 43,754 0.03% 53 ASIA CEMENT CORP 220,445 0.15% 54 ASIA OPTICAL CO INC 36,385 0.02% 55 ASIA POLYMER 13,786 0.01% 56 ASIANA AIRLINES 49,311 0.03% 57 ASSECO POLAND SA 170,690 0.12% 58 ASTRA INTERNATIONAL TBK PT 90,533 0.06% 59 ASUSTEK COMPUTER INC 952,294 0.64% 60 AU OPTRONICS CORP 257,121 0.17% 61 AU OPTRONICS CORP SPON ADR 214,100 0.14% 62 AVENG LTD 6,293 0.00% 63 AVIANCA HOLDINGS SA 15,772 0.01% 64 AXIS BANK LTD 1,010,724 0.68% 65 AXTEL SAB DE CV CPO 13,882 0.01% 66 BAJAJ FINSERV LTD 211,802 0.14% 67 BAJAJ HOLDINGS AND INVESTMEN 157,102 0.11% 68 BALKRISHNA INDUSTRIES LTD 39,892 0.03% 69 BANCO BRADESCO S.A. 70,471 0.05% 70 BANCO BRADESCO SA 330 0.00% 71 BANCO BRADESCO SA PREF 93,860 0.06% 72 BANCO DO BRASIL S.A. 474,545 0.32% 73 BANCO ESTADO RIO GRAN PREF B 33,771 0.02% 74 BANCO SANTANDER BRASIL UNIT 123,629 0.08% 75 BANGCHAK PETROLEUM PUB FOR 51,924 0.04% 76 BANGKOK BANK PUBLIC CO NVDR 259,782 0.18% 77 BANGKOK EXPRESSWAY AND METRO 41,343 0.03% 78 BANGKOK INSURANCE PUB FORGN 20,950 0.01% 79 BANGKOK LAND PUB CO LTD FRGN 59,785 0.04% 80 BANK BUKOPIN TBK PT 21,749 0.01% 81 BANK DANAMON INDONESIA TBK 87,927 0.06% 82 BANK MANDIRI PERSERO TBK PT 749,394 0.51% 83 BANK MILLENNIUM SA 45,822 0.03% 84 BANK NEGARA INDONESIA PERSER 372,039 0.25% 85 BANK OF BARODA 114,729 0.08% 86 BANK OF CHINA LTD H 2,068,353 1.40% 87 BANK OF CHONGQING CO LTD H 42,000 0.03% 88 BANK OF COMMUNICATIONS CO H 312,380 0.21% 89 BANK OF INDIA 38,331 0.03% 90 BANK OF THE PHILIPPINE ISLAN 35,906 0.02% 91 BANK PAN INDONESIA TBK PT 57,546 0.04% 92 BANK TABUNGAN NEGARA PERSERO 90,917 0.06% 93 BANPU PUBLIC CO LTD FOR REG 86,125 0.06% 94 BARCLAYS AFRICA GROUP LTD 451,300 0.30% 95 BARLOWORLD LTD 158,926 0.11% 96 BATU KAWAN BHD 76,627 0.05% 97 BDO UNIBANK INC 325,677 0.22% 98 BEIJING ENTERPRISES HLDGS 15,161 0.01% 99 BERJAYA CORP BHD 38,649 0.03% 100 BERJAYA LAND BHD 37,592 0.03% 101 BES ENGINEERING CORP 49,918 0.03% 102 BHARAT ELECTRONICS LTD 61,405 0.04% 103 BHARAT HEAVY ELECTRICALS 403,259 0.27% 104 BHARTI AIRTEL LTD 807,322 0.55% 105 BIDVEST GROUP LTD 106,559 0.07% 106 BIOCON LTD 61,070 0.04% # Asset Name Market Value % of Portfolio 107 BLUE LABEL TELECOMS LTD 2,509 0.00% 108 BM&FBOVESPA SA 683,007 0.46% 109 BNK FINANCIAL GROUP INC 158,196 0.11% 110 BNK FINANCIAL GROUP INC 3,702 0.00% 111 BOUSTEAD HOLDINGS BHD 58,272 0.04% 112 BOUSTEAD PLANTATIONS BHD 4,026 0.00% 113 BPD JAWA BARAT DAN BANTEN TB 35,584 0.02% 114 BPD JAWA TIMUR TBK PT 12,776 0.01% 115 BRASKEM SA SPON ADR 156,658 0.11% 116 BRAZILIAN REAL 50,685 0.03% 117 BUMI ARMADA BERHAD 116,812 0.08% 118 BUMI SERPONG DAMAI PT 105,193 0.07% 119 BYD ELECTRONIC INTL CO LTD 25,497 0.02% 120 CAHYA MATA SARAWAK BHD 26,884 0.02% 121 CAIRN INDIA LTD 170,619 0.12% 122 CANARA BANK 81,931 0.06% 123 CAP SA 15,396 0.01% 124 CAPITAL SECURITIES CORP 72,306 0.05% 125 CAREER TECHNOLOGY CO LTD 29,327 0.02% 126 CATHAY FINANCIAL HOLDING CO 174,786 0.12% 127 CATHAY REAL ESTATE DEVELOPME 40,795 0.03% 128 CAXTON AND CTP PUBLISHERS AN 20,256 0.01% 129 CEAT LTD 56,335 0.04% 130 CEBU AIR INC 41,232 0.03% 131 CEMENTOS ARGOS SA 31,149 0.02% 132 CEMEX SAB CPO 365,835 0.25% 133 CEMEX SAB SPONS ADR PART CER 289,807 0.20% 134 CENCOSUD SA 74,235 0.05% 135 CENCOSUD SA ADR 173,349 0.12% 136 CENTRAL BANK OF INDIA 6,788 0.00% 137 CENTURY TEXTILES & INDS LTD 36,744 0.02% 138 CEZ AS 328,805 0.22% 139 CHANG HWA COMMERCIAL BANK 256,494 0.17% 140 CHAODA MODERN AGRICULTURE 1,987 0.00% 141 CHAROEN POKPHAND FOOD FORGN 214,072 0.14% 142 CHENG LOONG CORP 39,392 0.03% 143 CHENG UEI PRECISION INDUSTRY 86,635 0.06% 144 CHIA HSIN CEMENT 6,376 0.00% 145 CHILEAN PESO 5,484 0.00% 146 CHIN POON INDUSTRIAL CO LTD 88,577 0.06% 147 CHINA AEROSPACE INTL HLDG 43,084 0.03% 148 CHINA AGRI INDUSTRIES HLDGS 57,559 0.04% 149 CHINA AIRLINES LTD 154,210 0.10% 150 CHINA BANKING CORP 6,957 0.00% 151 CHINA BILLS FINANCE CORP 38,344 0.03% 152 CHINA BLUECHEMICAL LTD H 52,273 0.04% 153 CHINA CITIC BANK CORP LTD H 290,834 0.20% 154 CHINA COAL ENERGY CO H 83,261 0.06% 155 CHINA COMMUNICATIONS CONST H 169,426 0.11% 156 CHINA COMMUNICATIONS SERVI H 114,388 0.08% 157 CHINA CONSTRUCTION BANK H 4,460,241 3.01% 158 CHINA DEVELOPMENT FINANCIAL 298,529 0.20% 159 CHINA EVERBRIGHT BANK CO L H 56,578 0.04% 160 CHINA EVERBRIGHT LTD 96,681 0.07% 161 CHINA GALAXY SECURITIES CO H 37,155 0.03% 162 CHINA HIGH SPEED TRANSMISSIO 63,607 0.04% 163 CHINA HONGQIAO GROUP LTD 96,661 0.07% 164 CHINA JINMAO HOLDINGS GROUP 129,935 0.09% # Asset Name Market Value % of Portfolio 165 CHINA LIFE