es Current (local ccy) • Nasdaq Topix FTSE 100 MSCI Eurozone• 155 20.6% MSCI Europe' 1176 16.4% MSCI EM 5' Brazil Bovespa 62632 7.5% Hang Sang Shanghai SE 2277 52% 'Levels as of Dec 31. 2012/returns as of Jan 3.2012 Local twenty except MSCI EM S &vice: M. Morgan 1459 16.0% 3105 16.