EL FUTURO DE LA INVERSIÓN EN AMÉRICA LATINA

download EL FUTURO DE LA INVERSIÓN  EN AMÉRICA LATINA

If you can't read please download the document

description

EL FUTURO DE LA INVERSIÓN EN AMÉRICA LATINA. JESÚS GONZÁLEZ NIETO-MÁRQUEZ Noviembre 2002. OBSTÁCULOS AL DESARROLLO DE LAS EMPRESAS EN AMÉRICA LATINA. % de empresas para las cuales supone un obstáculo serio. Fuente: WBES y BID. TAMAÑO DE LAS COMPAÑÍAS COMPARACIÓN REGIONAL. 10.000. - PowerPoint PPT Presentation

Transcript of EL FUTURO DE LA INVERSIÓN EN AMÉRICA LATINA

  • EL FUTURO DE LA INVERSIN EN AMRICA LATINAJESS GONZLEZ NIETO-MRQUEZNoviembre 2002

  • OBSTCULOS AL DESARROLLO DE LAS EMPRESAS EN AMRICA LATINA % de empresas para las cuales supone un obstculo serioFuente: WBES y BID

    Grfico1

    0.07

    0.08

    0.14

    0.16

    0.34

    Hoja1

    Tasa de Cambio7%

    Inflacin8%

    Inestabilidad Poltica14%

    Impuestos y Regulaciones16%

    Financiacin34%

    Hoja1

    0

    0

    0

    0

    0

    Hoja2

    Hoja3

  • 10.000100.0001.000.00010.000.000Tamao medio de los activos de las 25 mayores compaas (USD x 1000)Fuente: WBES y BIDTAMAO DE LAS COMPAAS COMPARACIN REGIONAL

    Grfico1

    1326523

    1683048

    460338

    6280798

    1174702

    3982546

    14000000

    Hoja1

    Argentina1,326,523

    Chile1,683,048

    Mxico460,338

    Brasil6,280,798

    America Latina1,174,702

    Sudeste Asitico3,982,546

    Pases desarrollados14,000,000

    Hoja1

    1326523

    1683048

    460338

    6280798

    1174702

    3982546

    14000000

    TAMAO DE LAS COMPAIAS COMPARACION REGIONAL

    Hoja2

    Hoja3

  • Oct. 2002Latam: Flujos de capital (1990-2003E)Fuente: WBES y BID

    Grfico1

    66006100

    112008900

    1340039300

    870030700

    2280024300

    2420019800

    4030026100

    5620014400

    6060010700

    64100-20900

    61600-19200

    67200-40100

    46300-8600

    53100-7700

    Inversiones directas de capital

    Inv. en cartera +Otras inversiones

    millones USD

    Hoja1

    UnitsScaleCountryDescriptor1970A11971A11972A11973A11974A11975A11976A11977A11978A11979A11980A11981A11982A11983A11984A11985A11986A11987A11988A11989A11990A11991A11992A11993A11994A11995A11996A11997A11998A11999A12000A12001A12002A12003A1

    U.S. DollarsBillionsWestern HemisphereNet private capital flowsn.a.3.54.57.311.312.813.914.123.923.436.546.216.1-9.6-2.1-2.60.18.3-1.7-1.412.720.152.739.347.14466.470.671.343.242.527.137.745.4

    U.S. DollarsBillionsWestern HemisphereNet private direct investment1.11.612.32.13.21.733.955.78.263.33.14.42.76.38.57.26.611.213.48.722.824.240.356.260.664.161.667.246.353.1

    U.S. DollarsBillionsWestern HemisphereNet private portfolio investment0.10.10.1-0.1-0.2-0.10.700.31.10.92.850.5-0.2-1.7-1.2-1.4-2.11.60.913.922.345.5650.838.825.918.711.14.60.913.617

    U.S. DollarsBillionsWestern HemisphereOther net private capital flowsn.a.1.93.55.29.49.711.611.119.817.329.935.25.1-13.4-5.1-5.3-1.43.4-8.1-10.15.2-517-14.8-40.719-12.7-11.5-8-32-23.8-41-22.2-24.7

    U.S. DollarsBillionsWestern HemisphereNet official flowsn.a.1.41.412.13.23.321.72.83.75.97.614.813.69.68.85.44.17.64.77.33.529.94.718.63.413.716.17.4-0.529.111.82.2

    U.S. DollarsBillionsWestern HemisphereChange in reserves7.27.14.53.53.66.10.2-2.3-3.2-7.50.32.120.40.7-9-1.18.9-3.57.73-16.6-17.2-22.7-20.74-23.3-29-13.88.77.8-2.81.7-5.50.2

    U.S. DollarsBillionsWestern HemisphereCurrent account-4.1-5.6-5.2-4.5-9-15.6-12.4-12.5-19.5-21.2-28.1-44.3-43.8-8.2-1.4-1.7-17.1-10-9.9-5.4-1.1-16.7-34.6-46-52.2-36.5-40.5-67.1-90.7-56.7-47.9-54.3-45-48

    Hoja2

    UnitsScaleCountryDescriptor1990199119921993199419951996199719981999200020012002e2003e

    U.S. DollarsBillionsWestern HemisphereInversiones directas de capital6,60011,20013,4008,70022,80024,20040,30056,20060,60064,10061,60067,20046,30053,100

    U.S. DollarsBillionsWestern HemisphereNet private portfolio investment0.913.922.345.5650.838.825.918.711.14.60.913.617

    U.S. DollarsBillionsWestern HemisphereOther net private capital flows5.2-517-14.8-40.719-12.7-11.5-8-32-23.8-41-22.2-24.7

    Inv. en cartera +Otras inversiones6,100.008,900.0039,300.0030,700.0024,300.0019,800.0026,100.0014,400.0010,700.00-20,900.00-19,200.00-40,100.00-8,600.00-7,700.00

    2002 y 2003 son estimaciones

    fuente:Banco mundial

    Hoja2

    6100

    8900

    39300

    30700

    24300

    19800

    26100

    14400

    10700

    -20900

    -19200

    -40100

    -8600

    -7700

    millones USD

    Flujos de capital (excl.IED)

    Hoja2 (2)

    66006100

    112008900

    1340039300

    870030700

    2280024300

    2420019800

    4030026100

    5620014400

    6060010700

    64100-20900

    61600-19200

    67200-40100

    46300-8600

    53100-7700

    &A

    Page &P

    Inversiones directas de capital

    Inv. en cartera +Otras inversiones

    millones USD

    66006100

    112008900

    1340039300

    870030700

    2280024300

    2420019800

    4030026100

    5620014400

    6060010700

    64100-20900

    61600-19200

    67200-40100

    46300-8600

    53100-7700

    &A

    Page &P

    Inversiones directas de capital

    Inv. en cartera +Otras inveriones

    millones USD

    66006100

    112008900

    1340039300

    870030700

    2280024300

    2420019800

    4030026100

    5620014400

    6060010700

    64100-20900

    61600-19200

    67200-40100

    46300-8600

    53100-7700

    Inversiones directas de capital

    Inv. en cartera +Otras inversiones

    millones USD

  • Posicin de la inversin europea en acciones Latam vs. Evolucin MSCI EMF Latam Fuente: Thomson Financial, MSCI y elaboracin propiaInversin:+54%Inversin: -14,5%

    Grfico2

    10241.9970491764100

    15777.4162049352117.7577582698

    13485.11132588101.5315136751

    Inversin europea

    MSCI LATAM

    Millones de US$

    %

    MSCI: +17,8%

    MSCI: -13,8%

    Hoja1

    Acciones

    Inversin europeaUS$MSCI LATAM2000114,954,418,40715,777,416,205

    7/20/9810,24210,241,997,0490199973,980,670,80510,153,797,049

    7/1/9910,2420

    7/1/0015,77715,777,416,2051000-18.38%

    7/1/0113,48513,485,111,326850-14.53-4.31%Inversin europea1008515

    MSCI Latam10095.684.32

    1-Jul-99938.418100.000100

    3-Jul-001105.06117.76100081.62

    2-Jul-01952.79101.5386.2206577018095.68

    13.77934229820

    0100

    095.684.32

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00

    00121.422513311

    121.422513311

    Hoja1

    00

    00

    &A

    Page &P

    Inversin europea

    MSCI LATAM

    Millones de US$

    %

    Variacin valor inversin europea acciones Latam vs. MSCI EMF Latam (2000-2001)

    Inversin: -14,53%

    -14,53%

    MSCI: -4,32%

    -4,31%

    1999

    00

    00

    00

    &A

    Page &P

    Inversin europea

    MSCI LATAM

    Millones de US$

    %

    MSCI: -13,78%

    MSCI: +17,8%

    Hoja3

    INVERSORACCS EN CARTERAACCS. ORD.VALOR 20-7-99 MILES $VALOR. 20-7-99 MILES EUROSRANKING

    Total Total Morgan Grenfell Asset Mgmt. Ltd.1,367,403,1962,250,554,3862,052,7771,918,3925

    Total Total Schroder Capital Mgmt. Int'l. (UK)4,540,705,1394,991,796,3831,278,8941,194,9258

    Total Total Edinburgh Fund Managers p.l.c.793,254,002881,369,1411,013,940947,5829

    Total Total Fleming Investment Management Ltd.2,554,148,8974,613,035,403763,011713,00911

    Total Total Schroder Investment Management (UK)2,485,353,5123,168,412,323717,475670,39412

    Total Total Rowe Price-Fleming Intl. (U.K.) Inc.4,044,417,12411,424,738,776702,298656,10513

    Total Total Genesis Investment Management Ltd.670,541,8551,146,454,570691,322645,81614

    Total Total Mercury Asset Management Group Ltd.748,332,5281,401,756,351228,039213,00715

    Total Total Citibank Global Asset Mgmt (UK)1,502,125,0932,154,404,506205,393191,86716

    Total Total UBS Brinson2,744,588,7972,843,302,893192,529179,85817

    Total Total Foreign & Colonial Emerging Markets2,088,479,7372,409,478,105187,884175,52018

    Total Total Gartmore Investment Management p.l.c735,829,3441,966,973,146173,414161,98819

    Total Total Perpetual Investment Mgmt Svces Ltd.177,769,5585,675,046,901135,167126,29320

    Total Total INVESCO Asset Management Ltd.1,108,962,8301,640,617,900124,719116,49921

    Total Total AIB Govett Asset Management Ltd.1,039,165,1601,342,661,199104,20597,33822

    Total Total Fidelity Investment Services Ltd.347,692,8921,039,326,08699,65993,09123

    Total Total Robeco Groep N.V.1,458,754,0461,490,814,58182,44777,02525

    Total Total Martin Currie Investment Management339,185,305545,520,56274,25369,36626

    Total Total ABN AMRO Bank N.V.1,143,762,5571,341,214,18772,61067,84827

    Total Total KBC Bank N.V.448,151,439763,991,19771,83567,10028

    Total Total AXA Investment Managers Paris236,256,369948,529,43971,31266,62229

    Total Total Murray Johnstone Ltd.204,889,610331,398,99869,42964,86430

    Total Total American Express Asset Management18,944,592537,810,75969,36764,80931

    Total Total Baillie Gifford & Co.374,682,320814,584,22258,09354,28032

    Total Total Baring Asset Management Ltd.903,071,0921,261,433,78255,91852,23833

    Total Total Capital International S.A.2,804,150324,912,00055,37251,72434

    Total Total Legal & General Investment Mgmt. UK1,804,13940,140,00154,24350,66535

    Total Total Credit Suisse Asset Management Ltd.529,179,477765,409,58651,74148,32936

    Total Total Banque Bruxelles Lambert S.A. (BBL)586,059,718825,586,14150,91047,56337

    Total Total Crdit Lyonnais Asset Mgmt S.A.614,486,075658,360,97650,17046,87138

    Total Total SEB Fonder209,837,040209,989,04048,46645,26239

    Total Total Henderson Investors Ltd.376,701,601921,358,47548,07944,91840

    Total Total DWS Deutsche Gsl. Wertpapiersparen629,354,462768,127,72645,42842,44241

    Total Total Handelsbanken Fonder AB233,101,254463,390,97741,73838,99042

    Total Total Blairlogie Capital Management Ltd.257,621,272370,017,72040,82138,13943

    Total Total Deka Deutsche Kapitalanlagegesell.1,192,000608,912,00038,45935,92344

    Total Total Oppenheim Kapitalanlagegesellschaft297,351,011609,697,48736,57834,17445

    Total Total Beta Funds Ltd.137,418,619262,221,14435,97833,60246

    Total Total AXA Sun Life Investment Management6,505,139352,364,88435,92433,55547

    Total Total Capital International Ltd.856,80012,696,70034,78132,48648

    Total Total Marathon Asset Management Ltd.400,9508,019,00030,34828,33649

    Total Total Swissca Portfolio Management AG1,504,577173,646,77030,32328,32350

    Total Total Templeton Investment Management Ltd.694,983,567839,318,30430,24628,26051

    Total Total Lloyds Bank plc, Geneva Branch442,595,156447,481,66428,83326,93652

    Total Total Scottish Investment Trust p.l.c.210,513,150210,513,15028,22126,36353

    Total Total Santander Global Advisors (UK) Inc.2,872,974,2462,872,974,24627,21025,43054