INSURANCE CO LTD 395,081 0.27% 166 CHINA LUMENA NEW MATERIALS 0 0.00% 167 CHINA MERCHANTS BANK H 369,943 0.25% 168 CHINA MERCHANTS HLDGS INTL 121,987 0.08% 169 CHINA MINSHENG BANKING H 230,899 0.16% 170 CHINA MOTOR CORP 47,034 0.03% 171 CHINA NATIONAL BUILDING MA H 189,627 0.13% 172 CHINA NATIONAL MATERIALS H 23,107 0.02% 173 CHINA OVERSEAS GRAND OCEANS 32,787 0.02% 174 CHINA PETROLEUM & CHEM ADR 660,800 0.45% 175 CHINA PETROLEUM & CHEMICAL H 278,614 0.19% 176 CHINA RESOURCES BEER HOLDIN 172,832 0.12% 177 CHINA RESOURCES CEMENT 51,192 0.03% 178 CHINA SHANSHUI CEMENT GROUP 38,064 0.03% 179 CHINA SHENHUA ENERGY CO H 301,456 0.20% 180 CHINA SHIPPING CONTAINER H 19,565 0.01% 181 CHINA SINGYES SOLAR TECH 21,561 0.01% 182 CHINA SOUTH CITY HOLDINGS 45,538 0.03% 183 CHINA SOUTHERN AIRLINES CO H 75,618 0.05% 184 CHINA STEEL CORP 1,056,770 0.71% 185 CHINA SYNTHETIC RUBBER 43,082 0.03% 186 CHINA TRAVEL INTL INV HK 87,494 0.06% 187 CHINA UNICOM HONG KONG ADR 666,966 0.45% 188 CHINA UNICOM HONG KONG LTD 161,124 0.11% 189 CHINA YURUN FOOD GROUP LTD 4,897 0.00% 190 CHINA ZHENGTONG AUTO SERVICE 42,031 0.03% 191 CHINA ZHONGWANG HOLDINGS LTD 79,086 0.05% 192 CHIPBOND TECHNOLOGY CORP 98,438 0.07% 193 CHOLAMANDALAM INVESTMENT AND 13,246 0.01% 194 CHONGQING RURAL COMMERCIAL H 137,057 0.09% 195 CHUNG HUNG STEEL CORP 15,184 0.01% 196 CHUNG HWA PULP 23,534 0.02% 197 CIA BRASILEIRA DE DIS PREF 193,024 0.13% 198 CIA SIDERURGICA NACIONAL SA 103,069 0.07% 199 CIFI HOLDINGS GROUP CO LTD 10,268 0.01% 200 CIMB GROUP HOLDINGS BHD 404,862 0.27% 201 CIPUTRA DEVELOPMENT TBK PT 195,016 0.13% 202 CITIC LTD 835,032 0.56% 203 CITIC RESOURCES HOLDINGS LTD 15,677 0.01% 204 CJ E&M CORP 91,285 0.06% 205 CLEVO COMPANY 68,196 0.05% 206 CMC MAGNETICS CORP 30,373 0.02% 207 CNOOC LTD 926,742 0.63% 208 COASTAL CONTRACTS BHD 23,742 0.02% 209 COCA COLA FEMSA SAB SER L 319,588 0.22% 210 COCA COLA FEMSA SAB SP ADR 165,058 0.11% 211 COLOMBIAN PESO 36,371 0.02% 212 COMPAL ELECTRONICS 364,965 0.25% 213 COMPEQ MANUFACTURING CO LTD 79,213 0.05% 214 CONTAINER CORP OF INDIA LTD 58,491 0.04% 215 CONTINENTAL HOLDINGS CORP 12,492 0.01% 216 CONTROLADORA COML MEXIC UBC 102,398 0.07% 217 COOLPAD GROUP LTD 21,600 0.01% 218 CORETRONIC CORP 67,321 0.05% 219 COROMANDEL INTERNATIONAL LTD 21,414 0.01% 220 CORPORATION BANK 470 0.00% 221 COSAN SA INDUSTRIA COMERCIO 95,545 0.06% 222 COSCO CAPITAL INC 29,712 0.02% # Asset Name Market Value % of Portfolio 223 COSCO PACIFIC LTD 157,223 0.11% 224 COUNTRY GARDEN HOLDINGS CO 223,214 0.15% 225 COX AND KINGS LTD 44,465 0.03% 226 CROMPTON GREAVES LTD 145,072 0.10% 227 CSBC CORP TAIWAN 29,375 0.02% 228 CTBC FINANCIAL HOLDING CO LT 578,382 0.39% 229 CYIENT LTD 26,080 0.02% 230 CYRELA BRAZIL REALTY SA EMP 68,057 0.05% 231 CZECH KORUNA 30.00% 232 D LINK CORP 24,180 0.02% 233 DAEDUCK ELECTRONICS CO 24,955 0.02% 234 DAELIM INDUSTRIAL CO LTD 149,245 0.10% 235 DAEWOO ENGINEERING & CONSTR 43,375 0.03% 236 DAEWOO INTERNATIONAL CORP 28,836 0.02% 237 DAEWOO SECURITIES CO LTD 59,596 0.04% 238 DAEWOO SHIPBUILDING & MARINE 55,394 0.04% 239 DAH CHONG HONG 17,613 0.01% 240 DAISHIN SECURITIES CO LTD 30,319 0.02% 241 DAOU TECHNOLOGY INC 39,043 0.03% 242 DATATEC LTD 109,997 0.07% 243 DEWAN HOUSING FINANCE CORP 125,702 0.08% 244 DGB FINANCIAL GROUP INC 121,426 0.08% 245 DLF LTD 200,758 0.14% 246 DOGAN SIRKETLER GRUBU HLDGS 43,118 0.03% 247 DONG AH TIRE & RUBBER CO LTD 31,461 0.02% 248 DONGBU INSURANCE CO LTD 205,285 0.14% 249 DONGFENG MOTOR GRP CO LTD H 225,444 0.15% 250 DONGKUK STEEL MILL CO LTD 25,274 0.02% 251 DOOSAN CORP 77,514 0.05% 252 DOOSAN HEAVY INDUSTRIES 121,908 0.08% 253 DOOSAN INFRACORE CO LTD 76,234 0.05% 254 DRB HICOM BHD 55,307 0.04% 255 DURATEX SA 37,404 0.03% 256 E MART INC 300,292 0.20% 257 E.SUN FINANCIAL HOLDING CO 395,089 0.27% 258 EAGLE HIGH PLANTATIONS TBK P 13,816 0.01% 259 ECOPETROL SA SPONSORED ADR 134,543 0.09% 260 EID PARRY INDIA LTD 21,829 0.01% 261 EIH LTD 26,648 0.02% 262 EIS ECZACIBASI ILAC VE SINAI 6,242 0.00% 263 ELITEGROUP COMPUTER SYSTEMS 36,297 0.02% 264 SA 18,361 0.01% 265 EMBRAER SA SPON ADR 330,169 0.22% 266 EMPRESA NACIONAL DE TELECOM 148,261 0.10% 267 EMPRESAS CMPC SA 241,046 0.16% 268 EMPRESAS COPEC SA 477,253 0.32% 269 EMPRESAS ICA S.A. SPONS ADR 1,425 0.00% 270 ENEA SA 73,354 0.05% 271 ENERSIS S.A. SPONS ADR 558,074 0.38% 272 ENGINEERS INDIA LTD 42,898 0.03% 273 ENTIE COMMERCIAL BANK 25,756 0.02% 274 EPISTAR CORP 100,013 0.07% 275 EREGLI DEMIR VE CELIK FABRIK 172,581 0.12% 276 ETERNAL MATERIALS CO LTD 