Portfolio

ASSET ALLOCATION	% OF NET ASSETS
Taiwan	20.5
Hong Kong	20.4
Hong Kong 'H' shares	15.2
Equity linked securities ('A' shares)	14.0
United Kingdom	6.5
Direct	6.4
United States	6.2
Singapore	5.9
Other assets & liabilities	4.9

SECTOR ALLOCATION	% OF NET ASSETS	MSCI GOLDEN DRAGON %
Healthcare	21.3	0.4
Consumer discretionary	17.4	6.1
Consumer staples	17.2	3.5
Financials	15.8	36.2
Industrials	9.8	7.0
Information technology	6.3	20.2
Materials	2.4	6.1
Energy	1.7	8.5
Utilities	1.7	3.9
Telecommunications	1.5	7.9
Other assets & liabilities	4.9	-
Total	100.0	100.0

Source: State Street Corporation/Martin Currie Inc. Figures to July 31, 2010.

Source: State Street Corporation/Martin Currie Inc. Figures to July 31, 2010.

15 LARGEST HOLDINGS (50.4%)		%
China Medical	Healthcare	6.5
Huiyin Household Appliances	Consumer discretionary	5.6
Wumart Stores	Consumer staples	4.6
Ping An Insurance	Financials	4.2
Sinopharm Medicine Holding	Healthcare	4.1
Ugent Holdings, Ltd	Industrials	3.2
Ruentex Development Co	Financials	3.1
Shandong Weigao Group	Healthcare	3.0
China Shineway Pharmaceutical	Healthcare	2.8
Far Eastern Department Stores	Consumer discretionary	2.6
China Fishery Group	Consumer staples	2.6
Hsu Fu Chi International	Consumer staples	2.4
WuXi PharmaTech Cayman	Healthcare	1.9
Hand Enterprise Solutions	Information Technology	1.9
WPG Holding	Information Technology	1.9

Source: State Street Corporation/Martin Currie Inc. Figures to July 31, 2010.