    Total Total Santander Gestin de Activos54,788,001121,376,49926,81425,04655

    Total Total AEGON Nederland N.V.816,939,017818,406,95925,86224,16156

    Total Total BankInvest A/S176,029,795223,715,39525,47723,79557

    Total Total Old Mutual Asset Managers (UK) Ltd.98,979,502193,167,69124,73423,10058

    Total Total Morley Fund Management UK3,546,096219,444,20024,16722,56959

    Total Total Sanpaolo Fondi Gestioni Mobiliari1,412,120272,375,48024,06922,48460

    Total Total ING Investment Management (Neth.)180,166,883343,155,23223,94222,36761

    Total Total Scottish Widows Investment Mgmt Ltd.2,713,0693,347,39820,51419,16762

    Total Total Deutsche Asset Management2,639,0837,344,70020,44319,09663

    Total Total Siemens Kapitalanlagegesellschaft52,902,897227,973,76320,25718,92664

    Total Total State Street Banque S.A.514,280,686515,718,54720,07418,75265

    Total Total Paribas Asset Management S.A. France246,223,470246,223,47019,08317,82866

    Total Total BBV Gestinova S.A., S.G.I.I.C.314,091,675374,094,80417,97716,79867

    Total Total BNP Gestions5,313,90637,977,92817,73716,56568

    Total Total BlackRock International Ltd.2,852,500114,515,00016,72815,62469

    Total Total CDC Asset Management Europe9,534,182295,886,63816,27015,19970

    Total Total Alliance Capital Ltd. (UK)30,910,536601,210,47516,07515,01571

    Total Total The Standard Life Assurance Company1,783,05236,212,27414,83513,85472

    Total Total Hill Samuel Asset Mgmt Group Ltd.1,453,1105,739,12014,57113,61173

    Total Total GenerComit Gestione S.p.A235,9002,162,50013,60912,71274

    Total Total AB Asesores Gestin S.A.2,823,6403,885,32213,35712,47275

    Total Total Aberdeen Asset Managers Ltd.574,2853,305,28512,84611,99476

    Total Total Foreign & Colonial Management Ltd.160,0003,200,00012,11011,30877

    Total Total Scudder Investments (U.K.) Ltd.2,984,6003,425,60012,02411,22778

    Total Total Arca S.p.A.265,100265,10011,69510,93079

    Total Total Pictet Asset Management UK Ltd.74,880,74975,752,84910,75110,04480

    Total Total INDOCAM4,245,4326,062,32810,5229,82681

    Total Total Dresdner Bank AG277,5991,154,08610,3129,63582

    Total Total Dresdner RCM Global Investors (UK)661,1419,274,8439,4318,81283

    Total Total Citibank Private Bank (UK)1,678,4732,246,7589,4158,79184

    Total Total Mediolanum Gestione Fondi S.p.A.158,320,139235,708,9399,1958,58985

    Total Total Stewart Ivory & Company Ltd.1,964,8553,090,6478,9458,35286

    Total Total Socit Gnrale Asset Mgmt (France)1,135,78210,701,4508,2567,71087

    Total Total Prime Investment Management SIM, SpA1,784,61515,609,3537,4356,94488

    Total Total I. G. International Management Ltd.2,862,85021,759,5507,4206,93089

    Total Total SEB Investment Management59,712,07059,712,0707,2606,78290

    Total Total Abbey Life Investment Services Ltd.904,1297,677,7086,7056,26291

    Total Total Intesa Asset Management SGR S.p.A.631,8003,738,6006,4786,05292

    Total Total ING Investment Management Italia SGR929,5002,786,4005,9125,52293

    Total Total Morgan Stanley Asset Management Ltd.75,5981,511,9605,7225,34394

    Total Total Banesto Fondos S.A.1,534,4341,972,9385,1974,85395

    Total Total Cie Financire Edmond de Rothschild1,345,0001,345,0004,8344,51496

    Total Total Fondinvest Risparmio S.p.A.9,371,9619,378,5314,8074,49397

    Total Total Cordius Asset Management N.V.339,6451,705,9004,7534,43898

    Total Total Fondicri S.p.A.197,9881,283,6164,2713,98899

    Total Total Rothschild Asset Management (UK)2,578,0352,604,8154,0603,791100

    Total Total Ducato Gestione S.p.A.152,5611,355,6104,0033,737101

    Total Total UBS Brinson (France)431,6842,865,0233,8423,589102

    Total Total Ivory & Sime Asset Management Ltd.50,377,00050,377,0003,8013,552103

    Total Total HSBC Asset Management Europe Ltd.918,9281,598,2923,5993,361105

    Total Total Grifonds S.A.349,001865,0013,4853,254106

    Total Total Dresdnerbank Investment Mgmt. (DBI)317,721882,7613,3903,165107

    Total Total Clerical Medical Investment Group440,620459,1603,0792,875108

    Total Total Aberdeen Asset Managers (London) Ltd2,151,5252,202,0252,9362,742109

    Total Total BCH Gestin S.A.4,958,4064,958,4062,8952,703110

    Total Total Investec Guinness Flight Ltd.218,0062,018,4202,8122,627111

    Total Total Framlington Investment Management903,800992,0002,6882,510112

    Total Total Carlson Investment Management Ltd.797,8001,056,2002,5322,364113

    Total Total Banque Edouard Constant S.A.249,900681,2002,4062,246114

    Total Total Gestnord Fondi S.p.A.449,634501,5102,3742,217115

    Total Total AF-Investimentos, S.G.P.S, S.A.708,8071,017,1202,3732,215116

    Total Total Azimut Gestione Fondi S.p.A.69,832624,4972,3642,207117

    Total Total Barclays Global Investors (UK) Ltd.730,231730,2312,3162,162118

    Total Total CIC Asset Management (France)624,101807,5012,2782,127119

    Total Total Universal-Investment-Gesell. mbH286,064634,0492,1632,019120

    Total Total Carmignac Gestion753,000753,0002,1391,997121

    Total Total Fimedit Fondi S.p.A.306,110759,2002,1291,988122

    Total Total Threadneedle Investment Managers Ltd246,800550,8002,0751,937123

    Total Total J. P. Morgan Investment GmbH347,1059,858,8052,0021,871124

    Total Total FP Asset Managers Ltd.399,435780,1002,0021,869125

    Total Total FP Consult S.A.231,970629,5201,8901,765126

    Total Total Gesmadrid S.A.251,803462,9881,8721,748127

    Total Total NPI421,449421,4491,7601,644128

    Total Total BFSC Gestion285,875511,5001,7341,619129

    Total Total SINOPIA Asset Management S.A.524,342524,3421,7341,619130

    Total Total Goldman Sachs Asset Management (UK)296,020507,6001,7041,592131

    Total Total Dexia Asset Management (Dexiam)427,100714,0001,6421,533132

    Total Total Delaware International Advisers Ltd.397,915397,9151,6321,524133

    Total Total Bank Morgan Stanley AG21,200424,0001,6051,498134

    Total Total Royal London Asset Management Ltd.20,000400,0001,5141,413135

    Total Total Union Investment Gesellschaft mbH102,085556,9001,2961,210136

    Total Total FIMAGEST208,000702,0001,2551,172137

    Total Total Merrill Lynch Global Asset Mgmt Ltd.50,493509,9301,2501,167138

    Total Total Singer & Friedlander Investment Mgmt221,252221,2521,2251,144139

    Total Total Norwich Union Investment Management283,901283,9011,0961,023140

    Total Total IAI International Ltd.126,579277,0901,054984141

    Total Total Euromobiliare Fondi S.p.A.164,347281,2431,042973142

    Total Total Corluy & Co. N.V.130,000240,0001,038969143

    Total Total Julius Br Asset Management AG90,625161,2501,015948144

    Total Total Merrill Lynch Asset Management U.K.224,600224,600989924145

    Total Total Raiffeisen Kapitalanlage-Gesell. mbH107,700212,700937875146

    Total Total Jyske Invest160,000295,000894834147

    Total Total Gestielle S.p.A.19,000380,000869812148

    Total Total Petercam S.A.25,000250,000863805149

    Total Total ESAF Esprito Santo Activos Financ.26,400205,000770719150

    Total Total Dunedin Capital Partners Ltd.180,000180,000768717151

    Total Total Royal & Sun Alliance Inv. Mgmt. Ltd.10,000200,000757707152

    Total Total Gesfibanc S.G.I.I.C., S.A.129,264223,638750700153

    Total Total Fortis Investments (Belgium)50,300169,000680635154

    Total Total SLC Asset Management Ltd.198,201274,201671627155

    Total Total Argentaria Gestin de Inversiones247,419247,419654611156

    Total Total Lloyd George Management (Europe) Ltd8,000160,000606565157

    Total Total Credit Suisse Asset Management7,500150,000568530158

    Total Total Hagstrmer & Qviberg Fonder70,000130,000532497159

    Total Total BBV Privanza Banco Personal S.A.6,892137,840522487160

    Total Total Lombard Odier Investment Management292,156323,069498465161

    Total Total DIT Deutscher Investment-Trust Gsl35,06097,960486454162

    Total Total Banif Gestin, S.G.I.I.C., S.A.16,21670,974480448163

    Total Total CIGNA International Invt. Adv. (UK)334,900349,150419391164

    Total Total Bearbull Suisse S.A.99,617137,047413386165

    Total Total Danske Kapitalforvaltning118,000118,000412385166

    Total Total Merrill Lynch Bank (Suisse) S.A.92,70092,700408381167

    Total Total Rothschild et Cie Gestion5,000100,000378353168

    Total Total Cazenove Unit Trust Management Ltd.104,570104,570376351169

    Total Total Commerzbank Investment Management42,00084,000369345170

    Total Total Teachers Assurance Corporation (TAC)23,500123,800308287171

    Total Total Friends Ivory & Sime p.l.c.8,200164,000296277172

    Total Total Kredietrust S.A. Luxembourgeoise72,00072,000266248173

    Total Total WorldInvest Ltd.4,56048,000185172174

    Total Total Bank of Ireland Asset Management Ltd35,50035,500107100175

    Total Total Newton Investment Management Ltd.24,60024,6009387176

    Total Total Jupiter Asset Management Ltd.22,00022,0008378177

    Total Total J. P. Morgan Investment Mgmt. (UK)76015,2005854178

    Total Total Banca Arner S.A.3,03060,6005753179

    Total Total Wijs & van Oostveen Effectenkantoor12,50012,5004744180

    Total Total Chase Asset Management London Ltd.8,2748,2743128181

    Total Total Scottish Equitable p.l.c.24,23224,9643028182

    Total Total Bank Leu AG7,0007,0002625183

    Total Total Baden-Wrttembergische Kap. (BWK)6,6006,6002321184

    Total Total Guardian Asset Management Ltd.1,3002,60098185

    Total Total B.I. Gestora S.G.I.I.C., S.A.0000186

    Total Total Bankers Trust AG (Schweiz)0000187

    Total Total BBL Asset Management (France) S.A.0000188

    Total Total Bessemer Trust Company N.A. (UK)0000189

    Total Total Credit Suisse Asset Management KAG0000191

    Total Total Gestemar Gestin S.A.0000194

    Total Total Hill Samuel Management Ltd.0000195

    Total Total Merchbanc S.G.I.I.C., S.A.0000196

    Total Total Unibank Markets A/S0000197

    Total general43,107,053,87573,980,670,80510,153,797

    Hoja2

    Boletim do Banco Central do BrasilSetembro 2002Boletim do Banco Central do BrasilSetembro 2002

    V.11 - Investimentos estrangeiros em carteira

    US$ milhes

    Discriminao2001

    Ano

    2001200120012001

    BrasilMxicoBrasilMxico

    Total inversin de cartera872135,902Total inversin de cartera872135,902

    Investimentos em aes2,48153,162Renta variable2,48153,162

    Negociadas no pas-545Renta fija-1,60982,740

    Negociadas no exterior (Anexo V - ADR)3,026Millones de US$

    Ttulos de renda fixa-1,60982,740

    Negociados no pas-274Saldo totalRenta variableRenta fija

    Negociados no exterior-1,335Brasil8722,481-1,609

    Mxico135,90253,16282,740

    40000

    Hoja2

    00

    00

    Renta variable

    Renta fija

    2000

    Movimentao dos Investidores Estrangeiros

    Saldo da CarteiraCAPITALIZACION BURSATIL

    AesA fin de cada ao, Miles de US$

    Millones de US$Miles de US$

    19938,314Bovespa199019911992199319941995199619971998199920002001Bolsa

    199416,253

    199516,685Mkt Cap15,372,96943,615,11645,261,37799,430,045189,058,183147,567,569216,927,182255,409,311160,886,690228,535,767225,528,000186,237,600Sao Paulo

    199624,909Inv. Extranjera8,31416,25316,68524,90930,91316,46322,87617,02918,129Millones de US$

    199730,9138.368.6011.3111.4812.1010.2310.017.559.73

    199816,463FUENTE: FIABV, en base a datos de sus bolsas miembros.