35,729 0.02% 277 EURO CURRENCY 2,492 0.00% 278 EVA AIRWAYS CORP 96,927 0.07% 279 EVERGRANDE REAL ESTATE GROUP 456,717 0.31% 280 EVERGREEN INTERNATIONAL STOR 22,769 0.02% # Asset Name Market Value % of Portfolio 281 EVERGREEN MARINE CORP LTD 120,933 0.08% 282 EVERLIGHT ELECTRONICS CO LTD 59,602 0.04% 283 EXIDE INDUSTRIES LTD 92,367 0.06% 284 EXXARO RESOURCES LTD 56,151 0.04% 285 EZ TEC EMPREENDIMENTOS E PAR 26,583 0.02% 286 FAR EASTERN DEPARTMENT STORE 74,573 0.05% 287 FAR EASTERN INTL BANK 59,988 0.04% 288 FAR EASTERN NEW CENTURY CORP 377,339 0.25% 289 FARGLORY LAND DEVELOPMENT CO 53,930 0.04% 290 FEDERAL BANK LTD 131,891 0.09% 291 FEDERAL CORPORATION 2,520 0.00% 292 FELDA GLOBAL VENTURES 103,074 0.07% 293 FENG HSIN STEEL CO LTD 73,555 0.05% 294 FIBRIA CELULOSE SA 146,899 0.10% 295 FIBRIA CELULOSE SA SPON ADR 544,604 0.37% 296 FILINVEST DEVELOPMENT CORP 4,984 0.00% 297 FILINVEST LAND INC 55,198 0.04% 298 FIRST FINANCIAL HOLDING CO 411,748 0.28% 299 FIRST PHILIPPINE HLDGS 46,657 0.03% 300 FLEURY SA 21,434 0.01% 301 FOMENTO ECONOMICO MEX SP ADR 1,448,879 0.98% 302 FOMENTO ECONOMICO MEXICA UBD 431,213 0.29% 303 FORMOSA CHEMICALS & FIBRE 196,000 0.13% 304 FORMOSA TAFFETA CO. 61,193 0.04% 305 FORMOSAN RUBBER GROUP INC 34,262 0.02% 306 FOXCONN TECHNOLOGY CO LTD 42,374 0.03% 307 FUBON FINANCIAL HOLDING CO 1,229,168 0.83% 308 GAIL INDIA LTD 394,611 0.27% 309 GAIL INDIA LTD REG S GDR 5,239 0.00% 310 GAJAH TUNGGAL TBK PT 19,893 0.01% 311 GARUDA INDONESIA PERSERO TBK 8,977 0.01% 312 GASCO SA 1,454 0.00% 313 GAZPROM PAO SPON ADR 1,698,613 1.15% 314 GEK TERNA HOLDING REAL ESTAT 13,681 0.01% 315 GEMTEK TECHNOLOGY CORP 26,614 0.02% 316 GENIUS ELECTRONIC OPTICAL CO 16,248 0.01% 317 GENOMMA LAB INTERNACIONAL B 7,140 0.00% 318 GENTING BHD 595,440 0.40% 319 GENTING MALAYSIA BHD 426,319 0.29% 320 GERDAU S.A. 15,217 0.01% 321 GERDAU SA SPON ADR 90,252 0.06% 322 GETAC TECHNOLOGY CORP 27,468 0.02% 323 GIGABYTE TECHNOLOGY CO LTD 57,704 0.04% 324 GINTECH ENERGY CORP 50,506 0.03% 325 GLOBAL & YUASA BATTERY CO 20,520 0.01% 326 GLOBAL MEDIACOM TBK PT 86,524 0.06% 327 GLORIA MATERIAL TECHNOLOGY 14,919 0.01% 328 GLORIOUS PROPERTY HOLDINGS 26,477 0.02% 329 GOLD FIELDS LTD 8,612 0.01% 330 GOLD FIELDS LTD SPONS ADR 452,679 0.31% 331 GOLDSUN BUILDING MATERIALS C 52,788 0.04% 332 GOME ELECTRICAL APPLIANCES 56,094 0.04% 333 GRAND PACIFIC PETROCHEMICAL 79,277 0.05% 334 GREAT EASTERN SHIPPING CO 64,802 0.04% 335 GREAT WALL ENTERPRISES 41,782 0.03% 336 GREATEK ELECTRONICS INC 36,017 0.02% 337 GREEN ENERGY TECHNOLOGY INC 28,541 0.02% 338 GREENTOWN CHINA HOLDINGS 75,215 0.05% # Asset Name Market Value % of Portfolio 339 GRINDROD LTD 56,441 0.04% 340 GRUPA AZOTY SA 122,110 0.08% 341 GRUPA LOTOS SA 30,506 0.02% 342 GRUPO AEROMEXICO SAB DE CV 12,442 0.01% 343 GRUPO AEROPORTUARIO PAC ADR 388,432 0.26% 344 GRUPO AEROPORTUARIO SUR ADR 205,378 0.14% 345 GRUPO ARGOS SA 158,805 0.11% 346 GRUPO ARGOS SA PRF 42,940 0.03% 347 GRUPO CARSO SAB DE CV SER A1 200,181 0.14% 348 GRUPO COMERCIAL CHEDRAUI SA 144,744 0.10% 349 GRUPO DE INV SURAMERICANA 253,189 0.17% 350 GRUPO DE INV SURAMERICANA PF 119,851 0.08% 351 GRUPO ELEKTRA SAB DE CV 98,677 0.07% 352 GRUPO FIN INTERACCIONES O 42,022 0.03% 353 GRUPO FIN SANTANDER B 404,434 0.27% 354 GRUPO FINANCIERO BANORTE O 1,379,478 0.93% 355 GRUPO FINANCIERO INBURSA O 219,333 0.15% 356 GRUPO MEXICO SAB DE CV SER B 1,127,098 0.76% 357 GRUPO NUTRESA SA 62,512 0.04% 358 GRUPO SANBORNS SAB DE CV 74,695 0.05% 359 GRUPO SECURITY SA 35,876 0.02% 360 GRUPO SIMEC S.A. SER B 20,377 0.01% 361 GS ENGINEERING & CONSTRUCT 84,791 0.06% 362 GS HOLDINGS 231,978 0.16% 363 GUANGSHEN RAILWAY SPONS ADR 86,520 0.06% 364 GUANGZHOU R&F PROPERTIES H 178,430 0.12% 365 GUARARAPES CONFECCOES SA 13,953 0.01% 366 GUDANG GARAM TBK PT 93,362 0.06% 367 GUJARAT FLUOROCHEMICALS LTD 48,607 0.03% 368 GUJARAT STATE PETRONET LTD 68,884 0.05% 369 HALLA HOLDINGS CORP 24,441 0.02% 370 HANA FINANCIAL GROUP 488,444 0.33% 371 HANA MICROELECTRONICS FOREIG 43,613 0.03% 372 HANDSOME CO LTD 68,212 0.05% 373 HANIL CEMENT CO LTD 27,802 0.02% 374 HANJIN KAL CORP 49,392 0.03% 375 HANJIN TRANSPORTATION CO 15,196 0.01% 376 CO LTD 157,335 0.11% 377 HANNSTAR DISPLAY CORP 52,555 0.04% 378 HANSOL HOLDINGS CO LTD 10,883 0.01% 379 HANSOL PAPER CO LTD 19,765 0.01% 380 HANSON INTERNATIONAL TBK PT 9,158 0.01% 381 HANWHA CHEMICAL CORP 199,961 0.14% 382 HANWHA CORPORATION 192,875 0.13% 383 HANWHA LIFE INSURANCE CO LTD 199,474 0.13% 384 HANWHA TECHWIN CO LTD 68,186 0.05% 385 HAP SENG