    199922,876

    200017,029

    200118,129

    2002

    Jan12,755

    Fev14,763

    Mar14,742

    Abr15,026

    Mai13,477

    Jun10,769

    Jul7,640

    Ago8,747

    Setnd

    Fonte: CVM / BOVESPA

    35431

    35462Bovespa199019911992199319941995199619971998199920002001Bolsa

    35490

    35521Inversin Extranjera8.368.6011.3111.4812.1010.2310.017.559.73

    35551Resto929189898890909290

    2000

    0

    0

    0

    0

    0

    0

    0

    0

    0

    &A

    Page &P

    Inv. Extranjera

    Millones de US$

    00

    00

    00

    00

    00

    00

    00

    00

    00

    Inversin Extranjera

    Resto

    %

    European HoldersSecurityExchangeTickerSharesShare changeFiling Date% Out

    ABF Capital ManagementGrupo Televisa SA GDRNYTV3355631/03/20000

    ABF Capital ManagementTelefonos de Mexico ADR LNYTMX3735331/03/20000

    ABN AMRO Asset Management N.V.Agritech Inversora ORD BBU40,000400007/4/000.01

    ABN AMRO Asset Management N.V.ALFA SA ORD AMX1,368,00039000030/04/20000.23

    ABN AMRO Asset Management N.V.Aracruz Celulose ADR Pfd BNYARA27,5001450031/08/20000.05

    ABN AMRO Asset Management N.V.GPO Fin Banamex (Banacci) ORD OMX13,635,000414000031/10/20000.29

    ABN AMRO Asset Management N.V.Bco Galicia Bueno Aire ADR BPKBGALY122,536030/04/20000

    ABN AMRO Asset Management N.V.Banco Hipotecario SA OrdBUBHIP149,310030/04/20000.36

    ABN AMRO Asset Management N.V.Banco Itau SA PfdSP95,000,000031/10/20000.18

    ABN AMRO Asset Management N.V.Bompreco Supermercados GDR RegPKBSDNF372,900031/10/20000

    ABN AMRO Asset Management N.V.Brasil Telecom Participacoes SA PFDSPTCSP4254,125,70018542570030/04/20000.12

    ABN AMRO Asset Management N.V.Cia Brasil Dist Pao Acucar GDR Reg SNYCBD455,700-1150031/10/20000

    ABN AMRO Asset Management N.V.CPT Telefonica Del Peru ORD BLMTDP817,00030000030/04/20000.06

    ABN AMRO Asset Management N.V.Carso Global Telecom SA CV Ord A1MXCGTVY3,019,200253720030/04/20000.08

    ABN AMRO Asset Management N.V.Celular Crt Partic Ord Pfd ASP6,800,000680000030/04/20000.37

    ABN AMRO Asset Management N.V.CEMEX SA Spons ADR BPKCMXBY16,875031/10/20000

    ABN AMRO Asset Management N.V.CEMEX SA Spons ADR PCNYCX686,129-1387131/10/20000

    ABN AMRO Asset Management N.V.Companhia de Bebidas Pf AdrNYABV620,00062000031/10/20000.28

    ABN AMRO Asset Management N.V.Consorcio Ara SA De CV ORDMXCSRAYP5,680,000031/10/20001.74

    ABN AMRO Asset Management N.V.Copel-Cia Paranaense Energia ADR PfdNYELP1,025,60011000031/10/20000

    ABN AMRO Asset Management N.V.Copel Paranaense Energia ORD Pfd BSP289,300,000030/04/20000.23

    ABN AMRO Asset Management N.V.Cristalerias de Chile SA ADRNYCGW75,0007500030/04/20000

    ABN AMRO Asset Management N.V.Eletropaulo Metrop PFDSP113,232030/04/20000

    ABN AMRO Asset Management N.V.Embratel Participacoes SA ADR PFDNYEMT604,5008450031/10/20000.29

    ABN AMRO Asset Management N.V.Fomento Econ Mex (FEMSA) ADRNYFMX414,400-1510031/10/20000.64

    ABN AMRO Asset Management N.V.G Accion SA De CV ADRPKGACNY165,000029/02/20000

    ABN AMRO Asset Management N.V.Gerdau SA PFDSPGGB82,398,000030/04/20000.11

    ABN AMRO Asset Management N.V.Grupo Continental ORD CPOMX899,000030/04/20000.24

    ABN AMRO Asset Management N.V.Grupo Elektra SA ADR PCNYEKT100,00010000030/04/20000.03

    ABN AMRO Asset Management N.V.Grupo Elektra SA ORD PC UNITMX950,00095000030/04/20000.16

    ABN AMRO Asset Management N.V.Grupo Sanborns SA Ord BMX1,252,000125200030/04/20000.13

    ABN AMRO Asset Management N.V.Grupo Televisa SA GDRNYTV235,4006810031/10/20000

    ABN AMRO Asset Management N.V.IRSA ORDBUIRSA649,065744830/04/20000.28

    ABN AMRO Asset Management N.V.Interamericana Entreten ORD BMXCIEB1,768,990-54984031/10/20000.74

    ABN AMRO Asset Management N.V.Itausa Investim Itau (ITSA) ORD PfdSP5,196,38272738230/04/20000.24

    ABN AMRO Asset Management N.V.Klabin Papel e Celul-IKPC PfdSP2,609,000-109100030/04/20000.63

    ABN AMRO Asset Management N.V.Laboratorio Chile SA Spons ADRNYLBC402,5001550031/10/20000

    ABN AMRO Asset Management N.V.Light Participacoes Lightpar ordSP257,000,00025700000030/04/20002.47

    ABN AMRO Asset Management N.V.Minas Buenaventura Spons ADR BNYBVN445,000031/10/20000

    ABN AMRO Asset Management N.V.Nortel Inversora Spon ADRNYNTL44,5004450030/04/20000

    ABN AMRO Asset Management N.V.Organizacion Soriana SA ORD BMX3,338,725-128727531/10/20000.56

    ABN AMRO Asset Management N.V.Petroleo Brasileiro-Petrobras PFDSP659,50038950031/10/20000.15

    ABN AMRO Asset Management N.V.Cia Riograndense Telecom ORD Pfd ASP6,470,000647000030/04/20000.54

    ABN AMRO Asset Management N.V.Santa Isabel SA Spons ADRNYISA20,000-8000030/04/20000

    ABN AMRO Asset Management N.V.CIA Siderurgica Tubarao (CST) PfdSP145,000,0007800000030/04/20000.48

    ABN AMRO Asset Management N.V.TV Azteca SA Spons ADRNYTZA437,40043740030/04/20000.08

    ABN AMRO Asset Management N.V.Tele Celular Sul Part ORD PFDSPTCSL4340,000,00034000000030/04/20000.16

    ABN AMRO Asset Management N.V.Tele Celular Sul Part ADRNYTSU210,0005500031/10/20001.82

    ABN AMRO Asset Management N.V.Tele Centro Oeste Celular Part ADRNYTRO189,50018950030/04/20000

    ABN AMRO Asset Management N.V.Tele Leste Celular Part ADRNYTBE85,5008550030/04/20000

    ABN AMRO Asset Management N.V.Tele Norte Leste Part ADRNYTNE488,5848494631/10/20000

    ABN AMRO Asset Management N.V.Tele Norte Leste Part ORDSPTNLP3156,709,3424400550030/04/20000.13

    ABN AMRO Asset Management N.V.Tele Norte Leste Part ORD PFDSPTNLP4105,221,400030/04/20000.04

    ABN AMRO Asset Management N.V.Tele Sudeste Celular Part SA ADRNYTSD6,000-989831/10/20000

    ABN AMRO Asset Management N.V.Telebras (Telec Brasileiras) PFDSP23,000,0002300000030/04/20000.01

    ABN AMRO Asset Management N.V.Telebras (Telec Brasileir) ADR PfdNYTBH30,000-4948931/10/20000

    ABN AMRO Asset Management N.V.Telecom Argentina (STET) ADR BNYTEO140,800-13000031/10/20000

    ABN AMRO Asset Management N.V.Telefonos de Mexico ADR LNYTMX524,370-9363031/10/20000

    ABN AMRO Asset Management N.V.Telemig Celular Participacoes ADRNYTMB69,4006940030/04/20000.66

    ABN AMRO Asset Management N.V.Telesp Celular Participacoes ADRNYTCP21,0002100030/04/20000

    ABN AMRO Asset Management N.V.Telesp Celular Participacoes ORDSPTSPP3290,603,53629060353630/04/20000.18

    ABN AMRO Asset Management N.V.Telesp Celular Participacoes ORD PFDSPTSPP426,400,0002640000030/04/20000.01

    ABN AMRO Asset Management N.V.Telesp Tel De Sao Paulo ADRNYTSP30,000-4948931/10/20000

    ABN AMRO Asset Management N.V.Telesp Tel Sao Pau ORD PFDSPTLPP4170,000,00017000000030/04/20000.05

    ABN AMRO Asset Management N.V.Transmissao Eletrpaulista Ord PfdSP87,500,0008750000030/04/20000.19

    ABN AMRO Asset Management N.V.Unibanco SA GDR UnitsNYUBB80,000-8090030/04/20000

    ABN AMRO Asset Management N.V.Cia Vale Do Rio Doce ORD PFD ASPVALE3PA154,000-1300030/04/20000.11

    ABN AMRO Asset Management N.V.Cia Vale do Rio Doce ORD PFD BSP260,0001300030/04/20000

    ABN AMRO Asset Management N.V.Vina Concha y Toro SA ADRNYVCO65,400030/04/20000

    ABN AMRO Asset Management N.V.Votorantim Celulose Papel ORD PfdSP70,000,0007000000030/04/20000.41

    ABN AMRO Asset Management N.V.Wal Mart de Mexico ORD VMX2,340,000234000030/04/20000.06

    AF-Investimentos, S.G.P.S, S.A.GPO Fin Banamex (Banacci) ORD OMX628,80048360030/09/20000.01

    AF-Investimentos, S.G.P.S, S.A.Banco Bradesco SA BBD ADRPKBBQCY71,200700030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Brasil Telecom Participacoes ADR PRFNYBRP3,570030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Cia Brasil Dist Pao Acucar GDR Reg SNYCBD14,225030/09/20000

    AF-Investimentos, S.G.P.S, S.A.CEMEX SA Spons ADR PCNYCX14,020120030/09/20000

    AF-Investimentos, S.G.P.S, S.A.CEMIG ADR PfdPK13,599030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Eletrobras Cent Ele Bras ADRPKCAIFY38,525030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Embratel Participacoes SA ADR PFDNYEMT49,0003090030/09/20000.02

    AF-Investimentos, S.G.P.S, S.A.Fomento Econ Mex (FEMSA) ORD BD UnitMXFEMSUBD90,0004080030/09/20000.01

    AF-Investimentos, S.G.P.S, S.A.Grupo Bimbo SA de CV Ser AMX90,400030/09/20000.01

    AF-Investimentos, S.G.P.S, S.A.Grupo Financiero Galicia ADRNDGGAL37,0813708130/09/20000

    AF-Investimentos, S.G.P.S, S.A.Grupo Mexico SA Ord BMXNGMEXICB69,900030/09/20000.01

    AF-Investimentos, S.G.P.S, S.A.Grupo Televisa SA GDRNYTV13,720410030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Kimberly Clark de Mexico SA ORD AMXKMBMF147,4002820030/09/20000.02

    AF-Investimentos, S.G.P.S, S.A.Organizacion Soriana SA ORD BMX33,200030/09/20000.01

    AF-Investimentos, S.G.P.S, S.A.Perez Companc S A Spons ADR BNYPC11,500030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Petroleo Brasileiro-Petrobras PFDSP65,380250030/09/20000.01

    AF-Investimentos, S.G.P.S, S.A.Petroleo Brasileiro S.A. ADRNYPBR39,0373903730/09/20000

    AF-Investimentos, S.G.P.S, S.A.Tele Norte Leste Part ADRNYTNE57,672580431/12/20000

    AF-Investimentos, S.G.P.S, S.A.Telebras (Telec Brasileir) ADR PfdNYTBH52,130031/12/20000

    AF-Investimentos, S.G.P.S, S.A.Telecom Argentina (STET) ADR BNYTEO4,800480030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Telefonos de Mexico ADR LNYTMX76,2002360030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Telesp Celular Participacoes ADRNYTCP2,085208531/12/20000

    AF-Investimentos, S.G.P.S, S.A.Tubos De Acero De Mexico (Tamsa) ORDMX33,3001030030/09/20000.05

    AF-Investimentos, S.G.P.S, S.A.Unibanco SA GDR UnitsNYUBB22,490300030/09/20000

    AF-Investimentos, S.G.P.S, S.A.Cia Vale do Rio Doce ORDSPCMPVP27,5002750030/09/20000.01

    AF-Investimentos, S.G.P.S, S.A.Wal Mart de Mexico Ord CMXCFRAC242,6004390030/09/20000.04

    AIB Govett Asset Management Ltd.ALFA SA ORD AMX357,041-3590031/08/20000.06

    AIB Govett Asset Management Ltd.Aracruz Celulose ADR Pfd BNYARA12,800-450031/08/20000.02

    AIB Govett Asset Management Ltd.Aracruz Celulose Pfd BSP57,800031/08/20000.01

    AIB Govett Asset Management Ltd.GPO Fin Banamex (Banacci) ORD OMX2,505,759-24374131/12/20000.05

    AIB Govett Asset Management Ltd.Banco Bradesco PfdSP131,476,90010079399531/08/20000.02

    AIB Govett Asset Management Ltd.Bco de A Edwards Spons ADRNYAED2,932031/08/20000

    AIB Govett Asset Management Ltd.Banco do Estado de Sao Paulo ORD PfdSP3,894,000149170031/08/20000.02

    AIB Govett Asset Management Ltd.Banco Itau SA ORDSP25,889,7502588975031/08/20000.04

    AIB Govett Asset Management Ltd.Banco Itau SA PfdSP21,249,000-2976070031/12/20000.04

    AIB Govett Asset Management Ltd.Banco Santander Chile ADRNYBSB9,100220031/08/20000

    AIB Govett Asset Management Ltd.Banco Santiago ADRNY1,000031/08/20000

    AIB Govett Asset Management Ltd.Br Distribuidora Petrobras SA Pfd BSP6,123,100612310031/08/20000.02

    AIB Govett Asset Management Ltd.Brasil Telecom Participacoes SA ORDSPTCSP3158,041,20114124120131/08/20000.13

    AIB Govett Asset Management Ltd.Brasil Telecom Participacoes ADR PRFNYBRP5,50080031/08/20000

    AIB Govett Asset Management Ltd.Brasil Telecom Participacoes SA PFDSPTCSP4123,102,100144880031/08/20000.06

    AIB Govett Asset Management Ltd.Cia Brasil Dist Pao Acucar GDR Reg SNYCBD127,6801170031/12/20000

    AIB Govett Asset Management Ltd.CIA Brasileira Dist Pao Acucar PfdSP57,250,3595179095931/08/20000.13

    AIB Govett Asset Management Ltd.Siderurgica Nacional CSN ORDSP27,621,9001003780031/08/20000.04

    AIB Govett Asset Management Ltd.CANTV ADRNYVNT36,5303653031/08/20000

    AIB Govett Asset Management Ltd.CEMEX SA Ord CPOMX121,77612177631/08/20000.01

    AIB Govett Asset Management Ltd.CEMEX SA Spons ADR PCNYCX129,740-1983131/12/20000

    AIB Govett Asset Management Ltd.CEMIG PfdSP4,280,300428030031/08/20000

    AIB Govett Asset Management Ltd.Compania Cervecerias Unida ADRNYCU2,550255031/08/20000

    AIB Govett Asset Management Ltd.Cia Paranaense De Energia ORDSPCPLE314,040,000-109810031/08/20000.01

    AIB Govett Asset Management Ltd.CIA DE CIGARROS SOUZA CRUZ SA ORDSP28,447031/08/20000.01

    AIB Govett Asset Management Ltd.Coca-Cola Femsa SA Spons ADR LNYKOF60,5004570031/08/20000

    AIB Govett Asset Management Ltd.Companhia de Bebidas Pf AdrNYABV5,500550031/12/20000

    AIB Govett Asset Management Ltd.Control Com Mexica Ord Units BMX290,00029000031/08/20000

    AIB Govett Asset Management Ltd.Controladora Comercial Mex ORD UNITMX1,682,000-9700031/12/20000

    AIB Govett Asset Management Ltd.Controladora Farmacias Confar ORD BMX98,000-10900031/08/20000.2

    AIB Govett Asset Management Ltd.Copel-Cia Paranaense Energia ADR PfdNYELP49,5004950031/08/20000

    AIB Govett Asset Management Ltd.Copel Paranaense Energia ORD Pfd BSP24,500,000-2670000031/08/20000.02

    AIB Govett Asset Management Ltd.COPENE-Petroquim Nordeste ORDSP370,66737066731/08/20000.06

    AIB Govett Asset Management Ltd.Corp Fragua ORD BMX71,000031/03/20000.07

    AIB Govett Asset Management Ltd.Corporacion Geo SA ORD BMX34,500031/03/20000.03

    AIB Govett Asset Management Ltd.Credicorp Ltd ORDNYBAP22,700790031/08/20000.02

    AIB Govett Asset Management Ltd.Cristalerias de Chile SA ADRNYCGW1,900031/08/20000

    AIB Govett Asset Management Ltd.Desc SA de CV ORD BMX146,000-22100031/08/20000.03

    AIB Govett Asset Management Ltd.Distribucion Y Servicio ADRNYDYS39,4001920031/08/20000

    AIB Govett Asset Management Ltd.Eletrobras Cent Ele Bras ADRPKCAIFY90,9009090031/08/20000.01

    AIB Govett Asset Management Ltd.Eletrobras Cent Ele Bras ORD Pfd ASP44,516,5004451650031/08/20000.61

    AIB Govett Asset Management Ltd.Embotelladora Andina ADR ANYAKO A40,7001950031/08/20000

    AIB Govett Asset Management Ltd.Embraer Aircraft Corp ADRNYERJ20,000031/12/20000.03

    AIB Govett Asset Management Ltd.Embratel Participacoes SA ADR PFDNYEMT216,300210031/12/20000.1

    AIB Govett Asset Management Ltd.Embratel Participacoes SA ORD PFDSPEBTP469,044,7001323860031/08/20000.03

    AIB Govett Asset Management Ltd.Endesa de Chile ADRNYEOC62,2183025031/08/20000

    AIB Govett Asset Management Ltd.Enersis SA ADRNYENI13,348630031/08/20000

    AIB Govett Asset Management Ltd.Ferreyros SA OrdLM247,00024700031/08/20000.15

    AIB Govett Asset Management Ltd.Grupo Financiero BBVA Bancomer Ord OMXGFBBO646,000-9800031/08/20000.01

    AIB Govett Asset Management Ltd.Fomento Econ Mex (FEMSA) ADRNYFMX32,0001850031/08/20000.05

    AIB Govett Asset Management Ltd.Fomento Econ Mex (FEMSA) ORD BD UnitMXFEMSUBD588,541-1200031/12/20000.09

    AIB Govett Asset Management Ltd.Fdo Corp Banamex S Ord BMX904,90090490031/08/20000

    AIB Govett Asset Management Ltd.Gener SA Spon ADRNYCHR7,200170031/08/20000

    AIB Govett Asset Management Ltd.Gerdau SA PFDSPGGB100,724,000-1705980031/12/20000.14

    AIB Govett Asset Management Ltd.Grupo Bimbo SA de CV Ser AMX53,000031/08/20000

    AIB Govett Asset Management Ltd.Grupo Carso SA ORD A1MX31,629-26325831/08/20000

    AIB Govett Asset Management Ltd.Grupo Carso SA de CV ADRPK16,600031/03/20000

    AIB Govett Asset Management Ltd.Grupo Cementos De Chihuahua ORD BMX59,000031/03/20000.04

    AIB Govett Asset Management Ltd.Grupo Continental Ord Ser IMX131,0007500031/08/20000.02

    AIB Govett Asset Management Ltd.Grupo Elektra SA ORD PC UNITMX175,00017500031/08/20000.03

    AIB Govett Asset Management Ltd.Grupo Financiero BBVA Bancomer ORD LMXGFBBL1031/08/20000

    AIB Govett Asset Management Ltd.Grupo IMSA SA Dec CV ADR UnitNYIMY6,000031/03/20000

    AIB Govett Asset Management Ltd.Grupo Industrial Durango ORD AMX16,000031/03/20000.03

    AIB Govett Asset Management Ltd.Grupo Industrial Emprex ORD BMX569,0639037931/08/20000

    AIB Govett Asset Management Ltd.Grupo Industrial Saltillo ORD BMXGISS3/B36,000031/03/20000.01

    AIB Govett Asset Management Ltd.Grupo Iusacell Sa Spons Adr Ser VNYCEL167,7801400031/12/20000.03

    AIB Govett Asset Management Ltd.Grupo Mexico SA Ord BMXNGMEXICB299,500-8000031/12/20000.05

    AIB Govett Asset Management Ltd.Grupo Modelo SA ORD CMX1,252,400-37458631/12/20000.19

    AIB Govett Asset Management Ltd.Grupo Televisa SA GDRNYTV118,710-355031/12/20000

    AIB Govett Asset Management Ltd.Grupo Televisa SA ORD PCMX610,46038468031/08/20000.03

    AIB Govett Asset Management Ltd.Grupo Financiero Banorte Ser OMX160,00010300031/08/20000.03

    AIB Govett Asset Management Ltd.Industrias CH SA (ICH) ORD BMX29,000031/03/20000.04

    AIB Govett Asset Management Ltd.Interamericana Entreten ORD BMXCIEB313,1863118631/12/20000.13

    AIB Govett Asset Management Ltd.Itausa Investim Itau (ITSA) ORD PfdSP697,00069700031/08/20000.03

    AIB Govett Asset Management Ltd.Kimberly Clark de Mexico SA ORD AMXKMBMF208,20011790031/08/20000.03

    AIB Govett Asset Management Ltd.Mavesa S A ADRNYMAV21,000031/08/20000

    AIB Govett Asset Management Ltd.Metalurgica Gerdau Group ORDSP13,898,0001389800031/08/20000.2

    AIB Govett Asset Management Ltd.Minas Buenaventura Spons ADR BNYBVN10,8001080031/08/20000

    AIB Govett Asset Management Ltd.Organizacion Soriana SA ORD BMX57,760-42650031/12/20000.01

    AIB Govett Asset Management Ltd.Pecom Energia SA ORD BBUPECO348,175031/12/20000.04

    AIB Govett Asset Management Ltd.Pepsi-Gemex SA ORD CPOMX80,0008000031/08/20000.02

    AIB Govett Asset Management Ltd.Petroleo Brasileiro-Petrobras ORDSP75,5707557030/06/20000.01

    AIB Govett Asset Management Ltd.Petroleo Brasileiro-Petrobras PFDSP159,434-24569431/12/20000.04

    AIB Govett Asset Management Ltd.Petroleo Brasileiro S.A. ADRNYPBR45,0601116031/12/20000

    AIB Govett Asset Management Ltd.Quimica y Minera ADR ANYSQM A22031/12/20000

    AIB Govett Asset Management Ltd.Quimica y Minera ADR BNYSQM1,400031/08/20000

    AIB Govett Asset Management Ltd.TV Azteca SA Spons ADRNYTZA15,0001500031/08/20000

    AIB Govett Asset Management Ltd.Tele Celular Sul Part ORD PFDSPTCSL4152,200,00015220000031/08/20000.07

    AIB Govett Asset Management Ltd.Tele Celular Sul Part ADRNYTSU10,3001030031/08/20000.09

    AIB Govett Asset Management Ltd.Tele Centro Oeste Celular Part ADRNYTRO29,8002979931/08/20000

    AIB Govett Asset Management Ltd.Tele Centro Oeste Celular Part ORDSPTCOC325,247,400-103901962031/08/20000.02

    AIB Govett Asset Management Ltd.Tele Norte Leste Part ADRNYTNE48,309-102731/12/20000

    AIB Govett Asset Management Ltd.Tele Norte Leste Part ORDSPTNLP362,969,606-9104698531/08/20000.05

    AIB Govett Asset Management Ltd.Tele Norte Leste Part ORD PFDSPTNLP4306,475,440-1388689031/12/20000.12

    AIB Govett Asset Management Ltd.Tele Sudeste Celular Part SA ORDSPTSEP31,000100031/08/20000

    AIB Govett Asset Management Ltd.Telecom Argentina (STET) ADR BNYTEO22,000031/12/20000

    AIB Govett Asset Management Ltd.CTC ADRNYCTC118,9803225031/12/20000

    AIB Govett Asset Management Ltd.Telefonica de Argentina SA ADR BNYTAR3,250325031/03/20000

    AIB Govett Asset Management Ltd.Telefonos de Mexico ADR LNYTMX155,248820031/12/20000

    AIB Govett Asset Management Ltd.Telefonos de Mexico ORD AMX948,481-20088330/06/20000.28

    AIB Govett Asset Management Ltd.Telefonos de Mexico ORD LMX3,167,99457900031/12/20000.03

    AIB Govett Asset Management Ltd.Telemig Celular Participacoes ADRNYTMB36,868620031/12/20000.35

    AIB Govett Asset Management Ltd.Telemig Celular Participacoes ORD PFSPTMCP439,563,7003956370031/08/20000.02

    AIB Govett Asset Management Ltd.Telemig-Telecom Minas Gerais ORDSP3,035,400303540031/08/20000.03

    AIB Govett Asset Management Ltd.Telenordeste Celular Part ORDSPTNEP334,097,6003409760031/08/20000.03

    AIB Govett Asset Management Ltd.Telesp Celular Participacoes ADRNYTCP19,8701927031/08/20000

    AIB Govett Asset Management Ltd.Telesp Celular Participacoes ORD PFDSPTSPP450,441,214-22008205831/12/20000.02

    AIB Govett Asset Management Ltd.Telesp Tel De Sao Paulo ADRNYTSP9,198-1305031/08/20000

    AIB Govett Asset Management Ltd.Telesp Tel Sao Paulo ORDSPTLPP31031/12/20000

    AIB Govett Asset Management Ltd.Telesp Tel Sao Pau ORD PFDSPTLPP4576-7481184931/08/20000

    AIB Govett Asset Management Ltd.Tubos De Acero De Mexico (Tamsa) ADRAMTAM7,700770031/03/20000.01

    AIB Govett Asset Management Ltd.Tubos De Acero De Mexico (Tamsa) ORDMX10,000230031/08/20000.01

    AIB Govett Asset Management Ltd.Unibanco SA GDR UnitsNYUBB89,400-5520031/12/20000

    AIB Govett Asset Management Ltd.Usiminas Usi Sid Min Gerais ADR PfdPK96,6007790031/08/20000