CONSOLIDATED 126,627 0.09% 386 HAP SENG PLANTATIONS HLDGS 10,956 0.01% 387 HARBIN ELECTRIC CO LTD H 25,571 0.02% 388 HARMONY GOLD MNG SPON ADR 32,857 0.02% 389 SA 39,672 0.03% 390 HENGDELI HOLDINGS LTD 6,415 0.00% 391 HEY SONG CORP 18,850 0.01% 392 HIMACHAL FUTURISTIC COMMUN 34,562 0.02% 393 HINDALCO INDUSTRIES LTD 268,208 0.18% 394 HO TUNG CHEMICAL CORP 22,721 0.02% 395 HOLCIM INDONESIA TBK PT 22,231 0.02% 396 HOLY STONE ENTERPRISE CO LTD 18,506 0.01% # Asset Name Market Value % of Portfolio 397 HON HAI PRECISION INDUSTRY 558,026 0.38% 398 HONG KONG DOLLAR 1,251 0.00% 399 HONG LEONG FINANCIAL GROUP 115,494 0.08% 400 HONG LEONG INDUSTRIES BHD 13,673 0.01% 401 HOPSON DEVELOPMENT HOLDINGS 57,775 0.04% 402 HTC CORP 151,977 0.10% 403 HUA NAN FINANCIAL HOLDINGS C 255,347 0.17% 404 HUAKU DEVELOPMENT CO LTD 48,415 0.03% 405 HUISHANG BANK CORP LTD H 28,986 0.02% 406 HUMAX CO LTD 20,153 0.01% 407 HUNG SHENG CONSTRUCTION LTD 26,471 0.02% 408 HUNGARIAN FORINT 324 0.00% 409 HYOSUNG CORPORATION 238,397 0.16% 410 HYPERMARCAS SA 278,217 0.19% 411 HYUNDAI DEPT STORE CO 103,138 0.07% 412 HYUNDAI ENGINEERING & CONST 210,567 0.14% 413 HYUNDAI HEAVY INDUSTRIES 261,629 0.18% 414 HYUNDAI HOME SHOPPING NETWOR 34,575 0.02% 415 HYUNDAI HY COMMUNICATIONS & 11,863 0.01% 416 HYUNDAI MARINE & FIRE INS CO 83,104 0.06% 417 CO LTD 556,047 0.38% 418 HYUNDAI MOTOR CO 2,690,018 1.82% 419 COMPANY 35,146 0.02% 420 HYUNDAI SECURITIES CO 76,233 0.05% 421 CO 400,989 0.27% 422 CORP 157,796 0.11% 423 ICHIA TECHNOLOGIES INC 11,759 0.01% 424 ICICI BANK LTD 1,172,610 0.79% 425 ICICI BANK LTD SPON ADR 586,859 0.40% 426 IDBI BANK LTD 21,823 0.01% 427 IDEA CELLULAR LTD 421,829 0.28% 428 IDFC BANK LTD 26,290 0.02% 429 IDFC LTD 20,850 0.01% 430 IFCI LTD 55,107 0.04% 431 IIFL HOLDINGS LTD 107,992 0.07% 432 IJM CORP BHD 370,363 0.25% 433 ILLOVO SUGAR LTD 18,733 0.01% 434 IMPALA PLATINUM HOLDINGS LTD 86,504 0.06% 435 IMPERIAL HOLDINGS LTD 293,287 0.20% 436 IND & COMM BK OF CHINA H 2,809,793 1.90% 437 INDAH KIAT PULP & PAPER TBK 23,866 0.02% 438 INDIABULLS HOUSING FINANCE L 249,996 0.17% 439 INDIAN BANK 21,317 0.01% 440 INDIAN HOTELS CO LTD 83,985 0.06% 441 INDIAN RUPEE 21,027 0.01% 442 INDO TAMBANGRAYA MEGAH TBK P 26,953 0.02% 443 INDOFOOD SUKSES MAKMUR TBK P 370,866 0.25% 444 INDONESIAN RUPIAH 5,377 0.00% 445 INDORAMA VENTURES FOREIGN 226,821 0.15% 446 INDUSTRIAL BANK OF KOREA 336,148 0.23% 447 INDUSTRIAS BACHOCO SAB SP AD 80,688 0.05% 448 INDUSTRIAS BACHOCO SER B 13,450 0.01% 449 INDUSTRIAS CH S.A.B. SER B 63,374 0.04% 450 INDUSTRIAS PENOLES SAB DE CV 118,437 0.08% 451 INNOLUX CORP 440,534 0.30% 452 INOTERA MEMORIES INC 369,297 0.25% 453 INTILAND DEVELOPMENT TBK PT 48,609 0.03% 454 INTIME RETAIL GROUP CO LTD 3,450 0.00% # Asset Name Market Value % of Portfolio 455 INVENTEC CO LTD 238,995 0.16% 456 INVERSIONES AGUAS METROPOL 51,127 0.03% 457 INVESTEC LTD 197,171 0.13% 458 IOCHPE MAXION S.A. 32,324 0.02% 459 IOI PROPERTIES GROUP BHD 67,707 0.05% 460 IRPC PCL FOREIGN 137,777 0.09% 461 JAIN IRRIGATION SYSTEMS LTD 46,654 0.03% 462 JAIPRAKASH ASSOCIATES LTD 32,751 0.02% 463 JAMMU & KASHMIR BANK LTD 30,696 0.02% 464 JAPFA COMFEED INDONES TBK PT 26,045 0.02% 465 JAYA TIASA HOLDINGS BHD 16,790 0.01% 466 JAYPEE INFRATECH LTD 8,206 0.01% 467 JB FINANCIAL GROUP CO LTD 28,421 0.02% 468 JBS SA 333,276 0.23% 469 JG SUMMIT HOLDINGS INC 637,058 0.43% 470 JIANGXI COPPER CO LTD H 109,093 0.07% 471 JIH SUN FINANCIAL HOLDINGS 49,010 0.03% 472 JINDAL STEEL & POWER LTD 124,179 0.08% 473 JSW ENERGY LTD 150,057 0.10% 474 JSW STEEL LTD 281,450 0.19% 475 JU TENG INTERNATIONAL HLDGS 26,663 0.02% 476 JUBILANT LIFE SCIENCES LTD 83,358 0.06% 477 KAISA GROUP HOLDINGS LTD 12,983 0.01% 478 KAP INDUSTRIAL HOLDINGS LTD 41,893 0.03% 479 KARDEMIR KARABUK DEMIR CL D 17,538 0.01% 480 KARNATAKA BANK LTD 31,841 0.02% 481 KARUR VYSYA BANK LTD 32,457 0.02% 482 KB FINANCIAL GROUP INC 5,796 0.00% 483 KB FINANCIAL GROUP INC ADR 877,320 0.59% 484 KB INSURANCE CO LTD 109,324 0.07% 485 KCC CORP 119,637 0.08% 486 KERNEL HOLDING SA 99,323 0.07% 487 KGHM POLSKA MIEDZ SA 420,191 0.28% 488 MOTORS CORP 1,120,276 0.76% 489 KIATNAKIN BANK PCL FOR 56,312 0.04% 490 KINDOM CONSTRUCTION CORP 21,034 0.01% 491 KING S TOWN BANK 73,377 0.05% 492 KING YUAN ELECTRONICS CO LTD 121,439 0.08% 493 KINGBOARD CHEMICAL HOLDINGS 119,612 0.08% 494 KINGBOARD LAMINATES HOLDINGS 22,710 0.02% 495 KINPO ELECTRONICS INC 67,291 0.05% 496 KINSUS INTERCONNECT TECH 89,615 0.06% 497 KISWIRE LTD 27,294 0.02% 498 KNM GROUP BHD 30,689 