    AIB Govett Asset Management Ltd.Cia Vale do Rio Doce ADRNYRIO P105,2607900031/08/20000

    AIB Govett Asset Management Ltd.Cia Vale do Rio Doce ORDSPCMPVP77,214-1803030/06/20000.03

    AIB Govett Asset Management Ltd.Cia Vale Do Rio Doce ORD PFD ASPVALE3PA121,020-19660031/12/20000.09

    AIB Govett Asset Management Ltd.Vina Concha y Toro SA ADRNYVCO11,800700031/08/20000

    AIB Govett Asset Management Ltd.Vitro SA ORDMX75,0002500031/08/20000.03

    AIB Govett Asset Management Ltd.Votorantim Celulose Papel (IPS) ADRNYVCP10,5301053031/08/20000

    AIB Govett Asset Management Ltd.Votorantim Celulose Papel ORD PfdSP3,330,700166630031/08/20000.02

    AIB Govett Asset Management Ltd.Wal Mart de Mexico Ord CMXCFRAC1,852,58577784331/12/20000.33

    AIB Govett Asset Management Ltd.Wal Mart de Mexico ORD VMX1,463,99221479231/12/20000.04

    AIB Govett Asset Management Ltd.Wal Mart de Mexico SA ADR CPKWMMXY122,00012200031/03/20000

    Aberdeen Asset Managers (London) LtdALFA SA ORD AMX65,0001400030/06/20000.01

    Aberdeen Asset Managers (London) LtdAmbev Companhia de Bebidas ADRNYABV C5,200520031/05/20000

    Aberdeen Asset Managers (London) LtdAracruz Celulose ADR Pfd BNYARA15,500940030/06/20000.03

    Aberdeen Asset Managers (London) LtdBBV Banco Frances SA ADRNYBFR3,000300030/06/20000

    Aberdeen Asset Managers (London) LtdGPO Fin Banamex (Banacci) ORD OMX90,0009000030/06/20000

    Aberdeen Asset Managers (London) LtdBrasil Telecom Participacoes ADR PRFNYBRP7,70060030/06/20000

    Aberdeen Asset Managers (London) LtdCIA Brasileira Dist Pao Acucar PfdSP7,000700030/06/20000

    Aberdeen Asset Managers (London) LtdCEMEX SA Spons ADR PCNYCX15,600030/06/20000

    Aberdeen Asset Managers (London) LtdCompania Cervecerias Unida ADRNYCU3,000300030/06/20000

    Aberdeen Asset Managers (London) LtdCoca-Cola Femsa SA Spons ADR LNYKOF9,000-3500031/12/20000

    Aberdeen Asset Managers (London) LtdCia Cervejaria Brahma ADR PfdNYBRH11,000030/06/20000

    Aberdeen Asset Managers (London) LtdConsorcio Ara SA De CV ORDMXCSRAYP62,000-1000030/06/20000.02

    Aberdeen Asset Managers (London) LtdCopel-Cia Paranaense Energia ADR PfdNYELP12,000-900030/06/20000

    Aberdeen Asset Managers (London) LtdCorporacion Geo SA ORD BMX34,700030/06/20000.03

    Aberdeen Asset Managers (London) LtdEmbratel Participacoes SA ADR PFDNYEMT5,000500030/06/20000

    Aberdeen Asset Managers (London) LtdFomento Econ Mex (FEMSA) ADRNYFMX9,400240030/06/20000.01

    Aberdeen Asset Managers Ltd.Fomento Econ Mex (FEMSA) ADRNYFMX8,500031/12/20000.01

    Aberdeen Asset Managers (London) LtdGrupo Iusacell Sa Spons Adr Ser VNYCEL22,100-150031/12/20000

    Aberdeen Asset Managers (London) LtdGrupo Televisa SA GDRNYTV4,500-410030/06/20000

    Aberdeen Asset Managers Ltd.Grupo Televisa SA GDRNYTV7,500750031/12/20000

    Aberdeen Asset Managers (London) LtdInteramericana Entreten ORD BMXCIEB35,163-3521031/12/20000.01

    Aberdeen Asset Managers (London) LtdKimberly Clark de Mexico SA ORD BMX20,0002000030/06/20000

    Aberdeen Asset Managers (London) LtdOrganizacion Soriana SA ORD BMX29,000030/06/20000

    Aberdeen Asset Managers (London) LtdPerez Companc S A Spons ADR BNYPC12,9001290030/06/20000

    Aberdeen Asset Managers (London) LtdPetroleo Brasileiro-Petrobras ORDSP6,000599630/06/20000

    Aberdeen Asset Managers (London) LtdQuimica y Minera ADR BNYSQM4,700470030/06/20000

    Aberdeen Asset Managers (London) LtdTV Azteca SA Spons ADRNYTZA20,000800031/12/20000

    Aberdeen Asset Managers (London) LtdTele Norte Leste Part ADRNYTNE26,911311830/06/20000

    Aberdeen Asset Managers Ltd.Tele Norte Leste Part ADRNYTNE17,402031/12/20000

    Aberdeen Asset Managers (London) LtdTelecom Argentina (STET) ADR BNYTEO2,300230030/06/20000

    Aberdeen Asset Managers (London) LtdCTC ADRNYCTC17,500550030/06/20000

    Aberdeen Asset Managers (London) LtdTelefonos de Mexico ADR LNYTMX7,400240031/05/20000

    Aberdeen Asset Managers Ltd.Telefonos de Mexico ADR LNYTMX15,000031/12/20000

    Aberdeen Asset Managers (London) LtdTelesp Celular Participacoes ADRNYTCP2,000-800030/06/20000

    Aberdeen Asset Managers (London) LtdUsiminas Usi Sid Min Ger ORD Pfd ASP20,0002000030/06/20000.02

    Aberdeen Asset Managers (London) LtdCia Vale Do Rio Doce ORD PFD ASPVALE3PA8,000030/06/20000.01

    Aberdeen Asset Managers (London) LtdWal Mart de Mexico Ord CMXCFRAC100,00010000030/06/20000.02

    AEGON Asset Management UK p.l.c.ALFA SA ORD AMX69,9466994631/01/20000.01

    AEGON Asset Management UK p.l.c.Aracruz Celulose ADR Pfd BNYARA4,943-5016430/06/20000.01

    AEGON Asset Management UK p.l.c.BBVA Banco BHIF Spons ADRNYBB10,7051070531/01/20000

    AEGON Asset Management UK p.l.c.BBV Banco Frances SA ADRNYBFR3,601360131/01/20000

    AEGON Asset Management UK p.l.c.GPO Fin Banamex (Banacci) ORD OMX546,36126911331/12/20000.01

    AEGON Asset Management UK p.l.c.Bco Galicia Bueno Aire ADR BPKBGALY15,9701597031/01/20000

    AEGON Asset Management UK p.l.c.Brasil Telecom Participacoes ADR PRFNYBRP2,741274131/01/20000

    AEGON Asset Management UK p.l.c.Cia Brasil Dist Pao Acucar GDR Reg SNYCBD19,8001980015/09/20000

    AEGON Asset Management UK p.l.c.CPT Telefonica Del Peru ADR BNYTDP20,2072020731/01/20000

    AEGON Asset Management UK p.l.c.Carso Global Telecom SA CV Ord A1MXCGTVY22,1502215031/01/20000

    AEGON Asset Management UK p.l.c.CEMEX SA Spons ADR PCNYCX75,7487574815/09/20000

    AEGON Asset Management UK p.l.c.CEMIG ADR PfdPK7,562658531/03/20000

    AEGON Asset Management UK p.l.c.Compania Cervecerias Unida ADRNYCU4,787478731/01/20000

    AEGON Asset Management UK p.l.c.Cia Cervejaria Brahma ADR PfdNYBRH12,4001240031/01/20000.01

    AEGON Asset Management UK p.l.c.Desc SA de CV Spons ADR CNYDES8,55050131/12/20000.01

    AEGON Asset Management UK p.l.c.Desc SA de CV ORD BMX50,671-1216631/12/20000.01

    AEGON Asset Management UK p.l.c.Distribucion Y Servicio ADRNYDYS8,306830631/01/20000

    AEGON Asset Management UK p.l.c.Embotelladora Andina ADR ANYAKO A6,203620331/01/20000

    AEGON Asset Management UK p.l.c.Embraer Aircraft Corp ADRNYERJ10,342846031/12/20000.02

    AEGON Asset Management UK p.l.c.Embratel Participacoes SA ADR PFDNYEMT23,3332333331/01/20000.01

    AEGON Asset Management UK p.l.c.Enersis SA ADRNYENI6,057605731/01/20000

    AEGON Asset Management UK p.l.c.Grupo Financiero BBVA Bancomer Ord OMXGFBBO773,00077300031/01/20000.01

    AEGON Asset Management UK p.l.c.Fomento Econ Mex (FEMSA) ADRNYFMX4,900490031/01/20000.01

    AEGON Asset Management UK p.l.c.Gerdau SA ADRNYGGB18,2801828031/01/20000

    AEGON Asset Management UK p.l.c.Grupo Carso SA ORD A1MX39,0003900031/01/20000

    AEGON Asset Management UK p.l.c.Grupo Carso SA de CV ADRPK7,173-506431/12/20000

    AEGON Asset Management UK p.l.c.Grupo Elektra SA ORD LMX272,34027234031/01/20000.07

    AEGON Asset Management UK p.l.c.Grupo Modelo SA ORD CMX145,10214510231/01/20000.02

    AEGON Asset Management UK p.l.c.Grupo Televisa SA GDRNYTV31,617-472231/12/20000

    AEGON Asset Management UK p.l.c.Masisa S A ADRNYMYS12,0371203731/01/20000

    AEGON Asset Management UK p.l.c.Pecom Energia SA ORD BBUPECO43,1614316131/01/20000.01

    AEGON Asset Management UK p.l.c.Petroleo Brasileiro-Petrobras ADR PFPKPBRQY21,0302103031/01/20000

    AEGON Asset Management UK p.l.c.Petroleo Brasileiro S.A. ADRNYPBR15,8021262331/12/20000

    AEGON Asset Management UK p.l.c.Siderca SA ORD RegBU52,8225282231/01/20000.01

    AEGON Asset Management UK p.l.c.Tele Celular Sul Part ADRNYTSU6,580658031/01/20000.06

    AEGON Asset Management UK p.l.c.Tele Norte Leste Part ADRNYTNE51,0565105630/06/20000

    AEGON Asset Management UK p.l.c.Telebras (Telec Brasileir) ADR PfdNYTBH1,17810631/12/20000

    AEGON Asset Management UK p.l.c.CTC ADRNYCTC10,7291072931/01/20000

    AEGON Asset Management UK p.l.c.Telefonica de Argentina SA ADR BNYTAR10,6211062131/01/20000

    AEGON Asset Management UK p.l.c.Telefonos de Mexico ADR LNYTMX54,4574974931/12/20000

    AEGON Asset Management UK p.l.c.Telemig Celular Participacoes ADRNYTMB3,880388031/01/20000.04

    AEGON Asset Management UK p.l.c.Telesp Tel De Sao Paulo ADRNYTSP19,4671869331/12/20000

    AEGON Asset Management UK p.l.c.Unibanco SA GDR UnitsNYUBB10,165207231/12/20000

    AEGON Asset Management UK p.l.c.Cia Vale do Rio Doce ADRNYRIO P17,7781777831/01/20000

    AEGON Asset Management UK p.l.c.Wal Mart de Mexico ORD VMX202,59320259331/01/20000.01

    AEGON Nederland N.V.ALFA SA ORD AMX181,02318102331/12/19990.03

    AEGON Nederland N.V.Ambev Cia De Bebidas Americas OrdSPAMBV315,031,550381098531/12/19990.09

    AEGON Nederland N.V.Apasco SA ORDMX127,76812776831/12/19990.05

    AEGON Nederland N.V.Aracruz Celulose ORDSP295,10529510531/12/19990.06

    AEGON Nederland N.V.Aracruz Celulose Pfd BSP210,54621054631/12/19990.04

    AEGON Nederland N.V.Banco Bradesco ORDSP321,446,38032144638031/12/19990.05

    AEGON Nederland N.V.Banco Do Brasil SA ORDSP98,698,9919869899131/12/19990.02

    AEGON Nederland N.V.Banco Itau SA ORDSP1,065,272106527231/12/19990

    AEGON Nederland N.V.Banco Itau SA PfdSP1,686,004168600431/12/19990

    AEGON Nederland N.V.Brasil Telecom Participacoes SA ORDSPTCSP359,518,276-6000861331/12/19990.05

    AEGON Nederland N.V.Brasil Telecom Participacoes SA PFDSPTCSP424,357,2682435726831/12/19990.01

    AEGON Nederland N.V.Carso Global Telecom SA CV Ord A1MXCGTVY282,97728297731/12/19990.01

    AEGON Nederland N.V.CEMEX SA Ord Ser AMX535,73853573831/12/19990.02

    AEGON Nederland N.V.CEMEX SA Ord Ser BMXCMXBY771,51977151931/12/19990.05

    AEGON Nederland N.V.CEMIG ORDSPCEMZY59,415,6725941567231/12/19990.09

    AEGON Nederland N.V.Eletrobras Cent Ele Bras ADRPKCAIFY232,34323234331/12/19990.03

    AEGON Nederland N.V.Embratel Participacoes SA ORDSPEBTP368,439,985-5108690431/12/19990.11

    AEGON Nederland N.V.Embratel Participacoes SA ADR PFDNYEMT60,8006080031/12/19990.03

    AEGON Nederland N.V.Grupo Bimbo SA de CV Ser AMX218,48921848931/12/19990.02

    AEGON Nederland N.V.Grupo Carso SA ORD A1MX326,05232605231/12/19990.04

    AEGON Nederland N.V.Grupo Industrial Emprex ORD BMX171,67617167631/12/19990

    AEGON Nederland N.V.Grupo Mexico SA Ord BMXNGMEXICB313,77631377631/12/19990.05

    AEGON Nederland N.V.Grupo Televisa SA GDRNYTV36,0403604031/12/19990

    AEGON Nederland N.V.Industrias Penoles SA ORD CtfMX134,57713457731/12/19990.03

    AEGON Nederland N.V.Kimberly Clark de Mexico SA ORD AMXKMBMF206,82120682131/12/19990.03

    AEGON Nederland N.V.Petroleo Brasileiro-Petrobras ORDSP185,32618532631/12/19990.03

    AEGON Nederland N.V.SA San Miguel AGICI y F ORD BBUSAMI62,6166261631/12/19990.16

    AEGON Nederland N.V.Savia Spons ADRNYVAI40,1354013531/12/19990.03

    AEGON Nederland N.V.Siderurgica Venezolana Sivensa ORD ACA30,984,2093098420931/12/19991.24

    AEGON Nederland N.V.Tele Norte Leste Part ORDSPTNLP3174,284,2283766499431/12/19990.14

    AEGON Nederland N.V.Telefonos de Mexico Sa De Cv ADR ANDTFONY58,1935819331/12/19990.34

    AEGON Nederland N.V.Telefonos de Mexico ORD AMX1,636,126163612631/12/19990.48

    AEGON Nederland N.V.Telesp Celular Participacoes ADRNYTCP32,0483204831/12/19990

    AEGON Nederland N.V.Telesp Tel De Sao Paulo ADRNYTSP32,7813278131/12/19990

    AEGON Nederland N.V.Wal Mart de Mexico Ord CMXCFRAC1,491,004149100431/12/19990.26

    Ahorro Corporacin Gestin S.G.I.I.CAracruz Celulose ADR Pfd BNYARA41,555-2123330/09/20000.07

    Ahorro Corporacin Gestin S.G.I.I.CBr Distribuidora Petrobras Pfd ADRPK15,9551595530/09/20000.03

    Ahorro Corporacin Gestin S.G.I.I.CGPO Fin Banamex (Banacci) ORD OMX2,221,071222107130/09/20000.05

    Ahorro Corporacin Gestin S.G.I.I.CBanco Itau SA PfdSP9,371,21039213730/09/20000.02

    Ahorro Corporacin Gestin S.G.I.I.CBanco Santiago ADRNY1,493149130/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CCia Brasil Dist Pao Acucar GDR Reg SNYCBD24,7492078030/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CCANTV ADRNYVNT7,465-2630/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CCarso Global Telecom SA CV Ord A1MXCGTVY463,62844381730/09/20000.01

    Ahorro Corporacin Gestin S.G.I.I.CCEMIG ORDSPCEMZY8,160,975-16049630/09/20000.01

    Ahorro Corporacin Gestin S.G.I.I.CCia Paranaense de Energia Spon ADRPKELPVY65,4555802330/09/20000.05

    Ahorro Corporacin Gestin S.G.I.I.CCopel-Cia Paranaense Energia ADR PfdNYELP34,700-4748930/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CEletrobras Cent Ele Bras ORD Pfd BSP46,012,92280937130/09/20000.05

    Ahorro Corporacin Gestin S.G.I.I.CEmbratel Participacoes SA ADR PFDNYEMT66,686-3764330/09/20000.03

    Ahorro Corporacin Gestin S.G.I.I.CEndesa de Chile ADRNYEOC11,79272430/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CEnersis SA ADRNYENI10,8481084630/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CGrupo Financiero BBVA Bancomer Ord OMXGFBBO516,25751625730/09/20000.01

    Ahorro Corporacin Gestin S.G.I.I.CFomento Econ Mex (FEMSA) ADRNYFMX15,588460930/09/20000.02

    Ahorro Corporacin Gestin S.G.I.I.CGener SA Spon ADRNYCHR22,022237630/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CGlobo Cabo Spons ADRNDGLCBY57,7641643530/09/20000.04

    Ahorro Corporacin Gestin S.G.I.I.CGrupo Carso SA ORD A1MX110,324353130/09/20000.01

    Ahorro Corporacin Gestin S.G.I.I.CGrupo Modelo SA ORD CMX335,6099940830/09/20000.05

    Ahorro Corporacin Gestin S.G.I.I.CGrupo Televisa SA GDRNYTV19,672158130/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CMinas Buenaventura Spons ADR BNYBVN15,155-7130/09/20000

    Ahorro Corporacin Gestin S.G.I.I.COrganizacion Soriana SA ORD BMX111,11563130/09/20000.02

    Ahorro Corporacin Gestin S.G.I.I.CPetroleo Brasileiro-Petrobras PFDSP50,63356430/09/20000.01

    Ahorro Corporacin Gestin S.G.I.I.CPetroleo Brasileiro S.A. ADRNYPBR7,045704530/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CQuimica y Minera ADR ANYSQM A6,21742430/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CTV Azteca SA Spons ADRNYTZA40,4084040830/09/20000.01

    Ahorro Corporacin Gestin S.G.I.I.CTele Norte Leste Part ADRNYTNE45,706715930/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CTelebras Spons ADR RCTBNYRTB5,067-497230/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CTelecom Argentina (STET) ADR BNYTEO53,047494330/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CCTC ADRNYCTC99,2654410730/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CTelefonos de Mexico ADR LNYTMX59,7221923630/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CUnibanco SA GDR UnitsNYUBB29,811-1571830/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CCia Vale Do Rio Doce ORD PFD ASPVALE3PA45,395-26630/09/20000.03

    Ahorro Corporacin Gestin S.G.I.I.CVina Concha y Toro SA ADRNYVCO1,1383330/09/20000

    Ahorro Corporacin Gestin S.G.I.I.CWal Mart de Mexico ORD VMX510,2258337430/09/20000.01

    Allchurches Investment ManagementTelecom Argentina (STET) ADR BNYTEO14,0001400030/06/20000

    Allchurches Investment ManagementTelefonos de Mexico ADR LNYTMX11,2001120030/06/20000

    Allfonds Bayerische KapitalanlageTele Celular Sul Part ADRNYTSU90045030/09/20000.01

    Allfonds Bayerische KapitalanlageTele Centro Oeste Celular Part ADRNYTRO1,500030/09/20000

    Allfonds Bayerische KapitalanlageTele Leste Celular Part ADRNYTBE90030/09/20000

    Allfonds Bayerische KapitalanlageTele Norte Celular Part ADRNYTCN90030/09/20000

    Allfonds Bayerische KapitalanlageTelemig Celular Participacoes ADRNYTMB45022530/09/20000

    Alliance Capital Ltd. (UK)Ambev Companhia de Bebidas ADRNYABV C102,00010200031/08/20000.08

    Alliance Capital Ltd. (UK)Apasco SA ORDMX283,00015500031/08/20000.11

    Alliance Capital Ltd. (UK)BBV Banco Frances SA ADRNYBFR114,0005600031/08/20000

    Alliance Capital Ltd. (UK)Banco Bradesco PfdSP142,660,0002560741331/12/20000.02

    Alliance Capital Ltd. (UK)Banco Itau SA PfdSP23,000,0002300000031/12/20000.04

    Alliance Capital Ltd. (UK)Brasil Telecom Participacoes ADR PRFNYBRP52,800-2730031/12/20000

    Alliance Capital Ltd. (UK)Cia Brasil Dist Pao Acucar GDR Reg SNYCBD58,000600031/08/20000

    Alliance Capital Ltd. (UK)Siderurgica Nacional CSN ORDSP135,000,00013500000031/12/20000.18

    Alliance Capital Ltd. (UK)Celular Crt Partic Ord Pfd ASP61,879-129864431/12/20000

    Alliance Capital Ltd. (UK)Compania Cervecerias Unida ADRNYCU131,0007400031/08/20000

    Alliance Capital Ltd. (UK)Copel-Cia Paranaense Energia ADR PfdNYELP112,000-29190031/12/20000

    Alliance Capital Ltd. (UK)Distribucion Y Servicio ADRNYDYS225,50013140031/08/20000

    Alliance Capital Ltd. (UK)Embraer Aircraft Corp ADRNYERJ1,600-100031/12/20000

    Alliance Capital Ltd. (UK)Embratel Participacoes SA ADR PFDNYEMT252,8003000031/12/20000.12

    Alliance Capital Ltd. (UK)Explosivos SA ORDLM2,561,73628195431/12/20006.52

    Alliance Capital Ltd. (UK)Ferreyros SA OrdLM810,203-80642231/12/20000.5

    Alliance Capital Ltd. (UK)Grupo Financiero BBVA Bancomer Ord OMXGFBBO5,475,000425500031/12/20000.07

    Alliance Capital Ltd. (UK)Fomento Econ Mex (FEMSA) ADRNYFMX75,0204300031/08/20000.12

    Alliance Capital Ltd. (UK)Gerdau SA ADRNYGGB82,0008200030/12/19990

    Alliance Capital Ltd. (UK)Gerdau SA PFDSPGGB541,812,15824679193531/12/20000.73

    Alliance Capital Ltd. (UK)Globo Cabo Spons ADRNDGLCBY118,5007600031/08/20000.07

    Alliance Capital Ltd. (UK)Grimoldi SA ORD BBU73,783031/08/20000.88

    Alliance Capital Ltd. (UK)GRUMA SA Spon ADR BNYGMK28,226031/08/20000.03

    Alliance Capital Ltd. (UK)Grupo Iusacell Sa Spons Adr Ser VNYCEL680,11437590031/12/20000.12

    Alliance Capital Ltd. (UK)Grupo Televisa SA GDRNYTV11,000-300031/08/20000

    Alliance Capital Ltd. (UK)Grupo Video Visa SA OrdMXVIDEO333,114031/08/20000.33

    Alliance Capital Ltd. (UK)Grupo Financiero Banorte Ser OMX9,773,802132000031/12/20002.01

    Alliance Capital Ltd. (UK)International Briquettes Holding ORDCA49,214031/08/20000.27

    Alliance Capital Ltd. (UK)Internacional Ceramica ORD ULDMX59,086031/08/20000.33

    Alliance Capital Ltd. (UK)Itausa Investim Itau (ITSA) ORD PfdSP2,440,000210000031/12/20000.11

    Alliance Capital Ltd. (UK)Itausa Investim Itau (ITSA) ORDSP170,00017000031/08/20000.04

    Alliance Capital Ltd. (UK)Metalurgica Gerdau Group ORDSP29,786,2182231825931/08/20000.43

    Alliance Capital Ltd. (UK)Metalurgica Gerdau ORD Pfd RegSP339,674,97213794540231/12/20002.45

    Alliance Capital Ltd. (UK)Nortel Inversora Spon ADRNYNTL321,0002600031/12/20000

    Alliance Capital Ltd. (UK)Cia Riograndense Telecom ORD Pfd ASP111,879-9436231/12/20000.01

    Alliance Capital Ltd. (UK)Tele Celular Sul Part ADRNYTSU188,0008620031/12/20001.63

    Alliance Capital Ltd. (UK)Tele Norte Leste Part ADRNYTNE46,0004600031/12/20000

    Alliance Capital Ltd. (UK)Tele Sudeste Celular Part SA ADRNYTSD65,0001950031/12/20000

    Alliance Capital Ltd. (UK)CTC ADRNYCTC199,500-11900031/12/20000

    Alliance Capital Ltd. (UK)Telefonos de Mexico ADR LNYTMX585,10018583831/12/20000

    Alliance Capital Ltd. (UK)Telesp Celular Participacoes ADRNYTCP183,5009900031/12/20000

    Alliance Capital Ltd. (UK)Tubos De Acero De Mexico (Tamsa) ADRAMTAM705,80019400031/12/20001.03

    Alliance Capital Ltd. (UK)Wal Mart de Mexico ORD VMX650,0002000031/08/20000.02

    The Alliance Trust p.l.c.Telefonos de Mexico ORD AMX808,44580844531/07/20000.24

    The Alliance Trust p.l.c.Telefonos de Mexico ORD LMX1,158,705115870531/01/20000.01

    American Express Asset ManagementALFA SA ORD AMX2,004,07011307330/06/20000.33

    American Express Asset ManagementAmbev Cia De Bebidas Americas OrdSPAMBV3252,92525292531/12/19990

    American Express Asset ManagementApasco SA ORDMX3,018301831/12/19990

    American Express Asset ManagementAracruz Celulose Pfd BSP6,495649531/12/19990

    American Express Asset ManagementGPO Fin Banamex (Banacci) ORD OMX5,649,600505860030/06/20000.12

    American Express Asset ManagementBanco Bradesco PfdSP3,237,137323713731/12/19990

    American Express Asset ManagementBanco Itau SA PfdSP310,39831039831/12/19990

    American Express Asset ManagementCarso Global Telecom SA CV Ord A1MXCGTVY5,288528831/12/19990