0.02% 499 KOC HOLDING AS 139,398 0.09% 500 KOLON INDUSTRIES INC 103,207 0.07% 501 KOREA INVESTMENT HOLDINGS CO 173,175 0.12% 502 KOREA LINE CORP 49,925 0.03% 503 KOREAN AIR LINES CO LTD 52,421 0.04% 504 KOREAN REINSURANCE CO 82,893 0.06% 505 KOTAK MAHINDRA BANK LTD 12,075 0.01% 506 KOZA ANADOLU METAL MADENCILI 5,716 0.00% 507 KPIT TECHNOLOGIES LTD 6,354 0.00% 508 KROTON EDUCACIONAL SA 467,928 0.32% 509 KRUNG THAI BANK PUB CO FOREI 352,320 0.24% 510 KSL HOLDINGS BHD 28,319 0.02% 511 KULIM MALAYSIA BHD 61,553 0.04% 512 KUMBA IRON ORE LTD 6,279 0.00% # Asset Name Market Value % of Portfolio 513 CO INC 29,743 0.02% 514 KUNLUN ENERGY CO LTD 263,534 0.18% 515 KWANGJU BANK 7,016 0.00% 516 KWG PROPERTY HOLDING LTD 109,244 0.07% 517 L&T FINANCE HOLDINGS LTD 76,768 0.05% 518 LARSEN & TOUBRO LTD 841,486 0.57% 519 LATAM AIRLINES GROUP SP ADR 265,635 0.18% 520 LCY CHEMICAL CORP 61,748 0.04% 521 LEALEA ENTERPRISE 16,803 0.01% 522 LEXTAR ELECTRONICS CORP 20,946 0.01% 523 LF CORP 57,106 0.04% 524 LG CHEM LTD 107,581 0.07% 525 LG CORP 560,640 0.38% 526 LG DISPLAY CO LTD 87,099 0.06% 527 LG DISPLAY CO LTD ADR 579,504 0.39% 528 LG ELECTRONICS INC 758,169 0.51% 529 LG INTERNATIONAL CORP 87,343 0.06% 530 LG UPLUS CORP 209,632 0.14% 531 LI PENG ENTERPRISE CO LTD 23,112 0.02% 532 LIBERTY HOLDINGS LTD 207,086 0.14% 533 LIC HOUSING FINANCE LTD 487,045 0.33% 534 LIEN HWA INDUSTRIAL 37,796 0.03% 535 LIPPO CIKARANG PT 39,129 0.03% 536 LIPPO KARAWACI TBK PT 241,618 0.16% 537 LITE ON TECHNOLOGY CORP 363,976 0.25% 538 LONG CHEN PAPER 24,966 0.02% 539 LONGFOR PROPERTIES 154,381 0.10% 540 LOPEZ HOLDINGS CORP 785 0.00% 541 LOTTE CHEMICAL CORP 223,657 0.15% 542 LOTTE CHILSUNG BEVERAGE CO 105,978 0.07% 543 LOTTE CONFECTIONERY CO LTD 124,392 0.08% 544 LOTTE HIMART CO LTD 24,505 0.02% 545 LOTTE SHOPPING CO 228,822 0.15% 546 LS CORP 70,304 0.05% 547 LT GROUP INC 69,165 0.05% 548 LUBELSKI WEGIEL BOGDANKA SA 8,153 0.01% 549 LUKOIL PJSC SPON ADR 726,239 0.49% 550 MAANSHAN IRON & STEEL H 24,846 0.02% 551 MACRONIX INTERNATIONAL 83,973 0.06% 552 MAGNESITA REFRATARIOS SA 5,498 0.00% 553 MAGNITOGORS SPON GDR REGS 39,807 0.03% 554 MAGNITOGORS SPON GDR REGS 8,821 0.01% 555 MAGNUM BHD 50,334 0.03% 556 MAH SING GROUP BHD 69,531 0.05% 557 MAHINDRA & MAHINDRA FIN SECS 194,538 0.13% 558 MAHINDRA & MAHINDRA LTD 859,392 0.58% 559 MAHLE METAL LEVE SA 19,393 0.01% 560 MALAYAN BANKING BHD 65,480 0.04% 561 MALAYSIA AIRPORTS HLDGS BHD 133,799 0.09% 562 MALAYSIA BUILDING SOCIETY 12,841 0.01% 563 MALAYSIAN RESOURCES CORP BHD 50,204 0.03% 564 MALAYSIAN RINGGIT 6,928 0.00% 565 MANDO CORP 37,262 0.03% 566 MAOYE INTERNATIONAL HLDGS 9,628 0.01% 567 HOLD 3,491 0.00% 568 MASTERLINK SECURITIES CORP 33,274 0.02% 569 MBK PCL FOREIGN 6,116 0.00% 570 MEDCO ENERGI INTERNASIONAL T 21,898 0.01% # Asset Name Market Value % of Portfolio 571 MEDIA PRIMA BHD 31,266 0.02% 572 MEDICLINIC INTERNATIONAL LTD 181,997 0.12% 573 MEGA FINANCIAL HOLDING CO LT 630,668 0.43% 574 MEGACABLE HOLDINGS CPO 4,827 0.00% 575 MEGAWORLD CORP 149,543 0.10% 576 MERCURIES & ASSOCIATES HOLDI 17,303 0.01% 577 MERCURIES LIFE INSURANCE CO 40,346 0.03% 578 METAIR INVESTMENTS LTD 15,825 0.01% 579 METALLURGICAL CORP OF CHIN H 22,947 0.02% 580 METROPOLITAN BANK & TRUST 65,450 0.04% 581 MEXICAN PESO (NEW) 79 0.00% 582 MEXICHEM SAB DE CV 267,006 0.18% 583 MICRO STAR INTERNATIONAL CO 130,606 0.09% 584 MINGFA GROUP INTERNATIONAL 23,366 0.02% 585 MIRAE ASSET SECURITIES CO LT 111,228 0.08% 586 MISC BHD 294,882 0.20% 587 MITAC HOLDINGS CORP 34,966 0.02% 588 MMC CORP BHD 79,203 0.05% 589 MMG LTD 16,578 0.01% 590 MMI HOLDINGS LTD 283,129 0.19% 591 MNC INVESTAMA TBK PT 61,980 0.04% 592 MODERNLAND REALTY TBK PT 34,342 0.02% 593 MOL HUNGARIAN OIL AND GAS PL 187,447 0.13% 594 MONDI LTD 382,493 0.26% 595 MOTECH INDUSTRIES INC 46,787 0.03% 596 MPACT LTD 26,112 0.02% 597 MPHASIS LTD 131,969 0.09% 598 MRF LTD 96,818 0.07% 599 MRV ENGENHARIA 128,175 0.09% 600 MTN GROUP LTD 335,529 0.23% 601 MULTIPOLAR TBK PT 24,115 0.02% 602 MURRAY & ROBERTS HOLDINGS 21,439 0.01% 603 MUTHOOT FINANCE LTD 29,407 0.02% 604 S.A. 64,197 0.04% 605 NAMYANG DAIRY PRODUCTS CO 16,364 0.01% 606 NAN YA PRINTED CIRCUIT BOARD 24,718 0.02% 607 NATIONAL ALUMINIUM CO LTD 51,176 0.03% 608 NCC LTD 67,389 0.05% 609 NEDBANK GROUP LTD 237,345 0.16% 610 NEO SOLAR POWER CORP 59,130 0.04% 611 NETIA SA 50,784 0.03% 612 NEW ISRAELI SHEQEL 84 0.00% 613 NEW TAIWAN DOLLAR 53,620 0.04% 614 NEW WORLD CHINA LAND LTD 218,943 0.15% 615 NH INVESTMENT & SECURITIES C 65,120 0.04% 616 NIEN HSING TEXTILE CO LTD 13,349 0.01% 617 NIIT TECHNOLOGIES LTD 58,652 0.04% 618 NINE DRAGONS PAPER HOLDINGS 116,674 0.08% 619 NONGSHIM CO LTD 37,482 0.03% 620 NORTHAM PLATINUM LTD 71,308 0.05% 621 O.S.K. HOLDINGS BHD 18,844 0.01% 622 OBEROI REALTY LTD 41,294 0.03% 623 OCI CO LTD 133,107 0.09% 624 OHL MEXICO SAB DE CV 102,271 0.07% 625 OMNIA HOLDINGS LTD 42,268 0.03% 626 ORBIS SA 24,747 0.02% 627 ORGANIZACION SORIANA S.A.B B 258,938 0.17% 628 ORIENTAL BANK OF COMMERCE 30,478 0.02% # Asset Name Market Value % of Portfolio 629 ORIENTAL HOLDINGS BERHAD 38,137 0.03% 630 ORIENTAL UNION CHEMICAL 36,993 0.02% 631 OTP BANK PLC 358,015 0.24% 632 PAN INTERNATIONAL INDUSTRIAL 13,607 0.01% 633 PANIN FINANCIAL TBK PT 7,238 0.00% 634 PARKSON HOLDINGS BHD 19,525 0.01% 635 PC JEWELLER LTD 22,546 0.02% 636 PDG REALTY SA 31 0.00% 637 PEGATRON CORP 566,077 0.38% 638 PERSISTENT SYSTEMS LTD 15,129 0.01% 639 PETROBRAS PETROLEO BRAS 720,136 0.49% 640 PETROBRAS PETROLEO BRAS PR 632,373 0.43% 641 PETROLEO BRASIL SP PREF ADR 655,809 0.44% 642 PETROLEO BRASILEIRO SPON ADR 665,687 0.45% 643 PETRON CORP 45,501 0.03% 644 PETRONET LNG LTD 110,991 0.07% 645 PGE SA 513,817 0.35% 646 PHILIPPINE NATIONAL BANK 33,979 0.02% 647 PHILIPPINE PESO 10,623 0.01% 648 S.A 158 0.00% 649 PIRAMAL ENTERPRISES LTD 101,016 0.07% 650 PKO BANK POLSKI SA 79,064 0.05% 651 PKP CARGO SA 13,434 0.01% 652 POLISH ZLOTY 214 0.00% 653 POLSKI KONCERN NAFTOWY ORLEN 788,483 0.53% 654 POLY PROPERTY GROUP CO LTD 74,461 0.05% 655 POONGSAN CORP 48,636 0.03% 656 PORTO SEGURO SA 60,400 0.04% 657 POS MALAYSIA BERHAD 13,727 0.01% 658 POSCO 169,972 0.11% 659 POSCO SPON ADR 1,089,901 0.74% 660 POU CHEN 191,748 0.13% 661 POWER FINANCE CORPORATION 196,447 0.13% 662 POWERTECH TECHNOLOGY INC 212,391 0.14% 663 PP LONDON SUMATRA INDONES PT 80,895 0.05% 664 PPB GROUP BERHAD 234,417 0.16% 665 PRECIOUS SHIPPING PCL FORGN 13,511 0.01% 666 PRESIDENT SECURITIES CORP 41,315 0.03% 667 PRESS METAL BERHAD 36,606 0.02% 668 PRESTIGE ESTATES PROJECTS 17,159 0.01% 669 PRINCE HOUSING & DEVELOPMENT 42,632 0.03% 670 PTC INDIA LTD 28,077 0.02% 671 PTT EXPLORATION & PROD FOR 540,443 0.37% 672 PTT GLOBAL CHEMICAL PCL FOR 258,480 0.17% 673 PTT PCL/FOREIGN 1,615,140 1.09% 674 QISDA CORP 105,143 0.07% 675 QUALITY HOUSE PCL FOREIGN 17,947 0.01% 676 RADIUM LIFE TECH CO LTD 35,740 0.02% 677 RCL FOODS LTD/SOUTH AFRICA 14,956 0.01% 678 REALTEK SEMICONDUCTOR CORP 45,523 0.03% 679 REDINGTON INDIA LTD 27,001 0.02% 680 RELIANCE CAPITAL LTD 59,394 0.04% 681 RELIANCE COMMUNICATIONS LTD 223,469 0.15% 682 RELIANCE INDS SPONS GDR 144A 297,738 0.20% 683 RELIANCE INDUSTRIES LTD 3,239,114 2.19% 684 RELIANCE POWER LTD 28,971 0.02% 685 RENHE COMMERCIAL HOLDINGS 33,724 0.02% 686 RHB CAPITAL BHD 132,414 0.09% # Asset Name Market Value % of Portfolio 687 RICH DEVELOPMENT CO LTD 9,337 0.01% 688 RIPLEY CORP SA 44,488 0.03% 689 RITEK CORPORATION 15,309 0.01% 690 RIZAL COMMERCIAL BANKING 36,033 0.02% 691 ROBINSONS LAND CO 186,957 0.13% 692 ROBINSONS RETAIL HOLDINGS IN 21,850 0.01% 693 ROYAL BAFOKENG PLATINUM LTD 7,307 0.00% 694 RUENTEX DEVELOPMENT CO LTD 56,221 0.04% 695 RUMO LOGISTICA OPERADORA MUL 25,394 0.02% 696 RUMO LOGISTICA OPERADORA MULTI 219 0.00% 697 RURAL ELECTRIFICATION CORP 201,020 0.14% 698 RUSHYDRO PJSC ADR 106,982 0.07% 699 S OIL CORP 159,335 0.11% 700 SALIM IVOMAS PRATAMA TBK PT 23,222 0.02% 701 SAMSUNG C&T CORP 302,077 0.20% 702 SAMSUNG CARD CO 61,987 0.04% 703 SAMSUNG ELECTRO MECHANICS CO 269,935 0.18% 704 SAMSUNG ELECTRONICS CO LTD 305,181 0.21% 705 SAMSUNG FINE CHEMICALS CO 40,107 0.03% 706 SAMSUNG HEAVY INDUSTRIES 135,913 0.09% 707 SAMSUNG LIFE INSURANCE CO LT 648,808 0.44% 708 SAMSUNG SDI CO LTD PFD 399,688 0.27% 709 SAMSUNG SECURITIES CO LTD 29,945 0.02% 710 SAMYANG HOLDINGS CORP 63,868 0.04% 711 SAN MIGUEL CORP 102,674 0.07% 712 SANLAM LTD 96,923 0.07% 713 SANSIRI PUBLIC CO LTD FORGN 40,162 0.03% 714 SANYANG MOTOR CO LTD 384 0.00% 715 SAO MARTINHO SA 59,028 0.04% 716 SAPPI LIMITED 290,022 0.20% 717 SAPPI LTD SPONSORED ADR 181,440 0.12% 718 SAPURAKENCANA PETROLEUM BHD 265,585 0.18% 719 SASOL LTD 953,325 0.64% 720 SASOL LTD SPONSORED ADR 1,525,763 1.03% 721 SEAH BESTEEL CORP 36,955 0.02% 722 SEAH STEEL CORPORATION 5,954 0.00% 723 SECURITY BANK CORP 164,377 0.11% 724 SEKERBANK 31,555 0.02% 725 SELANGOR PROPERTIES BERHAD 8,629 0.01% 726 SELCUK ECZA DEPOSU TICARET V 9,617 0.01% 727 SEMEN INDONESIA PERSERO TBK 299,782 0.20% 728 SEMICONDUCTOR MANUFACTURING 129,967 0.09% 729 SHANDONG CHENMING PAPER H 32,168 