    American Express Asset ManagementCEMEX SA Ord Ser BMXCMXBY49249231/12/19990

    American Express Asset ManagementCEMEX SA Ord CPOMX4,213421331/12/19990

    American Express Asset ManagementCEMEX SA Spons ADR PCNYCX216,5004550030/06/20000

    American Express Asset ManagementCIA DE CIGARROS SOUZA CRUZ SA ORDSP6,122612231/12/19990

    American Express Asset ManagementCopel-Cia Paranaense Energia ADR PfdNYELP860,388217330/06/20000

    American Express Asset ManagementDesc SA de CV ORD AMX16,9341693431/12/19990

    American Express Asset ManagementDistribucion Y Servicio ADRNYDYS301,649030/06/20000

    American Express Asset ManagementEletrobras Cent Ele Bras ORD Pfd BSP65465431/12/19990

    American Express Asset ManagementEmbratel Participacoes SA ADR PFDNYEMT420,854-191595031/12/20000.2

    American Express Asset ManagementEndesa de Chile ADRNYEOC3,362-51230/06/20000

    American Express Asset ManagementEnersis SA ADRNYENI202,20020220030/06/20000

    American Express Asset ManagementEricsson Telecomunicacoes ORDSP5531/12/19990

    American Express Asset ManagementFomento Econ Mex (FEMSA) ADRNYFMX127,000-56980031/12/20000.2

    American Express Asset ManagementFomento Econ Mex (FEMSA) ORD B UnitMXFEMSUB6,561656131/12/19990

    American Express Asset ManagementFomento Econ Mex (FEMSA) ORD BD UnitMXFEMSUBD11411431/12/19990

    American Express Asset ManagementGerdau SA PFDSPGGB465,985,47216464145230/06/20000.63

    American Express Asset ManagementGrupo Bimbo SA de CV Ser AMX37,8113781131/12/19990

    American Express Asset ManagementGrupo Carso SA ORD A1MX10,5841058431/12/19990

    American Express Asset ManagementGrupo Continental ORD CPOMX55455431/12/19990

    American Express Asset ManagementGrupo Continental Ord Ser IMX5,793579331/12/19990

    American Express Asset ManagementGrupo Industrial Saltillo ORD BMXGISS3/B10,5841058431/12/19990

    American Express Asset ManagementGrupo Mexico SA Ord BMXNGMEXICB6,768676831/12/19990

    American Express Asset ManagementGrupo Modelo SA ORD CMX2,256,923225692330/06/20000.35

    American Express Asset ManagementGrupo Televisa SA GDRNYTV1,266-7090330/06/20000

    American Express Asset ManagementGrupo Televisa SA ORD PCMX1,349134931/12/19990

    American Express Asset ManagementIndustrias Penoles SA ORD CtfMX21,1722117231/12/19990.01

    American Express Asset ManagementItausa Investim Itau (ITSA) ORD PfdSP31,004-737626530/06/20000

    American Express Asset ManagementKimberly Clark de Mexico SA ADR APKKCDMY19919931/12/19990

    American Express Asset ManagementKimberly Clark de Mexico SA ORD AMXKMBMF1,656,626165662630/06/20000.25

    American Express Asset ManagementLight Servicos Eletricidade SA ORDSP452,43945243931/12/19990.01

    American Express Asset ManagementOrganizacion Soriana SA ORD BMX2,474,29423640130/06/20000.41

    American Express Asset ManagementPetroleo Brasileiro-Petrobras ORDSP229,427-9659730/06/20000.04

    American Express Asset ManagementPetroleo Brasileiro-Petrobras PFDSP4331/12/19990

    American Express Asset ManagementEl Puerto De Liverpool SA ORD 1MX52,9395293931/12/19990

    American Express Asset ManagementQuimica y Minera ADR BNYSQM1,948-29730/06/20000

    American Express Asset ManagementCIA Siderurgica Tubarao (CST) PfdSP4,356,121-66368430/06/20000.01

    American Express Asset ManagementTele Centro Oeste Celular Part ADRNYTRO424,10042410030/06/20000

    American Express Asset ManagementTele Norte Leste Part ADRNYTNE350,7672930/06/20000

    American Express Asset ManagementTele Norte Leste Part ORD PFDSPTNLP41,267,245126724531/12/19990

    American Express Asset ManagementCTC ADRNYCTC384,34837962231/12/20000

    American Express Asset ManagementTelefonos de Mexico ADR LNYTMX883,59833343831/12/20000

    American Express Asset ManagementTelefonos de Mexico ORD AMX6,036603631/12/19990

    American Express Asset ManagementTelefonos de Mexico ORD LMX49,5024950231/12/19990

    American Express Asset ManagementTelepara Tel Para OrdSP70570531/12/19990

    American Express Asset ManagementTelesp Celular Participacoes ORD PFDSPTSPP4804,13680413631/12/19990

    American Express Asset ManagementTubos De Acero De Mexico (Tamsa) ADRAMTAM333,400-17460030/06/20000.49

    American Express Asset ManagementUnibanco SA GDR UnitsNYUBB189,788-7821230/06/20000

    American Express Asset ManagementUnibanco SA ORD PfdSP600,70560070531/12/19990

    American Express Asset ManagementUnibanco SA Unit Prf + Pfr BSP761,67376167331/12/19990.01

    American Express Asset ManagementCia Vale do Rio Doce ORDSPCMPVP2,037203731/12/19990

    American Express Asset ManagementCia Vale Do Rio Doce ORD PFD ASPVALE3PA1,053105331/12/19990

    American Express Asset ManagementVitro SA ORDMX24,1972419731/12/19990.01

    American Express Asset ManagementWal Mart de Mexico Ord CMXCFRAC16,6341663431/12/19990

    American Express Asset ManagementWal Mart de Mexico ORD VMX30,2493024931/12/19990

    Anima SGR.p.A.Banco Galicia Buen Aires ORD BBU7,923792330/06/20000

    Anima SGR.p.A.CPT Telefonica Del Peru ADR BNYTDP4,013-2591830/06/20000

    Anima SGR.p.A.CANTV ADRNYVNT2,006200630/06/20000

    Anima SGR.p.A.CEMIG ADR PfdPK1,833183330/06/20000

    Anima SGR.p.A.Compania Cervecerias Unida ADRNYCU2,006200630/06/20000

    Anima SGR.p.A.Grupo Televisa SA GDRNYTV50750730/06/20000

    Anima SGR.p.A.Tele Celular Sul Part ADRNYTSU1,003100330/06/20000.01

    Anima SGR.p.A.Telecom Argentina (STET) ADR BNYTEO3,009300930/06/20000

    Anima SGR.p.A.CTC ADRNYCTC2,006200630/06/20000

    Anima SGR.p.A.Telefonica de Argentina SA ADR BNYTAR1,003100330/06/20000

    Anima SGR.p.A.Telefonos de Mexico ADR LNYTMX50250230/06/20000

    Anima SGR.p.A.Usiminas Usi Sid Min Gerais ADR PfdPK10,136-4875230/06/20000

    Arcalia Inversiones S.A.Banco Bilbao Vizcaya Intl ADR PRF ENYBVG PE9,964996431/03/20000.1

    Arcalia Inversiones S.A.Inmobiliaria Urbana SA ORDCH2,058205831/03/20000

    Arcalia Inversiones S.A.Telesp Tel De Sao Paulo ADRNYTSP7,613761331/03/20000

    Arcalia Inversiones S.A.Telesp Tel Sao Pau ORD PFDSPTLPP44,043,935404393531/03/20000

    Aureo Gestioni SGR pACEMEX SA Spons ADR PCNYCX71,1677116730/06/20000

    Aureo Gestioni SGR pACoca-Cola Femsa SA Spons ADR LNYKOF105,00010500030/06/20000

    Aureo Gestioni SGR pAEmbratel Participacoes SA ADR PFDNYEMT63,5006350030/06/20000.03

    Aureo Gestioni SGR pAGrupo Iusacell Sa Spons Adr Ser VNYCEL60,0006000030/06/20000.01

    Aureo Gestioni SGR pAGrupo Televisa SA GDRNYTV29,0002900030/06/20000

    Aureo Gestioni SGR pAPepsi-Gemex SA GDRNY184,00018400030/06/20000.27

    Aureo Gestioni SGR pATV Azteca SA Spons ADRNYTZA96,0009600030/06/20000.02

    Aureo Gestioni SGR pATele Norte Leste Part ADRNYTNE38,4663846630/06/20000

    Aureo Gestioni SGR pATelebras (Telec Brasileir) ADRPKTBAPY28,0002800030/06/20000.01

    Aureo Gestioni SGR pATelefonos de Mexico ADR LNYTMX9,700970030/06/20000

    Aureo Gestioni SGR pATelenordeste Celular Part ADRNYTND17,0001700030/06/20000

    Aureo Gestioni SGR pATelesp Celular Participacoes ADRNYTCP18,0001800030/06/20000

    Avanse Forvaltning A/SWal Mart de Mexico S A Spons AdrPKWMMVY100-2930031/10/20000

    AXA Investment Managers ParisAmbev Cia de Bebidas Ord PrfSPAMBVA1,440,000144000031/12/20000.01

    AXA Investment Managers ParisBBV Banco Frances SA ADRNYBFR71,0007100031/12/20000

    AXA Investment Managers ParisGPO Fin Banamex (Banacci) ORD OMX391,140-7986031/12/20000.01

    AXA Investment Managers ParisBco de A Edwards Spons ADRNYAED110,197031/12/20000

    AXA Investment Managers ParisBanco Galicia Buen Aires ORD BBU28,830-1840130/06/20000.01

    AXA Investment Managers ParisBanco Itau SA PfdSP976,000-810900030/06/20000

    AXA Investment Managers ParisCIA Brasileira Dist Pao Acucar PfdSP2,000,000200000031/03/20000

    AXA Investment Managers ParisCANTV ADRNYVNT44,000031/12/20000

    AXA Investment Managers ParisCarso Global Telecom SA CV Ord A1MXCGTVY18,000031/12/20000

    AXA Investment Managers ParisCEMEX SA Ord CPOMX20,9002090031/03/20000

    AXA Investment Managers ParisCEMEX SA Spons ADR PCNYCX92031/12/20000

    AXA Investment Managers ParisCEMIG PfdSP27,941,000-326500031/12/20000.03

    AXA Investment Managers ParisCELESC-Cent Elet ORD Pfd BSP24,266,0002420123430/06/20005.78

    AXA Investment Managers ParisCompania Cervecerias Unida ADRNYCU78,000031/12/20000

    AXA Investment Managers ParisCoca-Cola Femsa SA Spons ADR LNYKOF184,850-3890031/12/20000

    AXA Investment Managers ParisCopel-Cia Paranaense Energia ADR PfdNYELP711,000-8450031/12/20000

    AXA Investment Managers ParisEmbratel Participacoes SA ADR PFDNYEMT462,000-4000031/12/20000.22

    AXA Investment Managers ParisEmbratel Participacoes SA ORD PFDSPEBTP419,516,000200500031/12/20000.01

    AXA Investment Managers ParisEndesa de Chile ADRNYEOC202,500-15470031/12/20000

    AXA Investment Managers ParisFomento Econ Mex (FEMSA) ORD BD UnitMXFEMSUBD174,0007900031/12/20000.03

    AXA Investment Managers ParisGrupo Bimbo SA de CV Ser AMX36,467-28386030/06/20000

    AXA Investment Managers ParisGrupo Carso SA ORD A1MX377,2376991730/06/20000.04

    AXA Investment Managers ParisGrupo Financiero Galicia ADRNDGGAL14,819031/12/20000

    AXA Investment Managers ParisGrupo Industrial Emprex ORD BMX40,7004070031/03/20000

    AXA Investment Managers ParisGrupo Iusacell SA ORD DMX32,0003200030/06/20000.02

    AXA Investment Managers ParisGrupo Televisa SA GDRNYTV102,850-1000031/12/20000

    AXA Investment Managers ParisGrupo Financiero Banorte Ser OMX32,2003220031/03/20000.01

    AXA Investment Managers ParisIRSA ORDBUIRSA44,350-3131530/06/20000.02

    AXA Investment Managers ParisMetalurgica Gerdau Group ORDSP7,000-1350000030/06/20000

    AXA Investment Managers ParisMinas Buenaventura Spons ADR BNYBVN102,00010200031/12/20000

    AXA Investment Managers ParisPecom Energia SA ORD BBUPECO100,0644106431/12/20000.01

    AXA Investment Managers ParisPerez Companc S A Spons ADR BNYPC208,904-1058431/12/20000

    AXA Investment Managers ParisPetroleo Brasileiro-Petrobras ADR PFPKPBRQY190,000031/12/20000

    AXA Investment Managers ParisPetroleo Brasileiro-Petrobras ORDSP48,760-1020030/06/20000.01

    AXA Investment Managers ParisPetroleo Brasileiro-Petrobras PFDSP25,090371031/12/20000.01

    AXA Investment Managers ParisSiderca SA ORD RegBU183,630-2392030/06/20000.02

    AXA Investment Managers ParisTele Celular Sul Part ORD PFDSPTCSL418,877,000952100031/03/20000.01

    AXA Investment Managers ParisTele Norte Leste Part ORD PFDSPTNLP410,548,180-251213331/12/20000