0.02% 730 SHANGHAI INDUSTRIAL HLDG LTD 118,451 0.08% 731 SHANGHAI INDUSTRIAL URBAN DE 51,385 0.03% 732 SHENZHEN INTL HOLDINGS 57,041 0.04% 733 SHENZHEN INVESTMENT LTD 72,900 0.05% 734 SHIHLIN ELECTRIC & ENGINEER 34,113 0.02% 735 SHIMAO PROPERTY HOLDINGS LTD 263,024 0.18% 736 SHIN KONG FINANCIAL HOLDING 299,917 0.20% 737 SHIN ZU SHING CO LTD 61,619 0.04% 738 SHINHAN FINANCIAL GROUP ADR 819,932 0.55% 739 SHINHAN FINANCIAL GROUP LTD 391,942 0.26% 740 SHINING BUILDING BUSINESS CO 21,240 0.01% 741 SHINKONG SYNTHETIC FIBERS 54,292 0.04% 742 SHINSEGAE CO LTD 175,558 0.12% 743 SHOUGANG FUSHAN RESOURCES GR 22,710 0.02% 744 SHRIRAM CITY UNION FINANCE 20,116 0.01% # Asset Name Market Value % of Portfolio 745 SHRIRAM TRANSPORT FINANCE 260,719 0.18% 746 SIBANYE GOLD SPON ADR 92,300 0.06% 747 SIBANYE GOLD LTD 150,219 0.10% 748 SIGDO KOPPERS SA 12,026 0.01% 749 SIGURD MICROELECTRONICS CORP 35,901 0.02% 750 SINAR MAS MULTIARTHA PT 2,748 0.00% 751 SINCERE NAVIGATION 16,563 0.01% 752 SINO AMERICAN SILICON PRODUC 132,364 0.09% 753 SINO OCEAN LAND HOLDINGS 132,241 0.09% 754 SINOPAC FINANCIAL HOLDINGS 240,753 0.16% 755 SINOPEC ENGINEERING GROUP H 36,730 0.02% 756 SINOTRANS LIMITED H 65,643 0.04% 757 SINOTRANS SHIPPING LTD 10,181 0.01% 758 SINOTRUK HONG KONG LTD 23,768 0.02% 759 SINTEX INDUSTRIES LTD 79,305 0.05% 760 SK GAS LTD 36,981 0.02% 761 SK HOLDINGS CO LTD 392,578 0.27% 762 SK INNOVATION CO LTD 615,436 0.42% 763 SK NETWORKS CO LTD 64,894 0.04% 764 SKC CO LTD 42,288 0.03% 765 SKYWORTH DIGITAL HLDGS LTD 84,610 0.06% 766 SL CORP 7,827 0.01% 767 SLC AGRICOLA SA 35,364 0.02% 768 SOBHA LTD 28,612 0.02% 769 SOCIEDAD MATRIZ SAAM SA 15,210 0.01% 770 SOHO CHINA LTD 99,722 0.07% 771 SOLAR APPLIED MATERIALS TECH 14,423 0.01% 772 SOUTH AFRICAN RAND 67,105 0.05% 773 SOUTH INDIAN BANK LTD 19,865 0.01% 774 SOUTH KOREAN WON 69,986 0.05% 775 SP SETIA BHD 65,216 0.04% 776 SRF LTD 50,811 0.03% 777 SRI REJEKI ISMAN TBK PT 28,132 0.02% 778 SSANGYONG CEMENT IND 38,463 0.03% 779 SSGA FDS, 0.022%, 12/31/2030 674,000 0.46% 780 SSGA FDS, 0.108%, 12/31/2030 10.00% 781 STANDARD BANK GROUP LTD 993,964 0.67% 782 STAR MEDIA GROUP BHD 1,199 0.00% 783 STATE BANK OF INDI GDR REG S 94,500 0.06% 784 STATE BANK OF INDIA 484,171 0.33% 785 STEINHOFF INTERNATIONAL H NV 1,778,372 1.20% 786 SUL AMERICA SA UNITS 127,007 0.09% 787 SUNAC CHINA HOLDINGS LTD 24,774 0.02% 788 SUNGWOO HITECH CO LTD 44,599 0.03% 789 SUNWAY BHD 97,992 0.07% 790 SUNWAY CONSTRUCTION GROUP BHD 5,172 0.00% 791 SUPERMAX CORP BHD 53,730 0.04% 792 SUZANO PAPEL E CELULO PREF A 335,889 0.23% 793 SYNDICATE BANK 25,722 0.02% 794 SYNNEX TECHNOLOGY INTL CORP 150,263 0.10% 795 TA ANN HOLDINGS BERHAD 32,504 0.02% 796 TA CHEN STAINLESS PIPE CO 35,140 0.02% 797 TA CHONG BANK LTD 71,404 0.05% 798 TA ENTERPRISE BERHAD 19,429 0.01% 799 TA GLOBAL BHD 3,494 0.00% 800 TAEKWANG INDUSTRIAL CO LTD 33,466 0.02% 801 TAEYOUNG ENGINEERING & CONST 22,124 0.01% 802 TAICHUNG COMMERCIAL BANK 50,044 0.03% # Asset Name Market Value % of Portfolio 803 TAINAN SPINNING 61,572 0.04% 804 TAISHIN FINANCIAL HOLDING 332,221 0.22% 805 TAIWAN BUSINESS BANK 110,589 0.07% 806 TAIWAN CEMENT 433,658 0.29% 807 TAIWAN COOPERATIVE FINANCIAL 221,229 0.15% 808 TAIWAN FERTILIZER CO LTD 114,024 0.08% 809 TAIWAN GLASS IND CORP 58,745 0.04% 810 TAIWAN HON CHUAN ENTERPRISE 53,060 0.04% 811 TAIWAN PCB TECHVEST CO LTD 6,969 0.00% 812 TAIWAN SURFACE MOUNTING TECH 24,421 0.02% 813 TAIWAN TEA CORP 35,924 0.02% 814 TAMBANG BATUBARA BUKIT ASAM 41,984 0.03% 815 TAN CHONG MOTOR HOLDINGS BHD 5,791 0.00% 816 TATA CHEMICALS LTD 79,926 0.05% 817 TATA GLOBAL BEVERAGES LTD 166,839 0.11% 818 TATA MOTORS LTD 964,512 0.65% 819 TATA STEEL LTD 295,070 0.20% 820 TATUNG CO LTD 55,004 0.04% 821 TAURON POLSKA ENERGIA SA 126,119 0.09% 822 TCC INTL HLDGS LTD 17,713 0.01% 823 TECO ELECTRIC & MACHINERY 197,768 0.13% 824 TEKFEN HOLDING AS 36,398 0.02% 825 TELKOM SA SOC LTD 235,960 0.16% 826 TEST RITE INTERNATIONAL CO 22,906 0.02% 827 THAI AIRWAYS INTL PCL FOR 42,133 0.03% 828 THAI OIL PCL FRGN 152,047 0.10% 829 THAILAND BAHT 54,404 0.04% 830 THANACHART CAPITAL FOREIGN 82,362 0.06% 831 THORESEN THAI AGENCIES FOR 35,826 0.02% 832 TIAN AN CHINA INVESTMENT 5,652 0.00% 833 TIANJIN PORT DVLP HLDS LTD 11,652 0.01% 834 TIMAH PERSERO TBK PT 27,929 0.02% 835 TIME DOTCOM BHD 102,631 0.07% 836 TISCO FINANCIAL FOREIGN 24,607 0.02% 837 TITAN CEMENT CO. S.A. 5,722 0.00% 838 TON YI INDUSTRIAL CORP 57,722 0.04% 839 TONG HSING ELECTRONIC INDUST 39,696 0.03% 840 TONG YANG INDUSTRY 104,707 0.07% 841 TONGAAT HULETT LTD 121,290 0.08% 842 TONGYANG LIFE INSURANCE 37,656 0.03% 843 TOP FRONTIER INVESTMENT HOLD 12,398 0.01% 844 TPI POLENE PUB CO LTD FOR 62,367 0.04% 845 TPK HOLDING CO LTD 87,908 0.06% 846 TRAKYA CAM SANAYII AS 34,030 0.02% 847 TRAVELLERS INTERNATIONAL HOT 17,187 0.01% 848 TRENCOR LTD 46,287 0.03% 849 TRIPOD TECHNOLOGY CORP 97,178 0.07% 850 TROPICANA CORP BHD 14,321 0.01% 851 TSRC CORP 55,348 0.04% 852 TUBE INVESTMENTS OF INDIA 57,798 0.04% 853 TUNG HO STEEL ENTERPRISE COR 61,589 0.04% 854 TURK HAVA YOLLARI AO 259,588 0.18% 855 TURK SISE VE CAM FABRIKALARI 138,407 0.09% 856 TURKISH LIRA 615 0.00% 857 TURKIYE GARANTI BANKASI 231,837 0.16% 858 TURKIYE HALK BANKASI 330,888 0.22% 859 TURKIYE IS BANKASI C 336,017 0.23% 860 TURKIYE SINAI KALKINMA BANK 00.00% # Asset Name Market Value % of Portfolio 861 TURKIYE VAKIFLAR BANKASI T D 163,252 0.11% 862 TV AZTECA SAB DE CV CPO 14,718 0.01% 863 TV18 BROADCAST LTD 77,500 0.05% 864 TXC CORP 19,646 0.01% 865 U MING MARINE TRANSPORT CORP 38,133 0.03% 866 UEM SUNRISE BHD 58,850 0.04% 867 UMW HOLDINGS BHD 27,128 0.02% 868 UMW OIL & GAS CORP BHD 27,538 0.02% 869 UNID CO LTD 8,847 0.01% 870 UNIMICRON TECHNOLOGY CORP 83,665 0.06% 871 UNION BANK OF INDIA 83,814 0.06% 872 UNION BANK OF PHILIPPINES 3,140 0.00% 873 UNION BANK OF TAIWAN 41,923 0.03% 874 UNIPETROL AS 67,129 0.05% 875 UNISEM (M) BERHAD 45,399 0.03% 876 UNITED MICROELECTRONICS CORP 773,407 0.52% 877 UNITED TRACTORS TBK PT 388,553 0.26% 878 UNIVERSAL CEMENT 30,840 0.02% 879 UOA DEVELOPMENT BHD 44,093 0.03% 880 UPC TECHNOLOGY CORP 36,728 0.02% 881 UPL LTD 442,985 0.30% 882 USI CORP 50,263 0.03% 883 USINAS SIDER MINAS GER PF A 16,036 0.01% 884 USINAS SIDERURGICAS DE MINAS 8,637 0.01% 885 VALE INDONESIA TBK 43,031 0.03% 886 VALE SA 681,084 0.46% 887 VALE SA PREF 755,796 0.51% 888 VARDHMAN TEXTILES LTD 19,020 0.01% 889 VEDANTA LTD 276,663 0.19% 890 VEDANTA LTD ADR 82,672 0.06% 891 VIDEOCON INDUSTRIES LTD 6,351 0.00% 892 VINYTHAI PUBLIC CO LTD FOREI 10,925 0.01% 893 VISTA LAND & LIFESCAPES INC 81,407 0.05% 894 WAH LEE INDUSTRIAL CORP 33,945 0.02% 895 WAH SEONG CORP BHD 795 0.00% 896 WALSIN LIHWA CORP 89,608 0.06% 897 WAN HAI LINES LTD 23,141 0.02% 898 WCT HOLDINGS BHD 59,620 0.04% 899 WEI CHUAN FOODS 21,844 0.01% 900 WILSON BAYLY HOLMES OVCON 13,226 0.01% 901 WIN SEMICONDUCTORS CORP 79,669 0.05% 902 WINBOND ELECTRONICS CORP 93,440 0.06% 903 WIPRO LTD 480,612 0.32% 904 WISDOM MARINE LINES CO LTD 55,178 0.04% 905 WISTRON CORP 224,105 0.15% 906 WOCKHARDT LTD 95,200 0.06% 907 WOORI BANK 106,467 0.07% 908 WOORI BANK SPON ADR 69,676 0.05% 909 WPG HOLDINGS CO LTD 221,175 0.15% 910 WT MICROELECTRONICS CO LTD 65,620 0.04% 911 XL AXIATA TBK PT 85,392 0.06% 912 YAGEO CORPORATION 134,714 0.09% 913 YANG MING MARINE TRANSPORT 50,098 0.03% 914 YANZHOU COAL MINING CO H 30,828 0.02% 915 YAPI VE KREDI BANKASI 113,245 0.08% 916 YES BANK LTD 342,311 0.23% 917 YFY INC 48,759 0.03% 918 YIEH PHUI ENTERPRISE CO LTD 32,283 0.02% # Asset Name Market Value % of Portfolio 919 YINGDE GASES GROUP CO LTD 46,886 0.03% 920 YOUNG POONG CORPORATION 17,776 0.01% 921 YTL CORP BHD 354,702 0.24% 922 YUANTA FINANCIAL HOLDING CO 442,445 0.30% 923 YUEXIU PROPERTY CO LTD10 149,220 0.10% 924 YULON MOTOR COMPANY 102,305 0.07% 925 ZHONGSHENG GROUP HOLDINGS 9,380 0.01% 926 ZOOMLION HEAVY INDUSTRY H 21,255 0.01%

Total Market Value 148,033,256

Investing in foreign securities may involve certain additional risks, including exchange rate fluctuations, less liquidity, greater volatility and less regulation. Small company stocks may be subject to a higher degree of market risk than the securities of more established companies because they tend to be more volatile and less liquid. This information is not intended to be used as the primary basis for investment decisions, nor should it be construed as advice designed to meet the particular needs of an individual investor. The material is for your information only and is not a solicitation to buy or sell securitites mentioned. Cash holding is excluded.

SA Funds are sponsored by LWI Financial Inc. and distributed by Loring Ward Securities Inc., member FINRA/SIPC. An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the investment company can be found in the Fund’s Prospectus. To obtain a Prospectus, please contact your financial advisor, call (800) 366-7266 or visit sa-funds.net. Please read the prospectus carefully before investing. B 11-085.

Source: State Street Bank and Trust (01/2016)