    AXA Investment Managers ParisTelebras (Telec Brasileir) ADRPKTBAPY400031/12/20000

    AXA Investment Managers ParisCTC ADRNYCTC224,950-1380031/12/20000

    AXA Investment Managers ParisTelefonos de Mexico ADR LNYTMX437,9001300031/12/20000

    AXA Investment Managers ParisTelefonos de Mexico ORD LMX193,00019300030/06/20000

    AXA Investment Managers ParisTelemig Celular Participacoes ORD PFSPTMCP415,927,0001592700031/03/20000.01

    AXA Investment Managers ParisTelesp Celular Participacoes ORD PFDSPTSPP411,313,000-289500031/12/20000

    AXA Investment Managers ParisUnibanco SA GDR UnitsNYUBB342,900-1900031/12/20000

    AXA Investment Managers ParisUnibanco SA ORD PfdSP4,264,424160969431/12/20000.01

    AXA Investment Managers ParisUnibanco SA ORD RegSP11,735,576030/06/20000.02

    AXA Investment Managers ParisCia Vale do Rio Doce ORDSPCMPVP48,200-1980030/06/20000.02

    AXA Investment Managers ParisCia Vale Do Rio Doce ORD PFD ASPVALE3PA24,000-200031/12/20000.02

    AXA Investment Managers ParisCia Vale do Rio Doce ORD PFD BSP29,538031/12/20000

    AXA Investment Managers ParisWal Mart de Mexico ORD VMX979,000-16652031/12/20000.03

    AXA Investment Managers ParisWal Mart de Mexico SA ADR CPKWMMXY106,42010642031/03/20000

    BBVA Gestion, S.A., S.G.I.I.C.ALFA SA ORD AMX601,915324930/09/20000.1

    BBVA Gestion, S.A., S.G.I.I.C.Aracruz Celulose Pfd BSP306,581-95630/09/20000.05

    BBVA Gestion, S.A., S.G.I.I.C.BBVA Banco BHIF Spons ADRNYBB70,2925555730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.BBVA Banco BHIF ORDCH1,274,167127416730/09/19990.35

    BBVA Gestion, S.A., S.G.I.I.C.BBV Banco Frances SA ADRNYBFR88,0007750030/06/20000

    BBVA Gestion, S.A., S.G.I.I.C.BBV Banco Frances SA ORD RegBUBFR190,843163930/09/20000.09

    BBVA Gestion, S.A., S.G.I.I.C.GPO Fin Banamex (Banacci) ORD OMX4,432,248280073430/09/20000.09

    BBVA Gestion, S.A., S.G.I.I.C.Banco Bilbao Vizcaya Ord Ser BMX484831/03/20000

    BBVA Gestion, S.A., S.G.I.I.C.Banco Bradesco PfdSP360,496,902638954230/09/20000.05

    BBVA Gestion, S.A., S.G.I.I.C.Banco Continental Peru ORDLM2,870,894254798730/09/20000.38

    BBVA Gestion, S.A., S.G.I.I.C.Bco de A Edwards Spons ADRNYAED52,8775287730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Bco Galicia Bueno Aire ADR BPKBGALY22,924-8977630/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Banco Ganadero ORDBG13,652,3421365234230/09/19990.43

    BBVA Gestion, S.A., S.G.I.I.C.Banco Itau SA PfdSP37,782,646174632630/09/20000.07

    BBVA Gestion, S.A., S.G.I.I.C.Banco Provincial Saica ORDCA1,016,229101622930/09/19990.12

    BBVA Gestion, S.A., S.G.I.I.C.Brasil Telecom Participacoes ADR PRFNYBRP45,1343791730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Cia Brasil Dist Pao Acucar GDR Reg SNYCBD24,308-279930/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.CPT Telefonica Del Peru ORD BLMTDP396,38339638330/09/19990.03

    BBVA Gestion, S.A., S.G.I.I.C.CPT Telefonica Del Peru ADR BNYTDP33,957-1047730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.CANTV ADRNYVNT72,8491666530/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Carso Global Telecom SA CV Ord A1MXCGTVY1,155,5648381930/09/20000.03

    BBVA Gestion, S.A., S.G.I.I.C.Celular Crt Partic Ord Pfd ASP4,853,62045603730/09/20000.27

    BBVA Gestion, S.A., S.G.I.I.C.Cementos Lima SA ORD CLM8115030/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.CEMEX SA Ord CPOMX131,6776767630/09/20000.01

    BBVA Gestion, S.A., S.G.I.I.C.CEMEX SA Spons ADR PCNYCX128,8371544530/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Cia Paranaense de Energia Spon ADRPKELPVY197,37319737330/09/20000.14

    BBVA Gestion, S.A., S.G.I.I.C.Coca-Cola Femsa SA Spons ADR LNYKOF86,498-174130/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Consorcio Ara SA De CV ORDMXCSRAYP457,619-3027430/09/20000.14

    BBVA Gestion, S.A., S.G.I.I.C.Controladora Comercial Mex ORD UNITMX204,581-12259330/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Copel-Cia Paranaense Energia ADR PfdNYELP76,500-19557430/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Credicorp Ltd ORDNYBAP59,88334030/09/20000.06

    BBVA Gestion, S.A., S.G.I.I.C.Desc SA de CV Spons ADR CNYDES2,765-768530/06/20000

    BBVA Gestion, S.A., S.G.I.I.C.Distribucion Y Servicio ADRNYDYS45,761389430/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Eletrobras Cent Ele Bras ADRPKCAIFY35,572-282830/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Embratel Participacoes SA ADR PFDNYEMT209,212-502230/09/20000.1

    BBVA Gestion, S.A., S.G.I.I.C.Enersis SA ADRNYENI79,320-202330/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Financiero BBVA Bancomer Ord OMXGFBBO4,507,431319884630/09/20000.06

    BBVA Gestion, S.A., S.G.I.I.C.Fomento Econ Mex (FEMSA) ADRNYFMX120,0096581330/09/20000.18

    BBVA Gestion, S.A., S.G.I.I.C.Gerdau SA PFDSPGGB118,795,360-23459530/09/20000.16

    BBVA Gestion, S.A., S.G.I.I.C.Globo Cabo Spons ADRNDGLCBY60,999960030/09/20000.04

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Financiero Inbursa Ord OMX240,503-131330/09/20000.02

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Bimbo SA de CV Ser AMX291,1095022730/09/20000.02

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Carso SA ORD A1MX358,422263630/09/20000.04

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Continental Ord Ser IMX373,971-3864230/09/20000.05

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Financiero BBVA Bancomer ORD LMXGFBBL3,580,887-659243930/09/20000.35

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Financiero Galicia ADRNDGGAL96,7149671430/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Iusacell Sa Spons Adr Ser VNYCEL5,127-4606030/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Mexico SA Ord BMXNGMEXICB83,568-397630/09/20000.01

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Modelo SA ORD CMX536,625-2087930/09/20000.08

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Radio Centro SA ADRNYRC4,900-66630/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Grupo Televisa SA GDRNYTV59,34347230/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Hylsamex SA de CV BCPMX407,644617830/09/20000.17

    BBVA Gestion, S.A., S.G.I.I.C.Interamericana Entreten ORD BMXCIEB427,6081118830/09/20000.18

    BBVA Gestion, S.A., S.G.I.I.C.Kimberly Clark de Mexico SA ORD AMXKMBMF412,580166730/09/20000.06

    BBVA Gestion, S.A., S.G.I.I.C.Masisa S A ADRNYMYS30,96629430/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Minas Buenaventura Spons ADR BNYBVN68,713-202630/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Organizacion Soriana SA ORD BMX183,823233230/09/20000.03

    BBVA Gestion, S.A., S.G.I.I.C.Petroleo Brasileiro-Petrobras ADR PFPKPBRQY55,6331972930/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Petroleo Brasileiro-Petrobras PFDSP111,152-2914030/09/20000.02

    BBVA Gestion, S.A., S.G.I.I.C.Petroleo Brasileiro S.A. ADRNYPBR14,2651426530/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.AFP Provida ADRNYPVD40,8584085830/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.AFP Provida ORD RegCHPVD52,2162430/09/20000.02

    BBVA Gestion, S.A., S.G.I.I.C.Quimica y Minera ADR ANYSQM A2,847-2100930/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Quimica y Minera ADR BNYSQM23,9491844330/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.TV Azteca SA Spons ADRNYTZA4,386-21830/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Tele Celular Sul Part ADRNYTSU39,703-9030/09/20000.34

    BBVA Gestion, S.A., S.G.I.I.C.Tele Centro Oeste Celular Part ADRNYTRO200,7601992730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Tele Leste Celular Part ADRNYTBE1,313-1330/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Tele Norte Celular Part ADRNYTCN92792730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Tele Norte Leste Part ADRNYTNE184,702-417730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Tele Sudeste Celular Part SA ADRNYTSD12,076-1338330/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Tele Sudeste Celular Part SA ORD PFDSPTSEP4146,727,56514672756530/09/19990.07

    BBVA Gestion, S.A., S.G.I.I.C.Telecom Argentina (STET) ADR BNYTEO10,794-2755430/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Telecom Argentina (STET) ORD BBUTLAFF148,80614880630/09/20000.03

    BBVA Gestion, S.A., S.G.I.I.C.CTC ADRNYCTC87,371189730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.CTC ORD BCH237,56623756630/09/19990.29

    BBVA Gestion, S.A., S.G.I.I.C.Telefonica de Argentina ORD BBUTFOBF249,76324976330/09/19990.02

    BBVA Gestion, S.A., S.G.I.I.C.Telefonica de Argentina SA ADR BNYTAR160,301-14290530/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Telefonos de Mexico ADR LNYTMX234,1103071330/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Telefonos de Mexico ORD LMX162,366185930/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Telemig Celular Participacoes ADRNYTMB14,405268430/09/20000.14

    BBVA Gestion, S.A., S.G.I.I.C.Telenordeste Celular Part ADRNYTND26,139425030/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Telesp Celular Participacoes ADRNYTCP76,60410930/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Telesp Celular Participacoes ORD PFDSPTSPP466,033,7236603372330/09/19990.02

    BBVA Gestion, S.A., S.G.I.I.C.Telesp Tel De Sao Paulo ADRNYTSP36,055-1839130/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Unibanco SA GDR UnitsNYUBB157,773-7326830/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Unibanco SA ORD RegSP6,442,910644291030/09/20000.01

    BBVA Gestion, S.A., S.G.I.I.C.Usiminas Usi Sid Min Ger ORD Pfd ASP297,545352930/09/20000.27

    BBVA Gestion, S.A., S.G.I.I.C.Cia Vale do Rio Doce ADRNYRIO P95,644748730/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Vina Concha y Toro SA ADRNYVCO27,453-76430/09/20000

    BBVA Gestion, S.A., S.G.I.I.C.Vina Concha y Toro SA ORDCH95,8619586130/09/20000.01

    BBVA Gestion, S.A., S.G.I.I.C.Wal Mart de Mexico Ord CMXCFRAC228,8214722030/09/20000.04

    BBVA Gestion, S.A., S.G.I.I.C.Wal Mart de Mexico ORD VMX1,462,340-243330/09/20000.04

    BBVA Gestion, S.A., S.G.I.I.C.Wal Mart de Mexico S A Spons AdrPKWMMVY10,038501430/09/20000

    BBVA Privanza S.G.I.I.C.BBV Banco Frances SA ADRNYBFR90,6469064631/03/20000

    BBVA Privanza S.G.I.I.C.GPO Fin Banamex (Banacci) ORD OMX383,65235439631/03/20000.01

    BBVA Privanza S.G.I.I.C.Banco Bilbao Vizcaya Ord Ser BMX72872831/03/20000

    BBVA Privanza S.G.I.I.C.Banco Bilbao Vizcaya Intl ADR PRF ENYBVG PE61,5442611030/09/20000.62

    BBVA Privanza S.G.I.I.C.Banco Bradesco SA BBD ADRPKBBQCY165,00816500831/03/20000

    BBVA Privanza S.G.I.I.C.Banco Rio de la Plata ADR BNYBRS6,084-1998631/03/20000

    BBVA Privanza S.G.I.I.C.Cia Brasil Dist Pao Acucar GDR Reg SNYCBD6,558655831/03/20000

    BBVA Privanza S.G.I.I.C.CEMEX SA Spons ADR PCNYCX5,134405531/03/20000

    BBVA Privanza S.G.I.I.C.Copel-Cia Paranaense Energia ADR PfdNYELP3,2653631/03/20000

    BBVA Privanza S.G.I.I.C.Embratel Participacoes SA ADR PFDNYEMT50,4865048631/03/20000.02

    BBVA Privanza S.G.I.I.C.Grupo Financiero BBVA Bancomer Ord OMXGFBBO613,52461352431/03/20000.01

    BBVA Privanza S.G.I.I.C.Fomento Econ Mex (FEMSA) ADRNYFMX8,527852731/03/20000.01

    BBVA Privanza S.G.I.I.C.Globo Cabo Spons ADRNDGLCBY55,5755557531/03/20000.04

    BBVA Privanza S.G.I.I.C.Grupo Carso SA ORD A1MX14,9711497131/03/20000

    BBVA Privanza S.G.I.I.C.Grupo Iusacell Sa Spons Adr Ser VNYCEL18,1081810831/03/20000

    BBVA Privanza S.G.I.I.C.Grupo